FINANCIAL DISCLOSURE (2-156-150 et seq.)

Municipal Code of Chicago tit. 2, ch. 2-156, art. III

in effect

Municipal Code of Chicago § 2-156-150 Statements of financial interest.

2-156-150 Statements of financial interest. (a) For purposes of this article, the following persons shall be referred to as "reporting individuals": (i) Each elected official; (ii) Each alderman; (iii) Each appointed official, except a member of an agency that is solely advisory in nature and has no authority to make binding decisions, to enter into contracts or to make expenditures, other than expenditures necessarily incurred for research in connection with its advisory functions; (iv) Each mayor's office employee who is not solely clerical; (v) Each City Council employee and City Council contractor who is not solely clerical; (vi) Each department head; (vii) Each person who qualifies as candidate for city office; and (viii) Each employee listed by the board as a reporting employee as provided in subsection (b). (b) The board shall create, maintain, and update a list of reporting employees and officials. In creating or updating such list, the board, in consultation with the Department of Human Resources, shall first develop a list of relevant factors, such as the employee's contract management authority and the employee's likelihood of being involved in conflicts of interest issues. (c) Except as otherwise provided in subsection (d), each reporting individual shall file, within 30 days of becoming a reporting individual and not later than May 1st of each year thereafter, a verified written statement of financial interests in accordance with the provisions of this article, unless he has already filed a statement in that calendar year. (d) Statements of financial interests shall also be filed by the following: (i) An elected official at the time of filing his oath of office; (ii) A person whose appointment to office is subject to confirmation by the city council at the time when his name is submitted to the council for consideration; (iii) A person who qualifies as a candidate for city office within five days after qualifying as a candidate for city office; (iv) Any other person at the time he becomes a reporting individual, including city employees who become reporting individuals because they are newly hired or are receiving a pay increase, or a job or title change. (e) The department of human resources, the comptroller's office and the office of the mayor shall cooperate with the board of ethics in notifying persons listed in subdivisions (ii) and (iii) of subsection (d) of this section of their obligation to file statements of financial interests and in effecting the filing of such statements. (Prior code § 26.2-15; Added Coun. J. 5-16-90 p. 16204; Amend Coun. J. 1-12-93, p. 27633; Amend Coun. J. 12-7-05, p. 64870, § 1.6; Amend Coun. J. 7-25-12, p. 31123, § 1; Amend Coun. J. 7-29-15, p. 3567, § 1; Amend Coun. J. 3-13-19, p. 96315, § 2; Amend Coun. J. 7-20-22, p. 50671, § 1)

Municipal Code of Chicago § 2-156-160 Content of statements.

2-156-160 Content of statements. (a) Statements of financial interests shall contain the following information: (1) The name, address and type of any professional, business or other organization (other than the city) in which the reporting individual was an officer, director, associate, partner, proprietor or employee, or served in any advisory capacity, and from which any income in excess of $1,000.00 was derived during the preceding calendar year, and the category of such income as specified in subsection (b); (2) The nature of any professional, business or other services rendered by the reporting individual or by his or her spouse or domestic partner, or by any entity in which the reporting individual or his or her spouse or domestic partner has a financial interest, including the category of such financial interest as specified in subsection (b), the name and nature of the person or entity (other than the city) to whom or to which such services were rendered, and the category of the compensation as specified in subsection (b) if, during the preceding calendar year, (i) compensation in excess of $5,000.00 was received for professional or other services by the reporting individual, or by such individual’s spouse or domestic partner, or by an entity in which the reporting individual or his or her spouse or domestic partner has a financial interest and (ii) the person or entity was at any time in the preceding calendar year doing business with the city, or with the Chicago Transit Authority, Board of Education, Chicago Park District, Chicago City Colleges or the Metropolitan Pier and Exposition Authority. (3) The identity of any capital asset, including the address or legal description of real estate, and the category of the capital gain realized as specified in subsection (b), from which the reporting individual realized a capital gain of $5,000.00 or more in the preceding calendar year other than from the sale of the reporting individual's principal place of residence; (4) The name of any unit of government, other than the city, which employed the reporting individual during the preceding calendar year; (5) The name of any board on which the reporting individual serves and the position of the reporting individual in such board; (6) The name of any covered relative of the reporting individual who is registered as a lobbyist with the Board of Ethics, the Illinois Secretary of State, the Cook County Clerk, or any other unit of local government in the State, or who is an employee or full or part-owner of a city contractor; (7) Any improper gift that the reporting individual received and disposed of in accordance with Section 2-156-144 because such gift was given in violation of this chapter; (8) The name of any person from whom the reporting individual received during the preceding calendar year one or more gifts having an aggregate value in excess of $250.00, but not including gifts from relatives or domestic partners; (9) The name and instrument of ownership in any person conducting business in the city, in which the reporting individual had a financial interest during the preceding calendar year. Ownership interests in publicly held corporations need not be disclosed; (10) The identity of any financial interest in real estate located in the city, other than the principal place of residence of the reporting individual, and the address or, if none, the legal description of the real estate, including all forms of direct or indirect ownership such as partnerships or trusts of which the corpus consists primarily of real estate; (11) The name of, and the nature of the city action requested by, any person which has applied to the city for any license or franchise, or any permit for annexation, zoning or rezoning of real estate during the preceding calendar year if the reporting individual has a financial interest in such person; (12) The name of any person doing business with the city in relation to which person the reporting individual had a financial interest during the preceding calendar year, and the title or description of any position held by the reporting individual in such person; (13) The name and instrument of debt of all debts in excess of $5,000.00 owed by the reporting individual, as well as the name and instrument of debt of all debts in excess of $5,000.00 owed to the reporting individual, but only if the creditor or debtor, respectively, or any guarantor of the debt, has done work for or business with the City of Chicago in the preceding calendar year. Debt instruments issued by financial institutions whose normal business includes the making of loans of the kind received by the reporting individual, and which are made at the prevailing rate of interest and in accordance with other terms and conditions standard for such loans at the time the debt was contracted need not be disclosed. Debt instruments issued by publicly held corporations and purchased by the reporting individual on the open market at the price available to the public need not be disclosed; (14) Each City Council employee and City Council contractor shall identify the alderman or City Council committee or bureau for whom they work at the time of filing. (b) For purposes of subsection (a), income, financial interest, compensation, and capital gain shall be categorized as follows; (1) Income, financial interest, compensation or capital gain of $25,000.00 or more shall be Category A; (2) Income, financial interest, compensation or capital gain of $5,000.00 or more but less than $25,000.00 shall be Category B; and (3) Income, financial interest, compensation or capital gain of less than $5,000.00 shall be Category C. (c) If a reporting individual adds a new reportable financial interest since the individual’s last filing, that individual must file a supplement to the individual’s current statement of financial interests on file with the Board of Ethics within 30 days of such occurrence, in a manner prescribed by the Board of Ethics. (Prior code § 26.2-16; Added Coun. J. 5-16-90, p. 16204; Amend Coun. J. 12-10-97, p. 58942; Amend Coun. J. 4-29-98, p. 66709; Amend Coun. J. 6-23-04, p. 26935, § 7; Amend Coun. J. 7-25-12, p. 31123, § 1; Amend Coun. J. 7-29-15, p. 3567, § 1; Amend Coun. J. 4-10-19, p. 98807, § 1; Amend Coun. J. 12-18-19, p. 11945, § 1; Amend Coun. J. 7-20-22, p. 50671, § 1; Amend Coun. J. 9-18-24, p. 17377, § 1)

Municipal Code of Chicago § 2-156-170 Form for statement of financial interests.

2-156-170 Form for statement of financial interests. The statement of financial interests required to be filed with the board of ethics shall be completed in a manner and on a form prescribed by the board of ethics, and shall be verified, dated, and signed by the reporting individual personally. (Prior code § 26.2-17; Added Coun. J. 5-16-90, p. 16204; Amend Coun. J. 7-30-97, p. 50892; Amend Coun. J. 12-2-09, p. 78837, Art. 14, § 1; Amend Coun. J. 7-25-12, p. 31123, § 1)

Municipal Code of Chicago § 2-156-180 Filing of statements.

2-156-180 Filing of statements. (a) Not later than February 1st of each year, the city comptroller and the department of human resources shall certify to the board of ethics a list (current as of the prior January 1st) of the names and mailing addresses of the persons described in Section 2-156-150(a)(i), (ii), (iv) and (v) who are required to file a statement of financial interests. In preparing this list, the city comptroller and the department of human resources shall set out the names in alphabetical order and shall file a copy of the list with the board of ethics. Not less than 30 days before the due date for filing statements of financial interests, the city comptroller and the department of human resources shall certify to the board of ethics a supplemental list of those persons described in Section 2-156-150 who have, in the interim, become required to file a statement of financial interests. The supplemental list shall be in the same form and be filed in the same manner as the original list certified to the board of ethics. Not later than February 1st of each year, the office of the mayor shall certify to the board of ethics a list (current as of the prior January 1st) of the names and mailing addresses of the appointed officials described in Section 2-156-150(a)(iii) who are required to file statements of financial interests. In preparing this list, the office of the mayor shall provide names of the governmental bodies to which the officials have been appointed. (b) Not later than March 1st of each year, the board of ethics shall in writing notify all persons required to file statements of financial interests under this article. Notice shall be in the manner prescribed by the board of ethics. (c) The board of ethics shall deliver a receipt to each person who files a statement under this article, indicating that the person has filed such statement and the date of such filing. (d) Unless otherwise provided by law, all statements of financial interests shall be available for examination and duplication by the public in such manner and place as prescribed by the board of ethics. Each person examining or requesting duplication of a statement of financial interests must first make a request in a manner prescribed by the board of ethics, or make such request in the office of the board of ethics. Requests for the examination or duplication of a statement of financial interests shall be processed as soon as is practicable. (Prior code § 26.2-18; Added Coun. J. 5-16-90, p. 16204; Amend Coun. J. 7-30-97, p. 50892; Amend Coun. J. 12-7-05, p. 64870, § 1.6; Amend Coun. J. 12-2-09, p. 78837, Art. 14, § 1; Amend Coun. J. 7-25-12, p. 31123, § 1)

Municipal Code of Chicago § 2-156-190 Failure to file statement by deadline.

2-156-190 Failure to file statement by deadline. (a) If any person who is required to file a statement of financial interest pursuant to section 2-156-150(c) fails to file such a statement by April 1st, the board of ethics shall, within five business days after April 1st, notify such person of the May 1st deadline. Failure to file by May 1st shall constitute a violation of this chapter, except as provided in subsection (c). (b) Except as otherwise provided in section 2-156-150(d), any person who first becomes subject to the requirement to file a statement of financial interests shall be notified by the appointing or employing authority of the obligation to file and shall file his statement within 30 days of becoming a reporting individual. The appointing or employing authority shall notify the board of ethics of the identity of such persons. If such person fails to file such statement within the time period specified in this subsection, the board of ethics shall, within five business days after such time period, notify such person of his failure to file by the specified date. Such person shall file his statement of financial interests within 10 days after such notice. Failure to file within 10 days after such notice shall constitute a violation of this chapter, except as provided in subsection (c). (c) Any person who is required to file a statement of financial interests may effect one 30-day extension of time for filing the statement by filing with the board of ethics not less than ten days before the date on which the statement is due, a declaration of his intention to defer the filing of the statement. The filing of such declaration shall suspend application of the late filing fee for the duration of the extension. Failure to file by the extended deadline shall constitute a violation of this chapter. (d) A statement of financial interests is considered filed when it is properly completed and received by the board of ethics. A declaration of intention to defer filing is considered filed upon receipt by the board of ethics. (Prior code § 26.2-19; Added Coun. J. 5-16-90, p. 16204; Amend Coun. J. 7-30-97, p. 50892; Amend Coun. J. 12-2-09, p. 78837, Art. 14, § 1; Amend Coun. J. 7-25-12, p. 31123, § 1; Amend Coun. J. 7-29-15, p. 3567, § 1; Amend Coun. J. 3-13-19, p. 96315, § 2)

Municipal Code of Chicago § 2-156-200 Failure to file financial statements - Elected officials.

2-156-200 Failure to file financial statements - Elected officials. No elected official, or person appointed to be an elected official, shall be allowed to take the oath of office, continue in office or receive compensation from the city unless he has filed the statement of financial interest required by this chapter. (Added Coun. J. 7-25-12, p. 31123, § 1; Amend Coun. J. 7-29-15, p. 3567, § 1) Editor's note – Coun. J. 3-31-04, p. 20916, § 1.1, repealed a former § 2-156-200, which pertained to filing under prior order.

Source: City of Chicago, Municipal Code of Chicago (American Legal Publishing, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/chicago/latest/chicago_il/0-0-0-2604432Fetched: 10/24/2026