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 the information required in these statements, such as the identification of employers and sources of income exceeding $1,000 annually, while removing the previous threshold of $12,500 for certain disclosures. Additionally, the definition of "investment or holding" is expanded to include various financial instruments, and it specifies that publicly traded businesses need only provide their stock symbol instead of a full address. The bill also clarifies that the Arkansas Ethics Commission retains the authority to conduct investigations related to these statements.

Furthermore, the bill introduces a new section that criminalizes the unlawful use of information contained in a statement of financial interest. This offense is defined as using such information to commit a crime against the individual filing the statement, their family members, or businesses in which they hold significant stock. Violating this provision is classified as a Class A misdemeanor, thereby establishing legal consequences for misuse of financial disclosure information.

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