(a)    In this section, “local official” includes an individual who is designated as a local official and whose position is funded wholly or partly by the State.

(b)    (1)    Except as provided in paragraphs (2) and (3) of this subsection and subsection (c) of this section, the financial disclosure provisions enacted by a county or municipal corporation under § 5–807 of this subtitle:

(i)    shall be similar to the provisions of Subtitle 6 of this title; but

(ii)    in accordance with regulations adopted by the Ethics Commission and consistent with the intent of this title, may be modified to the extent necessary to make the provisions relevant to the prevention of conflicts of interest in that jurisdiction.

(2)    The financial disclosure provisions for elected local officials enacted by a county or municipal corporation under § 5–807 of this subtitle:

(i)    shall be equivalent to or exceed the requirements of Subtitle 6 of this title; but

(ii)    in accordance with regulations adopted by the Ethics Commission and consistent with the intent of this title, may be modified to the extent necessary to make the provisions relevant to the prevention of conflicts of interest in that jurisdiction.

(3)    The financial disclosure provisions for members of the Board of License Commissioners for Prince George’s County enacted by Prince George’s County under § 5–807 of this subtitle shall be equivalent to or exceed the requirements of Subtitle 6 of this title.

(c)    (1)    This subtitle does not compel the governing body of a county or municipal corporation to require a local official to file a financial disclosure statement except when the personal interest of the local official will present a potential conflict with the public interest in connection with an anticipated public action of the local official.

(2)    The governing body of a county or municipal corporation shall require a local official to file a financial disclosure statement at least annually to report on gifts received by the local official.

(3)    The financial disclosure provisions shall require that a statement be filed:

(i)    under paragraph (1) of this subsection sufficiently in advance of the action to provide adequate disclosure to the public; and

(ii)    by an elected local official under subsection (b)(2) of this section on or before April 30 of each year.

(d)    Financial disclosure provisions applicable to a candidate shall be consistent with the provisions applicable to an incumbent holding the office involved.