The bill amends Arkansas law regarding statements of financial interest, specifically updating provisions from Initiated Act 1 of 1988. Key changes include the clarification of income reporting requirements, where public servants or candidates must disclose each employer and any source of gross income exceeding $1,000 annually, along with a brief description of the services provided. The bill removes previous thresholds for income disclosure and introduces a more detailed definition of "investment or holding," which encompasses various financial instruments while excluding certain government securities and managed investments. Additionally, it specifies that if a business is publicly traded, only the stock symbol needs to be reported instead of the business address.

Furthermore, the bill establishes a new section addressing the unlawful use of information contained in financial interest statements. It defines the offense as using this information to commit crimes against the filer, their family, or businesses in which they hold significant stock. Violating this provision is classified as a Class A misdemeanor. The bill also clarifies that it does not limit the Arkansas Ethics Commission's authority to conduct investigations related to these statements.

Statutes affected:
SB 395: 21-8-701(d), 21-8-701