Governor Signs SB 718 by Senator Martiny into Law

As of June 26, 2008, members of boards and commissions are no longer required to file the same level of personal financial disclosure statements as legislators, with the exception of the Board of Ethics and the State Board of Elementary and Secondary Education.

Act 472 of the 2008 Regular Legislative Session creates a new tier of disclosure exclusively for members and designees of certain boards and commissions with the authority to “expend, disburse, or invest” $10,000 in a fiscal year, the Civil Service Commission, and the Board of Commissioners of the Louisiana Stadium and Exposition District.

In addition to state boards and commissions that were affected by legislation passed in the 2008 1st Extraordinary Session, SB 718 extends financial disclosure requirements to a new group of boards and commissions—those created by the constitution, law, a political subdivision, or jointly by two or more political subdivisions as a governing authority with the exception of:

• Parish governing authorities
• Boards created by a single parish governing authority, or subdistrict, of a parish with a population of 250,000 or less
• Municipal governing authorities
• Boards created by a single municipal governing authority, or subdistrict, of a municipality with a population of 25,000 or less
• Boards of directors of private non-profit corporations that are not created by law

According to Act 472, affected board members and spouses are required to report the following information on a single form by May 15 annually, beginning in 2009:

• Full name and mailing address of the board member
• Full name of the board member’s spouse, his/her occupation, and his/her principal business address
• Name of the employer, job title, and brief job description of the board member and his/her spouse
• Name of business that is owned by the board member or his/her spouse, the address, brief description, nature of association, and percentage of ownership interest (if it is more than 10%)
• Name of non-profit organization in which the board member or his/her spouse is a director or officer, the address, brief description, and nature of association
• The following must be reported if the board member, his/her spouse, or the business owned by the board member or his/her spouse (over 10% ownership) receives income from the State of Louisiana, a political subdivision of the State, or a gaming interest:
• the name of the business
• the address of the business
• the type of business
• the dollar amount of income from these sources.
• Certification that the board member has filed his/her personal income taxes or a request for an extension.
• Certification that the board member and any member of his/her immediate family has no personal or financial interest in any entity, contract, business, or relationship that would pose a conflict of interest that affects the impartial performance of his/her duties; OR a statement describing each conflict and action taken to resolve or avoid the conflict.