• Florida’s new financial disclosure requirements, known as Form 6, are leading to numerous resignations among elected officials in various municipalities.
• The requirements were established by Senate Bill 774, which was signed into law by Governor Ron DeSantis on May 11, after passing both the Senate and the House with significant majorities.
• Form 6 mandates that mayors and municipal governing body members disclose assets and liabilities over $1,000, their net worth, business ownerships exceeding 5%, and clients that constitute more than 10% of a business’s gross income.
• Elected officials have raised concerns about privacy, the burden of compliance, and the potential exposure of sensitive business information due to the new disclosure form.
• Failure to comply with Form 6 can result in daily fines, and severe violations could lead to impeachment, suspension, removal from office, and fines up to $20,000, prompting resignations in several Florida counties.
References:
[1] Why are many elected officials resigning in Florida? Form 6 explained.. Link