Republican Massachusetts Gov. Charlie Baker has signed into law a bill aimed at overhauling the state’s campaign finance rules.

The new law requires state lawmakers and some mayoral candidates to adhere to a system that already covers statewide and county officials.

Under the new law signed Tuesday by Baker, state lawmakers must report campaign contributions and expenditures in monthly statements filed by their banks.

Democratic state Sen. Diana DiZoglio sponsored the bill and said increasing the frequency of campaign finance reports will result in more transparency.

DiZoglio said it’s important that voters be able to quickly access to information about those giving money to candidates and where candidates are spending their money.

The change will also help identify discrepancies between candidates’ public disclosures of campaign finance activity and their bank accounts.