Brewer explains Intro 398 fix for COIB financial disclosure value bands
Brewer explains that COIB's February 2026 update raising the ownership interest definition to $64,000 created an inconsistency where the bottom of the third disclosure band exceeded the top of that band's range at $60,000. Intro 398 resets the band ranges to fix this incongruity without changing who must disclose.
The second day we are voting on, second bill we are voting on today, makes technical edits to the conflict of interest boards disclosure requirements.
The admin code requires city elected officials, candidates for such offices, and certain public officers and employees to fill out disclosure reports about their financial interests with COIB, as we know.
The admin code sets seven value ranges or bands that a filer must choose from when reporting the value or amount of a particular financial interest.
COIB is required to update these bands every four years.
In February of this year, COIB increased the definition of...
Ownership interest to $64,000.
This caused the strange situation where the bottom of the third band of disclosure is $64,000, while the top of the range for that band remained at $60,000.
This bill will fix this incongruity by resetting the ranges of some of the bands.
The bill we are voting on today will only change which band an officer or employer discloses in.
It does not change the number of people who must disclose, nor does it affect which people must disclose.