The Political Reform Act (Government Code Sections 81000 – 91015) requires state, local public officials, and designated employees to publicly disclose their financial interests when assuming office, annually, and leaving office. They must also disqualify themselves from participating in decisions that may affect their personal financial interests. The Fair Political Practices Commission (FPPC) is the State agency responsible for issuing the Statement of Economic Interest (Form 700), and for interpreting the law’s provisions.
These public filings help officials and employees monitor their financial interests, identify when those interests might conflict with their government actions, and take steps to avoid conflicts of interests.
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When must the Form 700 be filed?
The deadline for submitting the 2021 Annual Form 700 (2021/2022) is April 1, 2022.
- Assuming Office: Within 30 days of the assumed office date.
- Annual: Due by April 1 each year, or the following Monday if it falls on the weekend.
Exception: if you assumed office between October 1 and December 31, the Assuming Office Form 700 will act as both Assuming Office and Annual combined.
- Leaving Office: Within 30 days of the leaving office date.
Remember to file on time – any person who is referred to FPPC’s Enforcement Division for not filing is subject to a late fine of $10 per day per position up to $100 for each day the statement is late.
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