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1. the person enters into a contract with the local governmental <br />entity or the local governmental entity is considering entering into <br />a contract with the person; and <br />2. the person: <br />A. has an employment or other business relationship with the <br />local government officer or a family member of the officer <br />that results in the officer or family member receiving taxable <br />income, other than investment income, that exceeds $2,500 <br />during the 12-month period preceding the date that the <br />officer becomes aware that: <br />(i) a contract described by Subdivision (1) has been <br />executed; or <br />(ii) the local governmental entity is considering entering <br />into a contract with the person; or <br />B. has given to the local government officer or a family member <br />of the officer one or more gifts that have an aggregate value <br />of more than $250 in the 12-month period preceding the date <br />the officer becomes aware that: <br />(i) a contract described by Subdivision (1) has been <br />executed; or <br />(ii) the local governmental entity is considering entering in <br />to a contract with the person. <br />(b) A local government officer is not required to file a conflicts <br />disclosure statement in relation to a gift accepted by the officer or a family <br />member of the officer if the gift is: <br />1. given by a family member of the person accepting the gift; <br />2. a political contribution as defined by Title 15, Election Code; or <br />3. food, lodging, transportation, or entertainment accepted as a <br />guest. <br />(c) A local government officer shall file the conflicts disclosure <br />statement with the records administrator of the local governmental entity <br />not later than 5 p.m. on the seventh business day after the date on which the <br />9 <br />