Relating to financial reporting requirements for labor organizations.

Requires labor organization that is exclusive representative of public employees to prepare annual financial disclosure report describing labor organization's expenditures of moneys collected by and paid to labor organization. Requires labor organization to submit copy of report to Employment Relations Board each year and make report available to employees within bargaining unit in manner prescribed by board by rule. Requires board to make report accessible to public on Internet. Allows board to impose civil penalties against labor organization that fails to comply with reporting requirements.