LOUISIANA LOCAL
GOVERNMENT UPDATE
ISSUE 2014-1
APRIL 21, 2014
TIME FOR ANNUAL
FINANCIAL DISCLOSURE
LRS 42:1124.2
TIER
2
Financial
Disclosure for elected
officials whose districts
have a population over
5000 people
LRS 42:1124.2.1
TIER 2.1 - Financial
Disclosure for appointed
members
of
certain
boards and commissions
who do not already file
under Tier 2.1
LRS 42:1124.3
TIER
3
Financial
Disclosure for elected
officials whose districts
have a population over
5000 people
THIS FILING IS IN
ADDITION TO ANY
OTHER MANDATED
REPORTING THAT
MAY BE APPLICABLE
TO YOU AS A
CANDIDATE, SCHOOL
BOARD MEMBER, OR
OTHERWISE
The
Louisiana
Local
Government Update is not
intended to provide legal
advice and public bodies and
employees should consult their
own counsel.
LRS 42:1124 – 1124.3 mandates every elected official and certain
appointed officials and employees to file annual financial disclosure
statements with the Board of Ethics by MAY 15TH each year.
Tier 1 financial disclosure is limited to State officials. Local officials
will fall into one or more Tiers (Tier 2, Tier 2.1, Tier 3).
Most local elected officials fall into Tier 3. If you are a local elected
official and the population of your election district is 5000 or less,
then you are in Tier 3. If the population of your election district
exceeds 5000 then you are in Tier 2. If elected from a single
member district, then look to just your district, but if elected atlarge, then look to population of the entire jurisdiction.
Tier 2.1 IS for appointed members of certain boards and
commissions. The board or commission must have the authority to
expend, disburse, or invest $10,000 or more in a fiscal year; and is
either created by the State, by two or more local governments, or
by a single parish government with a population over 200,000.
If a person serves both on a board and as an elected official he must
file the more extensive of the two disclosures. Ex: If in Tier 2 and
2.1, file Tier 2. If in Tier 2.1 and 3 file Tier 2.1.
You can delay filing if you get an extension to file your Federal
Income Tax. In that case you must notify the Board of Ethics by May
15th of the extension and file the financial disclosure within 30 days
of filing your Federal Income Taxes.
The penalties for failing to file range from $50 to $100 per day. The
law provides that the Board of Ethics must notify you that your form
was not timely filed or has some defect and allow you time to file or
amend without penalty.
GET FORMS AT: http://ethics.la.gov/PersonalFinancial.aspx