Bill Text: HI SB1055 | 2020 | Regular Session | Amended
Bill Title: Relating To Financial Disclosure Statements.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Introduced - Dead) 2019-12-01 - Carried over to 2020 Regular Session. [SB1055 Detail]
Download: Hawaii-2020-SB1055-Amended.html
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THE SENATE |
S.B. NO. |
1055 |
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THIRTIETH LEGISLATURE, 2019 |
S.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO FINANCIAL DISCLOSURE STATEMENTS.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that various public officials are required to file annual financial disclosure statements with the state ethics commission. The public disclosure of their sources of income enhances public trust because the disclosure tends to reduce real and perceived conflicts of interest. However, the governor, lieutenant governor, members of the legislature, governor-appointed executive of each principal department, president of the University of Hawaii, superintendent of education, administrative director of the State, administrative director of the courts, and the administrator of the office of Hawaiian affairs are not required to disclose individual items of compensation that constitute a portion of their income or any specific information regarding clients, diminishing the transparency and accountability of these key individuals.
The purpose of this Act is to require the governor, lieutenant governor, members of the legislature, governor-appointed executive of each principal department, president of the University of Hawaii, superintendent of education, administrative director of the State, administrative director of the courts, and the administrator of the office of Hawaiian affairs to disclose additional information regarding income received from certain businesses or services.
SECTION 2. Section 84-17, Hawaii Revised Statutes, is amended by amending subsection (f) to read as follows:
"(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 and the nature of the services
rendered; provided that [required disclosure under this paragraph for the
income source of the spouse or dependent child of a person subject to
subsection (d) shall be limited to the name of the business or other qualifying
source of income, and need not include the income source's address; provided
further that other information]:
(A) 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;
(B) 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 by persons designated in subsection (c), except as provided in
subparagraph (C); and
(C) The
governor, lieutenant governor, members of the legislature, governor-appointed
executive of each principal department, president of the University of Hawaii,
superintendent of education, administrative director of the State,
administrative director of the courts, and the administrator of the office of
Hawaiian affairs shall disclose individual items of compensation of $1,000 or
more that were received from a business or service that constitute a portion of
the gross income of the business or profession from which the person derives
income, including:
(i) The
name of the person, business entity, or organization from whom, or on behalf of
whom the income was received;
(ii) The
date the income was received; and
(iii) A
description of services or goods rendered;
(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 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 upon its approval.
Report Title:
Ethics; Financial Disclosure; Client Disclosure; State Executives
Description:
Requires the governor, lieutenant governor, members of the legislature, governor-appointed executive of each principal department, president of the University of Hawaii, superintendent of education, administrative director of the State, administrative director of the courts, and the administrator of the office of Hawaiian affairs to disclose any income of $1,000 or more received from a business or service, the name of the person or business from whom the income was received, date the income was received, and a description of the services or goods rendered. (SD1)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
