Senate amends and adopts H.875 to expand State Ethics Commission, tightens disclosure thresholds

The Senate amended and adopted the Committee on Government Operations' report on H.875, a bill to expand the State Ethics Commission and establish a statewide municipal code of ethics, then ordered the bill to third reading. Lawmakers debated how broadly to require financial disclosures for candidates and public officials, adopted clarifying amendments and approved the amended report by roll call vote 19-10.

The amendment, offered by the senator from Addison and explained on the floor by Senator Madison, adds specific disclosure thresholds and definitions intended to clarify earlier language. Under the amendment, individual stock holdings under direct control and investment funds in which a filer can exercise control must be disclosed; investments, virtual currencies, trusts and municipal or state bonds must be reported if valued at $25,000 or more; and noncommercial loans of $10,000 or more must be disclosed. "Nothing in the disclosure is to discourage anyone from holding any of these things,"…