BILL NUMBER: AB 2162	ENROLLED
	BILL TEXT

	PASSED THE SENATE  AUGUST 23, 2012
	PASSED THE ASSEMBLY  MAY 3, 2012

INTRODUCED BY   Assembly Member Portantino

                        FEBRUARY 23, 2012

   An act to amend Sections 87206 and 87207 of the Government Code,
relating to the Political Reform Act of 1974.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2162, Portantino. 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 revise the dollar amounts associated with these
ranges to provide for 8 total ranges of fair market value of
investments and real property interests and 10 total ranges of
aggregate value of income.
   Existing law makes a knowing or willful violation of the act a
misdemeanor and subjects offenders to criminal penalties.
   By creating additional crimes, this bill would impose a
state-mandated local program.
   The California Constitution requires the state to reimburse local
agencies and school districts for certain costs mandated by the
state. Statutory provisions establish procedures for making that
reimbursement.
   This bill would provide that no reimbursement is required by this
act for a specified reason.
   The Political Reform Act of 1974, an initiative measure, provides
that the Legislature may amend the act to further the act's purposes
upon a 2/3 vote of each house and compliance with specified
procedural requirements.
   This bill would declare that it furthers the purposes of the act.




THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 87206 of the Government Code is amended to
read:
   87206.  (a) If an investment or an interest in real property is
required to be disclosed under this article, the statement shall
contain all of the following:
   (1) A statement of the nature of the investment or interest.
   (2) The name of the business entity in which each investment is
held, and a general description of the business activity in which the
business entity is engaged.
   (3) The address or other precise location of the real property.
   (4) A statement indicating which of the following ranges
represents the fair market value of the investment or interest in
real property:
   (A) At least two thousand dollars ($2,000) but not greater than
twenty-five thousand dollars ($25,000).
   (B) More than twenty-five thousand dollars ($25,000) but not
greater than one hundred thousand dollars ($100,000).
   (C) More than one hundred thousand dollars ($100,000) but not
greater than two hundred fifty thousand dollars ($250,000).
   (D) More than two hundred fifty thousand dollars ($250,000) but
not greater than five hundred thousand dollars ($500,000).
   (E) More than five hundred thousand dollars ($500,000) but not
greater than one million dollars ($1,000,000).
   (F) More than one million dollars ($1,000,000) but not greater
than five million dollars ($5,000,000).
   (G) More than five million dollars ($5,000,000) but not greater
than ten million dollars ($10,000,000).
   (H) More than ten million dollars ($10,000,000).
   (5) In the case of a statement filed under Section 87203 or 87204,
if the investment or interest in real property was partially or
wholly acquired or disposed of during the period covered by the
statement, the date of acquisition or disposal.
   (b) For purposes of disclosure under this article, "interest in
real property" does not include the principal residence of the filer
or any other property which the filer utilizes exclusively as the
personal residence of the filer.
  SEC. 2.  Section 87207 of the Government Code is amended to read:
   87207.  (a) Except as provided in subdivision (b), when income is
required to be reported under this article, the statement shall
contain the following:
   (1) The name and address of each source of income aggregating five
hundred dollars ($500) or more in value, or fifty dollars ($50) or
more in value if the income was a gift, and a general description of
the business activity, if any, of each source.
   (2) A statement indicating which of the following ranges
represents the aggregate value of income from each source, or in the
case of a loan, the highest amount owed to each source:
   (A) At least five hundred dollars ($500) but not greater than one
thousand dollars ($1,000).
   (B) More than one thousand dollars ($1,000) but not greater than
ten thousand dollars ($10,000).
   (C) More than ten thousand dollars ($10,000) but not greater than
twenty-five thousand dollars ($25,000).
   (D) More than twenty-five thousand dollars ($25,000) but not
greater than one hundred thousand dollars ($100,000).
   (E) More than one hundred thousand dollars ($100,000) but not
greater than two hundred fifty thousand dollars ($250,000).
   (F) More than two hundred fifty thousand dollars ($250,000) but
not greater than five hundred thousand dollars ($500,000).
   (G) More than five hundred thousand dollars ($500,000) but not
greater than one million dollars ($1,000,000).
   (H) More than one million dollars ($1,000,000) but not greater
than five million dollars ($5,000,000).
   (I) More than five million dollars ($5,000,000) but not greater
than ten million dollars ($10,000,000).
   (J) More than ten million dollars ($10,000,000).
   (3) A description of the consideration, if any, for which the
income was received.
   (4) In the case of a gift, the amount and the date on which the
gift was received.
   (5) In the case of a loan, the annual interest rate, the security,
if any, given for the loan, and the term of the loan.
   (b) When the filer's pro rata share of income to a business
entity, including income to a sole proprietorship, is required to be
reported under this article, the statement shall contain the
following:
   (1) The name, address, and a general description of the business
activity of the business entity.
   (2) The name of every person from whom the business entity
received payments if the filer's pro rata share of gross receipts
from that person was equal to or greater than ten thousand dollars
($10,000) during a calendar year.
   (c) When a payment, including an advance or reimbursement, for
travel is required to be reported pursuant to this section, it may be
reported on a separate travel reimbursement schedule which shall be
included in the filer's statement of economic interest. A filer who
chooses not to use the travel schedule shall disclose payments for
travel as a gift, unless it is clear from all surrounding
circumstances that the services provided were equal to or greater in
value than the payments for the travel, in which case the travel may
be reported as income.
  SEC. 3.  No reimbursement is required by this act pursuant to
Section 6 of Article XIII B of the California Constitution because
the only costs that may be incurred by a local agency or school
district will be incurred because this act creates a new crime or
infraction, eliminates a crime or infraction, or changes the penalty
for a crime or infraction, within the meaning of Section 17556 of the
Government Code, or changes the definition of a crime within the
meaning of Section 6 of Article XIII B of the California
Constitution.
  SEC. 4.  The Legislature finds and declares that this bill furthers
the purposes of the Political Reform Act of 1974 within the meaning
of subdivision (a) of Section 81012 of the Government Code.