The General Assembly Raised Bill No. 1296 aims to amend the State Code of Ethics for public officials by expanding the requirements for filing statements of financial interests. Specifically, it mandates that members of boards, commissions, committees, and councils within the Executive Department who have the authority to enter into or approve large state construction or procurement contracts must file these statements electronically with the Office of State Ethics. This requirement is in addition to existing obligations for state-wide elected officers, members of the General Assembly, and department heads. The bill also stipulates that each state agency, department, board, and commission must develop and implement an ethics statement relevant to their mission, with the executive head responsible for its enforcement.

Furthermore, the bill modifies the information required in the statements of financial interests. It allows for the disclosure of the names of certain tax-sheltered annuity retirement plans instead of specific securities held within those plans, thereby simplifying the reporting process for individuals. The proposed changes include the insertion of new language regarding the filing requirements and the types of financial interests that must be reported, while deleting outdated provisions. The act is set to take effect on October 1, 2025.