CEO 74-3 -- September 3, 1974

FINANCIAL DISCLOSURE

INCLUSION OF VACATION OR RECREATIONAL HOME

To: Grover C. Robinson III, Representative, 1st District, Pensacola

Prepared by: Staff

SUMMARY:

Notwithstanding the exclusion of vacation or recreational homes from the statement of disclosure provisions, s. 112.3145(1)(e), F. S., as amended by Ch. 74-177, Laws of Florida, such exclusion is intended for holdings purely personal in nature and not private business transactions possibly affording a conflict of interest with public duty. The rental of a vacation or recreational home constitutes the act of granting use of an asset for consideration and is therefore a business transaction. Thus, recreational or vacation homes held out for rental on even a part-time basis come within the purview of disclosure requirements of s. 112.3145, F. S.

QUESTION:

Is a vacation or recreational home that is used personally part time but also held out for rental part time an excluded asset under s. 112.3145(1)(e), F. S.?

Your question is answered in the negative.

Section 112.3145(1)(e), F. S., Ch. 74-177, Laws of Florida, requires candidates and public officers to file a statement of disclosure including:

(e) A list of the total assets of each public officer or candidate, listed in order of size, excluding any asset which is equal to or less than fifteen percent of the total; any real property not situate in Florida and the personal residence and recreational or vacation homes of each public officer or candidate shall be excluded from the list. Each listed asset shall be identified only by type, location, address or legal description. (Emphasis supplied.)

The intent of the Financial Disclosure Act is to make the public aware of instances where a conflict of interest might arise between a public duty and a private business transaction or professional activity. In light of this purpose, the Legislature allowed exclusions from disclosure for holdings purely personal in nature, such as one's personal residence. When a vacation home is rented, it loses this purely personal character. The act of granting use of an asset for consideration is a business transaction, no matter how informal the transaction might be.

It is the opinion of the Ethics Commission that a recreational or vacation home that is held out for rental on even a part-time basis is not excluded from the required disclosure of s. 112.3145, F. S., s. 5, Ch. 74-177, Laws of Florida.