I am not sure what practical effect this would have, but it could provide some interesting political stories, if anyone honestly reports things.
And what happens if they choose not report it?
This could be a big win for all the supermarket tabloids. They would not have to make up as many stories as they do now.
What kind of ridiculous bill is this? What lobbyist is going to disclose having sex with a politician as reporting a gift? It reminds me of the time I was pulled out of line by the Assistant Principal because my tie was not green enough for assembly and she instructed me to tell my teacher. Well, I was too embarrassed (and cunning) to do such a thing. But the memory still haunts me to this day!
It is hard to think of a legitimate reason for a bill like this, but I will do my best. If such a law was in effect, would a lobbyist who did not report it lose credibility when she made an accusation against a politician decades later? It could provide cover for the next Bill Clinton wannabe.
Why is it ridiculous? They currently do sleep with officials and it helps in their lobbying efforts.
If they are caught not reporting it, then perhaps they will lose their right to be a paid lobbyist.
If they do report it, then the official will take extra care to be impartial because of the extra scrutiny, or they may chose not to sleep with the lobbyists.
Greater transparency is is a good thing.