HomeMy WebLinkAboutREP FC 361 08/09/1983 1980-1984 • 411
Report of the
COMMITTEE ON FINANCE
August 9 , 1983
Chairman and Members
Hawaii County Council
Hilo, Hawaii
Your Committee on Finance to which was referred:
Bill 952: FINANCIAL DISCLOSURE
(Draft 2) Amends Article 8 of Chapter 2 , Hawaii County Code,
relating to financial disclosure;
(Intr . by: Mr . Fujii)
recommends Bill 952 , Draft 2, be amended by incorporating proposed
changes, as circulated. (Copy attached)
Further recommends Bill 952, Draft 3 , be. adopted on second and final
reading.
TOMIO FUJII, CHAT
FC Report No. 361
Adopted: AUG 17 1983
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111 411
Amendment to Bill No. 952, Draft 2
Page 4
(c) The disclosure of financial interests shall state, in addition to
the financial interests of the person disclosing, the financial
interests of the person 's spouse and dependent children, and
shall include:
(1 ) The source, nature, and amount of all income of $1 ,000 or
more received by the person in his own name or by any other
person for his use or benefit during the preceding calendar
year; provided that information that may be privileged by
law need not be disclosed.
is hereby amended to read:
(c) The disclosure of financial interests shall state [, in
addition to] the financial interests of the person disclosing,
[the financial interests of the person 's spouse and dependent
children,] whether held in his name or in the name of another
person, for his use and benefit, and shall include:
(1 ) the source, nature, and amount of all income of $1 ,000 or
more received [by the person in his own name or by any other
person for his use or benefit] during the preceding calendar
year; provided that information that may be privileged by
law neednotbe disclosed.
Justification
This proposed amendment accomplishes the intent contained in Bill No.
952, Draft 2, as it pertains to disclosures by the spouse and depen-
dent children. Under this amendment, if the spouse or dependent
children are holding assets or receiving income in behalf of the
person disclosing, these financial interests must be disclosed.
However, the amendment protects the privacy of the spouse and depen-
dent children, by not requiring them to disclose any financial infor-
mation, which the person disclosing has no interest in whatsoever.
This would protect a spouse who owns a business in which the person
disclosing has no interest, and who would be most reluctant to make
a public disclosure, for instance, which might be used by a competitor.
In another instance, a dependent child should not be required to disclose
a financial asset obtained, for instance, through divorce or from a
parent of a previous marriage.
The counties of Maui and Kauai do not require disclosure of financial
interests from spouse or dependent children unless the financial interest
is being held for the benefit of the person disclosing.
*Deletions in brackets
Amendments are underscored
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Amendment to Bill No. 952, Draft 2
Page 6
Page 6 is amended by adding a new paragraph:
(8) Where an amount is required to be reported, the person disclosing
may indicate whether the amount is at least $1 ,000 but less than
$10,000; at least $10,000 but less than $25,000; at least $25,000
but less than $50,000; at least $50,000 but less than $100,000;
at least $100,000 but less than $150,000; or $150,000 or more. An
amount of stock may be reported by number of shares.
Justification
Exact amounts are not as important to know, as it is to know who the
amounts are paid to or from who they are received.
This amendment is patterned after state financial disclosure provisions
on amounts, Section 84-17.
*Amendments are underscored
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Amendment to Bill No. 952, Draft 2
Page 6 -
(d) (2) The form for all public financial disclosures shall be as
prescribed by the County Clerk. All confidential disclosures
shall be filed with County board of ethics.
This paragraph shall be amended to read:
(d) (2) The form for all public financial disclosures shall be as
prescribed by the County Clerk. The County Clerk shall also
provide a short form of disclosure for subsequent annual
filings and for disclosures required when leaving office or
employment with the County, in those instances where the
financial interests of the person disclosing are substantially
the same as those reported for the preceding disclosure period.
The forms for confidential disclosures shall be as prescribed
by the County board of ethics.
Justification
The annual filing forms are complicated enough that, where there is
negligible or no change to the disclosing person's financial statement,
then a short form should suffice.
*Amendments are underscored
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