The Knesset on Wednesday passed the "Lapid 2 Law" by a vote of 32-13 in its second and third readings.
The new law obligates any candidate running for political office to disclose all financial contributions.
The law is often referred to as "Lapid 2" as it is widely perceived as being directed at well-known journalist Yair Lapid, who recently resigned his position at Channel 2 and announced his candidacy for political office.
Previously, another proposed law, referred to as the "Lapid Law," failed to pass. That law would have created a new cooling-off period for journalists to wait after leaving a position in media before being able to run for office.