Legislation that would require financial disclosure by candidates for state-level offices and officeholders was reported by the House Elections and Ethics Committee this week. Under the proposal, candidates and officeholders would have to divulge sources of income, including stocks, investments and real estate assets owned, business associations above a certain threshold, and any relatives registered as lobbyists. The same information would be required for the filer’s spouse and any dependent children. The bills were referred to the House Ways and Means Committee for consideration.
Michigan is one of only two states without a law requiring elected officials or candidates to disclose their personal finances.
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