SB144 - Revises provisions governing financial disclosure statements filed by certain public officers and candidates for public office. (BDR 23-176)

S.B. 144 - *SB144* SENATE BILL NO. 144–SENATOR SCHEIBLE PREFILED JANUARY 30, 2025 ____________ Referred to Committee on Legislative Operations and Elections SUMMARY—Revises provisions governing financial disclosure statements filed by certain public officers and candidates for public office. (BDR 23-176) FISCAL NOTE: Effect on Local Government: No. Effect on the State: Yes. ~ EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted. AN ACT relating to public office; revising provisions governing financial disclosure statements filed by certain public officers and candidates for public office; and providing other matters properly relating thereto. Legislative Counsel’s Digest: The Nevada Financial Disclosure Act requires certain public officers and 1 candidates for public office to disclose certain information in financial disclosure 2 statements filed with the Secretary of State. (NRS 281.005, 281.5555-281.581) In 3 part, existing law requires the disclosure of each business entity with which the 4 public officer or candidate or a member of the public officer’s or candidate’s 5 household is involved as a holder of a class of stock or security representing 1 6 percent or more of the total outstanding stock or securities issued by the business 7 entity. (NRS 281.571) This bill also requires the disclosure of each business entity 8 with which the public officer or candidate or a member of the public officer’s or 9 candidate’s household is involved as a holder of a class of stock or security issued 10 by the business entity that is valued at $5,000 or more. 11 THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. NRS 281.571 is hereby amended to read as follows: 1 281.571 Each financial disclosure statement must contain the 2 following information concerning the public officer or candidate: 3 1. The public officer’s or candidate’s length of residence in the 4 State of Nevada and the district in which the public officer or 5 candidate is registered to vote. 6 – 2 – - *SB144* 2. Each source of the public officer’s or candidate’s income, or 1 that of any member of the public officer’s or candidate’s household 2 who is 18 years of age or older. No listing of individual clients, 3 customers or patients is required, but if that is the case, a general 4 source such as “professional services” must be disclosed. 5 3. A list of the specific location and particular use of real 6 estate, other than a personal residence: 7 (a) In which the public officer or candidate or a member of the 8 public officer’s or candidate’s household has a legal or beneficial 9 interest; 10 (b) Whose fair market value is $2,500 or more; and 11 (c) That is located in this State or an adjacent state. 12 4. The name of each creditor to whom the public officer or 13 candidate or a member of the public officer’s or candidate’s 14 household owes $5,000 or more, except for: 15 (a) A debt secured by a mortgage or deed of trust of real 16 property which is not required to be listed pursuant to subsection 3; 17 and 18 (b) A debt for which a security interest in a motor vehicle for 19 personal use was retained by the seller. 20 5. If the public officer or candidate has undertaken or attended 21 any educational or informational meetings, events or trips during the 22 immediately preceding calendar year or other period for which the 23 public officer or candidate is filing the financial disclosure 24 statement, a list of all such meetings, events or trips, including: 25 (a) The purpose and location of the meeting, event or trip and 26 the name of the organization conducting, sponsoring, hosting or 27 requesting the meeting, event or trip; 28 (b) The identity of each interested person providing anything of 29 value to the public officer or candidate or a member of the public 30 officer’s or candidate’s household to undertake or attend the 31 meeting, event or trip; and 32 (c) The aggregate value of everything provided by those 33 interested persons to the public officer or candidate or a member of 34 the public officer’s or candidate’s household to undertake or attend 35 the meeting, event or trip. 36 6. If the public officer or candidate has received any gifts in 37 excess of an aggregate value of $200 from a donor during the 38 immediately preceding calendar year or other period for which the 39 public officer or candidate is filing the financial disclosure 40 statement, a list of all such gifts, including the identity of the donor 41 and the value of each gift. 42 7. A list of each business entity with which the public officer 43 or candidate or a member of the public officer’s or candidate’s 44 household is involved as a trustee, beneficiary of a trust, director, 45 – 3 – - *SB144* officer, owner in whole or in part, limited or general partner, or 1 holder of a class of stock or security [representing] issued by the 2 business entity that: 3 (a) Represents 1 percent or more of the total outstanding stock 4 or securities issued by the business entity [.] ; or 5 (b) Is valued at $5,000 or more. 6 8. A list of all public offices presently held by the public 7 officer or candidate for which this financial disclosure statement is 8 required. 9 Sec. 2. This act becomes effective on July 1, 2025. 10 H