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Form 700 - Statement of Economic Interests

Two types of public officials complete the Form 700.

  • If you file this form because you hold a position listed under Gov. Code section 87200, or you are filing as a board/commission member of a newly created agency not yet covered under a conflict-ofinterest code, disclose all of your economic interests in your agency’s jurisdiction. (See Appendix-1 for a complete list of 87200 filers and information on newly created agencies.)
  • If you file because your position is listed in a state or local agency’s conflict-of-interest code, review your disclosure categories because they will describe the specific interests you must report. Obtain your disclosure categories from your agency. They are part of your agency’s conflict-of-interest code, and are not contained in the Form 700.

The Political Reform Act (Gov. Code sections 81000- 91015) requires most state and local government officials and employees to publicly disclose their personal assets and income. They also must disqualify themselves from participating in decisions which may affect their personal economic interests. The Fair Political Practices Commission (FPPC) is the state agency responsible for issuing the attached Statement of Economic Interests, Form 700, and for interpreting the law’s provisions.

Gift Prohibition

Most state and local officials, employees, and candidates are prohibited from accepting gifts totaling more than $360 (effective January 1, 2005) in a calendar year from a single source. In addition, state officials, state candidates, and certain state employees are subject to a $10 limit per calendar month on gifts from lobbyists and lobbying firms registered with the Secretary of State. (See Appendix-7 for more detailed information.) State and local officials and employees also should check with their agency to determine if any other restrictions apply.

Gift Prohibition

Most state and local officials, employees, and candidates are prohibited from accepting gifts totaling more than $360 (effective January 1, 2005) in a calendar year from a single source. In addition, state officials, state candidates, and certain state employees are subject to a $10 limit per calendar month on gifts from lobbyists and lobbying firms registered with the Secretary of State. (See Appendix-7 for more detailed information.) State and local officials and employees also should check with their agency to determine if any other restrictions apply.

Honorarium Ban

Most state and local officials, employees, and candidates are prohibited from accepting an honorarium for any speech given, article published, or attendance at a conference, convention, meeting, or like gathering. (See Appendix-7 for more detailed information.)

Loan Prohibitions

State and local public officials may not receive any personal loan totaling more than $250 from an official, employee, or consultant of, or from anyone who contracts with, their governmental agencies. In addition, elected officials may not receive any personal loan totaling more than $500 from a single lender unless certain terms of the loan are specified in writing. Under certain circumstances, a personal loan that is not being repaid or is being repaid below certain amounts may become a gift to the official who received it. (See Appendix-10 for more detailed information.)

Disqualification

Public officials are, under certain circumstances, required to disqualify themselves from making, participating in, or attempting to influence governmental decisions that will affect their economic interests. This may include interests they are not required to disclose (for example, certain sources of income of $500 or more are not reportable, but may be disqualifying). Specific disqualification requirements apply to 87200 filers (for example, city councilmembers, members of boards of supervisors and planning commissioners).

These officials must orally identify the economic interest that creates a conflict of interest and leave the room before a discussion or vote takes place at a public meeting. For more information, consult Government Code section 87105 and regulation 18702.5, or refer to the booklet entitled “Can I Vote? Conflicts of Interest Overview,” all of which are available on the FPPC website. Visit www.fppc.ca.gov and click on the Library & Publications icon.

Post-Governmental Employment

Members of the State Legislature and certain state agency officials and employees who leave office are subject to restrictions on representing clients or employers before their former agencies. For more information, refer to the fact sheet entitled “Leaving Your State Job? Post-Employment Restrictions May Affect You,” available on the FPPC website. Registered Domestic Partners (Effective January 1, 2005)

When reporting activity for the year 2005, filers must report investments and interests in real property held by, and sources of income to, registered domestic partners. In most cases this will apply to assuming or leaving office statements. (In re Roberts (2004) 17 FPPC Ops. 9.)

Federal Employees (Effective January 1, 2005)

A federal officer or employee serving in an official federal capacity on a state or local government agency is not required to fill out the Form 700. (SB 1353, Chapter 484, Stats. 2004.)

Late Filing

The filing officer who retains originally signed statements of economic interests may impose a fine for any statement that is filed late. The fine is $10 per day up to a maximum of $100. Late filing penalties can be reduced or waived under certain circumstances. Persons who fail to timely file their Form 700 may be referred to the FPPC’s enforcement division (and in some cases to the Attorney General or district attorney) for investigation and possible prosecution. In addition to the late filing penalties, a fine of up to $5,000 per violation may be imposed.

For assistance concerning reporting, prohibitions, and restrictions under the Act:

  • Call the FPPC toll-free at (866) ASK-FPPC.
  • See the booklet entitled “Your Duty to File: A Basic Overview of State Economic Disclosure Law and Reporting Requirements for Public Officials.”

-- Raymond Lutz - 10 Sep 2007

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