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Financial Disclosure

Financial Statement to Be Filed
Continuing Duty to File a Financial Statement after Leaving Office
Content of Financial Statement
Occupational Income
Executive Positions
Real Estate Interest
Trust Income
Business Positions
Doing Business with a State or Municipal Agency
Business Interest
Out-of-state Travel
Disclosure of Regulated Business Interests
Penalties

R.I. Gen. Laws § 36-14-16 Financial statement to be filed.

(a) On or before the last Friday in April of each year, the following officials and employees subject to this code of ethics shall file with the commission a financial statement complying with the requirements of this chapter:

(1) all state elected officials;

(2) all state appointed officials;

(3) all state appointed officials and employees who hold a major decision-making position in a state agency;

(4) all municipal elected officials; and

(5) all municipal appointed officials whose official duties and responsibilities include exercising decision-making authority over the expenditure of more than fifty thousand dollars ($50,000) in public funds in any fiscal or calendar year, and expressly including solicitors and assistant solicitors, police chiefs, fire chiefs, superintendents of schools, principals, superintendents and administrators of charter schools, board members of charter schools, principals, superintendents and administrators of state schools, board members of state schools, building inspectors, members of planning boards, zoning boards, licensing boards and tax appeal boards. This subsection shall also include all municipal appointed officials whose official duties and responsibilities include nominating, appointing or hiring any persons that will receive compensation of more than fifty thousand dollars ($50,000) in public funds in any fiscal or calendar year.

(b) In the case of the appointment of state and municipal appointed officials on and after January 1, 1988, the appointee shall file the financial statement within thirty (30) days after the date of his or her appointment or the date he or she qualifies for the office; provided, however that in the case of the appointment of officials that require senate confirmation, the appointee shall file the financial statement with the appropriate senate committee prior to the institution of those confirmation proceedings.

(c) Within thirty (30) days after the filing deadline, every person who is a candidate for an office as an elected officer, except those candidates for moderator and clerk of a voting district of the cities and towns, shall file the financial statement as required by this chapter. Filings of candidates for general office shall include information as required in subdivision 36-14-17(b)(2). The commission shall grant an extension for good cause shown of not more than fifteen (15) days, provided a request for the extension is received prior to the filing deadline for the financial statement.

(d) Except as otherwise provided in this chapter, at least thirty (30) days before the deadline date for the filing of a financial statement by each individual required to file, the commission shall mail to the individual a copy of the financial statement form. In the case of candidates other than those covered by subsection (f) of this section, the forms shall be mailed within ten (10) days after the filing deadline date. In the case of appointed officers covered by this section, the forms shall be mailed within seven (7) days after the date of the appointment.

(e) If a person has filed a financial statement as required by one subsection of this section covering the preceding calendar year, he or she is not required to file a financial statement as required by another subsection if, before the deadline for filing under the other subsection, he or she notifies the commission in writing that he or she has already filed a financial statement under the subsection specified.

(f) A person required to file a financial statement under subsection (a) of this section may request the commission to grant an extension of time of not more than sixty (60) days for filing the statement. The commission shall grant an extension of not more than sixty (60) days if the request is received prior to the filing deadline or if a timely filing or request for extension is prevented because of physical or mental incapacity. Not more than one extension may be given to a person in one year except for good cause shown.

(g) The deadline for filing any statement required by this section is 5:00 p.m. of the last day designated in the pertinent subsection of this section for filing the statement. When the last day of filing falls on a Saturday or Sunday or an official state holiday, the deadline for filing is extended to 5:00 p.m. of the next day which is not a Saturday or Sunday or holiday. Any statement required by any provision of this section to be filed within a specified time period shall be deemed to be timely filed if it is placed in the United States post office or in the hands of a common or contract carrier properly addressed to the appropriate authority within the time limits applicable to the statement. The postmark or receipt mark (if received by a common or contract carrier) will be prima facie evidence of the date that such statement was deposited with the post office or carrier. The person filing the statement may show by competent evidence that the actual date of posting was to the contrary.

Regulation 36-14-16001 Commission mailings.

The time periods for the mailing of financial statement forms by the Commission to an individual under this section shall be extended in the event the Commission has not received official written notice of the individual's appointment or eligibility until the Commission receives such notice.

Regulation 36-14-16004 Continuing duty to file a financial statement after leaving office.

When a public official who is required to file a financial disclosure statement leaves office, such official shall have a continuing duty to file a timely financial statement covering the last calendar year during any part of which the office was held, unless the official's tenure expired prior to the end of January in the particular year.

R.I. Gen. Laws § 36-14-17 Content of financial statement.

(a) The financial statement required herein shall be on a form prescribed by the Commission and shall include the account of the financial activity of the person required to file the statement by this chapter and the financial activity of his or her spouse (if not estranged) and any dependent children for the preceding calendar year.

(b) The account of financial activity referred to in subsection (a) of this section shall consist of:

(1) If he or she or any person enumerated in subsection (a) of this section or a business entity in which he or she or any person enumerated as aforesaid held a ten percent (10%) or greater equity interest or five thousand dollars ($5,000) or greater cash value interest at any time during the calendar year for which the statement is required has done business with a state or municipal agency or a business which is subject to direct regulation greater than of a de minimus nature by a state or municipal agency, and if so, the date and nature of the business;

(2) A list of all sources of occupational income identified by employer, or if self-employed, by the nature of occupation or profession, and if income was received from a state or municipal agency, the name and address of such agency and the nature of the services rendered; however, general officers, as defined in section 17-2-1, shall list all sources and amounts of income in excess of two hundred dollars ($200) according to the following categories:

(i) not more than $1000

(ii) greater than $1000 but no more than $10,000

(iii) greater than $10,000 but no more than $25,000

(iv) greater than $25,000 but no more than $50,000

(v) greater than $50,000 but no more than $100,000

(vi) greater than $100,000 but no more than $200,000

(vii) greater than $200,000 but no more than $500,000

(viii) greater than $500,000 but no more than $1,000,000

(ix) greater than $1,000,000

(3) A listing of all real property in which a financial interest was held; however, this section shall not apply to real property used exclusively as his or her principal residence;

(4) Identification of any interested person from whom the person or his or her spouse (if not estranged) or any dependent child received a gift or contribution of money or property in excess of one hundred dollars ($100) in value or a series of gifts or contributions of money or property, the total of which exceeds one hundred dollars ($100) in value received from the same source, and a description of each gift or contributions, except those received from persons related to the person at any time within the third degree of consanguinity or affinity and campaign contributions which were reported as required by law, for purposes of this subsection, "interested person", means a person or a representative of a person or business that has a direct financial interest in a decision that the person subject to the Code of Ethics is authorized to make, or to participate in the making of, as part of his or her official duties;

(5) Identification of the source of all income received as beneficiary of a trust and identification of each asset, if known to the beneficiary, from which income was received by the beneficiary in excess of one thousand dollars ($1,000);

(6) A list of all boards of directors of which the person is a member and the executive positions which he or she holds in any business entity, stating the name and address of each such business entity;

(7) The name and address of any business entity in which he or she or any person enumerated in subsection (a) of this section held a ten percent (10%) or greater equity interest or five thousand dollars ($5,000) or greater cash value interest at any time during the calendar year for which the statement is required; and

(8) (i) Identification of any person, business entity, financial institution or other organization to whom the person was indebted at any time during the calendar year for which the statement is required in an amount in excess of one thousand dollars ($1,000) other than

(A) Any person related to the person at any time within the third degree of consanguinity or affinity or

(B) Any transactions involving credit cards, or

(C) Any indebtedness to a financial institution, licensed and regulated by any state or by the United States, which is secured solely by a mortgage of record on real property used exclusively as the principal residence of the person required to file the statement.

(ii) This section does not require the reporting of the amount or amounts of indebtedness or the payment record of the loans.

(c) The financial statement shall be sworn to under oath.

Regulation 36-14-17001 Occupational income.

The name and address of any employer from which the public official, his or her spouse or dependent child, (individually or collectively) received one thousand dollars ($1,000) or more gross income must be listed. If self-employed, any occupation or profession from which the public official his or her spouse, or dependent child (individually or collectively) received one thousand dollars ($1,000) or more gross income. If the employer is a state or municipal agency or if self-employed and services for in excess of two hundred and fifty dollars ($250) were rendered to a state or municipal agency, the period of employment or dates services were rendered and the specific nature of the services must be listed.

Regulation 36-14-17002 Executive positions.

The name and address of any business as defined in R.I. Gen. Laws § 36-14-2(5) which the public official, his or her spouse or dependent child is a director, officer, partner, trustee, or holds a supervisory management position must be listed.

Regulation 36-14-17003 Real estate interest.

A financial interest in real estate shall include direct as well as indirect ownership through a trust or other entity, mortgages, options to buy, sell, or lease for a long term, and other interests in real estate, held individually or collectively by persons under section 36-14-17(a).

Regulation 36-14-17004 Trust income.

Disclosure of income as beneficiary of a trust shall include identification of the particular trustee, and asset or assets which generated such income.

Regulation 36-14-17005 Business positions.

Membership in a business entity necessitating disclosure shall include status as a member of a board of directors, officer, partner, trustee, or the holding of any other similar executive position in a business.

Regulation 36-14-17006 Doing business with a state or municipal agency.

Transactions reportable under R.I. Gen. Laws § 36-14-17(b)(1) shall include any transaction or transactions which together exceed two hundred fifty dollars ($250) at any time during the calendar year.

Regulation 36-14-17007 Business interest.

Disclosure of business interest under section 36-14-17(b)(1) shall include an ownership interest of ten percent (10%) or greater, or a cash value interest amounting to five thousand dollars ($5,000) or greater, individually or collectively relating to all persons under section 36-14-17(a), at any time during the calendar year.

Regulation 36-14-17008 Leadership Positions with Not-For-Profit Organizations

The financial statement required to be filed pursuant to R.I. Gen. Laws § 36-14-16 shall include, in addition to any other requirements, a list of all boards of directors, trustees or equivalent fiduciary positions of which the person is a member, and all executive officer positions which the public official holds, in any not-for-profit organization. This disclosure shall include a listing of each entity or organization, its address and the position held.

Regulation 36-14-17009 Out-of-state Travel (adopted November 20, 2012)

(a) Any public official or employee who is required to file a yearly financial statement pursuant to section 36-14-16(a) shall disclose the source, value and description of any out-of-state travel and related transportation, lodging, meals and entertainment having an aggregate fair market value or actual cost greater than two hundred fifty dollars ($250) provided by any person or entity, other than the state or municipal agency of which he or she is a member or by which he or she is employed or his or her regular private employer, if under the totality of the circumstances it is more likely than not that the person or entity would not have provided the travel but for the official’s or employee’s public office or position.

(b) Circumstances indicating that the person or entity would not have provided the travel but for the official's or employee's public office or position may include, but are not limited to, one or more of the following:

(1) The official or employee became acquainted with the provider through his or her public agency;

(2) The official or employee was offered the out-of-state travel and related transportation, lodging, meals and entertainment through a communication sent to or through the public official's or employee's agency;

(3) Other officials or employees in the same agency are offered, or have been offered, out-of-state travel and related transportation, lodging, meals and entertainment from the provider;

(4) The official's or employee's counterparts in other public agencies or jurisdictions have been offered similar out-of-state travel and related transportation, lodging, meals and entertainment by the provider;

(5) The provider is affiliated with any "interested person," as defined by Regulation 36-14-5009, or has allowed an interested person to underwrite expenses associated with the out-of-state travel and related transportation, lodging, meals and entertainment;

(6) The provider is an entity whose membership is limited to, or is largely comprised of, public officials;

(7) The official or employee had not received out-of-state travel and related transportation, lodging, meals and entertainment from the provider prior to attaining his or her public office or employment;

(8) If the out-of-state travel and related transportation, lodging, meals and entertainment involves attendance at an event, any written references by the provider or affiliated persons relative to the public official's or employee's attendance or participation refer to his or her public office, duties or agency.

(9) If the travel involves a conference or seminar, the subject matter of the conference or seminar directly pertains to the public official's or employee's official duties.

R.I. Gen. Laws § 36-14-18 Disclosure of regulated business interests.

(a) Every person who is required to file a financial statement pursuant to this chapter and who has, acquires, or divests him or herself of ten percent (10%) or greater equity interest or five thousand dollars ($5,000) or greater cash value interest in a business entity which is subject to direct regulation, greater than of a de minimus nature, by a state or municipal agency, or which does any business with a state or municipal agency, shall file with the Commission at the times specified by this chapter, an affidavit:

(1) Identifying him or herself and stating the capacity in which he serves or is about to serve which occasions the filing of the affidavit;

(2) Identifying the business entity (or each business entity);

(3) Identifying the regulatory agency or agencies;

(4) Stating the nature of his or her interest in the business entity;

(5) Describing the manner in which the business entity is subject to regulation; and

(6) Stating whether the interest is held, or was acquired or divested, and if acquired or divested, when.

(b) The nature of an interest in a business entity shall be described in specific language.

(c) Every state or municipal official to which this section applies who holds office on January 1, 1988, and, who has any interest required to be reported pursuant to this section, shall file the affidavit within ninety (90) days after January 1, 1988.

(d) If a state or municipal official to which this section applies, acquires or divests him or herself of an interest, required to be reported pursuant to this section, he or she shall file the affidavit within thirty (30) days after the date the interest was acquired or divested.

(e) In the case of appointments made after January 1, 1988, a state or municipal official who has any interest required to be reported pursuant to this section shall file the affidavit within thirty (30) days after the date of his or her appointment or the date he qualifies for the office.

R.I. Gen. Laws § 36-14-19 Penalties.

Any person who knowingly and willfully violates the provisions of this chapter shall, in addition to the civil penalties provided herein, be guilty of a misdemeanor punishable by a fine of not more than one thousand dollars ($1,000) and/or imprisonment for no longer than one (1) year.

R.I. Gen. Laws § 36-14-20 Construction.

The provisions of this chapter shall be construed to be in addition to and not in substitution of any other provision of law not inconsistent herewith.

R.I. Gen. Laws § 36-14-21 Severability.

If any provision of this chapter, or the application thereof to any person or circumstance, is held invalid, the validity of the remainder of the chapter and the application of such provisions to other persons and circumstances shall not be affected thereby.

Regulation 36-14-21001 Severability of Regulations.

If any provision of these regulations, or the application thereof to any person or circumstance, is held invalid, the validity of the remainder of these regulations and the application of such provisions to other persons and circumstances shall not be affected thereby.