Relating to the sale or lease of real estate by regulatory agency officials and employees to persons subject to the agency’s regulatory authority, and making penalties applicable

This bill relates to governmental ethics by prohibiting state regulatory agency officials and employees from selling or leasing real estate to persons subject to the agency’s regulatory authority unless certain conditions are met. Under current law, officials and employees of state regulatory agencies are prohibited from selling or leasing goods or services to individuals, associations, or corporations subject to the agency authority of which the person is an official or employee. However, this prohibition does not apply if consent for such sale or lease is obtained from the agency consistent with rules adopted by the Iowa ethics and campaign disclosure board; if the official’s or employee’s agency duties are not related to the regulatory authority of the agency over the individual, association, or corporation; if the selling or leasing of the goods or services does not include advocacy on behalf of the individual, association, or corporation to the agency; and if the selling or leasing of the goods or services does not cause the official or employee to sell or lease goods or services to the agency on behalf of the individual, association, or corporation. The bill extends this prohibition and the exception to the sale or lease of real estate. A person who knowingly and intentionally violates the bill is guilty of a serious misdemeanor and may be reprimanded, suspended, or dismissed from the person’s position or otherwise sanctioned. A serious misdemeanor is punishable by confinement for no more than one year and a fine of at least $430 but not more than $2,560.