Political Reform Act of 1974: conflict of interest codes.

The Political Reform Act of 1974 requires each state and local government agency to adopt and promulgate a conflict of interest code that establishes conflict of interest standards for designated employees of that agency and requires those employees to file statements of economic interest disclosing specified personal financial information. The act further requires specified public officials, including officials who manage public investments, to also file statements of economic interest, but does not require those officials to be specifically enumerated in the agency's conflict of interest code. This bill would require a board, commission, or agency of a public pension or retirement system to attach to its conflict of interest code an appendix that lists each position for which an individual occupying that position is required to file a statement of economic interests as a public official who manages public investments, as defined. The bill would further require the board, commission, or agency to post the appendix on its Internet Web site. This bill would impose a state-mandated local program by creating additional responsibilities for local governmental agencies. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to these statutory provisions. The Political Reform Act of 1974, an initiative measure, provides that the Legislature may amend the act to further the act's purposes upon a 23 vote of each house and compliance with specified procedural requirements. This bill would declare that it furthers the purposes of the act.