Controversial financial disclosure law goes into effect in Florida

JACKSONVILLE, Fla. — As the new year begins, there’s controversy over one new law going into effect that requires public officials to file a full financial disclosure at the time they qualify for office.

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The new legislation appears to have contributed to the resignation of Jacksonville Beach City Councilman Cory Nichols, who called the legislation “invasive and an overreach.”

The newly effective law will require public officials to file financial disclosures with the aim of increasing transparency between said officials and the public.

Read: Jacksonville Beach City Councilmember says he’s resigning due to ‘overly invasive’ disclosure law

Commissioners and mayors of cities, villages and towns and members of ethics commissions will have to file a Form 6 to disclose their net worth, the value of each asset and liability and income sources over $1,000.

Officials may also provide their most recent federal tax returns to disclose financial details.

Nichols cites this bill as part of the reason for its resignation alongside increasing professional responsibilities elsewhere.

The law also requires commissioners of community redevelopment agencies to complete annual ethics training.

Read: Florida activates changes to ‘Move Over’ law requiring drivers to get over for disabled vehicles

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