Bill > SB492

This bill modifies the business disclosure statement requirements for state officials, candidates, and appointees by making several key changes. The bill requires candidates for statewide or state district offices to file a business disclosure statement within 5 days of filing for office, and individuals appointed to such offices must file the statement upon submission for confirmation or when assuming office. The disclosure statement must now include more specific details about business interests, including a requirement to disclose business entities where the individual holds more than a 10% interest (or more than 1% for publicly traded companies), and real property interests over 10%. The bill explicitly exempts mutual fund disclosures from these requirements. An individual cannot assume or continue in their elected or appointed office until the statement is filed, and they may certify that their previously filed information remains unchanged. The commissioner of political practices will provide a certification form and make all disclosure statements available upon request, maintaining transparency in public officials' business and financial interests.

Government Affairs

https://bills.legmt.gov/#/laws/bill/2/LC1032