“The next bill before me is Introductory Number 165, sponsored, at the request of our Administration, by Council Members Dickens, James, Martinez, Seabrook, Stewart, and Garodnick.  This bill amends the City’s financial disclosure law.

“The City’s financial disclosure law requires elected officials and many City employees to disclose information about their finances to the Conflicts of Interest Board (COIB) on an annual basis.  This required financial disclosure allows COIB to manage and investigate any potential or existing financial conflicts of interest.  Intro 165 amends the City’s financial disclosure law to conform to recent changes in State Law, such as a change that requires the City to expand the list of required filers to include employees of the Housing Development Corporation.  Intro 165 also codifies current practices of the Conflicts of Interest Board that strengthen the integrity and transparency of the financial disclosure law.  For example, employees of the Mayor’s office, who, as a matter of policy, currently file financial disclosure reports with the COIB, will now be required to do so by law. 

“When fully implemented, Introductory Number 165 will strengthen our financial disclosure law, ensuring efficient and ethical operation of government free from financial conflicts of interest.I would like to thank the City Council, and the Conflicts of Interest Board Director Mark Davies and his staff for their work on this bill and their leadership and commitment to this issue.”