HLS 16RS-60 ORIGINAL
2016 Regular Session
HOUSE BILL NO. 78
BY REPRESENTATIVE PEARSON
ETHICS/FINANCIAL DISCLOS: Requires the executive director of each of the state and
statewide retirement systems to file annual financial disclosure statements
1 AN ACT
2To enact R.S. 42:1124.2.1(A)(4), relative to financial disclosure; to require certain public
3 employees in specified positions with state and statewide retirement systems to file
4 financial disclosure statements; to provide for penalties; and to provide for related
5 matters.
6Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 42:1124.2.1(A)(4) is hereby enacted to read as follows:
8 §1124.2.1. Financial disclosure; members of boards and commissions
9 A. Each of the following, except a person who is required to file a financial
10 statement pursuant to R.S. 42:1124 or 1124.2, shall annually file a financial
11 statement as provided in this Section:
12 * * *
13 (4) The executive director or person holding the equivalent position of each
14 state and statewide retirement system specified in R.S. 11:4.
15 * * *
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 16RS-60 ORIGINAL
HB NO. 78
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 78 Original 2016 Regular Session Pearson
Abstract: Requires the executive director (or person holding the equivalent position) of
each state and statewide retirement system to file a Tier 2.1 personal financial
statement.
Present law (R.S. 42:1124.2.1–Tier 2.1) requires certain board and commission members to
file a financial disclosure statement with the Board of Ethics by May 15 of each year during
which the person holds the public office or position and the year following the termination
of the holding of such office or position. The statement shall include the following
information for the entire preceding calendar year: (1) the full name and mailing address of
the individual required to file; (2) the full name of the individual's spouse and the spouse's
occupation and principal business address; (3) the name of the employer, job title, and a brief
job description of each employment position held by the individual or spouse; (4) the name,
address, brief description of, and nature of association with and the amount of interest in
each business in which the individual or spouse is a director, officer, owner, partner,
member, or trustee, and in which the individual or spouse, either individually or collectively,
owns an interest which exceeds 10% of that business; (5) the name, address, brief description
of, and nature of association with a nonprofit organization in which the individual or spouse
is a director or officer; (6) the amount of income received by the individual or his spouse
from the state, political subdivisions, and certain gaming interests; (7) a certification that
such individual has filed his federal and state income tax returns or has filed for an extension
of time for filing such tax returns; and (8) either a certification that neither the individual nor
any member of his immediate family had a personal or financial interest in any entity,
contract, or business or a personal or financial relationship that in any way posed a conflict
of interest which affected the impartial performance of the individual's duties as a member
of the board or commission or a statement describing each conflict and any action the
individual took to resolve or avoid the conflict.
Proposed law additionally requires the executive director or person holding the equivalent
position of each state and statewide retirement system to file a Tier 2.1 personal financial
statement and otherwise retains present law.
Present law (R.S. 42:1124.4) provides that after seven business days after notice of
delinquency, if a person fails to file the statement, fails to provide omitted information, fails
to correct inaccurate information, or fails to file a written answer prior to the deadline
contained in the notice, he shall be subject to assessment of the penalties of $50 each day
until the statement, omitted information, corrected information, or written answer is filed.
Further provides that a finding by the Board of Ethics that a person has willfully and
knowingly failed to file a statement, willfully and knowingly failed to timely file a
statement, willfully and knowingly omitted information from a statement, or willfully and
knowingly provided inaccurate information in a statement shall subject the person to
prosecution for a misdemeanor.
(Adds R.S. 42:1124.2.1(A)(4))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.