STOP NCAR

This site is about the overreaching political power of the NC Association of Realtors flush with money from cashing in your equity 6% at a time, leaving you to pay for growth with property taxes, year after year, with or without cash flow. In the last few years NCAR has pumped millions of dollars into NC political campaigns at the state and local level. They have spent millions more to defeat Local Options for Local Governments with misleading ads.

Wednesday, July 11, 2007

Reasonable Expectations

The NC Realtors PAC has submitted its 2007 mid-year finance report but has yet to file updated data files for 2005 and 2006. The newly submitted 2007 report shows $333,814.40 in contributions to the PAC including $61,029.90 in in-kind contributions representing 18% of contributions. Direct expenditures totalled only $13,178.42 leaving the PAC with $765,698.73 cash on hand.

State election law allows the parent entity of a PAC to provide "reasonable administrative support" without being included in contribution limits. (GS 163-278.19) However, there is no definition of "reasonable administrative support" so the practice is open to wide interpretation and, abuse. In any event, PAC rules require the filing of a CRO-1710 "Administrative Support Form" twice yearly to report these expenses but such forms have never been filed by the NC Realtors PAC.

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