Senate Bill No. 261, also known as File No. 251, is a legislative proposal that aims to amend the current requirements for filing statements of financial interests under the state's code of ethics for public officials. The bill, effective from October 1, 2024, proposes to expand the list of individuals required to file these statements to include members of any board, commission, committee, or council within the Executive Department, with the exception of advisory board members. This expansion is in addition to the existing requirement for state-wide elected officers, members of the General Assembly, department heads and their deputies, members or directors of each quasi-public agency, members of the Investment Advisory Council, and other officials designated by the Governor.

The bill also modifies the disclosure requirements for certain types of securities held in retirement or savings plans. Specifically, it exempts the disclosure of the names of securities held within a tax-sheltered annuity retirement plan (such as a 403(b) plan) and instead requires only the name of the retirement savings plan to be disclosed. This change aligns with the current practice for other types of retirement and savings plans, such as 401(k) plans and 529 education savings plans. The bill has been reported favorably by the Committee on Government Administration and Elections and includes no fiscal impact to the state, as it can be implemented with existing resources.