
FPPC Revises “Statement of Economic Interest” Form 700
Given the FlashReport’s wide viewing audience, and knowing that many of its readers are local and state elected officials, I wanted to give you a heads up that the Fair Political Practices Commission (FPPC) recently revised the financial disclosure statement that most state and local elected officials (as well as many managerial-level state and local employees) file annually. The form, known as a Form 700 "Statement of Economic Interest" has been revised to clarify several things, including how to report investments in business entities where the filing party owns 10% or more of a business entity. There had been some confusion in the past as to where to report 10% + interests on the Form 700. That has now been clarified. Most of the other changes are technical. The revised Form 700 also summarizes new legal requirements that generally prohibit elected, appointed and managerial local government employees from lobbying their jurisdiction for one year after leaving office. Additionally, the revised form summarizes a new law that requires local government officials to attend ethics… Read More