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HF 665

as introduced - 88th Legislature (2013 - 2014) Posted on 02/18/2013 01:38pm

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
 relating to public disclosure; modifying definition of associated business;
amending Minnesota Statutes 2012, section 10A.01, subdivision 5.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2012, section 10A.01, subdivision 5, is amended to read:


Subd. 5.

Associated business.

new text begin (a) new text end "Associated business" means deleted text begin andeleted text end new text begin a person
ornew text end association, corporation, partnership, limited liability company, limited liability
partnership, or other organized legal entity from which the individual receives
compensation in excess of $50, except for actual and reasonable expenses, in any month
as a director, officer, owner, member, partner, employer or employee, or whose securities
the individual holds worth $2,500 or more at fair market value.

new text begin (b) Associated business also means a lobbyist, principal, or interested person by
whom the individual is compensated in excess of $200 per year, except for actual and
reasonable expenses, for providing services as an independent contractor or consultant.
If an individual is compensated by a person or association for providing services to a
lobbyist, principal, or interested person, associated business includes both the person or
association that pays the compensation and the lobbyist, principal, or interested person to
whom the services are provided.
 new text end

new text begin (c) "Interested person" means a person or a representative of a person or association
that has a direct financial interest in a decision that the individual receiving the
compensation is authorized to make as a public or local official or will be authorized to
make upon becoming a public or local official. To be direct, the financial interest of
the person or association paying the compensation to the individual must be of greater
consequence to the payer than the general interest of other residents or taxpayers of the
individual's government unit.
 new text end