New Equity Report Required of Lobbyists & Lobbying Firms in Pennsylvania
Starting this year, Pennsylvania is requiring all registered lobbyists and lobbying firms to file an Annual Equity Report.
The report must disclose: (1) how much equity, as a percentage, the lobbyist/lobbying firm holds or has held in an affiliate principal, and (2) for whom the lobbyist/lobbying firm lobbied during the reporting period. The report must be filed even if the lobbyist/lobbying firm has no equity to report.
Equity means any “interest or ownership,” which includes, but is not limited to: any interest in any shares (whether voting or nonvoting); membership interests (whether voting or nonvoting); partnership interests (whether general or limited); and any other interest that confers the right to receive a share of the profits or losses of, or distributions of property of, any partnership or business.
These annual reports will cover the period from July 1 through June 30. This year, the report is due by October 7. Starting in 2022, the reporting deadline will be July 30. Like other lobbying reports, the Annual Equity Report must be filed online. Reports will be available to the public.