The bill amends Sections 36-25-14 and 36-25-15 of the Code of Alabama 1975 to enhance the filing requirements for candidates regarding statements of economic interests with the State Ethics Commission. It establishes a new filing deadline of April 30 each year, aligning it with the annual reporting period for other public officials, and clarifies that candidates must adhere to the provisions of Section 36-25-15. Additionally, the bill modifies income reporting requirements by changing the phrase "one" to "one-third" concerning the time spent on occupations during the previous reporting year, while maintaining existing income thresholds and disclosure categories. Public employees earning less than $75,000 annually are exempt from filing, except for certain specified positions.

Furthermore, the bill introduces new requirements for public officials to provide detailed financial disclosures, including client categories, real estate holdings, and business indebtedness, with specific reporting thresholds. Candidates must submit a completed statement of economic interests within five days of declaring their candidacy, with the stipulation that failure to do so will result in their name being omitted from the ballot, although a five-day extension may be granted for good cause. The bill deletes previous language regarding filing timing related to qualifying papers and clarifies that candidates do not need to file a second statement if one is already on file. The act is set to take effect on October 1, 2025.

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