California Code of Regulations › Title 2 - Administration › Division 6 - Fair Political Practices Commission › Chapter 9.5 - Ethics › Section 18946 - Valuation of Gifts

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				General Gifts. Except as specified in subdivisions (b) and (c), a gift is
				valued at fair market value as of the date of receipt. Sections
				18946.1 through
				18946.5 provide for the valuation
				of specific types of gifts in the following situations:
Ticketed Events -- See Regulation 18946.1
Invitation-Only Events -- See Regulation 18946.2
Wedding Gifts -- See Regulation 18946.3
Tickets to Nonprofit and Political Fundraisers -- See
				  Regulation 18946.4
Air Transportation -- See Regulation 18946.5
(b) Unique Gifts. Whenever the fair market
				value of a gift cannot be determined because the gift is unique or unusual, the
				official must make a reasonable approximation. In making such an approximation,
				the official must take into account the price of similar items. If similar
				items are not available as a guide, a good faith estimate shall be
				utilized.
(c) Except as specified
				in Regulation 18946.1(a) and (b), the value of a gift is its full value even if
				unused, partially used, discarded, or transferred to another person.
(d) Definitions: For purposes of this
				regulation and Regulations 18946.1 through 18946.5, Regulation 18944.1, and
				Regulation 18640, the following definitions apply:
(1) "Fair Value." For a ticket offered for
				sale to the general public, the "fair value" means the face value of the ticket
				or pass. The "fair value" of a ticket or pass that does not have a face value
				indicated, or has a face value that is not available to the general public, is
				the price at which the ticket or pass would otherwise be offered for sale to
				the general public by the operator of the venue or host of the event who offers
				the ticket for public sale. Where the price indicated on the ticket does not
				reflect the actual cost for a ticket in a luxury box or suite, the face value
				is determined by dividing the total cost of the box or suite by the number of
				tickets available for that box or suite.
(2) "Ticket." A "ticket" is anything that
				provides access, entry, or admission to a specific future event or function and
				for which similar tickets are sold to the public to view, listen to, or
				otherwise take advantage of the attraction or activity for which the ticket is
				sold and includes any benefits that the ticket provides.
(3) "Pass." A "pass" is a ticket that
				provides repeated access, entry, or admission to a facility or series of events
				and for which similar passes are sold to the public.
(4) "Invitation." An "invitation" means a
				request to attend an event or function by the host, sponsor, or organizer of
				the event or function, where admission to the event is provided by the
				invitation only and not by a ticket or pass as defined above.
(5) "Invitation Only Event." An "invitation
				only event" is a gathering of individuals, who attend by invitation and where
				costs are incurred to hold the event beyond the costs of providing
				food.
(6) "Specific Item."
				"Specific item" means a tangible item the official receives at an event that is
				included among the non-cash nominal items presented to all attendees at the
				event.