(a)

(1) The Governor, Lieutenant Governor, Secretary of State, Treasurer of State, Auditor of State, Commissioner of State Lands, and Attorney General, in their official capacity, may accept gifts, grants, and donations of money or property on behalf of the state for any lawful public purpose.

(2) The President Pro Tempore of the Senate, in his or her official capacity, may accept gifts, grants, and donations of money or property on behalf of the Senate for any lawful public purpose.

(3) The Speaker of the House of Representatives, in his or her official capacity, may accept gifts, grants, and donations of money or property on behalf of the House of Representatives for any lawful public purpose.

(4) The Chief Justice of the Supreme Court, in his or her official capacity, may accept gifts, grants, and donations of money or property on behalf of the Supreme Court for any lawful public purpose.

(b) (1) Except as provided in subdivision (b)(2) of this section, the items received shall:

(A) Not be of such a personal nature that their use is limited to a specific person or persons;

(B) Be available to be enjoyed by the public at large; and

(C) Become property of the governmental entity to which they were donated.

(2) The designated officials may accept donations of money for the purpose of hosting the:

(A) Official swearing-in and inaugural events of the constitutional officers, Senate, House of Representatives, and Supreme Court justices;

(B) Official recognition event for the President Pro Tempore of the Senate; and

(C) Official recognition event for the Speaker of the House of Representatives.

(c) The public official accepting the gift, grant, or donation of money on behalf of the appropriate entity shall disclose to the Arkansas Ethics Commission on a quarterly basis:

(1) The gift, grant, or donation of money received;

(2) The person donating the gift, grant, or donation of money; and

(3) The estimated value of the gift, grant, or donation of money.