Bill > SB0099

This bill amends the existing law on financial disclosure requirements for certain public officers in Michigan, introducing a comprehensive and detailed financial disclosure form that requires reporting of various personal and financial information. The bill defines key terms such as "public officer" (which includes state representatives, senators, the attorney general, governor, lieutenant governor, and secretary of state) and establishes specific reporting requirements. Public officers must file an annual financial disclosure report by May 15th each year, with the first report for the 2024 reporting period due by June 13, 2025. The report mandates disclosure of detailed information including employment, income, assets, liabilities, organizational roles, spousal information, gifts received from lobbyists, and potential conflicts of interest. The bill also establishes a systematic process for filing, reviewing, and potentially penalizing non-compliance, with late filing fees of $25 per business day (up to $1,000) and potential civil fines of up to $2,000 for knowingly filing an incomplete or inaccurate report. The Secretary of State is responsible for managing the reporting system, making reports publicly accessible, and investigating potential violations, with the goal of increasing transparency in public officials' financial affairs.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0099