It is enacted by the General Assembly as follows:

SECTION 1. Section 22-10-9 of the General Laws in Chapter 22-10 entitled "Lobbying" is hereby amended to read as follows:

22-10-9. Financial reports -- (a) (1) Every person, corporation, or association that engages any person to act as a lobbyist concerning legislative matters, and the lobbyist, shall individually file with the secretary of state a complete and detailed report of all compensation paid to the lobbyist for lobbying, including the total amount expended for lobbying purposes, and an itemization of any expenditure, gift, or honorarium of twenty-five dollars ($25.00) or more for each occurrence concerning any legislative or executive official paid or incurred by the person, corporation, or association or lobbyist for the specific purpose of promoting or opposing in any manner the passage by the general assembly of, or the action by the governor on, any legislation governed by the provisions of this chapter. These reports shall include the names of the persons receiving or in whose behalf such expenditures have been made, and the reason, time, and place thereof.

(2) Any function to which the entire membership of the general assembly, or of either chamber thereof or of any legally constituted legislative committee or commission within the general assembly, is invited, which is sponsored by any person, corporation, or association having engaged any person to act as a lobbyist, or by any lobbyist, shall be deemed a lobbying activity, and any funds expended or incurred for that function shall be set forth in the financial report.

(3) The initial report shall be filed by the person, corporation, or association having engaged any person to act as a lobbyist and by the lobbyist at the time of their initial registration, and updated reports shall be filed with the secretary of state by the fifteenth (15th) day on the first Monday of each month thereafter, beginning in March until the final adjournment of the general assembly. A final report shall be filed no later than thirty (30) days after the final adjournment.

(4) All reports shall be on a form prescribed by the secretary of state, and the reports shall be open for public inspection.

(5) In the event no compensation has been paid or received, and no expenses have been paid or incurred, an annual statement to that effect may be filed with the secretary of state in lieu of the report form.

(b) During any special session of the general assembly, every person, corporation, or association that engages any person to act as a lobbyist, and every lobbyist so engaged, shall register within twenty-four (24) hours of the commencement of the session. The initial financial reports shall be filed within twenty-four (24) hours after the date of such employment for the special session, and updated reports shall be filed every fourteen (14) days thereafter. The final report shall be filed no later than seven (7) days after the date of adjournment.

SECTION 2. This act shall take effect upon passage.