Amend the bill, as and if amended, page 28, line 7, by adding an appropriately numbered new SECTION to read:
/ SECTION __. Article 3, Chapter 1, Title 57 of the 1976 Code is amended by adding:
"Section 57-1-380. (A) For the purposes of this section, 'interested party' means the Secretary of the Department of Transportation, the State Highway Engineer, commissioners serving on the Department of Transportation Commission, or persons seeking appointment to the Department of Transportation Commission.
(B) No interested party may engage in a conflict of interest transaction prior to, during, or for five years following a term of service or employment.
(C) A conflict of interest transaction is a transaction with the Department of Transportation in which an interested party has a direct or indirect financial interest. A conflict of interest transaction is not voidable by the commission solely because of the interested party's interest in the transaction if either one of the following is true:
(1) the material facts of the transaction and the interested party's interest were disclosed or known to the commission or a committee of the commission, and the commission or a committee of the commission authorized, approved, or ratified the transaction; or
(2) the transaction was fair to the department.
If item (1) has been accomplished, the burden of proving the unfairness of any transaction covered by this section is on the party claiming unfairness. If item (1) has not been accomplished, the party seeking to uphold the transaction maintains the burden of proving fairness.
(D) For purposes of this section, an interested party has an indirect interest in a transaction if:
(1) another entity in which he has a material financial interest or in which he is a general partner is a party to the transaction;
(2) another entity of which he is a director, officer, member, or trustee is a party to the transaction and the transaction is or should be considered by the commission; or
(3) another entity of which an immediate family member has a material financial interest, or in which an immediate family member is a general partner, director, officer, member, or trustee, is a party to the transaction and the transaction is or should be considered by the commission.
(E) For the purposes of item (C)(1), a conflict of interest transaction is authorized, approved, or ratified if it receives the affirmative vote of a majority of the commissioners or committee members who have no direct or indirect interest in the transaction, but a transaction may not be authorized, approved, or ratified under this section by a single commissioner. If a majority of the commissioners who have no direct or indirect interest in the transaction vote to authorize, approve, or ratify the transaction, a quorum is present for the purpose of taking action under this section. The presence of, or a vote cast by, a commissioner with a direct or indirect interest in the transaction does not affect the validity of any action taken under item (C)(1) if the transaction is otherwise authorized, approved, or ratified as provided in that item.
(F) A person who violates this section is guilty of a felony and, upon conviction, must be fined not less than three thousand dollars or imprisoned not less than three years." /
Renumber sections to conform.
Amend title to conform.