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Louisiana Now Requiring Extensive Disclosures By Those in Public Service
July 3, 2008

Kimberly L. Robinson

With the passage of Act 1 of the First Extraordinary Session of 2008 and Acts 162 and 472 of the Regular Session of 2008, Louisiana now has four tiers of financial disclosure for public service. 

Any person serving in a public service position on or after July 1, 2008, will be required to file the financial disclosure report in 2009. 

First Tier

The first tier of disclosure applies to statewide elected officials, the commissioner of administration, the secretaries of executive branch agencies, the superintendent of education, the commissioner of higher education, the presidents of each higher education system, the director of state civil service, and certain members of the Governor's staff.

This is the highest level of disclosure and requires disclosure of employment; businesses in which the person is a director, officer, partner, member, or trustee, or has more than a 10% interest; the actual amount of all income received from the state, a political subdivision, or gaming interest; all income in excess of $1,000 by category; liabilities in excess of $10,000; ownership of immovable property valued at more than $2,000; sales or purchases of immovable property, stocks, or bonds in excess of $1,000; and ownership of investment securities in excess of $1,000. 

Second Tier

The second tier of disclosure applies to legislators, elected officials representing districts with a population of 5,000 or more, members of the board of ethics, the ethics administrator, and members of the board of elementary and secondary education.

This second level of disclosure requires disclosure of employment; businesses in which the person is a director, officer, partner, member, or trustee, and has more than a 10% interest; the actual amount of all income received from the state, a political subdivision, or gaming interest; all income in excess of $1,000 by category; liabilities in excess of $10,000; ownership of immovable property valued at more than $2,000; sales or purchases of immovable property, stocks, or bonds in excess of $5,000; and ownership of investment securities in excess of $5,000. 

Third Tier

The third tier of disclosure applies to members or designees of certain state and local boards and commissions that have the authority to expend, disburse, or invest $10,000 or more of funds in a fiscal year, members of the state civil service commission, and members of the board of commissioners of the Louisiana Stadium and Exposition District (Superdome and N.O. Arena). 

This third level of disclosure requires disclosure of employment; businesses in which the person is a director, officer, partner, member, or trustee, and has more than a 10% interest; all income received from the state, a political subdivision, or gaming interest; and a certification that the person has no conflicts of interest or has resolved existing conflicts or interest.

Fourth Tier

The fourth tier of disclosure applies to elected officials representing districts with a population of less than 5,000. This is the lowest tier of disclosure and is not effective until January 1, 2010. This tier requires disclosure of all income in excess of $250 which is received from the state, a political subdivision, or gaming interest.

For those in public service positions, you may wish to consult a legal advisor to ensure your disclosure compliance. For more information, please click here.