GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1989

H	1 

HOUSE BILL 353

Short Title:  In-Kind Contributions.	(Public)
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Sponsors: Representatives Dawkins; Beall and N. Crawford.
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Referred to:  Judiciary.
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February 23, 1989

A BILL TO BE ENTITLED
AN ACT TO DEFINE "IN-KIND CONTRIBUTIONS”AND CLARIFY THAT THEY MUST BE REPORTED AS BOTH CONTRIBUTIONS AND EXPENDITURES.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 163-278.6 is amended by inserting a new subdivision to read:
"(10a)	The term ‘in-kind contribution' means any contribution other than a cash contribution."
Sec. 2. G.S. 163-278.11 reads as rewritten:
"§ 163-278.11.  Contents of treasurer's statement of receipts and expenditures.
(a)	Statements filed pursuant to provisions of this Article shall set forth the following:
(1)	Contributions. – A list of all contributions required to be listed under G.S. 163-278.8 received by or on behalf of a candidate, political committee, or referendum committee. The statement shall list the name and complete mailing address of each contributor, the amount contributed, and the date such contribution was received. The total sum of all contributions to date shall be plainly exhibited. Forms for required reports shall be prescribed by the Board.
(2)	Expenditures. – A list of all expenditures required under G.S. 163-278.8 made by or on behalf of a candidate, political committee, or referendum committee. The statement shall list the name and complete mailing address of each payee, the amount paid, the purpose, and the date such payment was made. The total sum of all expenditures to date shall be plainly exhibited. Forms for required reports shall be prescribed by the Board.
(3)	Loans. – Every candidate and treasurer shall attach to the campaign transmittal submitted with each report an addendum listing all proceeds derived from loans for funds used or to be used in this campaign. The addendum shall be in the form as prescribed by the State Board of Elections and shall list the amount of the loan, the source, the period, the rate of interest, and the security pledged, if any, and all makers and endorsers.
(b)	Statements shall reflect any in-kind contribution both as a contribution and expenditure."
Sec. 3. This act shall become effective with respect to all in-kind contributions on or after January 1, 1990.