Anything of Value Law and Legal Definition

Anything of value refers to any goods that have a certain utility to the recipient that is real and that is ordinarily not given away free but is purchased.

The following is an example of a state law on anything of value:

Anything of value includes the following:

a. a pecuniary item, including money, or a bank bill or note;

b. a promissory note, bill of exchange, order, draft, warrant, check, or bond given for the payment of money;

c. a contract, agreement, promise, or other obligation for an advance, conveyance, forgiveness of indebtedness, deposit, distribution, loan, payment, gift, pledge, or transfer of money;

d. a stock, bond, note, or other investment interest in an entity;

e. a receipt given for the payment of money or other property;

f. a right in action;

g. a gift, tangible good, chattel, or an interest in a gift, tangible good, or chattel;

h. loan or forgiveness of indebtedness;

i. a work of art, antique, or collectible;

j. an automobile or other means of personal transportation;

k . real property or an interest in real property, including title to realty; a fee simple or partial interest, present or future, contingent or vested, within realty; a leasehold interest; or other beneficial interest in realty;

l. a rebate or discount in the price of anything of value unless the rebate or discount is made in the ordinary course of business to a member of the public without regard to that person's status as a legislator;

m. a promise or offer of employment; or

n. any other thing of value that is pecuniary or compensatory in value to a person, or the primary significance of which is economic gain.

Anything of value does not include:

a. a campaign contribution properly received and reported, if reportable;

b. compensation, food, beverages, entertainment, transportation, lodging, or other goods or services extended to a legislator by the legislator's private employer or by a person other than a legislative agent or employer;

c. a usual and customary commercial loan made in the ordinary course of business, without regard to the recipient's status as a legislator, and by a person or institution authorized by law to engage in the business of making loans;

d. informational or promotional items;

e. educational items;

f. food and beverages consumed on the premises;

g. the cost of attendance or participation, and of food and beverages consumed, at events;

h. gifts from a person related by blood or marriage or a member of the legislator's household;

i. a gift that is not used and no later than thirty (30) days after receipt, is returned to the donor;

j. the cost, paid, reimbursed, raised, or obtained by the Legislative Research Commission, for attendance or participation, and for food and beverages consumed at, and funds, goods, and services provided for conducting events sponsored or coordinated by multistate or national organizations of, or including, state governments, state legislatures, or state legislators if the attendance and expenditures by the legislator are approved in advance by the Legislative Research Commission;

k. the cost of attendance or participation provided by the sponsoring entity, of lodging, and of food and beverages consumed, at events sponsored by or in conjunction with a civic, charitable, governmental, trade association, or community organization if the event is held within the state;

l. a gift or gifts from one member of the General Assembly to another member of the General Assembly;

m. anything for which the recipient pays or gives full value; or

n. any service spontaneously extended to a legislator in an emergency situation. [KRS § 6.611]