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Portantino Bill Would Require Politicians to Reveal More About their Finances

A bill by Assemblymember Anthony Portantino to update financial reporting for politicians and public officials has been approved in the Assembly Appropriations Committee. Portantino says the Form 700, Statement of Economic Interest, gives the public a way to keep tabs on the outside financial interests of officeholders and other officials to ensure that they avoid conflicts of interest, but hasn't been updated in more than 35 years. Currently there are four ranges for investments, property and income. This bill would revise the dollar amounts associated with these ranges to 8 levels for investments and real estate and 10 levels for income ranges. Currently, he said, "the forms are so general with such wide reporting ranges it's almost impossible to figure out just how much outside money politicians are making."

Source: Portantino press release

- Brad Haugaard

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