Bill Text: SC S0169 | 2023-2024 | 125th General Assembly | Introduced

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Bill Title: Economic interest statements

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2023-01-10 - Referred to Committee on Judiciary [S0169 Detail]

Download: South_Carolina-2023-S0169-Introduced.html

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South Carolina General Assembly
125th Session, 2023-2024

Bill 169

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Indicates Matter Stricken
Indicates New Matter

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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A bill

to amend the South Carolina Code of Laws by amending Section 8-13-1140, relating to FILING AN UPDATED STATEMENT OF ECONOMIC INTERESTS, so as to REQUIRE EACH STATEWIDE CONSTITUTIONAL OFFICER AND MEMBER OF THE GENERAL ASSEMBLY TO PROVIDE A COPY OF HIS PERSONAL FEDERAL AND STATE INCOME TAX RETURNS, TO PROVIDE A DEADLINE, TO PROVIDE THAT A FILER'S IMMEDIATE FAMILY MEMBER MUST SUBMIT A COPY OF HIS INCOME TAX RETURN IF THE FILER'S INCOME TAX RETURN DOES NOT INDICATE THE IMMEDIATE FAMILY MEMBER'S SOURCE OF INCOME, TO PROVIDE THAT THE SUBMITTED TAX RETURNS ARE NOT SUBJECT TO PUBLIC DISCLOSURE AND MUST BE DESTROYED AFTER THE TIME PERIOD FOR AUDIT OR INCOME VERIFICATION, AND TO PROVIDE THAT THE STATE ETHICS COMMISSION, SENATE ETHICS COMMITTEE, AND HOUSE OF REPRESENTATIVES ETHICS COMMITTEE MUST CONDUCT RANDOM AUDITS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1.Section 8-13-1140 of the S.C. Code is amended to read:

Section 8-13-1140(A) A person required to file a statement of economic interests under this chapter annually shall file, pursuant to Section 8-13-365, an updated statement for the previous calendar year, no later than noon on March thirtieth of each calendar year. If the person has filed the description by name, amount, and schedule of payments of a continuing arrangement relating to an item required to be reported under this article, an updating statement need not be filed for each payment under the continuing arrangement, but only if the arrangement is terminated or altered.

(B)(1) Each statewide constitutional officer and member of the General Assembly must provide a copy of his personal federal and state income tax returns for the previous calendar year to the State Ethics Commission. A member of the House of Representatives must also provide a copy to the House of Representatives Ethics Committee. A member of the Senate must also provide a copy to the Senate Ethics Committee.

(2) In the event that the personal income tax returns of a statewide constitutional officer or a member of the General Assembly do not include the source of income for all members of his immediate family, a copy of the relevant immediate family members' personal federal and state income tax returns for the previous calendar year must also be provided.

(3) A copy of the personal income tax returns required by this subsection must be submitted no later than April twenty-fifth. If the filer requests an extension for filing his personal federal or state income tax return, or both, then a copy of the request for extension must be submitted in the same manner as provided in item (1) of this subsection, and the personal income tax return for which an extension was requested must be submitted within ten business days after the personal income tax returns are filed.

(4) Information received pursuant to this subsection is not subject to public disclosure and may be retained only for the period of time necessary to conduct any audit or verification of the filer's applicable statement of economic interests, after which time the documents must be destroyed. Social Security numbers may be redacted before providing a copy of the income tax returns or request for filing an extension of the income tax returns.

(5) The State Ethics Commission, House of Representatives Ethics Committee, and Senate Ethics Committee must each establish a process to conduct random audits to verify that sources of income provided on a statement of economic interests are fully and accurately disclosed.

SECTION 2.This act takes effect upon approval by the Governor.

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This web page was last updated on December 09, 2022 at 03:09 PM