Contractors doing business with Chicago would have to disclose any information involving "corrupt or unlawful activity" by their workers or “another individual involved in city business” under a proposed ordinance Mayor Rahm Emanuel plans to introduce at Wednesday's city council meeting.

In a news release, Emanuel said firms would see their contract with the city terminated if they fail to report such information. The corruption-fighting ordinance comes at the request of Chicago Inspector General Joe Ferguson.

“This is a key reform and I am thankful to the inspector general for this recommendation,” Emanuel said in a statement. “This initiative will reduce the opportunity for fraud and ensure that contractors are meeting the same obligations to protect the residents of Chicago that are required of city workers.”

If the ordinance is approved, Chicago would be one of the first large cities to require firms to report corruption. City of Chicago employees are currently required to report any corruption or unlawful activity.