Current through Register Vol. 54, No. 49, December 7, 2024
Section 7.151 - Adverse pecuniary interestAn employee, appointee or official in the Executive Branch of the Commonwealth may not do the following:
(1) Engage directly or indirectly in business transactions or private arrangement for profit which accrues from or is based upon his official position of authority.(2) Participate in the negotiation of our decision to award contracts, the settlement of claims or charges in contracts, the making of loans, the granting of subsidies, the fixing of rates, or the issuance of permits, certificates, guarantees or other things of value to, with or for an entity in which he has a financial or personal interest.(3) Hold any pecuniary interest in, or own shares or securities issued by, an entity regulated by 4 Pa.C.S. Part II (relating to the Pennsylvania Race horse Development and Gaming Act) (herein, a "regulated gaming entity"). This provision does not apply to interests held: (i) In mutual funds when the value of the interest owned does not exceed 1% of the total fair market value of the regulated gaming entity.(ii) Through defined benefit pension plans.(iii) Through a deferred compensation plan organized and operated under 457 of the Internal Revenue Code of 1986 (26 U.S.C.A. § 457).(iv) Through a tuition account plan organized and operated under 529 of the Internal Revenue Code (26 U.S.C.A. § 529).(v) Through a plan described in 401(k) of the Internal Revenue Code (26 U.S.C.A. § 401(k)).(vi) In an employer profit-sharing plan qualified under the Internal Revenue Code.(vii) In a regulated gaming entity prior to July 6, 2004, by individuals other than the following: (A) Employees of the Pennsylvania State Police or the Department of Revenue whose duties include any aspect of the gaming industry.(B) Members of the State Horse Racing Commission or the State Harness Racing Commission and their respective staff.(C) Public officials appointed by the Governor and Commonwealth employees under the Governor's jurisdiction.(D) Members of the board of the Public School Employees Retirement System and its employees.(E) Members of the board of the State Employees Retirement System and its employees.(F) Members of the board of the Independent Regulatory Review Commission and its employees.The provisions of this § 7.151 amended by Executive Order No. 1980-18, Revision No. 2, dated July 5, 2004, 34 Pa.B. 4013; amended by Executive Order No. 1980-18 Revision No. 3, dated April 25, 2005, 36 Pa.B. 4168; amended by Executive Order No. 1980-18 Revision 3 amended, dated May 9, 2007, 38 Pa.B. 2230. This section cited in 4 Pa. Code § 7.159 (relating to enforcement).