MI SB0443

Establishes the "Financial Disclosure Act" requiring state and local officials and candidates for certain offices to file annual financial disclosure reports with the Bureau of Elections.

Officials must file reports by May 1 of each year covering the preceding calendar year; candidates must file within 30 days of becoming a candidate or 11 days before the first election, whichever is earlier.

Reports must disclose income sources ($1,000+), assets ($10,000+), liabilities ($10,000+), real property transactions ($1,000+), business positions, and employment agreements for the filer and immediate family members.

Requires gubernatorial candidates to submit copies of federal tax returns for the three preceding years by June 15 of the election year (with social security numbers redacted).

Establishes penalties including late filing fees up to $1,000, misdemeanor charges for knowingly filing incomplete or inaccurate reports (up to 90 days imprisonment or $1,000 fine), and enforcement by the Attorney General or Ingham County Prosecuting Attorney.