New Jersey Senate Bill S795

New Jersey 2022-2023 Regular Session

• Introduced: 1/18/22
• Refer: 1/18/22

Caption

Requires candidates for Governor, Lieutenant Governor, State Senate, and General Assembly to disclose federal income tax returns.

Impact

Should this bill be enacted, it would fundamentally change the requirements surrounding the financial disclosure process for candidates in New Jersey. By necessitating the submission of federal tax returns along with financial disclosure statements, the state aims to provide voters with deeper insight into the financial backgrounds of those running for public office. This move could bolster public confidence in elected officials by enhancing accountability and transparency in the political arena.

Summary

Senate Bill S795 was introduced in the New Jersey Legislature on January 18, 2022, and it aims to enhance the transparency of financial disclosure among candidates for significant state offices. The bill specifically mandates that candidates for the positions of Governor, Lieutenant Governor, State Senate, and General Assembly must submit their federal income tax returns for the five most recent tax years. This requirement is set forth in an amendment to existing legislation, P.L.1981, c.129, which governs financial disclosures for political candidates in New Jersey.

Contention

The introduction of S795 is likely to spark debate between supporters who advocate for increased transparency and opponents who may view it as an invasion of privacy or an unnecessary burden on candidates. Some may argue that required public disclosure of tax information could discourage qualified individuals from running for office due to privacy concerns or the fear of political backlash stemming from their financial situations. The bill has the potential to ignite discussions on the balance between public transparency and individual privacy in political candidacy.