Bill > SB0100

This bill amends existing campaign finance legislation to establish detailed financial disclosure requirements for candidates for state elective offices. The bill defines specific reporting obligations for candidates who have received or expended more than $1,000 during an election cycle for positions such as Governor, Lieutenant Governor, Secretary of State, Attorney General, State Representative, and State Senator. Candidates must file a comprehensive financial disclosure report by May 15 each election year, with the first report due on June 13, 2025, covering the period from January 1 to December 31, 2024. The detailed report requires candidates to disclose information about their employment, income, assets, liabilities, spouse's employment, organizational roles, and potential conflicts of interest. The bill establishes a standardized 18-point form that candidates must complete, including sections on basic identifying information, spousal information, employment and income, organizational roles, assets, liabilities, employment agreements, and state contracts. The Secretary of State is tasked with managing the reporting process, making forms accessible online, and investigating potential violations. Penalties for non-compliance include late filing fees of $25 per business day (up to $1,000) and potential civil fines of up to $2,000 for knowingly filing incomplete or inaccurate reports. Notably, candidates who are not elected are not required to continue filing reports unless they run for office again, and those already required to file under another financial disclosure act are exempt from this reporting requirement.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0100