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TO AMEND SECTION 8-13-1120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CONTENTS OF STATEMENTS OF ECONOMIC INTERESTS, SO AS TO REVISE THE FORM AND REQUIRED CONTENTS OF STATEMENTS OF ECONOMIC INTERESTS, INCLUDING PROVISIONS TO FURTHER IDENTIFY SOURCES OF CERTAIN INCOME, THE AMOUNTS AND SOURCES OF CERTAIN OTHER INCOME, AND THE IDENTITY OF A GOVERNMENTAL ENTITY FROM WHICH A STATE OR LOCAL PUBLIC OFFICIAL DERIVES INCOME IN SPECIFIC SITUATIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 8-13-1120 of the 1976 Code, as last amended by Act 6 of 1995, is further amended to read:
"Section 8-13-1120. (A) A statement of economic interests filed pursuant to Section 8-13-1110 must be on forms prescribed by the State Ethics Commission and must contain full and complete information concerning:
(1) the name, business or government address, and workplace telephone number of the filer;
(2) the source, type, and amount or value of income, not to include tax refunds, of substantial monetary value received from a governmental entity by the filer or a member of the filer's immediate family during the reporting period;
(3)(a) the description, value, and location of all real property owned and options to purchase real property during the reporting period by a filer or a member of the filer's immediate family if:
(i) there have been any public improvements of more than two hundred dollars on or adjacent to the real property within the reporting period and the public improvements are known to the filer; or
(ii) the interest can reasonably be expected to be the subject of a conflict of interest; or
(b) if a sale, lease, or rental of personal or real property is to a state, county, or municipal instrumentality of government, a copy of the contract, lease, or rental agreement must be attached to the statement of economic interests;
(4) the name of each organization which paid for or reimbursed actual expenses of the filer for speaking before a public or private group, the amount of such payment or reimbursement, and the purpose, date, and location of the speaking engagement;
(5) the identity of every business or entity in which the filer or a member of the filer's immediate family held or controlled, in the aggregate, securities or interests constituting five percent or more of the total issued and outstanding securities and interests which constitute a value of one hundred thousand dollars or more;
(6)(a) a listing by name and address of each creditor to whom the filer or member of the filer's immediate family owed a debt in excess of five hundred dollars at any time during the reporting period, if the creditor is subject to regulation by the filer or is seeking or has sought a business or financial arrangement with the filer's agency or department other than for a credit card or retail installment contract, and the original amount of the debt and amount outstanding unless:
(i) the debt is promised or loaned by a bank, savings and loan, or other licensed financial institution which loans money in the ordinary course of its business and on terms and interest rates generally available to a member of the general public without regard to status as a public official, public member, or public employee; or
(ii) the debt is promised or loaned by an individual's family member if the person who promises or makes the loan is not acting as the agent or intermediary for someone other than a person named in this subitem; and
(b) the rate of interest charged the filer or a member of the filer's immediate family for a debt required to be reported in (a);
If a discharge of a debt required to be reported in (a) has been made, the date of the transaction must be shown.
(7) the name of any lobbyist, as defined in Section 2-17-10(13) who is:
(a) an immediate family member of the filer;
(b) an individual with whom or business with which the filer or a member of the filer's immediate family is associated;
(8) if a public official, public member, or public employee receives compensation from an individual or business which contracts with the governmental entity with which the public official, public member, or public employee serves or is employed, the public official, public member, or public employee must report the name and address of that individual or business and the amount of compensation paid to the public official, public member, or public employee by that individual or business;
(9) the source and a brief description of any gifts, including transportation, lodging, food, or entertainment received during the preceding calendar year from:
(a) a person, if there is reason to believe the donor would not give the gift, gratuity, or favor but for the official's or employee's office or position; or
(b) a person, or from an officer or director of a person, if the public official or public employee has reason to believe the person:
(i) has or is seeking to obtain contractual or other business or financial relationship with the official's or employee's agency; or
(ii) conducts operations or activities which are regulated by the official's or employee's agency if the value of the gift is twenty-five dollars or more in a day or if the value totals, in the aggregate, two hundred dollars or more in a calendar year.;
(10) except as provided in items (11) and (12), the source of any other income in excess of two thousand five hundred dollars received from a single nonpublic source by the filer that is contained on a W-2, K-1, 1099, or any other reporting form used by the Internal Revenue Service for the disclosure of income, not to include income received pursuant to:
(a) a court order;
(b) interest from a savings or checking account with a bank, savings and loan, or other licensed financial institution which offers savings or checking accounts in the ordinary course of its business and on terms and interest rates generally available to a member of the general public without regard to status as a public official, public member, or public employee;
(c) a mutual fund or similar fund in which an investment company invests its shareholders' money in a diversified selection of securities;
(11) the specific source and amount of income received by a public official, a member of the public official's immediate family, or a business with which the public official is associated if the public official directly derives income from a contractual or financial relationship, including a consultant or independent contractor relationship, with a lobbyist's principal;
(12) the name of any governmental entity at the state level if the filer is a state public official or at the local level if the filer is a local public official from which the filer directly derives income from a contractual or financial relationship, including a consultant or independent contractor relationship, between that governmental entity and that public official, a member of the public official's immediate family, or a business with which the public official is associated.
(B) This article does not require the disclosure of economic interests information concerning:
(1) a spouse separated pursuant to a court order from the public official, public member, or public employee;
(2) a former spouse;
(3) a campaign contribution that is permitted and reported under Article 13 of this chapter; or
(4) matters determined to require confidentiality pursuant to Section 2-17-90(E)."
SECTION 2. This act takes effect upon approval by the Governor.
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