Bill Text: NJ A524 | 2010-2011 | Regular Session | Introduced
Bill Title: Requires all elected officials and candidates and certain other public officials to file financial disclosure statement.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced - Dead) 2010-01-12 - Introduced, Referred to Assembly State Government Committee [A524 Detail]
Download: New_Jersey-2010-A524-Introduced.html
STATE OF NEW JERSEY
214th LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2010 SESSION
Sponsored by:
Assemblywoman AMY H. HANDLIN
District 13 (Middlesex and Monmouth)
Assemblywoman MARY PAT ANGELINI
District 11 (Monmouth)
Assemblyman DAVID P. RIBLE
District 11 (Monmouth)
SYNOPSIS
Requires all elected officials and candidates and certain other public officials to file financial disclosure statement.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel
An Act concerning the filing of a financial disclosure statement by elected officials and candidates and certain other public officials, amending various parts of the statutory law and supplementing P.L.1971, c.182.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. (New section) a. Every person holding State or local elective public office in this State, and every public official identified in subsection d. of this section shall file, after January 1 and before April 15 of each year, a sworn and duly notarized financial disclosure statement for the preceding calendar year. Any such person or official whose office, appointment or employment terminates shall file a financial disclosure statement for the portion of the calendar year of termination from January 1 to the termination date. Every candidate for State or local elective public office shall within two weeks of becoming a candidate file a financial disclosure statement for the preceding twelve months. Every person selected to fill a vacancy in a State or local elective office, or appointed or employed as a public official identified in subsection d. of this section shall, within two weeks of being so selected, appointed or employed file a financial disclosure statement for the preceding twelve months.
b. The Governor and public officials of the Executive Branch identified in subsection d. of this section shall file a financial disclosure statement with the Executive Commission on Ethical Standards continued pursuant to P.L.1971, c.182 (C.52:13D-12 et seq.). Members of the Legislature and public officials of the Legislative Branch identified in subsection d. of this section shall file a financial disclosure statement with the Joint Legislative Committee on Ethical Standards continued pursuant to P.L.1971, c.182 (C.52:13D-12 et seq.). Public officials of public institutions of higher education identified in subsection d. of this section shall file a financial disclosure statement with the Commission on Higher Education established pursuant to P.L.1994, c.48 (C.18A:3B-1 et seq.). Local government elected officials shall file a financial disclosure statement with the Local Finance Board in the Division of Local Government Services in the Department of Community Affairs. Candidates for State and local elective public office shall file a financial disclosure statement with the Election Law Enforcement Commission in the Department of Law and Public Safety pursuant to section 2 of P.L.1981, c.129 (C.19:44B-2). Members of a board of education shall file a financial disclosure statement with the School Ethics Commission established pursuant to P.L.1991, c.393 (C.18A:12-21 et seq.). The Executive Commission on Ethical Standards, the Joint Legislative Committee on Ethical Standards, the Commission on Higher Education, the Local Finance Board, the Election Law Enforcement Commission and the School Ethics Commission together shall prescribe the form of a financial disclosure statement for filing purposes.
c. A financial disclosure statement of a candidate or a person selected to fill a vacancy in an elective office or a person appointed or employed as a public official identified in subsection d. of this section filed during the period from January 1 to April 15 shall cover the period from January 1 of the preceding calendar year to the time of candidacy, selection, appointment or employment if the filing of the statement would relieve the person of a prior obligation to file a statement covering the entire preceding calendar year.
No person shall be required to file a financial disclosure statement for a period of time for which a financial disclosure statement has been previously filed.
d. For the purpose of this section, "public official" means each professional staff member of the Legislature, each president and member of the board of trustees of each public institution of higher education in this State, each member of the board of governors of Rutgers, the State University, and each person holding any of the following offices or positions of employment in the Executive Branch of State government, together with any offices added to such list by executive order:
(1) the head of each principal department when such head is a single executive;
(2) the assistant or deputy heads of each principal department, including all assistant and deputy commissioners of such department;
(3) the head and assistant heads of a division of each principal department, or any person exercising substantially similar authority for: (a) any board or commission which is organized as in but not of a principal department, or (b) any independent authority;
(4) the executive or administrative head and assistant heads of (a) any board or commission which is organized as in but not of a principal department, or (b) any independent authority;
(5) each professional staff member of the Office of the Governor;
(6) the director and chief administrative law judge of the Office of Administrative Law;
(7) members of the State Board of Agriculture;
(8) members of the State Board of Education;
(9) members of the Board of Public Utilities;
(10) members of the State Parole Board;
(11) the members of the following boards, commissions, independent authorities and public corporations, or their successor organizations, together with any offices or bodies added to such list by executive order:
(a) Agriculture Development Committee;
(b) Atlantic City Convention Center Authority;
(c) Capital City Redevelopment Corporation;
(d) Casino Control Commission;
(e) Casino Reinvestment Development Authority;
(f) Commission on Higher Education;
(g) Council on Affordable Housing;
(h) Educational Facilities Authority;
(i) Election Law Enforcement Commission;
(j) Executive Commission on Ethical Standards;
(k) Hackensack Meadowlands Development Commission;
(l) Hazardous Waste Facilities Siting Commission;
(m) Health Care Administration Board;
(n) Health Care Facilities Financing Authority;
(o) Local Finance Board;
(p) Merit System Board;
(q) New Jersey Building Authority;
(r) New Jersey Commission on Science and Technology;
(s) New Jersey Economic Development Authority;
(t) New Jersey Historic Trust;
(u) New Jersey Housing and Mortgage Finance Agency;
(v) New Jersey Low-Level Radioactive Waste Disposal Facility Siting Board;
(w) New Jersey Natural Lands Trust;
(x) New Jersey Public Broadcasting Authority;
(y) New Jersey Racing Commission;
(z) New Jersey Real Estate Commission;
(aa) New Jersey Redevelopment Authority;
(bb) New Jersey Sports and Exposition Authority;
(cc) New Jersey State Council on the Arts;
(dd) New Jersey Transit Corporation;
(ee) New Jersey Transportation Trust Fund Authority;
(ff) New Jersey Turnpike Authority;
(gg) New Jersey Urban Enterprise Zone Authority;
(hh) New Jersey Water Supply Authority;
(ii) North Jersey District Water Supply Commission;
(jj) Passaic Valley Sewerage Commissioners;
(kk) Pinelands Commission;
(ll) Public Employment Relations Commission;
(mm) School Ethics Commission;
(nn) Shell Fisheries Council;
(oo) South Jersey Food Distribution Authority;
(pp) South Jersey Transportation Authority;
(qq) State Athletic Control Board;
(rr) State Lottery Commission;
(ss) State Planning Commission;
(tt) Tidelands Resource Council;
(uu) Wastewater Treatment Trust; and
(vv) Wetlands Mitigation Council; and
(12) each individual appointed as a New Jersey member to the following interstate agencies:
(a) Atlantic States Marine Fisheries Commission;
(b) Clean Ocean and Shore Trust Committee;
(c) Delaware River and Bay Authority;
(d) Delaware River Basin Commission;
(e) Delaware River Joint Toll Bridge Commission;
(f) Delaware River Port Authority;
(g) Delaware Valley Regional Planning Commission;
(h) Interstate Sanitation Commission;
(i) Northeast Interstate Low Level Radioactive Waste Commission;
(j) Palisades Interstate Park Commission;
(k) Port Authority of New York and New Jersey;
(l) Port Authority Trans-Hudson Corporation;
(m) South Jersey Port Corporation; and
(n) Waterfront Commission of New York Harbor.
"Public official" also means a person holding an office or position of employment of the Executive Branch not specified above, but which is functionally equivalent to any of those offices. Functional equivalence shall be determined by the Chief Counsel to the Governor, the head of each principal department, the head of each agency, board or commission in but not of a principal department or the head of each independent authority, as appropriate, in consultation with the Executive Commission on Ethical Standards.
e. For the purpose of this act the "immediate family" of any person means the person's spouse, child, parent or sibling residing in the same household.
2. (New section) a. The financial disclosure statement required by section 1 of this act, P.L. , c. (C. ) (pending before the Legislature as this bill), shall disclose for the individual filing and for members of the individual's immediate family:
(1) Occupation, name of employer, and business address.
(2) Each bank or savings account or insurance policy in which any such individual or persons owned a direct financial interest that exceeded $5,000 at any time during the reporting period; each other item of intangible personal property in which any such individual or persons owned a direct financial interest, the value of which exceeded $500 during the reporting period; the name, address, and nature of the entity; and the nature and highest value of each such direct financial interest during the reporting period.
(3) The name and address of each creditor to whom the value of $500 or more was owed; the original amount of each debt to each such creditor; the amount of each debt owed to each creditor as of the date of filing; the terms of repayment of each such debt; and the security given, if any, for each such debt; except that debts arising out of a "retail installment contract" or "retail charge account," as defined in section 1 of P.L.1960, c.40 (C.17:16C-1), need not be reported.
(4) Every public or private office, directorship, and trustee position held.
(5) All persons for whom any legislation, rule, regulation, rate, or standard was prepared, promoted or opposed for current or deferred compensation, except that for the purposes of this paragraph, "compensation" does not include payments made to the individual reporting by the governmental entity for which such individual served as an elected official for service in office; the description of such actual or proposed legislation, rules, regulations, rates or standards; and the amount of current or deferred compensation paid or promised to be paid.
(6) The name and address of each governmental entity, corporation, partnership, joint venture, sole proprietorship, association, union, or other business or commercial entity from which compensation was received in any form of a total value of $500 or more; the value of the compensation and the consideration given or performed in exchange for the compensation.
(7) The name of any corporation, partnership, joint venture, association, union or other entity in which was held any office, directorship, any general partnership interest, or an ownership interest of 10% or more; the name or title of that office, directorship, or partnership; the nature of ownership interest; and with respect to each such entity: (a) with respect to a governmental unit in which the individual seeks or holds any office or position, if the entity has received compensation in any form during the preceding 12 months from the governmental unit, the value of the compensation and the consideration given or performed in exchange for the compensation; (b) the name of each governmental unit, corporation, partnership, joint venture, sole proprietorship, association, union, or other business or commercial entity from which the entity received compensation in any form in the amount of $2,500 or more during the preceding 12 months and the consideration given or performed in exchange for the compensation; except, the term "compensation" for purposes of this paragraph (b) does not include payment for water and other utility services at rates approved by the Board of Public Utilities continued pursuant to R.S.48:2-1; and except, with respect to any bank or commercial lending institution in which is held any office, directorship, partnership interest, or ownership interest, it shall only be necessary to report either the name, address, and occupation of every director and officer of the bank or commercial lending institution and the average monthly balance of each account held during the preceding 12 months by the bank or commercial lending institution from the governmental entity for which the individual seeks or holds any office or position, and all interest paid as a borrower on loans from, and all interest paid by, the bank or commercial lending institution if the interest exceeds $600.
(8) A list, including legal or other sufficient descriptions as prescribed for the financial disclosure statement, of all real property in the State of New Jersey, the assessed valuation of which exceeds $2,500, in which a direct financial interest was acquired during the preceding calendar year, and a statement of the amount and nature of the financial interest and of the consideration given in exchange for that interest.
(9) A list, including legal or other sufficient descriptions as prescribed for the financial disclosure statement, of all real property in the State of New Jersey, the assessed valuation of which exceeds $2,500, in which a direct financial interest was divested during the preceding calendar year, and a statement of the amount and nature of the consideration received in exchange for that interest, and the name and address of the person furnishing the consideration.
(10) A list, including legal or other sufficient descriptions as prescribed for the financial disclosure statement, of all real property in the State of New Jersey, the assessed valuation of which exceeds $2,500, in which a direct financial interest was held; except that if a description of the property was included in a report previously filed, the property may be listed, for the purposes of this paragraph, by reference to the previously filed report.
(11) A list, including legal or other sufficient descriptions as prescribed for the financial disclosure statement, of all real property in the State of New Jersey, the assessed valuation of which exceeds $5,000, in which a corporation, partnership, firm, enterprise or other entity had a direct financial interest, in which corporation, partnership, firm, enterprise or entity a 10% or greater ownership interest was held.
(12) A list of each occasion, specifying date, donor and amount, at which food and beverage in excess of $50 was accepted on occasions in the ordinary course of meals when attendance by the elected official was related to the performance of official duties.
(13) A list of each occasion, specifying date, donor and amount, at which (a) payment by a governmental or nongovernmental entity of reasonable expenses incurred in connection with a speech, presentation, appearance or trade mission made in an official capacity, and (b) payment of enrollment and courses fee and reasonable travel expenses attributable to attending seminars and educational programs sponsored by a bona fide governmental or nonprofit professional, educational, trade or charitable association or institution, was accepted, where "reasonable expenses" include travel, lodging and subsistence expenses incurred the day before through the day after the event.
(14) Such other information as the Executive Commission on Ethical Standards, the Joint Legislative Committee on Ethical Standards, the Commission on Higher Education, the Local Finance Board, the Election Law Enforcement Commission and the School Ethics Commission may deem necessary in order to properly carry out the purposes and policies of this act, P.L. , c. (C. ) (now before the Legislature as this bill), and shall prescribe by regulation.
b. When an amount is required to be reported under paragraphs (1) through (13) of subsection a. of this section, it shall be sufficient to comply with the requirement to report whether the amount is less than $1,000, at least $1,000 but less than $5,000, at least $5,000 but less than $10,000, at least $10,000 but less than $25,000, or $25,000 or more. An amount of stock may be reported by number of shares instead of by market value. No provision of this subsection shall be interpreted to prevent any individual from filing more information or more detailed information than required.
c. Items of value given to an elected official's immediate family member are attributable to the official, except the item is not attributable if an independent business, family or social relationship exists between the donor and the family member.
3. (New section) No payment shall be made to a person required to file a financial affairs statement under section 1 of this act, P.L. , c. (C. ) (now before the Legislature as this bill), and no payment shall be accepted by any such filing person, directly or indirectly, in a fictitious name, anonymously, or by one person through an agent, relative or other person in such a manner as to conceal the identity of the source of the payment or in any other manner so as to effect concealment except that the entity with which the financial disclosure statement is filed may issue categorical and specific exemptions to the reporting of the actual source when there is an undisclosed principal for recognized legitimate business purposes.
4. Section 58 of P.L.1977, c.110 (C.5:12-58) is amended to read as follows:
58. a. Deleted by amendment.
b. No person shall be appointed to or employed by the commission or division if, during the period commencing three years prior to appointment or employment, said person held any direct or indirect interest in, or any employment by, any person which is licensed as a casino licensee pursuant to section 87 of P.L.1977, c.110 (C.5:12-87) or as a casino service industry pursuant to subsection a. of section 92 of P.L.1977, c.110 (C.5:12-92) or has an application for such a license pending before the commission; provided, however, that notwithstanding any other provision of this act to the contrary, any such person may be appointed to or employed by the commission or division if his interest in any such casino licensee or casino service industry which is publicly traded would not, in the opinion of the employing agency, interfere with the objective discharge of such person's employment obligations, but in no instance shall any person be appointed to or employed by the commission or division if his interest in such a casino licensee or casino service industry which is publicly traded constituted a controlling interest in that casino licensee or casino service industry; and provided further, however, that notwithstanding any other provision of this act to the contrary, any such person may be employed by the commission or division in a secretarial or clerical position if, in the opinion of the employing agency, his previous employment by, or interest in, any such casino licensee or casino service industry would not interfere with the objective discharge of such person's employment obligations.
c. Prior to appointment or employment, each member of the commission, each employee of the commission, the director of the Division of Gaming Enforcement and each employee and agent of the division shall swear or affirm that he possesses no interest in any business or organization licensed by or registered with the commission.
d. Each member of the commission and the director of the division shall file with the Executive Commission on Ethical Standards a [financial disclosure statement listing all assets and liabilities, property and business interests, and sources of income of said member or director and his spouse and shall provide to the Executive Commission on Ethical Standards a financial disclosure statement listing all assets and liabilities, property and business interests, and sources of income of the parents, brothers, sisters, and children of said member or director. Such statement shall be under oath and shall be filed at the time of appointment and annually thereafter] financial disclosure statement pursuant to section 1 of P.L. , c. (C. )(now before the Legislature as this bill).
e. Each employee of the commission, except for secretarial and clerical personnel, and each employee and agent of the division, except for secretarial and clerical personnel, shall file with the Executive Commission on Ethical Standards a financial disclosure statement listing all assets and liabilities, property and business interests, and sources of income of said employee or agent and his spouse. Such statement shall be under oath and shall be filed at the time of employment and annually thereafter.
(cf: P.L.1991, c.182, s.12)
5. Section 6 of P.L.1991, c.393 (C.18A:12-26) shall be amended to read as follows:
6. a. Each school official shall annually file a financial disclosure statement with the School Ethics Commission , provided that a school official who is required to file a financial disclosure statement with the School Ethics Commission pursuant to section 1 of P.L. , c. (C. )(now before the Legislature as this bill) shall not be required to file a financial disclosure statement pursuant to this section. All financial disclosure statements filed pursuant to this act shall include the following information which shall specify, where applicable, the name and address of each source and the school official's position:
(1) Each source of income, earned or unearned, exceeding $2,000 received by the school official or a member of his immediate family during the preceding calendar year. Individual client fees, customer receipts or commissions on transactions received through a business organization need not be separately reported as sources of income. If a publicly traded security or interest derived from a financial institution is the source of income, the security or interest derived from a financial institution need not be reported unless the school official or member of his immediate family has an interest in the business organization or financial institution;
(2) Each source of fees and honorariums having an aggregate amount exceeding $250 from any single source for personal appearances, speeches or writings received by the school official or a member of his immediate family during the preceding calendar year;
(3) Each source of gifts, reimbursements or prepaid expenses having an aggregate value exceeding $250 from any single source, excluding relatives, received by the school official or a member of his immediate family during the preceding calendar year; and
(4) The name and address of all business organizations in which the school official or a member of his immediate family had an interest during the preceding calendar year.
b. The commission shall prescribe a financial disclosure statement form for filing purposes. Initial financial disclosure statements shall be filed within 90 days following the effective date of this act. Thereafter, statements shall be filed on or before April 30th each year.
c. All financial disclosure statements filed shall be public records.
(cf: P.L.1991, c.393, s.6)
6. Section 2 of P.L.1981, c.129 (C.19:44B-2) is amended to read as follows:
2. Every candidate for [the office of Governor and every candidate for the
Senate or General Assembly] a State or local
elective public office shall file [and
certify the correctness of a financial disclosure statement on or before the
tenth day following the last day for filing a petition to appear on the ballot,
and the financial disclosure statement shall be filed]
with the Election Law Enforcement Commission in the Department of Law and
Public Safety a financial disclosure statement pursuant to section 1 of
P.L. , c. (C. )(now
before the Legislature as this bill).
(cf: P.L.1981, c.129, s.2)
7. Section 3 of P.L.1981, c.129 (C.19:44B-3) is amended to read as follows:
3. The commission shall prepare and transmit to each candidate for [the office of Governor and to each candidate for the Senate or General Assembly] State or local elective public office forms for the filing of financial disclosure statements required by this act.
(cf: P.L.1981, c.129, s.3)
8. Section 5 of P.L.1981, c.129 (C.19:44B-5) is amended to read as follows:
5. a. Upon receipt from any person of a declaration of candidacy or a petition to appear on the ballot for [election as Governor or as a member of the Legislature] State or local elective public office, the [Secretary of State] Attorney General, county clerk or municipal clerk, as appropriate, shall, within 2 days of the receipt, notify the commission of the name and address of the candidate and the date of the receipt.
(cf: P.L.1981, c.129, s.5)
9. Section 5 of P.L.1991, c.252 (C.27:25A-5) is amended to read as follows:
5. a. The authority shall consist of the Commissioner of Transportation who shall be an ex officio voting member, the Commissioner of Commerce, Energy and Economic Development who shall be an ex officio nonvoting member, and seven members appointed by the Governor with the advice and consent of the Senate, six of whom are residents of South Jersey, four of whom shall be residents of that portion of South Jersey within a 30 mile radius of the civil aviation terminal at the Atlantic City International Airport or of municipalities through which the Atlantic City Expressway traverses and two of whom shall be residents of that portion of South Jersey outside of a 30 mile radius of that terminal; provided that all of the appointed members shall have expertise in transportation, finance, law, public administration, or aviation or any other related field. Not more than four of the appointed members shall be members of the same political party. Each appointed member shall have been a qualified voter of the State for at least one year preceding the appointment.
b. Each ex officio member of the authority may designate an employee of the member's department to represent the member at meetings of the authority. The designee of the commissioner may lawfully vote and otherwise act on behalf of the member. The designation shall be made annually in writing and delivered to the authority and shall be effective until revoked or amended by written notice delivered to the authority.
c. Each appointed member of the authority shall serve for a term of five years, except that, of those first appointed, one shall serve for a term of two years, two shall serve for a term of three years, two shall serve for a term of four years and two shall serve for a term of five years, as the Governor may designate upon appointment.
d. Each member appointed by the Governor shall hold office for the term of appointment and until a successor is appointed and qualified. A member shall be eligible for reappointment. Any vacancy in the membership occurring other than by expiration of term shall be filled in the same manner as the original appointment but for the unexpired term only.
e. The Governor shall designate one of the members of the authority as chairperson who shall serve as such at the pleasure of the Governor. The authority, upon the first appointment of its members and thereafter on or after July 1 in each year, shall annually elect from among its members, including the ex officio voting member, a vice-chairperson who shall hold office until July 1 next ensuing and until a successor is elected. The authority may also appoint and employ, without regard to the provisions of Title 11A of the New Jersey Statutes, a secretary, a chief financial officer, an executive director, a general counsel and a chief engineer and other consulting engineers, special attorneys or counsel, accountants, construction, legal and financial experts, and other agents and employees as the authority may require, and shall determine their qualifications, terms of office, duties and compensation, except (1) the authority shall not enter into a contract of employment for the position of executive director or other policy-making positions for a term of employment ending later than the last day of the four-year gubernatorial term in effect on the date on which the contract is executed, provided the authority may continue to employ, at its pleasure, the executive director or other employee subject to the provisions of this paragraph after the termination of an employment contract until such time as a contract of employment for that position is executed and (2) those employees not subject to the "New Jersey Employer-Employee Relations Act," P.L.1941, c.100 (C.34:13A-1 et seq.) shall receive (a) sick and vacation leave only as provided for State employees in Title 11A of the New Jersey Statutes and if supplemental compensation upon retirement is to be paid, it shall be calculated and limited as in N.J.S.11A:6-19 and (b) health benefits no greater than the level of benefits provided to State employees pursuant to the "New Jersey State Health Benefits Program Act," P.L.1961, c.49 (C.52:14-17.25 et seq.).
f. The powers of the authority shall be vested in the voting members thereof in office from time to time; five voting members of the authority shall constitute a quorum and the affirmative vote of five members shall be necessary for any action taken by the authority unless the bylaws of the authority shall require a larger number. No vacancy in the membership of the authority shall impair the right of a quorum to exercise all the rights and perform all the duties of the authority.
g. The members of the authority shall serve without compensation, but the authority may reimburse its members for actual and necessary expenses incurred in the discharge of their duties. Notwithstanding the provisions of any other law, no member of the authority shall be deemed to have forfeited nor shall forfeit the member's office or employment or any benefits or emoluments thereof by reason of the member's service as ex officio member of the authority.
h. Each appointed member of the authority may be removed by the Governor for cause after a public hearing and may be suspended by the Governor pending the completion of the hearing. Each member of the authority before entering upon the duties of office shall take and subscribe an oath to perform the duties of the office faithfully, impartially and justly to the best of the member's ability. A record of these oaths shall be filed in the office of the Secretary of State. Each member of the authority [,] and the executive director [and other] shall file a financial disclosure statement pursuant to section 1 of P.L. , c. (C. )(now before the Legislature as this bill). Other employees as the authority may require shall file annually with the Secretary of State a financial disclosure statement in the manner required by Executive Order No. 1 of 1990.
i. The authority may be dissolved by act of the Legislature on condition that the authority has no debts or obligations outstanding or provision has been made for the payment, retirement, termination or assumption of its debts and obligations. Upon dissolution of the authority all property, funds and assets thereof shall be vested in the State.
(cf: P.L.1991, c.252, s.5)
10. Section 6 of P.L.1991, c.29 (C.40A:9-22.6) is amended to read as follows:
6. a. Local government officers shall annually file a financial disclosure statement. [All] With the exception of a financial disclosure statement filed by a local government officer with the Local Finance Board pursuant to section 1 of P.L. , c (C. )(now before the Legislature as this bill), all financial disclosure statements filed pursuant to this act shall include the following information which shall specify, where applicable, the name and address of each source and the local government officer's job title:
(1) Each source of income, earned or unearned, exceeding $2,000 received by the local government officer or a member of his immediate family during the preceding calendar year. Individual client fees, customer receipts or commissions on transactions received through a business organization need not be separately reported as sources of income. If a publicly traded security is the source of income, the security need not be reported unless the local government officer or member of his immediate family has an interest in the business organization;
(2) Each source of fees and honorariums having an aggregate amount exceeding $250 from any single source for personal appearances, speeches or writings received by the local government officer or a member of his immediate family during the preceding calendar year;
(3) Each source of gifts, reimbursements or prepaid expenses having an aggregate value exceeding $400 from any single source, excluding relatives, received by the local government officer or a member of his immediate family during the preceding calendar year;
(4) The name and address of all business organizations in which the local government officer or a member of his immediate family had an interest during the preceding calendar year; and
(5) The address and brief description of all real property in the State in which the local government officer or a member of his immediate family held an interest during the preceding calendar year. b. The Local Finance Board shall prescribe a financial disclosure statement form for filing purposes. For counties and municipalities which have not established ethics boards, the board shall transmit sufficient copies of the forms to the municipal clerk in each municipality and the county clerk in each county for filing in accordance with this act. The municipal clerk shall make the forms available to the local government officers serving the municipality. The county clerk shall make the forms available to the local government officers serving the county.
For counties and municipalities which have established ethics boards, the Local Finance Board shall transmit sufficient copies of the forms to the ethics boards for filing in accordance with this act. The ethics boards shall make the forms available to the local government officers within their jurisdiction.
For local government officers serving the municipality, the original statement shall be filed with the municipal clerk in the municipality in which the local government officer serves. For local government officers serving the county, the original statement shall be filed with the county clerk in the county in which the local government officer serves. A copy of the statement shall be filed with the board. In counties or municipalities which have established ethics boards a copy of the statement shall also be filed with the ethics board having jurisdiction over the local government officer. Local government officers shall file the initial financial disclosure statement within 90 days following the effective date of this act. Thereafter, statements shall be filed on or before April 30th each year.
c. All financial disclosure statements filed shall be public records. (cf: P.L.1991, c.29, s.6)
11. Sections 1 and 4 of P.L.1981, c.129 (C.19:44B-1 and C.19:44B-4) are repealed.
12. This act shall take effect on the 90th day after enactment.
STATEMENT
This bill requires every person elected to State or local public office, every candidate for elective office, every person selected to fill a vacancy in an elective office, every member of the professional staff of the Legislature and the Office of the Governor, all high ranking officials of the Executive Branch of State Government, members and certain staff of various commissions, independent authorities and bi-state agencies, and the heads of public institutions of higher education to file a detailed, sworn, and duly notarized financial disclosure statement for the preceding calendar year. The statement will disclose the financial affairs of the reporting individual and each member of the individual's immediate family, which includes the individual's spouse, child, parent or sibling residing in the same household
The Governor and public officials of the Executive Branch will file their financial disclosure statements with the Executive Commission on Ethical Standards; members of the Legislature and professional staff of the Legislative Branch will file their financial disclosure statements with the Joint Legislative Committee on Ethical Standards; officials of public institutions of higher education will file their financial disclosure statements with the Commission on Higher Education; local government elected officials will file their financial disclosure statements with the Local Finance Board in the Division of Local Government Services in the Department of Community Affairs; candidates for State and local elective public office will file their financial disclosure statements with the Election Law Enforcement Commission in the Department of Law and Public Safety; and members of a board of education will file their financial disclosure statements with the School Ethics Commission.
The financial information to be disclosed includes: (1) occupation, name of employer, and business address; (2) bank accounts that exceeded $5,000 and all other intangible personal property the value of which exceeded $500; (3) names and addresses of creditors to whom the value of $500 or more was owed; (4) every public or private office, directorship, and trustee position held; (5) all persons for whom any legislation, rule, regulation, rate, or standard was prepared, promoted or opposed for current or deferred compensation; (6) names and addresses of each governmental entity, corporation, partnership, joint venture, sole proprietorship, association, union, or other business or commercial entity from which compensation was received in any form of a total value of $500 or more; (7) all business interests; (8) all real property the assessed valuation of which exceeds $2,500 bought and sold during the preceding calendar year, and all such real property in which a direct or indirect financial interest was held; (9) a list of each occasion, specifying date, donor and amount, at which was accepted payments for reasonable expenses incurred in an official capacity, or food and beverage in excess of $50 on occasions in the ordinary course of meals when attendance by the elected official was related to the performance of official duties.
This bill repeals two sections of law pertaining to the content of financial disclosure statements for candidates for State elective public office. Those sections are wholly superseded by the provisions of this bill.
