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))