07 LC
21 9431S
The
Senate Science and Technology Committee offered the following substitute to SB
280:
A
BILL TO BE ENTITLED
AN ACT
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
any
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,
nor
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laws and parts of laws in conflict with this Act are repealed.