Candidates forced to reveal finances under proposed bill

In a move to further transparency in Ohio’s government, a law is being proposed that would require candidates to disclose detailed information about their finances.

Candidates statewide would be forced to disclose federal tax returns going back four years, or provide a sworn statement showing all sources of income according to The Plain Dealer. They would also be required to file a sworn statement detailing their net worth, assets and liabilities of mroe than $1,000,  real property and intagible personal property.

“Ohioans deserve to know who’s lining the pockets of those who want to hold the state’s highest office,” said Rep. Mike Foley, D-Youngstown.

Candidates who fail to give up the information would receive a misdemeanor ethics violation.

Current law requires statewide candidates to disclose income sources over $500 but does not require exact amounts, according to The Columbus Dispatch.

The bill stems from governor candidate Rep. John Kasich’s release of only his 2008 tax return.

Foley and Rep. Robert F. Hagan, D-Youngstown, proposed the bill Thursday, May 6.