Illinois Administrative Code › Title 44 - GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT AND PROPERTY MANAGEMENT › Part 2600 - STATE BOARD OF ELECTIONS PROCUREMENT RULES › Subpart K - ETHICS › Section 2600.1020 - Disclosure of Financial Interests and Potential Conflicts of Interest

Current through Register Vol. 48, No. 28, July 12, 2024
a) For purposes of
				Section 50-35(b) of the Code, "parent entity" means a person who owns 100% of
				the bidding entity.
b) For purposes
				of Section 50-35(b)(1) of the Code, "contractual employment of services" means
				any contract to provide services to the State, whether as independent
				contractor or employee, that is by and between the State and the named
				individual.
c) Distributable or
				distributive income means the income of a company after payment of all
				expenses, including employee salaries and bonuses, and retained earnings, that
				is distributed to those entitled to receive a share of that income.
d) Personal services shall be any contract
				for services subject to the Code, including, for example, professional and
				artistic services, repair services, or cleaning and guard services, but
				excluding contracts with employees who are exempt from the Code under Section
				1-10(b)(4).
e) Once a disclosure is
				made in relation to a particular contract, the disclosure need not be repeated
				if the contract is amended.
f) 10K
				Disclosures
1) Any vendor subject to federal
				10K reporting requirements may submit its 10K to SBEL in satisfaction of the
				disclosure requirement of Section 50-35(b) of the Code provided the vendor also
				identifies the specific sections or parts in the 10K disclosure where SBEL may
				find information, if any, pertaining to those who have an ownership interest or
				an interest in the distributable income of the vendor or its parent, or other
				information that the vendor knows or reasonably should know identifies a
				potential conflict of interest with the State. If the financial interest or
				conflict of interest information requested by SBEL is not in the 10K, but is in
				a document referenced in the 10K, or in a document that may be submitted to the
				Securities Exchange Commission in conjunction with or in lieu of the 10K, then
				that additional documentation shall be provided as well.
2) 10K disclosures are available for public
				review. Any potential conflict of interest identified by the public and brought
				to the attention of the CPO shall be investigated.
3) In circumstances in which a vendor may
				submit a 10K disclosure in lieu of the specific disclosure requirements of the
				Code and for purposes of the Procurement Officer's duty to consider any
				conflict or potential conflict of interest that may exist, but that is not
				subject to specific disclosure requirements of the Code and this Part and that
				is not personally known by the Procurement Officer, the duty of the Procurement
				Officer "publicly known or reasonably available to the public" shall be
				satisfied by taking into consideration information identified by the vendor in
				the 10K disclosure and any information disclosed pursuant to public review of
				the 10K disclosure.