CT SB01430

Expands the definition of "substantial conflict of interest" to include financial interests of a public official's or state employee's nonstate employer and their spouse's nonstate employer, effective October 1, 2025

Requires elected state officials with employer-related conflicts to either recuse themselves or file a signed written statement explaining why they can still participate fairly, with copies submitted to the Office of State Ethics and entered into agency records

Raises the standard for elected officials regarding employer conflicts from "reason to believe or expect" to "actual knowledge" that their nonstate employer or spouse's employer will derive direct monetary gain or loss

Expands financial disclosure requirements to include members of Executive Department boards, commissions, committees, or councils who have authority to approve large state construction or procurement contracts

Adds tax-sheltered annuity retirement plans (Section 403) and payroll deduction IRA plans (Sections 408/408A) to the list of retirement accounts exempt from itemized securities disclosure on financial interest statements