Preproposal statement of inquiry was filed as WSR 06-11-011.
Title of Rule and Other Identifying Information: New WAC 390-24-201 relating to limited liability partnerships (LLP's), limited liability companies (LLC's), and/or similar entities, and reporting requirements for the personal financial affairs statements (PDC F-1 forms) pursuant to RCW 42.17.241.
Hearing Location(s): Commission Hearing Room, 711 Capitol Way, Room 206, Olympia, WA 98504, on September 28, 2006, at 9:30 a.m.
Date of Intended Adoption: September 28, 2006.
Submit Written Comments to: Doug Ellis, Public Disclosure Commission (PDC), P.O. Box 40908, Olympia, WA 98504-0908, e-mail firstname.lastname@example.org, fax (360) 753-1112, by September 25, 2006.
Assistance for Persons with Disabilities: Contact Kami Madsen by phone (360) 586-0544.
Purpose of the Proposal and Its Anticipated Effects, Including Any Changes in Existing Rules: This rule is designed to capture, for reporting purposes, relative new entities such as limited liability partnerships (LLP's), limited liability companies (LLC's), and/or similar entities when filing statements of personal financial affairs as required under RCW 42.17.240.
Reasons Supporting Proposal: To provide guidance and clarification to the general public and persons subject to the disclosure law.
Statutory Authority for Adoption: RCW 42.17.241 (1)(n) and 42.17.370.
Statute Being Implemented: RCW 42.17.241.
Rule is not necessitated by federal law, federal or state court decision.
Agency Comments or Recommendations, if any, as to Statutory Language, Implementation, Enforcement, and Fiscal Matters: The new rule is designed to require limited liability partnerships (LLP's), limited liability companies (LLC's), and/or similar entities to file reports under RCW 42.17.241.
Name of Proponent: [PDC], governmental.
Name of Agency Personnel Responsible for Drafting and Implementation: Doug Ellis, 711 Capitol Way, Room 206, Olympia, WA 98504, (360) 664-2735; and Enforcement: Phil Stutzman, 711 Capitol Way, Room 206, Olympia, WA 98504, (360) 664-8853.
No small business economic impact statement has been prepared under chapter 19.85 RCW. The implementation of this rule amendment has minimum impact on small businesses.
A cost-benefit analysis is not required under RCW 34.05.328. The PDC is not an agency listed in subsection (5)(a)(i) of section 201. Further, the PDC does not voluntarily make section 201 applicable to this rule adoption pursuant to subsection (5)(a)(i) of section 201, and, to date, JARRC has not made section 201 application to the adoption of this rule.
June 29, 2006
WAC 390-24-201 Report of compensation by limited partnerships, limited liability partnerships, limited liability companies, and similar entities. For the purposes of filing financial disclosures required by RCW 42.17.241:
(1) The terms partnership, general partnership, limited partnership, limited liability partnership, and limited liability company as defined in Title 25 RCW will apply.
(2) Persons who have a partnership or membership in limited partnerships, limited liability partnerships, limited liability companies, and similar entities including but not limited to professional limited liability companies, shall file a personal financial affairs form (PDC F-1) as required in RCW 42.17.241, and shall also provide the information described in subsection (3) of this section.
(3) A person filing a personal financial affairs statement shall report the name of any limited partnership, limited liability partnership, limited liability company, professional limited liability company, and similar entity in which a partnership or membership is held by the person or member of the person's immediate family, and any title held. The person shall also report the following:
(a) Regarding a governmental unit in which the filer seeks or holds any office or position, if the entity has received compensation during the reporting period from the governmental unit, the value of the compensation and the consideration given or performed in exchange for the compensation; and
(b) The name of each governmental unit, corporation, partnership, joint venture, sole proprietorship, association, union, or other business or commercial entity from which the entity has received compensation in the amount equal to or greater than the amount specified in WAC 390-24-010 and 390-24-020 (the F-1 reporting forms) during the reporting period and the consideration given or performed in exchange for the compensation.