2005 North Carolina Code - General Statutes § 163-278.10A. Threshold of $3,000 for Financial Reports.

§ 163‑278.10A.  Threshold of $3,000 for Financial Reports.

(a)       Notwithstanding any other provision of this Chapter, a candidate shall be exempted from the reports of contributions, loans, and expenditures required in G.S. 163‑278.9(a), 163‑278.40B, 163‑278.40C, 163‑278.40D, and 163‑278.40E if to further his campaign that candidate:

(1)       Does not receive more than three thousand dollars ($3,000) in contributions, and

(2)       Does not receive more than three thousand dollars ($3,000) in loans, and

(3)       Does not spend more than three thousand dollars ($3,000).

To qualify for the exemption from those reports, the candidate's treasurer shall file a certification that he does not intend to receive in contributions or loans or expend more than three thousand dollars ($3,000) to further his campaign. The certification shall be filed with the Board at the same time the candidate files his Organizational Report as required in G.S. 163‑278.7, G.S. 163‑278.9, and G.S. 163‑278.40A. If the candidate's campaign is being conducted by a political committee which is handling all contributions, loans, and expenditures for his campaign, the treasurer of the political committee shall file a certification of intent to stay within the threshold amount. If the intent to stay within the threshold changes, or if the three thousand dollar ($3,000) threshold is exceeded, the treasurer shall immediately notify the Board and shall be responsible for filing all reports required in G.S. 163‑278.9 and 163‑278.40B, 163‑278.40C, 163‑278.40D, and 163‑278.40E; provided that any contribution, loan, or expenditure which would have been required to be reported on an earlier report but for this section shall be included on the next report required after the intent changes or the threshold is exceeded.

(b)       The exemption in subsection (a) of this section applies to political party committees under the same terms as for candidates, except that the term "to further his campaign" does not relate to a political party committee's exemption, and all contributions, expenditures, and loans during an election shall be counted against the political party committee's threshold amount. (1987 (Reg. Sess., 1988), c. 1028, s. 2; c. 1081, s. 3; 1989, c. 449; c. 770, s. 53; 1997‑515, s. 4(e); 2001‑235, s. 3.)