MI SB1197

Removes definitions of "gift" and "honorarium" from the candidate financial disclosure act and eliminates the requirement that candidate committees receive or expend more than $1,000 before disclosure is required; adds requirement that candidates intend to appear on the ballot.

Modifies candidate employer disclosure requirements to include "or employers" (plural) and spouse income disclosure thresholds to only require reporting spouse occupation and employer name if spouse receives $1,000 or more in annual income.

Requires candidates to report the origin and address of sources of unearned income exceeding $200 and securities required to be reported, with fair market values adjusted for inflation every 4 years using Detroit Consumer Price Index.

Requires the Department of State to create the financial disclosure form by March 14, 2024 (changed from 30 days after effective date) and authorizes the Secretary of State to accept email submissions as alternative to electronic filing, retroactively applying to reports for the 2023 calendar year.

Changes multiple procedural timeframes from "within" to "not later than" for filing corrections (9 business days), issuing notification of errors (9 business days), and posting complaints and determinations on the website (30 days after determination).