Completing Your Statement of Economic Interest – Form 700 Does it or doesn’t it count as a gift?
When it comes to completing Form 700s accurately, don’t be left in the dark. Get the information you need to accurately account for your gifts, financial holdings, donations, and more so that you can file with peace of mind. California rules require public officials to keep track and report gifts (over $50) received throughout the year. Gifts need to be reported on their Statement of Economic Interest Form. Also referred to as “Form 700.” The gift limit reporting requirements (including loans, gifts, and travel payments) are part of the Political Reform Act of 1974.
Gary Scott Winuk, Kaufman Legal Group
Deborah Hanephin, Fair Political Practices Commission