California Legislature—2015–16 Regular Session

Assembly BillNo. 2823


Introduced by Assembly Member Gatto

February 19, 2016


An act to amend Section 87206 of the Government Code, relating to the Political Reform Act of 1974.

LEGISLATIVE COUNSEL’S DIGEST

AB 2823, as introduced, Gatto. Political Reform Act of 1974: economic interest disclosure.

The Political Reform Act of 1974 requires persons holding specified public offices to file disclosures of investments, real property interests, and income within specified periods of assuming or leaving office, and annually while holding the office. The act requires the disclosures to include a statement indicating, within a specified value range, the fair market value of investments or interests in real property and the aggregate value of income received from a source.

This bill would make a technical, nonsubstantive change to that provision.

Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.

The people of the State of California do enact as follows:

P1    1

SECTION 1.  

Section 87206 of the Government Code is
2amended to read:

3

87206.  

If an investment or an interest in real property is
4required to be disclosed under this article, the statement shall
5contain:

P2    1(a) A statement of the nature of the investment or interest.

2(b) The name of the business entity in which each investment
3is held, and a general description of the business activity in which
4the business entity is engaged.

5(c) The address or other precise location of the real property.

6(d) A statement whether the fair market value of the investment
7or interest in real property equals or exceeds two thousand dollars
8($2,000) but does not exceed ten thousand dollars ($10,000),
9whether it exceeds ten thousand dollars ($10,000) but does not
10exceed one hundred thousand dollars ($100,000), whether it
11exceeds one hundred thousand dollars ($100,000) but does not
12exceed one million dollars ($1,000,000), or whether it exceeds one
13million dollars ($1,000,000).

14(e) In the case of a statement filed under Sections 87203 or
1587204, if the investment or interest in real property was partially
16or wholly acquired or disposed of during the period covered by
17the statement, the date of acquisition or disposal.

18(f) For purposes of disclosure under this article, “interest in real
19property” does not include the principal residence of the filer or
20any other propertybegin delete whichend deletebegin insert thatend insert the filer utilizes exclusively as the
21personal residence of the filer.



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