The bill amends Sections 36-25-14 and 36-25-15 of the Code of Alabama 1975 to strengthen the requirements for candidates filing statements of economic interests with the State Ethics Commission. It mandates that all candidates must file their statements in accordance with Section 36-25-15, rather than on the date they submit their qualifying papers, as was previously required. The bill also clarifies that public employees earning less than $75,000 annually are exempt from filing these statements. Additionally, it introduces a provision allowing undercover law enforcement officers to keep their residential addresses and family member names confidential for safety reasons.

Furthermore, the bill introduces new financial disclosure requirements for public officials and candidates, including the reporting of real estate holdings, rental income, and any indebtedness to Alabama businesses. It specifies that public officials must disclose detailed information about rental agreements with governmental agencies. The bill establishes penalties for late disclosures, including daily fines and potential misdemeanor charges for intentional violations. Candidates must file a completed statement of economic interests within five days of declaring their candidacy, and those who fail to do so will not appear on the ballot unless granted an extension. The act is set to take effect on October 1, 2025.

Statutes affected:
Introduced: 36-25-14, 36-25-15
Enrolled: 36-25-14, 36-25-15