KRS Section(s) - KRS 6.781, 6.784, 6.787, 6.791, 6.793, 6.794, 6.797
Who is required to file a statement of financial interests?
Members of the General Assembly, candidates and nominees for election to the General Assembly, and major management personnel in the legislative branch, including the director, deputy directors, and assistant directors of the Legislative Research Commission. See KRS 6.781, and OLEC 93-22.
When and where are statements of financial interests to be filed?
Filers are required to file the statements with the Commission for the preceding calendar year by February 15 each year, complete through December 31 of the preceding year. There are two exceptions:
- A candidate for nomination or election to the General Assembly is required to file his/her statement no later than twenty-one (21) days after the filing deadline as set by the law or within 10 days of the filing deadline if it is a special election; and
- An individual appointed to a major management position in the legislative branch, including the positions of director, deputy director, or assistant director of the Legislative Research Commission is required to file his/her initial statement no later than twenty-one (21) days after the date of his/her appointment. See OLEC 95-3.
The Commission is authorized to grant a reasonable extension of time for good cause shown. (KRS 6.793)
What information is required to be disclosed?
Details of information to be disclosed are described in KRS 6.787(2).
The statement is required to be filed on a form prescribed and provided by the Commission. Specific dollar amounts are not required to be disclosed. Names of clients or customers of business entities that are listed as sources of income in KRS 6.787(2)(f) are not required to be disclosed. [KRS 6.787(1) and (3)] There is also no requirement to disclose: a gift or loan from a family member, a campaign contribution permitted and reported under KRS Chapter 121 or Chapter 121A, or a gift or loan from a wholly-owned family business. [KRS 6.784(3) to (5)]
Are the statements of financial interests open to the public?
Yes. Upon receipt by the Commission, the statements are public records available for copying. (KRS 6.791)
How long are the statements retained by the Commission?
The statements are retained for five (5) years in a form that facilitates document retention, including microfilming. There are two exceptions:
- Statements of an individual who ceases to be a member of the General Assembly or who ceases to be an employee in a legislative major management position listed in KRS 6.781(3) are required to be destroyed by the Commission three (3) years after the individual ceases to be a member or employee; and
- Statements of a candidate for the General Assembly who was not elected or nominated are required to be destroyed by the Commission three (3) years after the election at which the candidate was not elected or nominated. The exceptions do not apply to an individual who is otherwise required to file a statement. (KRS 6.791)
What are the penalties for deficient or false filings?
A person who fails to file the statement in a timely manner, completely, or in the form required by the Commission is notified by the Commission by certified mail specifying the type of failure or delinquency and advising the person of the penalties. (KRS 6.797) However, a filer who submits a statement within 10 days of the statutory deadline or the deadline authorized by the Commission shall be subject to no penalty. (KRS 6.794)
A person who fails to file the statement or to remedy a deficiency identified by the Commission in the notice in a timely manner may be fined by the Commission an amount not to exceed $100 per day up to a maximum total fine of $1,000. (KRS 6.797)
A person who intentionally files a statement that he/she knows contains false information or omits required information is guilty of a Class A misdemeanor. (KRS 6.797)
KRS Section(s) - KRS 6.797, 6.807, 6.821
Failure to File Forms
During the 2000 Legislative Session, the Code of Ethics was amended to allow the Commission to levy administrative penalties without the filing of a formal complaint. This allows staff to monitor the filings of all statements required by the Code to ensure compliance with the filing deadlines. Failure to timely file required forms may result in the assessment of a monetary fine ranging anywhere from a minimum of $50 up to the statutory maximum of $1000 per occurrence.
KRS 6.797(2)(a), 6.807(7), and 6.821(7) currently allows the Commission to levy administrative penalties for failing to file the required initial and updated registration statements, and the statement of financial disclosure without the necessity of a complaint, but only after notice has been given to the alleged violator to appear before the commission or otherwise offer evidence as he/she may choose in mitigation of the imposition of the fine.