The bill amends the financial disclosure requirements for certain elected officials in Louisiana, specifically regarding their interests in immovable property and investment securities. Key changes include increasing the threshold for reporting interests in immovable property from two thousand dollars to five thousand dollars, as well as raising the reporting threshold for the purchase or sale of immovable property and investment securities from one thousand dollars to five thousand dollars. Additionally, the bill clarifies that disclosures are not required for mutual funds, exchange-traded funds, variable annuities, and various types of life insurance products.

The amendments also specify that the financial statements must include a brief description and fair market value of immovable property interests, as well as details about investment securities exceeding the new five thousand dollar threshold. The bill aims to streamline the reporting process while ensuring transparency among public officials regarding their financial interests. The new provisions will take effect on January 1, 2025.

Statutes affected:
SB30 Original: 42:1124(C)(7, 42:9), 42:2(C)(6, 42:8)
SB30 Engrossed: 42:1124(C)(7, 42:9), 42:2(C)(6, 42:8)
SB30 Enrolled: 42:1124(C)(7, 42:9), 42:2(C)(6, 42:8)
SB30 Act 282: 42:1124(C)(7, 42:9), 42:2(C)(6, 42:8)