The bill amends the financial disclosure requirements for certain elected officials in Louisiana, specifically regarding the reporting of 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, and various types of life insurance products.

The updated language also specifies that the financial statements must include a brief description, fair market value, and location of each parcel of immovable property in which the individual or spouse has an interest, provided the value exceeds the new threshold. Furthermore, it outlines the requirements for reporting investment securities and transactions involving tax credit certificates, stocks, bonds, and commodities futures, while excluding certain financial products from disclosure. The bill is set to 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)