WSR 09-10-045

PROPOSED RULES

PUBLIC DISCLOSURE COMMISSION


[ Filed May 1, 2009, 8:43 a.m. ]

Original Notice.

Preproposal statement of inquiry was filed as WSR 09-07-007.

Title of Rule and Other Identifying Information: Amends WAC 390-24-010 Forms for statement of financial affairs, to incorporate reporting of stock options on PDC form F-1.

Hearing Location(s): Commission Hearing Room, 711 Capitol Way, Room 206, Olympia, WA, on June 25, 2009, at 9:30 a.m.

Date of Intended Adoption: June 25, 2009.

Submit Written Comments to: Doug Ellis, Public Disclosure Commission, P.O. Box 40908, Olympia, WA 98504-0908, e-mail dellis@pdc.wa.gov, fax (360) 753-1112, by June 22, 2009.

Assistance for Persons with Disabilities: Contact Nicole Stauffer by phone (360) 586-0544.

Purpose of the Proposal and Its Anticipated Effects, Including Any Changes in Existing Rules: Amendments to WAC 390-24-010 would provide filers with guidance on reporting stock option information on PDC form F-1. Under the amended rule, filers would report when they first received stock options, if they retained the stock options but did not exercise them and if they exercised the options during the reporting period. If the vesting period expires during the current F-1 reporting period and the stock options were not exercised no reference to the options would appear on the F-1 form.

Reasons Supporting Proposal: To provide guidance and clarification regarding the public disclosure law to personal financial affairs filers who receive, retain or exercise stock options.

Statutory Authority for Adoption: RCW 42.17.370.

Statute Being Implemented: RCW 42.17.240.

Rule is not necessitated by federal law, federal or state court decision.

Name of Proponent: Public disclosure commission (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 minimal 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 the adoption of this rule pursuant to subsection (5)(a)(i) of section 201, and, to date, JARRC has not made section 201 application [applicable] to the adoption of this rule.

May 1, 2009

Doug Ellis

Assistant Director

OTS-2317.2


AMENDATORY SECTION(Amending WSR 08-19-058, filed 9/12/08, effective 11/5/08)

WAC 390-24-010   Forms for statement of financial affairs.   The official form for statements of financial affairs as required by RCW 42.17.240 is designated "F-1," revised ((11/08)) 7/09. Copies of this form are available at the Commission Office, 711 Capitol Way, Room 206, Evergreen Plaza Building, P.O. Box 40908, Olympia, Washington 98504-0908. Any paper attachments must be on 8-1/2" x 11" white paper.


((STRICKEN GRAPHIC
STRICKEN GRAPHIC))

((STRICKEN GRAPHIC
STRICKEN GRAPHIC))

((STRICKEN GRAPHIC
STRICKEN GRAPHIC))

((STRICKEN GRAPHIC
STRICKEN GRAPHIC))

((STRICKEN GRAPHIC
STRICKEN GRAPHIC))

((STRICKEN GRAPHIC
STRICKEN GRAPHIC))

[Statutory Authority: RCW 42.17.370. 08-19-058, 390-24-010, filed 9/12/08, effective 11/5/08. Statutory Authority: RCW 42.17.370(1). 08-01-070, 390-24-010, filed 12/14/07, effective 1/14/08. Statutory Authority: RCW 42.17.370 and 42.17.241 (1)(n). 07-04-084, 390-24-010, filed 2/5/07, effective 3/8/07. Statutory Authority: RCW 42.17.370. 06-18-034, 390-24-010, filed 8/28/06, effective 9/28/06; 05-06-070, 390-24-010, filed 3/1/05, effective 4/1/05; 02-20-036, 390-24-010, filed 9/24/02, effective 10/25/02. Statutory Authority: RCW 42.17.370(1). 00-22-053, 390-24-010, filed 10/27/00, effective 11/27/00. Statutory Authority: RCW 42.17.370 (1) and (11) and 42.17.241 (1)(n). 97-23-020, 390-24-010, filed 11/10/97, effective 1/1/98. Statutory Authority: RCW 42.17.370(1). 96-09-017, 390-24-010, filed 4/8/96, effective 5/9/96. Statutory Authority: RCW 42.17.370. 91-24-011, 390-24-010, filed 11/22/91, effective 12/23/91. Statutory Authority: RCW 42.17.370(1). 88-20-029 (Order 88-04), 390-24-010, filed 9/29/88; 86-19-039 (Order 86-06), 390-24-010, filed 9/12/86; 86-08-030 (Order 86-02), 390-24-010, filed 3/26/86; 85-24-020 (Order 85-05), 390-24-010, filed 11/26/85; 84-01-017 (Order 83-03), 390-24-010, filed 12/9/83; 80-18-028 (Order 80-07), 390-24-010, filed 12/1/80; 80-02-055 (Order 80-01), 390-24-010, filed 1/17/80; Order 94, 390-24-010, filed 10/31/77; Order 87, 390-24-010, filed 11/19/76; Order 62, 390-24-010, filed 8/26/75; Order 48, 390-24-010, filed 3/3/75; Order 44, 390-24-010, filed 9/26/74; Order 6, 390-24-010, filed 3/23/73.]

Washington State Code Reviser's Office