This bill aims to enhance transparency in campaign finance by requiring all local officials to file statements of economic interest. It modifies existing laws to include local officials in the disclosure requirements, ensuring that they disclose potential conflicts of interest when their official actions could significantly impact their financial interests or those of associated businesses. The bill also establishes specific actions that officials must take in the event of a conflict, including preparing written statements and filing them with the appropriate governing bodies. Additionally, it introduces penalties for late disclosures and clarifies the filing process for statements of economic interest.

Key amendments include the insertion of language that expands the definition of public officials to include local officials and political subdivisions, as well as modifications to the reporting periods and filing locations for statements of economic interest. The bill specifies that local candidates must file their statements with the governing body of their political subdivision, and it sets a clear timeline for filing these statements based on various circumstances, such as accepting employment or assuming office. The act is set to take effect on January 1, 2027.

Statutes affected:
Introduction: 10A.07, 10A.08, 10A.09