(b)

1. (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. (2) An in-kind contribution constitutes a contribution.
3. (3) Those transactions that are specifically excluded from the definition of contribution are likewise excluded from the definition of in-kind contribution.

(c)

1. (1) A contributor makes an in-kind contribution whenever, in conjunction with the nomination or election of a specific candidate, such contributor purchases, sells, or leases an item or provides a service to or on behalf of the candidate without charge or for a charge that is less than the fair market value of the item or service provided.
2. (2) The difference between the fair market value and the charge shall be the value of the in-kind contribution.
3. (3) The donor of the item or service shall place the value on the in-kind contribution when given.
4. (4) The candidate or someone designated to act on his or her behalf, such as the treasurer of the campaign, may question the value set by the donor if it appears unreasonable and shall revalue the in-kind contribution to a reasonable value.
5. (5) The value of an in-kind contribution is a factual determination that shall be made by the Arkansas Ethics Commission.

(d)

1. (1) The transfer of anything of value by a political party to a candidate, other than a direct contribution or those items specifically listed as exemptions in Arkansas Code § 7‑6‑201(5), shall constitute an in-kind contribution.
2. (2) A political advertisement by a political party on behalf of a specifically named candidate expressly advocating the election of the candidate or the defeat of the candidate's opponent constitutes an in-kind contribution.
3. (3) However, public efforts, including political advertisements, by political parties to promote the party's platform or to inform the public of the party's views on certain issues, as opposed to promoting the election or defeat of specific candidates, shall not constitute an in-kind contribution to any candidate.

(e)

1. (1) 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 does not constitute an in-kind contribution.
2. (2) Costs associated with nonpartisan activities designed to encourage individuals to register to vote or to vote do not constitute in-kind contributions.
3. (3) Finally, the costs associated with internal organizational communications of business, labor, professional, or other associations that merely endorse a candidate do not constitute in-kind contributions.

(f)

1. (1) Political advertising, as detailed in subsection (d) of this section, supporting more than one (1) candidate and other forms of political marketing may be an in-kind contribution.
2. (2) If political advertising or other mass political marketing technique supports more than one (1) candidate and is determined to be an in-kind contribution, the amount of the contribution shall be determined and reported by dividing the full value of the political advertising or marketing by the number of persons benefited.
3. (3) Each candidate specifically listed by the advertisement shall assume the pro rata share of the costs of the contribution.