Subchapter 05B - CONTENTS

30 NCAC 05B .0101          DEFINITION OF IMMEDIATE FAMILY

A child of a covered person who is 18 years of age or older and who temporarily resides away from home is "residing in the covered person's household" for each year in which the child is claimed as a dependent on the covered person's Federal Income Tax Return.

History Note:        Authority G.S. 138A-10(a)(2); 138A-10(a)(4); 138A-10(a)(10); 138A-24(a);

Eff. January 1, 2011.

30 NCAC 05B .0102          REPORTABLE STOCK HOLDING THRESHOLD IS PER COMPANY

The ten thousand dollar ($10,000) threshold that triggers reporting of stocks is per company and not the cumulative value of stocks held in multiple companies.

History Note:        Authority G.S. 138A-10(a)(2); 138A-10(a)(4); 138A-10(a)(10); 138A-24(a)(2)(e);

Eff. January 1, 2011.

30 NCAC 05B .0103          SECOND MORTGAGE NOT REPORTABLE

A second mortgage is another form of "indebtedness on the filing person's primary personal residence.  Therefore, that debt is not reportable on that individual's Statement of Economic Interest.

History Note:        Authority G.S. 138A-10(a)(2); 138A-10(a)(4); 138A-10(a)10); 138A-24(a)(2)(k);

Eff. January 1, 2011.

30 NCAC 05B .0104          REPORTABLE LIABILITY THRESHOLD IS PER CREDITOR

The ten thousand dollar ($10,000) threshold that triggers reporting of liabilities is per creditor and not the cumulative value of multiple debts.

History Note:        Authority G.S. 138A-10(a)(2); 138A-10(a)(4); 138A-10(a)10); 138A-24(a)(2)(k);

Eff. January 1, 2011.

30 NCAC 05B .0105          DEFINITION OF INCOME

In addition to the types of income listed in G.S. 138A-24(a)(3) that must be reported on the Statement of Economic Interest, income shall also include all types of income required to be reported on the filer's federal tax return.

History Note:        Authority G.S. 138A-10(a)(2); 138A-10(a)(10); 138A-24(a)(3);

Eff. January 1, 2013.