HB 2256 Summary

• Changes financial disclosure reporting period for public officers from annual (calendar year) to semi-annual (six-month periods), with filings due by the last day of each six-month period rather than January 31.

• Increases financial disclosure thresholds: raises the compensation reporting threshold from $1,000 to $1,500; raises controlled/dependent business thresholds from $10,000 to $5,000; and raises gift reporting threshold from $500 to $250.

• Requires electronic filing of financial disclosure statements through systems provided or approved by the Secretary of State, with statements made publicly available on the Secretary of State's website.

• Expands the definition of "gift" to include loans, payments, distributions, expenditures, advances, deposits, donations, and intangible/tangible property, while establishing specific exemptions (family gifts, plaques, informational materials, items returned within 15 days, campaign contributions, reciprocal gifts, and items given to the general public).

• Changes violations of disclosure requirements from Class 1 misdemeanor to Class 6 felony for knowing violations, adds Class 1 misdemeanor for reckless violations, and increases civil penalties from $500 to $1,000 maximum.

• Modifies lobbyist gift and expenditure reporting to require specific dollar amounts and descriptions of items/services provided rather than categorical classifications.