No official or department or division head of a municipality or community renewal agency or department or officers with responsibility for making or supervising any decisions in the exercise of community renewal project powers and responsibilities under RCW 35.81.150 shall voluntarily acquire any interest, direct or indirect, in any community renewal project, or in any property included or planned to be included in any community renewal project of such municipality, or in any contract or proposed contract in connection with such community renewal project. Whether or not such an acquisition is voluntary, the person acquiring it shall immediately disclose the interest acquired in writing to the local governing body and such disclosure shall be entered upon the minutes of the governing body. If any such official or department or division head owns or controls, or owned or controlled within two years prior to the date of the first public hearing on the community renewal project, any interest, direct or indirect, in any property that he or she knows is included in a community renewal project, he or she shall immediately disclose this fact in writing to the local governing body, and such disclosure shall be entered upon the minutes of the governing body, and any such official or department or division head shall not participate in any action on that particular project by the municipality or community renewal agency. Any willful violation of the provisions of this section shall constitute misconduct in office.

Severability—Savings—Construction—2002 c 218: See notes following RCW 35.81.005.