Gov. David Paterson plans to introduce what aides say will be the most comprehensive ethics reform package in state history. Under the so called 'Albany Reform Act,' which Paterson will announce in his State of the State Address Wednesday, an independent 13-member state ethics panel would oversee both the Executive and Legislative branches.

The panel would enforce much stricter public integrity guidelines, including full disclosure of any outside income by all state elected officials as well as disclosure of any business dealings they have with lobbyists.

All corporate campaign contributions would also be banned and new limits imposed on other contributions. Paterson's package, which would require approval from the legislature, also envisions creation of a new public campaign finance system for state legislative races, as well as term limits for all elected officials.

Paterson's proposal comes in the wake of the federal corruption conviction of former State Senate Majority Leader Joe Bruno.