(a) The forgiveness of a loan to a candidate, officeholder,
or political committee is a reportable in-kind political contribution
unless the loan does not constitute a contribution under §251.001(2)
of the Election Code, and the forgiveness of the loan was made in
the due course of business.
(b) The settlement of a debt owed by a candidate, officeholder,
or political committee is a reportable in-kind political contribution
unless the creditor is a commercial vendor that has treated the settlement
in a commercially reasonable manner that reflects the usual and normal
practice of the industry, and is typical of the terms the commercial
vendor offers to political and non-political persons alike.
|