HLS 24RS-769 ORIGINAL
2024 Regular Session
HOUSE BILL NO. 710
BY REPRESENTATIVE WRIGHT
ETHICS/FINANCIAL DISCLOS: Provides relative to the financial disclosure required of
members of the Board of Ethics and the ethics administrator
1 AN ACT
2To amend and reenact R.S. 42:1124.5(introductory paragraph) and to enact R.S.
3 42:1124(A)(12) and to repeal R.S. 42:1124(A)(3), relative to financial disclosure; to
4 apply increased disclosure requirements on the Board of Ethics and the ethics
5 administrator; and to provide for related matters.
6Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 42:1124.5(introductory paragraph) is hereby amended and reenacted
8and R.S. 42:1124(A)(12) is hereby enacted to read as follows:
9 §1124. Financial disclosure; statewide elected officials; certain public servants
10 A. The following persons shall annually file a financial statement as
11 provided in this Section:
12 * * *
13 (12) Each member of the Board of Ethics and the ethics administrator.
14 * * *
15 §1124.5. Disclosure; Board of Ethics; ethics administrator
16 Each member of the Board of Ethics and the ethics administrator shall
17 include on the statement required by R.S. 42:1124.2 R.S. 42:1124 the following
18 information for the preceding calendar year unless the information is already
19 included in the statement:
20 * * *
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HB NO. 710
1 Section 2. R.S. 42:1124.2(A)(3) is hereby repealed in its entirety.
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 710 Original 2024 Regular Session Wright
Abstract: Extends Tier 1 personal financial disclosure requirements to the members of the
Board of Ethics and the ethics administrator.
Present law (Code of Governmental Ethics!R.S. 42:1124, 1124.2, 1124.2.1, and 1124.3-
Tiers 1, 2, 2.1, and 3) requires all elected officials and certain other specified officials and
board and commission members to file a financial disclosure statement by May 15 of each
year during which the person holds public office or position and by May 15 of the year
following the termination of the holding of such office.
Present law requires the members of the Board of Ethics and the ethics administrator to file
a Tier 2 disclosure as well as an additional disclosure. Present law requires that in addition
to the information required to be included in the statement pursuant to present law (R.S.
42:1124.2 -Tier 2), each member of the Board of Ethics and the ethics administrator shall
include the following:
(1)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, or in which the individual or spouse
owns any interest, excluding a publicly traded corporation.
(2)The name, address, type, and amount of each source of income received by the
individual or spouse, or by any business in which the individual or spouse owns an
interest, excluding a publicly traded corporation, which is received from the state or
any political subdivision as defined in Article VI of the Constitution of La.
(3)The name of each governmental entity from whom the individual or his spouse
derives any thing of economic value through any contract or subcontract involving
a governmental entity, including the La. Insurance Guaranty Assoc., the La. Health
Insurance Guaranty Assoc., La. Citizens Property Insurance Corp., the Property
Insurance Association of La., and any other quasi public entity; the nature of the
contract or subcontract; and the value of thing of economic value derived.
Present law (Tier 2) provides that when an amount is required to be disclosed that is not a
specific dollar amount, it is sufficient to report by the following categories: (1) Category I,
less than $5,000; (2) Category II, $5,000-$24,999; (3) Category III, $25,000-$100,000; and
(4) Category IV, more than $100,000.
Proposed law requires the members of the Board of Ethics and the ethics administrator to
file a Tier 1 disclosure as well as the additional disclosures pursuant to present law. Tier 1
disclosures require more detail than Tier 2 disclosures. Present law (R.S. 42:1124-Tier 1)
requires statewide elected officials and certain executive branch officials to annually file a
financial statement that includes certain specific information concerning income,
employment, property, business associations, investments, liabilities, and transactions. In
addition to the same information required by Tier 2 disclosures, Tier 1 disclosures require
the filer for each source of income in excess of $1,000 received by the filer or spouse or
business, to include specific information about the source of the income and the nature of
the services rendered therefor. However, relative to income derived from professional or
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HB NO. 710
consulting services, when the disclosure of the name or address of any source of income
would be prohibited by law or by a professional code, allows the filer to only include the
number of clients and amount of income for each of several specified applicable industry
types. Tier 1 additionally requires reporting of any liability resulting from consumer credit
transactions. Further Tier 1 requires that when an amount is required to be disclosed that
is not a specific dollar amount, the categories provide greater detail than the Tier 2
categories. The Tier 1categories are: (1) Category I, less than $5,000; (2) Category II,
$5,000-$24,999; (3) Category III, $25,000-49,999; (4) Category IV, $50,000-$99,000;
(5) Category V, $100,000-$199,999; (6) Category VI, $200,000 or more.
(Amends R.S. 42:1124.5(intro. para.); Adds R.S. 42:1124(A)(12); Repeals 1124.2(A)(3))
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