The bill amends Sections 36-25-14 and 36-25-15 of the Code of Alabama 1975 to enhance the requirements for candidates filing statements of economic interests with the State Ethics Commission. It specifies 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 previously required. Additionally, it clarifies that public employees earning less than $75,000 annually are not required to file such statements, and it exempts coaches of athletic teams at four-year institutions receiving state funds from disclosing certain income and benefits related to their employment contracts. The bill also modifies the reporting requirements for occupations, stating that candidates must report if one-third or more of their working time is spent in a particular occupation.

Furthermore, the bill introduces new financial disclosure requirements for public officials, mandating the reporting of real estate holdings and rental income in specified categorical amounts, as well as a listing of indebtedness to financial institutions. It establishes a compliance notification process for officials who fail to file required information, allowing them 10 days to comply before facing potential fines. For candidates, the bill changes the filing timeline for statements of economic interests to within five days of declaring candidacy and requires proof of prior submissions if applicable. Non-compliance will result in candidates being barred from appearing on the ballot, although a five-day extension may be granted for good cause. 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