Ethics training for legislators-elect; making the code of ethics applicable to state public officials-elect; and the requirement to file and the required content of statements of economic interests

This bill extends coverage of the code to apply to individuals whose names are certified as having won election to office and who qualify to assume office but who have not yet assumed office.

Current law requires state public officials and nominees and candidates for state public office to file statements of economic interests with the board. Current law defines "state public official" to include individuals appointed to their office, such as appointees of the governor, and individuals elected into office, such as members of the state assembly and state senate, the governor, and state supreme court justices. This bill makes changes to the requirements to file and to the content of these statements, including the following:

1. Currently, a state public official who serves in office during January of any year must file a statement of economic interests with the board covering the preceding calendar year no later than April 30 following the calendar year. This bill changes the filing deadline to February 28.

2. Currently, a state public official, an appointee to a state public office, or a nominee or candidate for state public office must file a statement of economic interests that is current as of a date specified by law. In addition to other information, the statement identifies certain organizations with which the individual or a member of his or her immediate family is associated or has an ownership interest, and certain creditors and real estate holdings of the individual or a member of his or her immediate family. This bill requires this information to be provided for the entire 12-month period preceding and ending on the date for which the information is currently required to be provided.

3. The bill provides that an individual who is required to file a statement of economic interests include in that statement the identity of any person, other than a relative, who owes the individual $5,000 or more; the identity of any person, other than a relative, for whom the individual guaranteed a loan in the amount of $5,000 or more and the identity of the creditor who made the loan; and the identity of any business for which the individual, or a member of his or her immediate family, owns or controls a 5 percent or greater interest.

4. Under current law, an individual's statement of economic interests must identify every organization in which the individual owns securities having a value of $5,000 or more. For reporting purposes, a security does not include a certificate of deposit or a deposit in a financial institution organized in this state. Under the bill, a security also does not include money market funds or mutual funds.

5. Currently, a state public official who serves in office during January of any year and who assumes that office or another state public office in that same month or who is nominated for appointment to that office or another state public office in that same month is subject to the requirement to file a regular statement of economic interests, which must be current to December 31 of the preceding year, as well as a requirement to file a special statement of economic interests, which must be current to the date the official assumes office or the nominee is nominated. This bill provides that such an official or nominee is subject only to a requirement to file a statement of economic interests that is current to the date on which the official assumes office or the nominee is nominated.

6. This bill requires an official who leaves office and who was subject to the requirement to file a statement of economic interests but who had not done so within the six months prior to leaving office to file a statement of economic interests within 21 days after leaving office. The official must report on the statement of economic interests information for the entire 12-month period beginning one year prior to the date the official leaves office and ending on the date the official leaves office.