The bill amends the Public Officers Financial Disclosure Act in Michigan to enhance the clarity and requirements for financial disclosures by public officers. Key updates include the introduction of definitions for "Blind trust" and "Consumer Price Index," and a change in the filing deadline for annual financial disclosure reports from April 15 to May 15. Additionally, public officers are now required to provide detailed information about their spouse's income and employment, as well as any gifts or travel payments received from lobbyists, thereby increasing transparency and addressing potential conflicts of interest. The Department of State is tasked with creating a standard financial disclosure form by February 13, 2024, and ensuring it is accessible online by March 15, 2025.

The bill also revises the process for filing and processing complaints related to violations of the act, establishing a timeline for notifications and responses, and requiring complainants to certify the factual contentions of their complaints. It introduces a late filing fee structure with a maximum fee of $1,000 and civil fines of up to $2,000 for knowingly submitting incomplete or inaccurate reports. Unpaid fees or fines after 180 days will be referred to the Department of Treasury for collection, and the bill includes provisions for adjusting these amounts for inflation every four years. Importantly, it clarifies that there is no private right of action under this act, making the provided remedies the exclusive means of enforcement.

Statutes affected:
Senate Introduced Bill: 15.703