(a) Notwithstanding any provision of this code to the contrary, amounts received by a candidate as contributions that are in excess of any amount necessary to defray his or her expenditures may be:
(1) Used by the candidate to defray any usual and customary expenses incurred in connection with his or her duties as a holder of public office; and
(2) Contributed by the candidate, after the general election, to:
(A) Any charitable organization or subsequent campaign by the same candidate, without limitation;
(B) Any national committee in accordance with federal requirements;
(C) Any state party executive committee or state party legislative caucus committee, in an amount not to exceed $15,000 in a calendar year; or
(D) Any local committee of any political party or any other candidate for public office, in accordance with the existing limitations on contributions.
(b) The State Election Commission shall promulgate emergency and legislative rules, in accordance with the provisions of chapter twenty-nine-a of this code, to establish guidelines for the administration of this section.