Section 312 IAC 25-8-7 - Reporting requirementsAuthority: IC 14-34-1-3
Affected: IC 14-34-2-6
Sec. 7.
(a) Each employee shall report all information required on the statement of employment and financial interests of the employee, his or her spouse, minor children, or other relatives who are full-time residents of the employee's home. The report shall be on OSM Form 705-1 as provided by the office.(b) The statement will set forth the following information regarding any financial interest: (1) Any continuing financial interests in business entities and nonprofit organizations through a pension or retirement plan, shared income, salary, or other income arrangement as a result of prior or current employment. The employee, his or her spouse, or other resident relative is not required to report a retirement plan from which he or she will receive a guaranteed income. A guaranteed income is one that is unlikely to be changed as a result of action taken by the commission.(2) Any financial interest in business entities and nonprofit organizations through ownership of stock, stock options, bonds, securities, or other arrangements, including trusts. An employee is not required to report mutual funds, investment clubs, or regulated investment companies not specializing in underground and surface coal mining operations.(3) Ownership, lease, royalty, or other interests or rights in lands or minerals. Employees are not required to report lands developed and occupied for a personal residence.(4) Debts owed to business entities and nonprofit organizations. Employees are not required to report debts owed to financial institutions (banks, savings and loan associations, credit unions) which are chartered to provide commercial or personal credit. Also excluded are charge accounts and similar short term debts for current and ordinary household and living expenses.(c) Requirements for employee certification, and, if applicable, a listing of exceptions are as follows: (1) The statement will provide for a signed certification by the employee that to the best of his or her knowledge: (A) none of the listed financial interests represent an interest in an underground or surface coal mining operation, except as specifically identified and described as exceptions by the employee as part of the certificate; and(B) the information shown on the statement is true, correct, and complete.(2) An employee is expected to:(A) have complete knowledge of his or her personal involvement in business enterprises, such as a sole proprietorship and partnership, his or her outside employment, and the outside employment of the spouse and other covered relatives; and(B) be aware of the information contained in the annual financial statement or other corporate or business reports routinely circulated to investors or routinely made available to the public.(3) The exceptions shown in the employee certification of the form must provide enough information for the director to determine the existence of a direct or indirect financial interest. Accordingly, the exceptions should: (A) list the financial interest;(B) show the number of shares, estimated value, or annual income of the financial interests; and(C) include any other information that the employee believes should be considered in determining whether or not the interest represents a prohibited interest.(4) Employees are cautioned to give serious consideration to their direct and indirect financial interests before signing the statement of certification. Signing the certification without listing known prohibited financial interests may be cause for imposing the penalties prescribed in section 3 of this rule, and Section 417(g) of the Surface Mining Control and Reclamation Act of 1977, Public Law 95-87.Natural Resources Commission; 312 IAC 25-8-7; filed Jun 21, 2001, 2:53 p.m.: 24 IR 3606, eff Dec 1, 2001; readopted filed May 29, 2007, 9:51 a.m.: 20070613-IR-312070146RFA; readopted filed Sep 19, 2013, 10:12 a.m.: 20131016-IR-312130125RFAReadopted filed 3/26/2019, 3:40 p.m.: 20190424-IR-312190011RFA