(a) Upon appointment to a board, commission, authority, or task force authorized or created by State law, a person must file with the Secretary of State a disclosure of all contracts the person or his or her spouse or immediate family members living with the person have with the State and all contracts between the State and any entity in which the person or his or her spouse or immediate family members living with the person have a majority financial interest.
     (b) Violation of this Section is a business offense punishable by a fine of $1,001.
     (c) The Secretary of State must adopt rules for the implementation and administration of this Section. Disclosures filed under this Section are public records.