Bill Text: HI SB554 | 2022 | Regular Session | Introduced
Bill Title: Relating To Financial Disclosures.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2021-12-10 - Carried over to 2022 Regular Session. [SB554 Detail]
Download: Hawaii-2022-SB554-Introduced.html
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THE SENATE |
S.B. NO. |
554 |
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THIRTY-FIRST LEGISLATURE, 2021 |
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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 legislature finds that financial disclosures by government officials or board members help identify potential conflicts of interests that may impact their ability to fulfill their duty to the public. The current disclosure requirements call for disclosure of the full extent of their wealth, including financial and business interests. These interests must be disclosed according to nine different dollar amount levels, which range from $1,000 to over $1,000,000. However, these specific disclosure requirements dissuade many individuals from important public service.
The legislature further finds that public disclosure of financial interest dollar amount levels up to $100,000 is adequate to identify potential conflicts of interest and that specific disclosure of financial interest in excess of this amount is unnecessary.
Accordingly, the purpose of this Act is to remove financial interest disclosure levels that exceed $100,000.
SECTION 2. Section 84-17, Hawaii Revised Statutes, is amended by amending subsection (g) to read as follows:
"(g) Where an amount is required to be reported,
the person disclosing may indicate whether the amount is at least $1,000 but
less than $10,000; at least $10,000 but less than $25,000; at least $25,000 but
less than $50,000; at least $50,000 but less than $100,000[; at least
$100,000 but less than $150,000; at least $150,000 but less than $250,000; at
least $250,000 but less than $500,000; at least $500,000 but less than $750,000;
at least $750,000 but less than $1,000,000; or $1,000,000]; or $100,000
or more. An amount of stock may be
reported by number of shares."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Financial Disclosures; Government Officials; Board Members
Description:
Removes the need for government officials and board members to disclose specific financial interest amounts that exceed $100,000.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
