Financial Disclosure Passes in the Senate and House
Update: Oct 30-Nov 10, 2023
On November 1, the Michigan Senate passed Senate Bills 613 - 616, which are collectively referred to as the Financial Disclosure Package. This legislation, stemming from the passing of Proposal 1 of 2021, would require both state elected officials and their spouses to report their financial records. Specifically, elected officials and candidates will be compelled to report their income streams and assets that possess a value of $1000 or more.
This legislation passed with overwhelming bipartisan support, noting only two nay votes from Senator Lindsey (R-Coldwater) and Senator Runestad (R-White Lake). In the Michigan House, the Financial Disclosure Package passed after SBs 613 and 614 had two substitutes approved from the more than 20 rejected substitutes that were reviewed. The two agreed-upon substitutes require elected officials to disclose if their spouse worked with a state-registered vendor, both at present time or in the past. SBs 615 and 616 were approved favorably without substitutions. As these four bills reach the Governor’s desk for signing, Michigan becomes the 48th state to require financial disclosing from their elected officials.