Nearly all states require legislators to disclose specific types of personal financial information, including occupation or income, business associations, and owned property.
Occupation or general income disclosure requirements often mandate that public officials identify any source of income, such as employment, professional services, gifts, honoraria, and others. Several states also include spousal income, but many also provide value thresholds under which no disclosure is necessary.
Although not always strictly “income,” disclosure laws may extend to relationships with businesses, such as ownership interests, investments, or any held positions of authority. Disclosing certain types of assets or debts may also be required, such as interests in real estate or trusts.
When a disclosure requirement exists, the rules might ask for specific amounts or values of an income source, asset, or debt. Alternatively, legislators may only need to indicate approximate ranges of value or may not be required to provide any information regarding amounts.
The following table provides information on the personal financial disclosures required of state legislators in each jurisdiction, divided into four columns: occupation or general income requirements, business associations, property, and amount categories.
Many states specify disclosure requirements by statute, but some do not. In these cases, states may defer to legislative rules or rules promulgated by ethics commissions to dictate what must be disclosed. The following table addresses statutory requirements only, so references to other rule sources may be required to understand the full scope of disclosure requirements in all states and territories.
This table is intended to provide general information and does not necessarily address all aspects of this topic. Because the facts of each situation may vary, this information may need to be supplemented by consulting legal advisors. All content is up to date through 02/23/2020.