SPRINGFIELD – A plan by State Senator Julie Morrison (D – Deerfield) that would increase transparency and modernize financial disclosure forms filled out by politicians, judges and certain state employees passed the Senate this morning.

“Our current financial disclosure process is antiquated and not built to properly disclose vital information that is the purpose behind this process,” Morrison said. “Taxpayers should be assured that their lawmakers are operating under the highest levels of ethics and transparency.”

Morrison’s plan, contained in Senate Bill 1289, updates the Statement of Economic Interest form, a financial disclosure form meant to increase transparency among elected officials and state employees involved with bidding and state contracts. The form has undergone few changes since it was enacted in 1972.

Senate Bill 1289 would increase financial disclosure of investment real estate, certain financial assets, additional income, debts and economic relationships with individuals or companies. The bill also requires disclosure of any immediate family members registered to lobby in Illinois.

Senate Bill 1289 passed the Senate today without opposition and now heads to the Illinois House for further debate.