07 SB280/AP
Senate
Bill 280
By:
Senators Moody of the 56th, Staton of the 18th, Chance of the 16th and Shafer of
the 48th
AS PASSED
AS PASSED
AN
ACT
To
amend Code Section 50-25-7.7 of the Official Code of Georgia Annotated, relating
to ethical standards for the executive director and employees of the Georgia
Technology Authority, so as to provide that an officer or employee of such
authority shall not have greater than a 1 percent ownership interest in entities
doing business with the authority; to provide an effective date; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 50-25-7.7 of the Official Code of Georgia Annotated, relating to ethical
standards for the executive director and employees of the Georgia Technology
Authority, is amended by revising subsection (a) as follows:
"(a)
Neither the executive director nor any employee of the authority shall be
financially interested or have a personal beneficial interest in an amount
greater than 1 percent ownership interest in any firm, corporation, partnership,
or association which is involved either directly or indirectly in the purchase
of or contract for any materials, equipment, or supplies, or an ownership
interest greater than 1 percent in any such firm, corporation, partnership, or
association furnishing any such supplies, materials, or equipment to agencies or
the authority. Except as provided in subsection (b) of this Code section, it
shall be unlawful for the executive director or any of his or her assistants or
any employee of the authority to accept or receive, directly or indirectly, from
any person, firm, or corporation to whom any contract may be awarded any money
or anything of more than nominal value or any promise, obligation, or contract
for future reward or compensation."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.