Bill Text: HI HB608 | 2014 | Regular Session | Introduced
Bill Title: Financial Disclosures; Filing Deadline
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Introduced - Dead) 2013-12-18 - Carried over to 2014 Regular Session. [HB608 Detail]
Download: Hawaii-2014-HB608-Introduced.html
HOUSE OF REPRESENTATIVES |
H.B. NO. |
608 |
TWENTY-SEVENTH LEGISLATURE, 2013 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO FINANCIAL DISCLOSURES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to address financial disclosures. Specifically, this Act requires financial disclosures by legislators and certain other state officers and employees to be filed by February 15 of each year. The legislature finds that the February 15 filing deadline will enable the public to better discern whether any legislator or other state officer or employee has a potential conflict of interest during a regular legislative session.
SECTION 2. Section 84-17, Hawaii Revised Statutes, is amended as follows:
1. By amending subsections (a) and (b) to read:
"(a) For the purposes of this section, the terms:
"Disclosure period" [refers to]
means the period from January 1 to December 31 of the [preceding]
calendar year [to] preceding the [time of] deadline for
the filing of the employee's or legislator's disclosure of financial interests.
"Substantially the same" refers to no more than ten amendments or changes to the information reported for the preceding disclosure period.
(b) The disclosure of financial interest required by this section shall be filed:
(1) Between January 1 and [May 31] February
15 of each year;
(2) Within thirty days of one's election or appointment to a state position enumerated in subsection (c); or
(3) Within thirty days of separation from a state position if a prior financial disclosure statement for the position was not filed within the one hundred eighty days preceding the date of separation;
provided that candidates for state elective offices or the constitutional convention shall file the required statements no later than twenty days prior to the date of the primary election for state offices or the election of delegates to the constitutional convention."
2. By amending subsection (f) to read:
"(f) Candidates for state elective offices, including candidates for election to the constitutional convention, shall only be required to disclose their own financial interests. The disclosures of financial interests of all other persons designated in subsection (c) shall state, in addition to the financial interests of the person disclosing, the financial interests of the person's spouse and dependent children. All disclosures shall include:
(1) The source and amount of all income of $1,000 or
more received, for services rendered, by the person in the person's own name or
by any other person for the person's use or benefit during the [preceding
calendar year] disclosure period and the nature of the services
rendered; provided that information that may be privileged by law or individual
items of compensation that constitute a portion of the gross income of the
business or profession from which the person derives income need not be
disclosed;
(2) The amount and identity of every ownership or beneficial interest held during the disclosure period in any business having a value of $5,000 or more or equal to ten per cent of the ownership of the business and, if the interest was transferred during the disclosure period, the date of the transfer; provided that an interest in the form of an account in a federal or state regulated financial institution, an interest in the form of a policy in a mutual insurance company, or individual items in a mutual fund or a blind trust, if the mutual fund or blind trust has been disclosed pursuant to this paragraph, need not be disclosed;
(3) Every officership, directorship, trusteeship, or other fiduciary relationship held in a business during the disclosure period, the term of office and the annual compensation;
(4) The name of each creditor to whom the value of $3,000 or more was owed during the disclosure period and the original amount and amount outstanding; provided that debts arising out of retail installment transactions for the purchase of consumer goods need not be disclosed;
(5) The street address and, if available, the tax map
key number, and the value of any real property in which the person holds an
interest whose value is $10,000 or more, and, if the interest was transferred
or obtained during the disclosure period, a statement of the amount and nature
of the consideration received or paid in exchange for [such] the interest,
and the name of the person furnishing or receiving the consideration; provided
that disclosure shall not be required of the street address and tax map key
number of the person's residence;
(6) The names of clients personally represented before state agencies, except in ministerial matters, for a fee or compensation during the disclosure period and the names of the state agencies involved; and
(7) The amount and identity of every creditor interest in an insolvent business held during the disclosure period having a value of $5,000 or more."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2013.
INTRODUCED BY: |
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Report Title:
Financial Disclosures; Filing Deadline
Description:
Changes the deadline for financial disclosure filings by state legislators and certain other state officers and employees from May 31 to February 15. Amends the definition of "disclosure period" to mean the January to December calendar year prior to the filing deadline.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.