LegiStorm: Transparency's Sidekick

Rep. Heath Shuler (D-N.C.) has been under fire recently amid allegations that real estate assets listed on his 2008 personal financial disclosure were omitted from his 2009 disclosure.

The assets are also at the center of another controversy for the former NFL quarterback regarding a potential conflict of interest.

Several real estate development companies are listed as having $0 in value. A note says the companies no longer have any assets; "however, no money was paid or rec'd by Shuler." Shuler did list partnership stakes in The Highlands Property Group LLC and Shuler Properties LLC worth between $1 million and $5 million each. According to the Asheville Citizen-Times, the development companies were folded into the Highlands Property Group LLC.

One day before Illinois Governor Rob Blagojevich was arrested on corruption charges, the Chicago Tribune ran a story on another Illinois politician whose real estate dealings have created at least an impression of shady dealings.

The Tribune's Monday report details real estate deals that have netted Rep. Luis Gutierrez (D-Ill.) more than $400,000 - many of them done with contributors to his campaign. The article cites Gutierrez as saying the real estate deals present no conflict of interest because he is not involved in local zoning matters, but the Tribune reports Gutierrez has asked Chicago politicians to support regulation changes that would benefit his supporters.

Gutierezz disclosed the real estate deals on his personal financial disclosures, which are available at LegiStorm.

Rep. Charles Rangel (D-N.Y.) announced Monday he will repay back taxes on unreported income he received from a rental property in the Dominican Republic - income he also did not report as required on his Personal Financial Disclosures.

In Rangel's most recent financial disclosure, he lists the villa in Punta Cana, Dominican Republic, as an asset worth between $250,001 and $500,000, with no rental income. However, it has recently become known the Congressman earned about $75,000 in income from the property since 1988.

A congressman, Rep. Roscoe Bartlett (R-Md.), says he will be amending his personal financial disclosure after a local newspaper, the Frederick News-Post, reported that he failed to disclose about $1 million in real estate sales as well as real estate loans he provided.

The congressman called it a simple oversight due to inattention and confusion over several properties. "Nothing sinister, not trying to hide anything," he told the News-Post.

We expect that with the greater availability of financial disclosures of both members and staff, which LegiStorm put online for the first time this year, more such disclosures are likely.