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 establishes a new filing deadline for candidates, requiring them to submit their statements in accordance with Section 36-25-15 rather than at the time of submitting their qualifying papers. Additionally, the bill specifies that public employees earning less than $75,000 annually are exempt from filing these statements, and it clarifies that coaches at four-year institutions receiving state funds are not required to report certain income and benefits related to their employment contracts. The language in the bill also modifies the reporting requirements, changing "one" to "one-third" regarding the time spent on occupations.

Furthermore, SB165 introduces a structured approach to financial disclosure for public officials and candidates, mandating detailed listings of income, real estate holdings, and indebtedness categorized by monetary thresholds. Candidates must file a completed statement of economic interests within five days of declaring their candidacy, with provisions for independent and municipal candidates. If a candidate fails to submit the required statement, their name will be excluded from the ballot, although a five-day extension may be granted for good cause. The bill also clarifies that candidates who have previously submitted a current statement for other reasons must provide proof of submission or file a new statement. These changes are set to take effect on October 1, 2025, with the overall goal of enhancing transparency and accountability in the financial dealings of public officials and candidates in Alabama.

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