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• Author: Lays, Julie
• Position: TRENDS

This year's elections may be behind us, but discussions of financial disclosure requirements continue. Although no state requires candidates to release their tax returns, many contenders do as a matter of custom.

All but three states--Idaho, Michigan and Vermont--require state legislators to file personal financial disclosures, also called statements of economic interest. Most also require lawmakers to update these files annually.

Lawmakers usually are required to state their occupation, the sources of their income, the names of corporations in which they hold a position such as director or officer, the addresses of their property, the names of creditors and debtors and names of businesses in which they hold a financial interest. Income amounts are not required in 30 states; in the other 17, filers must disclose an amount or a range.

More than two-thirds of the states also require information about spouses and dependent children. Thirty-one states require disclosing any connections lawmakers or their family members have with state agencies; 18 also require disclosure of associations with lobbyists.

Twenty-six states require lawmakers whose work involves clients--attorneys, accountants, physicians, etc.--to disclose client information...