{"id":866,"date":"2023-11-01T19:33:04","date_gmt":"2023-11-01T23:33:04","guid":{"rendered":"https:\/\/senatedems.com\/singh\/?p=866"},"modified":"2023-11-01T19:33:57","modified_gmt":"2023-11-01T23:33:57","slug":"financial-disclosure-bills","status":"publish","type":"post","link":"https:\/\/dev.senatedems.com\/singh\/2023\/11\/01\/financial-disclosure-bills\/","title":{"rendered":"Bipartisan\u00a0Senate Passes Major Financial Disclosure Bills, Follows\u00a0Through on Years-Long Effort, Voters\u2019 Will"},"content":{"rendered":"\n[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.22.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.22.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.22.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.22.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<p align=\"center\"><span><i>Legislation enacts Proposal 1 of 2022, spirit\u00a0of prior legislation\u00a0to improve government transparency<\/i>\u00a0<\/span><\/p>\n<p align=\"center\"><span>\u00a0<\/span><\/p>\n<p><span>LANSING, Mich. (Nov. 1, 2023) \u2014 Today, bipartisan\u00a0financial disclosure bills\u00a0(Senate Bills\u00a0<\/span><span><a href=\"http:\/\/legislature.mi.gov\/doc.aspx?2023-SB-0613\" target=\"_blank\" rel=\"noopener noreferrer\" data-auth=\"NotApplicable\" id=\"OWA26148b58-eb7f-33af-5f35-06a69f2c1977\" class=\"x_OWAAutoLink\" data-linkindex=\"1\">613<\/a><\/span><span>&#8211;<\/span><span><a href=\"http:\/\/legislature.mi.gov\/doc.aspx?2023-SB-0616\" target=\"_blank\" rel=\"noopener noreferrer\" data-auth=\"NotApplicable\" id=\"OWAb37711eb-59c4-edbb-4c6a-c3e32367d234\" class=\"x_OWAAutoLink\" data-linkindex=\"2\">616<\/a><\/span><span>)\u00a0passed the Senate nearly unanimously\u00a0and are now one step closer\u00a0to helping\u00a0improve government transparency and codify Proposal 1 of 2022\u00a0\u2014 which was supported by 2.8 million Michigan voters just last year.\u00a0After years of effort inside the Capitol and out, the Legislature is poised to finally bring\u00a0Michigan in line with the other 48\u00a0states\u00a0that\u00a0implement this type of disclosure.\u00a0<\/p>\n<p><\/span><span>The package of bills, sponsored by Sen.\u00a0<b>Jeremy Moss<\/b>\u00a0(D-Southfield),\u00a0Sen.\u00a0<b>Sam Singh<\/b>\u00a0(D-East Lansing), Sen.\u00a0<b>Mark Huizenga<\/b>\u00a0(R-Walker), and Sen.\u00a0<b>Ed McBroom\u00a0<\/b>(R-Waucedah Twp.), would improve government transparency by requiring financial disclosure of assets and income above certain thresholds from elected officials and candidates for public office. The bills also will require candidates and officeholders to disclose their spouse\u2019s employment, including their status as a registered lobbyist. Together, these four bills demonstrate the strong bipartisan leadership focused on this effort and commitment to making much-needed progress on this issue.\u00a0<\/p>\n<p><\/span><span>\u201cThis move towards transparency is a significant achievement in our ongoing efforts to make legislators accountable to the public,\u201d said Sen.\u00a0<b>Moss,<\/b> a longstanding champion for government transparency and chair of the Senate Elections and Ethics Committee. \u201cProp. 1 isn&#8217;t\u00a0the end; it\u2019s\u00a0the start of much-needed transparency laws in Michigan. It reflects our years-long goal of enacting Michigan&#8217;s first financial disclosure law \u2014 revealing conflicts of interest among lawmakers.\u201d\u00a0<\/p>\n<p><\/span><span>Per Proposal 1 of 2022, and going beyond it, the legislation passed today would ensure that starting next year on April 15th, each lawmaker must disclose: \u00a0<\/span><\/p>\n<ul>\n<li><span>Every source of income; \u00a0<\/span><\/li>\n<li><span>Assets\u00a0held for investment or production of income; \u00a0<\/span><\/li>\n<li><span>Significant liabilities; \u00a0<\/span><\/li>\n<li><span>Positions held in organizations; \u00a0<\/span><\/li>\n<li><span>Future employment agreements; \u00a0<\/span><\/li>\n<li><span>Spouse\u2019s occupation and more. \u00a0<\/span><\/li>\n<\/ul>\n<p><span>The Senate bills also extend this disclosure to candidates for office\u00a0so that voters can vet these potential conflicts as they decide on who they want to represent\u00a0them.\u00a0<\/p>\n<p><\/span><span>\u201cAs lawmakers, we must hold ourselves to a standard of accountability. Putting forth legislation that will require certain candidates for state elective office to file financial disclosure reports fully demonstrates\u00a0our commitment to prioritizing transparency and restoring trust,\u201d\u00a0said Sen.<b>\u00a0Singh<\/b>, Chair of the Senate Oversight Committee that previously reviewed and passed out the financial disclosure bills. \u201cLegislation like this has the power to change the way people view state government and their elected state leaders \u2014 and we are moving in a new, positive direction.\u201d\u00a0<\/p>\n<p><\/span><span>Currently, Michigan is one of only two states where lawmakers don&#8217;t have to file any type of public report about their personal finances. After extensive work by a bipartisan, bicameral, and stakeholder-informed workgroup, including working through the new language in our constitution, defining how the terms would be implemented, examining ways to build upon the ballot proposal, this bipartisan legislation successfully enacts Michigan\u2019s first-ever financial disclosure law.\u00a0<\/p>\n<p><\/span><span>\u201cThe voters demanded transparency, and we happen to agree with them! Measures to shine light on the state legislature and those who serve here are long overdue,\u201d said Senate Majority Leader\u00a0<b>Winnie Brinks<\/b> (D-Grand Rapids). \u201cI am proud that we are taking this important first step \u2014 led by a bipartisan coalition\u00a0\u2014\u00a0to establish\u00a0personal finance disclosure rules for state representatives, senators, the governor, attorney general, and secretary of state in accordance with\u00a0the ballot measure passed in 2022. When enacted, Michigan will finally be shedding the title of having worst-in-nation disclosure laws.\u201d\u00a0<\/p>\n<p><\/span><span>This legislative package marks a significant milestone in the years-long struggle\u00a0for increased transparency within Michigan\u2019s government and among its elected officials. Importantly, it stands as an initial\u00a0stride among potential future measures aimed at fostering even greater openness and accountability in the state\u2019s governance.\u00a0<\/span><\/p>\n<p align=\"center\"><span>###<\/span><\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n","protected":false},"excerpt":{"rendered":"<p>Legislation enacts Proposal 1 of 2022, spirit\u00a0of prior legislation\u00a0to improve government transparency\u00a0 \u00a0 LANSING, Mich. (Nov. 1, 2023) \u2014 Today, bipartisan\u00a0financial disclosure bills\u00a0(Senate Bills\u00a0613-616)\u00a0passed the Senate nearly unanimously\u00a0and are now [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":809,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Major Financial Disclosure Bills<\/title>\n<meta name=\"description\" content=\"Bipartisan Senate Passes Major Financial Disclosure Bills, Follows Through on Years-Long Effort, Voters\u2019 Will\" \/>\n<meta name=\"robots\" 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