ST ETHICS-REVOLVING DOOR

Amends the State Officials and Employees Ethics Act. Makes changes with respect to the revolving door prohibition. Sets the trigger at contracts with a cumulative value of over $50,000 (now, $25,000), and removes the requirement that the procurement participation of the former officer, member, or State employee was personal and substantial. Requires that the former officer, member, or State employee participated in making (now, made) a regulatory or licensing decision. Requires that a person subject to the revolving door prohibition must report to the appropriate ethics officer any offer of employment, compensation, or fees for services from a person or entity, or the entity's parent or subsidiary, that, during the last year of State service by the relevant officer, member, or State employee, sought or received (i) State contracts of more than $50,000 or (ii) a directly applicable regulatory or licensing decision. Provides penalties for failure to report within 5 business days after an offer. Permits (now, requires) granting of a waiver upon a showing that the prospective employment or relationship did not affect the procurement or regulatory decision. Provides that a showing must include at least a filed report. Prohibits the granting of a waiver to a person who has failed to file a report.