1Prohibiting members of the General Assembly from having
2financial interests in certain entities.

3The General Assembly of the Commonwealth of Pennsylvania
4hereby enacts as follows:

5Section 1. Short title.

6This act shall be known and may be cited as the Legislator
7Financial Interest Act.

8Section 2. Definitions.

9The following words and phrases when used in this act shall
10have the meanings given to them in this section unless the
11context clearly indicates otherwise:

12"Immediate family member." A spouse, minor child or
13unemancipated child.

14"Legislator." A member of the General Assembly.

15"School entity." Any of the following:

16(1) A charter school.

17(2) A private school.

1(3) A business or nonprofit corporation that manages a
2school and that receives an appropriation of funds from the
3Commonwealth.

4Section 3. Prohibition.

5(a) General rule.--No legislator may own, hold a financial
6interest in or serve on the governing body of a school entity
7while in office and for a one-year period after leaving office.

8(b) Affidavit required.--Annually, on or before April 30, a
9legislator shall file an affidavit with the Chief Clerk of the
10Senate or the Chief Clerk of the House of Representatives, as
11applicable, affirming that neither the legislator nor an
12immediate family member of the legislator owns, holds a
13financial interest in or serves on the governing body of a
14school entity.

15Section 4. Effective date.

16This act shall take effect in 60 days.