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Regular Session, 2014
SENATE BILL NO. 270
BY SENATOR AMEDEE
ETHICS. Provides relative to personal financial disclosure. (8/1/14)
AN ACT1
To amend and reenact R.S. 18:1495.7(A) and R.S. 42:1114(C)(1) and (E) and to enact R.S.2
42:1124.3(C)(3), (4), and (5), relative to personal financial disclosure; to require3
certain information on certain financial disclosure forms; to provide for enforcement4
of penalties for the failure to file financial disclosures; and to provide for related5
matters.6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 18:1495.7(A) is hereby amended and reenacted to read as follows:8
§1495.7. Financial disclosure statements9
A.(1) Any person who becomes a candidate for an office for which the holder10
of the office is required to file financial disclosure statements pursuant to R.S.11
42:1124, 1124.2, or 1124.3 shall file a financial disclosure statement as required by12
R.S. 42:1124, 1124.2, or 1124.3 for the office for which he is a candidate. The13
statement required by this Section shall be filed within three business days after the14
close of the qualifying period during which the candidate files his notice of15
candidacy for the office. If the person is required by R.S. 42:1124, 1124.2, or 1124.316
to file a statement for the office for which he is a candidate, such filing shall satisfy17 SB NO. 270
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the requirements of this Section.1
(2) Any person who becomes a candidate for an office prior to April2
fifteenth of any calendar year shall not be required to certify on his personal3
financial disclosure report that he has filed his federal and state income tax4
returns or filed for an extension thereof for the prior year.5
* * *6
Section 2. R.S. 42:1114(C)(1) and (E) are hereby amended and reenacted and R.S.7
42:1124.3(C)(3), (4), and (5) are enacted to read as follows:8
§1114. Financial Disclosure9
* * *10
C.(1) Other than a legislator, each elected official, his spouse, and any11
business enterprise in which he has a substantial economic interest, who derives12
anything of economic value through a contract or other subcontract from the state or13
any political subdivision shall disclose the following:14
(a) The amount of income or value of anything of economic value derived;15
(b) The nature of the business activity;16
(c)(b) The name and address, and relationship to the elected official, if17
applicable; and18
(d)(c) The name and business address of the political subdivision, if19
applicable.20
* * *21
E. The disclosure statements required in this Section shall be filed each year22
with the appropriate ethics body by May first fifteenth and shall include such23
information for the previous calendar year. Such statements shall be a matter of24
public record.25
* * *26
§1124.3. Financial Disclosure; certain elected officials, voting districts of under27
five thousand28
* * *29 SB NO. 270
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C. The financial statement required by this Section shall be filed on a form1
prescribed by the Board of Ethics and shall include the following information:2
* * *3
(3) The full name and mailing address of the individual who is required4
to file.5
(4) The full name of the individual's spouse, if any, and the spouse's6
occupation and principal business address.7
(5) The name of the employer, job title, and a brief job description of8
each full-time or part-time employment held by the individual or spouse.9
* * *10
The original instrument was prepared by Ashley Menou. The following
digest, which does not constitute a part of the legislative instrument, was
prepared by Linda Nugent.
DIGEST
Amedee (SB 270)
Present law requires candidates qualifying for an election to file a personal financial
statement disclosure report.
Proposed law provides that candidates qualifying for an election prior to April 15
th
do not
have to certify on the personal financial disclosure report that they have filed their federal
or state income tax returns or filed for an extension for the prior year.
Present law requires public servants other than legislators to file income disclosures for state
or political subdivision contracts by May first.
Proposed law changes the due date of income disclosures for public servants other than
legislator to May 15
th
.
Present law requires Tier 1, 2, and 2.1 personal financial disclosures to include filer's and
spouse's name, address, and employment information.
Proposed law adds required information to the Tier 3 personal financial disclosures
regarding the filer's name, address, and employment and any spouse's name, occupation, and
principal business address.
Effective August 1, 2014.
(Amends R.S. 18:1495.7(A) and R.S. 42:1114(C)(1) and (E); adds R.S. 42:1124.3(C)(3), (4),
and (5)) SB NO. 270
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Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Senate and
Governmental Affairs to the original bill
1. Changes April reporting date for certifying personal financial disclosure
forms to May.
Senate Floor Amendments to engrossed bill
1. Provides that a person becoming a candidate prior to April 15 does not have
to certify on his personal financial disclosure report that he has filed his
income tax returns or filed for an extension for the prior year.
2. Clarifies that the required address of a spouse of a Tier 3 individual filer is
a principal business address.