H.3186 would require lawmakers to disclose their private income sources and require more disclosure on their Statement of Economic Interests (SEI). Unfortunately, the bill fails to require the reporting of all income and all matters from which an elected official can obtain an economic interest — specifically matters dealing with economic development. Further, the bill does not revise the phrase “business with which he is associated” to cover businesses in which the legislator has less than a $100,000 or 5 percent interest – an obvious reporting loophole.
By South Carolina Policy Council
Since 1986 the South Carolina Policy Council Education Foundation has advocated innovative policy ideas that advance the principles of limited government and free enterprise. The Policy Council is the state’s meeting place for business leaders, policymakers, and academics – as well as engaged citizens – who want to see South Carolina become the most free state in the nation. For questions or comments on the articles on this website, please email Research Director Jamie Murguia.