1.1 	A bill for an act
1.2 	relating to legislative ethics; requiring the senate and house of representatives to 
1.3 	adopt rules prohibiting improper use of confidential information by legislators;
1.4 	proposing coding for new law in Minnesota Statutes, chapter 3.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. [3.057] IMPROPER USE OF CONFIDENTIAL INFORMATION BY 
1.7 	LEGISLATORS.
1.8 		Subdivision 1.Definitions. (a) For purposes of this section, the terms defined in 
1.9 	this subdivision have the meanings given.
1.10 	(b) "Confidential information" means any information provided to, acquired by, or 
1.11 	received by a legislator in connection with the legislator's role or status as a legislator, 
1.12 	which is not available to the general public.
1.13 	(c) "Improper use of confidential information" means a legislator's use of confidential 
1.14 	information to further the legislator's private financial interest, whether through purchase 
1.15 	or sale of an investment or otherwise.
1.16 	(d) "Legislator" means a member of the Minnesota senate or Minnesota house of 
1.17 	representatives.
1.18 	(e) "Private financial interest" means any situation in which a legislator, or a member 
1.19 	of a legislator's family, benefits financially.
1.20 		Subd. 2.Legislative rules. The Minnesota senate and the Minnesota house of 
1.21 	representatives shall, no later than the conclusion of the 2012 legislative session, each 
1.22 	adopt internal rules specifically prohibiting improper use of confidential information by its 
1.23 	members and providing for appropriate internal punishment for violations.

1.24 	EFFECTIVE DATE. This section is effective the day following final enactment.