South Carolina General Assembly
109th Session, 1991-1992

Bill 3420


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Introducing Body:               House
Bill Number:                    3420
Primary Sponsor:                Harvin
Committee Number:               25
Type of Legislation:            GB
Subject:                        Ethics, financial disclosure
Residing Body:                  House
Current Committee:              Judiciary
Computer Document Number:       3420
Introduced Date:                Feb 05, 1991
Last History Body:              House
Last History Date:              Feb 05, 1991
Last History Type:              Introduced, read first time,
                                referred to Committee
Scope of Legislation:           Statewide
All Sponsors:                   Harvin
Type of Legislation:            General Bill



History


 Bill  Body    Date          Action Description              CMN
 ----  ------  ------------  ------------------------------  ---
 3420  House   Feb 05, 1991  Introduced, read first time,    25
                             referred to Committee

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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 8-13-831 SO AS TO REQUIRE ADDITIONAL FINANCIAL DISCLOSURE BY PERSONS REQUIRED TO FILE STATEMENTS OF ECONOMIC INTEREST, TO REQUIRE THE STATE ETHICS COMMISSION TO PRESCRIBE A FINANCIAL DISCLOSURE FORM FOR FILING THIS ADDITIONAL INFORMATION, AND TO REQUIRE SUCH FILINGS TO BE ACCOMPANIED BY THE REPORTING PERSON'S MOST RECENTLY FILED STATE AND FEDERAL INCOME TAX RETURNS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Article 11, Chapter 13, Title 8 of the 1976 Code is amended by adding:

"Section 8-13-831. (A) In addition to other reporting requirements, persons other than candidates required to file statements of economic interest shall report annually no later than April thirtieth on a statement of economic interest:

(1) the source and amount of all income in excess of one hundred dollars in value received in the previous calendar year, not including income received on account of the reporting individual's public service;

(2) the identity and value of an interest in property held any time during the previous calendar year:

(a) in a trade or business;

(b) for investment; or

(c) for the production of income.

This item (2) does not extend to personal liabilities owed the member by his spouse, parent, brother, sister, or child and deposits in personal savings accounts aggregating ten thousand dollars or less. For purposes of this item, a personal savings account includes a certificate of deposit or other form of deposit in a financial institution;

(3) the identity and amount of total liabilities owed to a creditor other than relative in the previous calendar year which exceed ten thousand dollars at any time during the year, but this item does not include mortgages on the reporting person's personal residence or a purchase money loan secured by a motor vehicle, household furniture, or appliances.

(B) The reporting requirements imposed by this section extend to members of the household of the reporting person during the entire reporting period.

(C) The reporting person shall attach to his statement copies of his most recently filed state and federal income tax returns.

(D) A candidate who is not otherwise required to make the report required by this section must provide the information required by this section at the time he is required to file the statement of economic interest as provided in Section 8-13-610."

SECTION 2. This act takes effect January 1, 1992.

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