3 CAR § 20-104. In-kind contributions — Reporting and value

(a) In addition to monetary contributions, committees are required to report the receipt of any in-kind contributions, as defined in 3 CAR § 20-101(7). (b)(1) For reporting purposes, the value of an in-kind contribution shall be its fair market value if it had been purchased, sold, or leased in the ordinary course of business. (2) An in-kind contribution constitutes a contribution. (3) Those transactions which are specifically excluded from the definition of “contribution” are likewise excluded from the definition of “in-kind contribution”. (c)(1) A person making an in-kind contribution shall place the value on such contribution when given. (2) The committee may question the value set by the donor if it appears unreasonable and shall revalue the in-kind contribution to a reasonable value. (3) The value of an in-kind contribution is a factual determination which shall be made by the Arkansas Ethics Commission. (d) The costs associated with any news story, commentary, or editorial distributed in the ordinary course of business by a broadcasting station, newspaper, or other periodical publication do not constitute an in-kind contribution.