Public employees and officers: ethics; reporting requirements and definition of gift; modify. Amends secs. 3, 5, 7, 11, 13 & 15 of 2023 PA 281 (MCL 15.703 et seq.).

SB 1196 updates the Michigan Public Officers Financial Disclosure Act to clarify definitions and modify reporting requirements for state representatives, senators, and other public officers. The bill establishes new rules for how assets, liabilities, and income must be reported, including inflation adjustments for asset values every four years and specific thresholds for disclosing stocks, real estate, and debts. It also expands the scope of required disclosures to include details about a public officer's spouse, such as their occupation and whether they registered as a lobbyist. Additionally, the legislation refines the definition of a "gift" and clarifies what constitutes "earned" versus "unearned" income for the purpose of financial transparency.