Microsoft Word Definitions.doc


1 City of Bowie Ethics Commission 15901 Excalibur Road, Bowie, MD 20716 P: 301-809-3075 F: 301-809-2302 Definitions “ Attributable interest ” means: 1. Any interest held by a member of th e immediate family of the person making the statement, if such interest was at a ny time during the reporting period directly or indirectly controlled by the person making the statement. 2. Any interest held by a business entity in which the individual held a thirty at any time during the reporting period. percent (30%) or greater interest 3. Any interest held by a trust or an estate in which, at anytime during the t held a reversionary interest or was a reporting period (1) the person making the statemen trust, was a settler. A trust, within the meaning of this beneficiary, or (2) if a revocable subsection, does not include a co mmon trust fund or a trust wh ich forms part of a pension or profit-sharing plan which has more than twenty-five (25) participants and which has been determined by the Internal Revenue Se rvice to be a qualifi ed trust under the appropriate sections of the In ternal Revenue Code. §2-71 G. ” means any corporation, general or limited partnership, sole “ Business Entity proprietorship, joint venture, unincorporated association or firm, institution, trust, foundation, or other organization, whether or not operated for profit. “Business entity” does not include a governmental entity. §2-68 A. ” means: Having or negotiating a contract that involves the “ Doing business with commitment, either in a single transaction or a combination of transactions of Five Thousand Dollars ($5,000) or more of City or City-controlled funds , or being regulated by or otherwise subject to the authority of th ered as a lobbyist in e City; or being regist accordance with §2-73 of this Article. §2-68 D. “ Financial interest ” means: 1. Ownership of any interest as a resu lt of which the owner has received, within any of the past three (3) years, or is presently receiving, or in the future is entitled to receive, more than One Thousa nd Dollars ($1,000) per year; or

2 securities of the kind representing or 2. Ownership, or the ownership of e percent (3%) of a bus iness entity by a City convertible into ownership, of more than thre official or employee, or the spouse of an official or employee. §2-68 G. Gift “ ” means the transfer of anything of econo mic value regardless of the form without clude a political campaign adequate and lawful consid eration. “Gift” does not in ticle, Annotated Code of Maryland, or any contribution regulated under the Elections Ar cal law regulating the conduct of elections or th e receipt of other provision of state or lo political campaign contributions. §2-68 H. “Immediate Family ” means an individual’s spouse a nd independent children. §2-68 I. ” means any legal or equitable economic in terest, whether or not subject to an “ Interest encumbrance or a condition, that is owned or held, in whole or in part, jointly or severally, directly or indirectl y. For purposes of §2-71 of this Article, “interest” includes any interest(s) held at any time during the repo rting period. “Interest” does not include: 1. An interest held in the capacity of an agent, custodian, personal representative, trustee, or other fiduciary unless the hol der has an equitable interest therein; nd deposit in a financial institution; 2. An interest in a time or dema 3. An interest in an insurance or en dowment policy or annuity contract under which an insurer promises to pay a fixed number of dollars either in a lump sum or me other specified period; periodically for life or so 4. A common trust fund or a trust that forms part of a pension or profit sharing plan which has more than twenty-five (25) pa rticipants and that ha s been determined by the Internal Revenue Service to be a qualifie d trust under the Internal Revenue Code; or 5. A college savings plan under the Internal Revenue Code; 6. A mutual fund that is publicly trad ed on a national scale unless the mutual fund is composed primarily of holdings of stocks and interests in a specific sector or area that is regulated by the City. §2-68 J. “ Person ” means an individual or a business entity. §2-68 N. ” means a spouse, parent, child, br other, or sister. §2-68 O. “ Qualified relative

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