§ 163-278.11. Contents of treasurer's statement of receipts and expenditures.
§ 163‑278.11. Contentsof treasurer's statement of receipts and expenditures.
(a) Statements filedpursuant to provisions of this Article shall set forth the following:
(1) Contributions. Exceptas provided in subsection (a1) of this section, a list of all contributionsreceived by or on behalf of a candidate, political committee, or referendumcommittee. The statement shall list the name and complete mailing address ofeach contributor, the amount contributed, the principal occupation of thecontributor, and the date such contribution was received. The total sum of allcontributions to date shall be plainly exhibited. Forms for required reportsshall be prescribed by the Board. As used in this section, "principaloccupation of the contributor" means the contributor's:
a. Job title orprofession; and
b. Employer's name oremployer's specific field of business activity.
TheState Board of Elections shall prepare a schedule of specific fields ofbusiness activity, adapting or modifying as it deems suitable the businessactivity classifications of the Internal Revenue Code or other relevantclassification schedules. In reporting a contributor's specific field ofbusiness activity, the treasurer shall use the classification schedule preparedby the State Board.
(2) Expenditures. Alist of all expenditures required under G.S. 163‑278.8 made by or onbehalf of a candidate, political committee, or referendum committee. Thestatement shall list the name and complete mailing address of each payee, theamount paid, the purpose, and the date such payment was made. The total sum ofall expenditures to date shall be plainly exhibited. Forms for required reportsshall be prescribed by the Board. In accounting for all expenditures inaccordance with G.S. 163‑278.8(e) and G.S. 163‑278.8(f), the payeeshall be the individual or person to whom the candidate, political committee,or referendum committee is obligated to make the expenditure. If theexpenditure is to a financial institution for revolving credit or areimbursement for a payment to a financial institution for revolving credit,the statement shall also include a specific itemization of the goods andservices purchased with the revolving credit. If the obligation is for morethan one good or service, the statement shall include a specific itemization ofthe obligation so as to provide a reasonable understanding of the obligation.
(3) Loans. Everycandidate and treasurer shall attach to the campaign transmittal submitted witheach report an addendum listing all proceeds derived from loans for funds usedor to be used in this campaign. The addendum shall be in the form as prescribedby the State Board of Elections and shall list the amount of the loan, thesource, the period, the rate of interest, and the security pledged, if any, andall makers and endorsers.
(a1) Threshold forReporting Identity of Contributor. A treasurer shall not be required toreport the name, address, or principal occupation of any individual whocontributes fifty dollars ($50.00) or less to the treasurer's committee duringan election as defined in G.S. 163‑278.13. The State Board of Electionsshall provide on its reporting forms for the reporting of contributions belowthat threshold. On those reporting forms, the State Board may require date andamount of contributions below the threshold, but may treat differently forreporting purposes contributions below the threshold that are made in differentmodes and in different settings.
(b) Statements shallreflect anything of value paid for or contributed by any person or individual,both as a contribution and expenditure. A political party executive committeethat makes an expenditure that benefits a candidate or group of candidatesshall report the expenditure, including the date, amount, and purpose of theexpenditure and the name of and office sought by the candidate or candidates onwhose behalf the expenditure was made. A candidate who benefits from theexpenditure shall report the expenditure or the proportionate share of theexpenditure from which the candidate benefitted as an in‑kindcontribution if the candidate or the candidate's committee has coordinated withthe political party executive committee concerning the expenditure.
(c) Best Efforts. Whena treasurer shows that best efforts have been used to obtain, maintain, andsubmit the information required by this Article for the candidate or politicalcommittee, any report of that candidate or committee shall be considered incompliance with this Article and shall not be the basis for criminalprosecution or the imposition of civil penalties, other than forfeiture of acontribution improperly accepted under this Article. The State Board ofElections shall promulgate rules that specify what are "best efforts"for purposes of this Article, adapting as it deems suitable the provisions of11 C.F.R. § 104.7. The rules shall include a provision that if the treasurer,after complying with this Article and the rules, does not know the occupationof the contributor, it shall suffice for the treasurer to report "unableto obtain". (1973,c. 1272, s. 1; 1977, c. 635, s. 2; 1979, c. 1073, s. 20; 1997‑515, ss.2(a), (b), 3(a); 2006‑161, s. 4; 2006‑195, s. 5; 2007‑391, s.35(a); 2008‑187, s. 33(a).)