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FOR IMMEDIATE RELEASE
April 30, 2002
PR-102-02
www.nyc.gov


MAYOR MICHAEL R. BLOOMBERG SIGNS BILL RAISING THRESHOLD ON CITY EMPLOYEES WHO MUST FILE FINANCIAL DISCLOSURE REPORTS


Remarks by Mayor Bloomberg at a Public Hearing on Local Laws

"The bill before me today is Introductory Number 181, sponsored by Council member Sears at my request. This bill would increase the salary threshold that automatically requires City employees to file financial disclosure reports with the New York City Conflicts of Interest Board.

"Currently, City employees who earn $72,200 or more are required to file financial disclosure reports. Due to planned salary increases derived from collective bargaining agreements, a large number of superior officers in the Police, Fire and Sanitation Departments, who have not had to file in the past, have received increases that would require them to file financial disclosure reports under current law.

"These city employees were never intended to be covered by the financial disclosure law. Introductory Number 181 will allow us to properly amend the law to continue their exemption by increasing the minimum salary threshold required for filing from $72,200 to $83,500."

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Contact: Ed Skyler / Jordan Barowitz
(212) 788-2958