SB3799 Summary

• Prohibits General Assembly members and their immediate family members from holding non-passive ownership interests in businesses qualified as "qualified purchasers" under the State Prompt Payment Act during the member's term of office.

• Prohibits General Assembly employees and employees of individual members from holding non-passive ownership interests in qualified purchaser businesses during their employment.

• Prohibits General Assembly members, their immediate family members, and General Assembly employees from receiving any compensation for services or employment with qualified purchaser businesses.

• Requires anyone holding prohibited ownership interests as of the bill's effective date to divest within 30 days.

• Defines "immediate family member" as anyone living with a member, or a spouse, child, sibling, or parent of a member, regardless of residence.