2 KAR 2:020reg. Statement of financial disclosure

      Section 1. The ["]Statement of Financial Disclosure["] required by KRS 6.781 shall be completed and mailed or delivered to the Kentucky Legislative Ethics Commission, 22 Mill Creek Park, Frankfort, Kentucky 40601 in accordance with the schedule set out in KRS 6.793.

 

      Section 2. Incorporation by Reference. (1)[The] "Statement of Financial Disclosure", 10/16,[(11/98)"] is incorporated by reference.

      (2) This material[document] may be inspected, copied, or obtained, subject to applicable copyright law, at the Kentucky Legislative Ethics Commission, 22 Mill Creek Park, Frankfort, Kentucky 40601,[8 a.m. to 4:30 p.m.,] Monday through Friday, 8:00 a.m. to 4:30 p.m.

 

JOHN SCHAAF, Executive Director

      APPROVED BY AGENCY: June 15, 2016

      FILED WITH LRC: June 15, 2016 at 11 a.m.

      PUBLIC HEARING AND PUBLIC COMMENT PERIOD: A public hearing on this administrative regulation shall be held on July 21, 2016 at 9:00 a.m. at the Legislative Ethics Commission, 22 Mill Creek Park, Frankfort, Kentucky 40601. Individuals interested in being heard at this hearing shall notify this agency in writing five workdays prior to the hearing of their intent to attend. If no notification of intent to attend the hearing is received by that date, the hearing may be canceled. This hearing is open to the public. Any person who wishes to be heard will be given an opportunity to comment on the proposed administrative regulation. A transcript of the public hearing will not be made unless a written request for a transcript is made. If you do not wish to be heard at the public hearing, you may submit written comments on the proposed administrative regulation. Written comments shall be accepted until close of business, August 1, 2016. Send written notification of intent to be heard at the public hearing or written comments on the proposed administrative regulation to the contact person.

      CONTACT PERSON: Kara L. Daniel, Counsel, Kentucky Legislative Ethics Commission, 22 Mill Creek Park, Frankfort, Kentucky 40601, phone [phone], fax [phone].

 

REGULATORY IMPACT ANALYSIS AND TIERING STATEMENT

 

Contact Person: Kara Daniel

      (1) Provide a brief summary of:

      (a) What this administrative regulation does: This regulation incorporates by reference a form that is required by statute to be filed by legislators, legislative candidates, and LRC major management personnel, and it provides instructions for submission of the form.

      (b) The necessity of this administrative regulation:

It is necessary to comply with the requirements of KRS 6.666 and 6.781.

      (c) How this administrative regulation conforms to the content of the authorizing statutes: This regulation sets out a prescribed form that is statutorily authorized and required for legislators, legislative candidates, and LRC major management personnel.

      (d) How this administrative regulation currently assists or will assist in the effective administration of the statutes: The regulation and material incorporated by reference sets out a form that is required to be filed by legislators, legislative candidates, and LRC employees to provide information to LEC as required by statute.

      (2) If this is an amendment to an existing administrative regulation, provide a brief summary of:

      (a) How the amendment will change this existing administrative regulation: The amendment updates the form and instructions for submission.

      (b) The necessity of the amendment to this administrative regulation: To conform to the requirements of KRS 6.666 and 6.781.

      (c) How the amendment conforms to the content of the authorizing statutes: It updates the prescribed form for legislators, legislative candidates, and LRC personnel to report information required by statute.

      (d) How the amendment will assist in the effective administration of the statutes: The amendment clarifies the regulatory language and updates the form incorporated by reference.

      (3) List the type and number of individuals, businesses, organizations, or state and local governments affected by this administrative regulation: This affects the KLEC, 138 legislators, any candidates for the General Assembly, and ten major managers employed by LRC.

      (4) Provide an analysis of how the entities identified in question (3) will be impacted by either the implementation of this administrative regulation, if new, or by the change, if it is an amendment, including:

      (a) List the actions that each of the regulated entities identified in question (3) will have to take to comply with this administrative regulation or amendment: Legislators, legislative candidates, and LRC major management personnel will have to complete the revised form in accordance with the requirements in the regulation and statutes.

      (b) In complying with this administrative regulation or amendment, how much will it cost each of the entities identified in question (3): An exact cost of compliance is unknown, but it is not anticipated that the amendment to this administrative regulation will increase current costs.

      (c) As a result of compliance, what benefits will accrue to the entities identified in question (3): The LEC will receive the information required by statute in a uniform format and legislators, legislative candidates, and LRC major management personnel will benefit from instructions and a form that enables them to easily comply with statutory requirements.

      (5) Provide an estimate of how much it will cost to implement this administrative regulation:

      (a) Initially: No increase in fees or funding is anticipated.

      (b) On a continuing basis: No increase in fees or funding is anticipated.

      (6) What is the source of funding to be used for the implementation and enforcement of this administrative regulation:

Kentucky Legislative Ethics Commission budgeted funds for the biennium.

      (7) Provide an assessment of whether an increase in fees or funding will be necessary to implement this administrative regulation, if new, or by the change, if it is an amendment: No increase in fees or funding is anticipated.

      (8) State whether or not this administrative regulation establishes any fees or directly or indirectly increases any fees: This regulation does not establish fees or directly or indirectly increase fees.

      (9) TIERING: Is tiering applied? No. Tiering was not appropriate in this administrative regulation because the administrative regulation applies equally to all those individuals or entities regulated by it.

 

FISCAL NOTE ON STATE OR LOCAL GOVERNMENT

 

      (1) What units, parts, or divisions of state or local government (including cities, counties, fire departments, or school districts) will be impacted by this administrative regulation? The amendments to this regulation impact the Kentucky Legislative Ethics Commission and members of the General Assembly, legislative candidates, and select employees of the Legislative Research Commission.

      (2) Identify each state or federal statute or federal regulation that requires or authorizes the action taken by the administrative regulation. KRS 6.666, 6.781, and 6.787.

      (3) Estimate the effect of this administrative regulation on the expenditures and revenues of a state or local government agency (including cities, counties, fire departments, or school districts) for the first full year the administrative regulation is to be in effect.

      (a) How much revenue will this administrative regulation generate for the state or local government (including cities, counties, fire departments, or school districts) for the first year? The amendments to this regulation do not create any additional revenue for the Kentucky Legislative Ethics Commission or other government entity. The amendments to this regulation do not create any additional revenue for the Kentucky Legislative Ethics Commission or other government entity.

      (b) How much revenue will this administrative regulation generate for the state or local government (including cities, counties, fire departments, or school districts) for subsequent years? The amendments to this regulation do not create any additional revenue for the Kentucky Legislative Ethics Commission or other government entity.

      (c) How much will it cost to administer this program for the first year? The amendments are not expected to increase costs for the Kentucky Legislative Ethics Commission budgeted funds for the biennium.

      (d) How much will it cost to administer this program for subsequent years? The amendments are not expected to increase costs for the Kentucky Legislative Ethics Commission budgeted funds for the biennium.

      Note: If specific dollar estimates cannot be determined, provide a brief narrative to explain the fiscal impact of the administrative regulation.

      Revenues (+/-):

      Expenditures (+/-):

      Other Explanation: The amendments only affect the format of a required form and the information gathered. They are not expected to have any fiscal impact.

Notation

      RELATES TO: KRS 6.787, 6.793

      STATUTORY AUTHORITY: KRS 6.666(5), (6)

      NECESSITY, FUNCTION, AND CONFORMITY: KRS 6.666(5) and (6) require the commission to promulgate administrative regulations to implement KRS 6.601 to 6.849 and to prescribe required forms. KRS 6.781 requires a member of the General Assembly, a candidate or nominee for election to the General Assembly, and an individual with major management responsibility in the legislative branch of state government to file statements of financial disclosure. KRS 6.787 requires the statements to be filed on a form prescribed by the commission. This administrative regulation establishes the required form.