A Winnipeg politician is criticizing a new law on election financing in Manitoba.

The provincial law on conflict of interest, Bill 35, was passed last month in the legislature. Known as the Municipal Conflict of Interest and Campaign Financing Act, Bill 35 comes into effect on Dec. 1.

As of that day, the assets and holdings of any municipal politician must be made public. And members of the public will be able to view those documents at the city clerk's office at City Hall.

In the past, Winnipeg politicians were required to register their assets with the city clerk, but they were not made public.

The new law also bans union and corporate contributions to municipal election campaigns and binds candidates to donating no more than $750 to their own campaigns.

Coun. Gord Steeves calls it "ridiculous, shortsighted and a knock against democracy."

'They're now in violation of the laws, and they'll be facing prosecution.'—Coun. Gord Steeves

"Let's say you ran in the last municipal election, [and] your campaign cost $30,000 [but] you only raised $25,000. The debt is in your name, so you pay if all off," he said. That practice was common in the past but would now be illegal because no candidate should have more than $750 listed in his or her name.

"They're now in violation of the laws, and they'll be facing prosecution," he said.

The law will also discourage some candidates — particularly those who aren't good at fundraising — from entering the municipal election campaign, Steeves said.

"This sort of personal donation [law] is designed to get away from the person who wants to put in all of their own dough because they're wealthy. But it will have the exact opposite effect. Mark my words," he said.

But Steeves's fellow Coun. Jenny Gerbasi supports the reforms.

"The business of city council often deals with land transactions, real estate and issues such as that, and if …[politicians] are involved in terms of some form of ownership or something, they need to be open about that," she said.

"This makes it more open and more transparent."