Section 41-16-82 Disclosure Statement; Establishment of Shared Electronic Systems.

(a) This article shall only apply to either of the following: (1) A proposed grant that exceeds twenty-five thousand dollars ($25,000). (2) A proposed contract that meets or exceeds the threshold for bid or other formal solicitations under Article 5 of Chapter 4 of Title 41 or any other law that requires formal solicitation procedures for awarding public contracts. (b)(1) All persons that, for the purpose of direct financial gain, submit a proposal, bid, contract, or grant proposal to the State of Alabama shall include a disclosure statement identical to, or provide the same required disclosures as, the disclosure statement developed by the Attorney General and approved by the Legislative Council. The disclosure statement shall not be required for any of the following: a. Contracts with publicly traded companies. b. Contracts for gas, water, and electric services where no competition exists or where rates are fixed by law or ordinance. c. Awards of economic development incentives. (2) In circumstances where a contract is awarded by competitive bid or other formal solicitation procedure, the disclosure statement shall be required only from the person awarded the contract and shall be submitted by that person within 30 days of the award. (c)(1) State agencies, departments, or divisions may establish electronic systems for submission of annual disclosure statements, and submission to the shared electronic systems shall satisfy the requirements for submitting a disclosure statement to the agency, department, or division. (2) Agencies, departments, and divisions may establish shared electronic systems to satisfy the requirements of this article.