Current Amendment: 11613DG11.DOCX to Bill 3700
Senator THOMAS proposes the following amendment (NBD\11613DG11):
Amend the bill, as and if amended, Part IB, Section 89, GENERAL PROVISIONS, page 527, after line 12, by adding an appropriately numbered new proviso to read:
/ 89.___. (GP: Disclosures) For the current fiscal year, and from the funds appropriated to the State Ethics Commission, the Senate, and the House of Representatives, the commission may expend up to $1,000, and the Senate and the House of Representatives each may expend up to $500, to require and enforce, a statement of economic interest to disclose the major source or sources of income of more than $200 including, but not limited to, office, directorships, and salaried employments of the person making disclosure, and the person's spouse. However, no dollar amounts need be stated. The disclosure must state the name and address of any entity that provides a source of income of more than $200. This requirement must not be construed to require the disclosure of any client list or customer list, nor the address of any investment property. When reporting private income received from a security listed on the New York Stock Exchange, American Stock Exchange, or the Nasdaq, the disclosure may state only the name of the entity, in lieu of disclosing the name and address of the entity. If the reporting individual's or spouse's ownership of a business enterprise's securities provides income of more than $200, then the business enterprise must be named in lieu of any investment brokerage firm or other fiduciary that may possess or manage the securities on behalf of the member or spouse. If the reporting individual's or spouse's ownership of shares of a mutual fund provides income of more than $200, then the mutual fund must be named in lieu of the business enterprises whose securities are owned by the mutual fund. For purposes of this requirement, income received in the current fiscal year must be reported for the calendar year in which it is received. When reporting income received from investments with a federal or state chartered bank, the disclosure may state only the name of the bank, in lieu of stating the name and address of the bank. Also, the appropriate supervisory office shall use the funds permitted by this proviso, to require and enforce, a statement of economic interest to disclose positions held during the applicable reporting period including, but not limited to, those of an officer, director, trustee, general partner, proprietor, or representative of any corporation, firm, partnership, or other business enterprise, or any nonprofit organization or educational institution. Both the year and month must be reported for the period of time the position was held. Positions with religious, social, fraternal, or political entities, and those solely of any honorary nature do not require disclosure. In addition to all other penalties, a person who fails to disclose the information required by this paragraph, must be assessed a civil penalty of $100, which must be credited to the appropriate supervisory office. /
Renumber sections to conform.
Amend sections, totals and title to conform.