An Act To Improve Laws Governing Financial Disclosure by Legislators and Certain Public Employees and Public Access to Information Disclosed
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 1 MRSA §1016-G, sub-§1, ¶¶C, E and K, as enacted by PL 2011, c. 634, §11, are amended to read:
C. The name, address and principal economic or business activity of any corporation, partnership, limited liability company or other business in which the Legislator or members of the Legislator's immediate family own or control, directly or indirectly, more than 50% 5% of the outstanding equity, whether individually or in the aggregate, that has received revenue of $2,000 or more;
E. Each source of income of $2,000 or more received by the Legislator and a description of the nature of the income, such as rental income, dividend income and capital gains;
K. Each party as defined in Title 21-A, section 1, subsection 28, including a party committee, and each organization that is required under Title 21-A, chapter 13 to register with the commission as a political action committee or ballot question committee for which the Legislator or a member of the Legislator's immediate family is a treasurer, principal officer or principal fund-raiser or decision maker;
Sec. 2. 1 MRSA §1016-G, sub-§§4 and 5, as enacted by PL 2011, c. 634, §11, are amended to read:
Sec. 3. 5 MRSA §19, sub-§2, ¶¶H, J and P, as enacted by PL 2011, c. 634, §19, are amended to read:
H. The name, address and principal economic or business activity of any corporation, partnership, limited liability company or other business in which the executive employee or members of the employee's immediate family own or control, directly or indirectly, more than 50% 5% of the outstanding equity, whether individually or in the aggregate, that has received revenue of $2,000 or more;
J. Each additional source of income of $2,000 or more received by the executive employee and a description of the nature of the income, such as rental income, dividend income and capital gains;
P. Each party as defined in Title 21-A, section 1, subsection 28, including a party committee, and each organization that is required under Title 21-A, chapter 13 to register with the commission as a political action committee or ballot question committee for which the executive employee or a member of the executive employee's immediate family is a treasurer, principal officer or principal fund-raiser or decision maker of the organization;
Sec. 4. 5 MRSA §19, sub-§5, as amended by PL 2007, c. 704, §8, is further amended to read:
Sec. 5. 5 MRSA §19, sub-§6, as amended by PL 2007, c. 704, §9, is further amended to read:
summary
This bill amends financial disclosure laws applicable to Legislators and certain executive branch employees. Annual income received of $2,000 or more must include a description as to the nature of the income. Ownership interests of 5% or more in business entities must be reported. Involvement as a responsible officer of a political party or political committee by the Legislator or executive employee, or by a member of that person's immediate family, must be reported. The Commission on Governmental Ethics and Election Practices is directed to adopt rules that require reporting of income of $2,000 or more in ranges. Finally, Legislators and executive employees are required to file their disclosure statements electronically and those statements must be on a publicly accessible website.