SEMINOLE, Fla. — A new law that takes effect next year is having several city council members across Florida resigning from their posts.

What You Need To Know

  •  Some local representatives in the bay area are resigning from their posts because of a new law requiring certain financial disclosures

  •  The law requires local councilpeople and commissioners, among other officials, to declare the worth and amount of income and assets worth more than $1,000

  •  One official says this is too much transparency and forces him to disclose things he "would only disclose to his wife"

  • If not properly done, fines could be up to $20,000

In Pinellas County, at least eight officials are leaving their post over new financial disclosure requirements.

After four years, it’s hard for Jim Olliver to imagine his time on the Seminole City Council is coming to an end.

“I’ll miss the people I’ve been part of this community now, the Seminole community, since I moved here in 1989,” Olliver said. “So lots of memories. It’s just a wonderful place.”

Despite being re-elected last year, December 18 will be his last city council meeting. He’s resigning on December 29 because of a new piece of legislation that goes into effect in 2024.

“I know it sounds hokey,” Olliver said, “but I thought this was an opportunity to give back to the community.”

For the last four years it had been, but starting January 1, local elected officials, like Olliver, would have to fill out a new financial disclosure form to be in office.

While the concept is nothing new, the previous law on the books required officials to fill out a form disclosing assets over $10,000, like income and property they might own.

This new law forces elected officials to fill out a form publicly declaring the worth and amount of income and assets worth more than $1,000.

“Every basically dollar that you own and where it’s located is out for all the public to see,” Olliver said.

Olliver, a retired and former collegiate vice president, says that was the last straw.

“It’s so invasive and so expansive,” said Olliver. “Every dollar.”

It’s not like Olliver is against transparency, he says that’s crucial for local, state and national government but this amount of transparency, to him, is a bit much.

“I have a stamp collection and a coin collection and that I had when I was a kid,” Olliver said. “I haven’t looked at it in 20 years, but I’m going to give it to my grandson someday. But I don’t know if it’s worth $1,000 or not. I just don’t know.”

And if it’s improperly done, the law says officials can be fined $20,000.

So far, about eight officials throughout Pinellas County that are resigning ahead of 2024 because of this new law.

Belleair’s Deputy Mayor, Tom Kurey, is stepping down from his post saying in a statement, in part, that the information they’re required to disclose as a result of this new law is “information which I have only shared with my wife, not other family members, and certainly not the public at large.”

So, ahead of his last council meeting, Olliver sits looking out at the council chambers with the concern that this new law will push other potential candidates away from leading cities they love.

The Florida League of Cities originally opposed this legislation, saying in part that it would deter qualified people from seeking office since most of these positions don’t offer a livable salary.

For example, Olliver says his monthly salary as a member of the Seminole City Council was about $550.