NEW QUESTIONS FOR 2022 FILING YEAR
The Illinois General Assembly recently enacted Public Act 102-0662 which, among its many provisions, includes a complete overhaul of the content of the Statement of Economic Interests form that many public sector officials and employees are required to file annually.
For those persons required to file a 2022 Statement, the online filing portal has been updated to reflect the new legislation. The new form has 7 questions that differ considerably from the previous 8-question version. You will also find an updated “Instructions” section displayed on the log-in page, with guidance pulled directly from the new law.
NOTES ON QUESTION #1:
Many inquiries have already come in regarding what information to disclose for Question #1, which states:
If you have any single asset that was worth more than $10,000 as of the end of the preceding calendar year and is held in, or payable to, your name, held jointly by, or payable to, you with your spouse, or held jointly by, or payable to, you with your minor child, list such assets below. In the case of investment real estate, list the city and state where the investment real estate is located. If you do not have any such assets, list “non” below.
While the County Clerk’s office cannot provide legal advice to filers on what information should or should not be disclosed, we recommend consulting the statutory definition of an “Asset” found in the Illinois Governmental Ethics Act for assistance in answering Question #1.
(5 ILCS 420/1-102.5)
Sec. 1-102.5. “Asset” means, for the purposes of Sections 4A-102 and 4A-103, an item that is owned and has monetary value. For the purposes of Sections 4A-102 and 4A-103, assets include, but are not limited to: stocks, bonds, sector mutual funds, sector exchange traded funds, commodity futures, investment real estate, beneficial interests in trusts, business interests, and partnership interests. For the purposes of Sections 4A-102 and 4A-103, assets do not include: personal residences; personal vehicles; savings or checking accounts; bonds, notes, or securities issued by any branch of federal, state, or local government; Medicare benefits; inheritances or bequests, other than beneficial interests in trusts; diversified funds; annuities; pensions (including government pensions); retirement accounts; college savings plans that are qualified tuition plans; qualified tax-advantaged savings programs that allow individuals to save for disability-related expenses; or tangible personal property.
(Source: P.A. 102-664, eff. 1-1-22.)
Please utilize the above definition of “asset” as a guide to determining what should be disclosed in response to Question #1, as well as all other questions that ask for information on “assets”.
—————————————————————————————————————————————————————————————–The Illinois Governmental Ethics Act requires Will County elected and appointed officials and certain employees of units of local government to file a Statement of Economic Interests with the Will County Clerk’s Office each year. The units of local government certify to the Will County Clerk the persons within their organizations who meet the statutory criteria for filing.
Filing information is e-mailed to all persons certified to the Will County Clerk’s Office as being required to file by early February each year. Filers are required to file their Statement by May 1. Access your online account and file your Statement of Economic Interests and find other helpful information at the links below.
UNITS OF LOCAL GOVERNMENT INFORMATION
Each unit of local government must submit the list of persons within their organization who will need to file for the current year by February 1. Submit your list of required filers and find other helpful information at the links below.
- Instructions for using the portal to submit list.
- Frequently asked questions for units of local government.
- Who has to file?
For more information on Statements of Economic Interests email firstname.lastname@example.org or call (815) 740-4615.