MAYOR BLOOMBERG SIGNS LEGISLATION MODIFYING THE CITY'S FINANCIAL DISCLOSURE LAW Remarks by Mayor Michael R. Bloomberg at a Public Hearing on Local Laws

“The first of three bills before me today is Introductory Number 968, sponsored at the request of the Mayor by Council Members Dickens, Koo, Palma and Williams. Introductory Number 968 will enable the City to conform its already extensive financial disclosure requirements to applicable provisions of State law.

“In addition to the various City public servants who already file annual statements disclosing certain financial interests, State law requires that the members, policymakers and contracting employees of City local public authorities, and the unpaid members of policymaking City boards and commissions file an annual disclosure report. This disclosure facilitates a determination as to whether their financial interests might conflict with their public service. The City’s Conflicts of Interest Board is responsible for collecting and retaining this information.

“Introductory Number 968 brings the City’s annual disclosure law into compliance with the applicable State law mandates by setting forth the information that must be reported by members, policymakers and contracting employees of City local public authorities, as well as members of policymaking City boards and commissions.

I would like to thank Counselor to the Mayor Michael Best, Conflicts of Interest Board Executive Director Mark Davies, Law Department Senior Counsel Andrea Berger and my Office of City Legislative Affairs for their work on this bill. I would also like to thank the City Council for approving this legislation.”