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 bill introduces a more detailed definition of "investment or holding," specifying what constitutes these terms and outlining exceptions for publicly traded securities and managed investments. It also mandates that if a business is publicly traded, the stock symbol must be included instead of the business address.

Furthermore, the bill establishes a new section that addresses the unlawful use of information contained in a statement of financial interest. It defines the offense as using this information to commit a crime against the filer, their family, or a business in which the filer has a significant ownership stake. Violating this provision is classified as a Class A misdemeanor. The bill also clarifies that the Arkansas Ethics Commission retains the authority to conduct investigations related to these statements.

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