New bill aims to tighten legislative reporting requirements

A number group of legislator from both sides of the aisle today outlined a new bill that would force legislators to disclose exactly how much money they or their relatives have earned through public jobs and no-bid contracts.

The bill, known as the Legislators Financial Transparency and Accountability Act, is being touted as one of the first to come out of Gov. Corzine’s highly publicized reform package.

The legislation also aims to “revise and expand the scope of financial disclosure requirements” for members of the legislature.

“The Legislature must lead by example in the efforts to restore trust in government,” said State Sen. Fred Madden (D-Gloucester), who’s one of the bill’s primary sponsors. “Residents have a right to know whether a lawmaker or their family derives income from taxpayer-funded contracts,” said O’Toole (R-Essex).

 

  New bill aims to tighten legislative reporting requirements