The deadline for public officials to complete a Statement of Economic Interests with the South Carolina State Ethics Commission is Monday, March 30, at noon.
Submitting these forms each year is a requirement of South Carolina law. Public officials must use the SEI form to report their income as well as any economic interest in real, personal or business property, according to SC Code Section 8-13-1110.
Although they must complete the form by March 30 each year, this is not the only time when officials must submit the form. Those hired into positions that require an SEI must also submit the form within 10 days of their hiring.
The State Ethics Commission offers a video that provides detailed instructions, both on how to file the SEI, and how to file campaign disclosures.
Who must file?
Here are the municipality-related positions that must complete an SEI form:
- All public officials, including those elected or appointed by a municipality or other political subdivision of the state.
- Most candidates for public office, excluding candidates for federal offices.
- Any person appointed to fill the unexpired term of an elected official.
- Administrators by whatever title. This includes city administrators, managers, supervisors, or chief administrative officials. It also includes municipal clerks, and the administrators of entities such as regional planning councils, airport commissions, water and sewer districts, or development commissions.
- Chief finance and chief purchasing officials of municipalities and other political subdivisions, such as regional planning councils, airport commissions, water and sewer districts, or development commissions.
What is an economic interest?
State law defines an economic interest as “an interest distinct from that of the general public in a purchase, sale, lease, contract, option, or other transaction or arrangement involving property or services in which a public official, public member, or public employee may gain an economic benefit.”
The economic interests that officials must not only disclose their own business dealings and property, but also those of immediate family members as well. The fines charged to the individual official, not the municipality, for overdue SEI submissions can be substantial. Once the forms become overdue, fines for not filing them can increase daily until they hit maximum amounts.
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