NIFA Chairman Jon Kaiman says he will step down to run for Rep. Steve's Israel's seat in Congress.

Kaiman, of Great Neck, is head of the Nassau Interim Finance Authority, the watchdog group charged with overseeing the county's finances. He also serves as a special advisor to the governor on Superstorm Sandy storm relief.

Kaiman told News 12 that he will step down from both jobs to run for the seat, he didn't yet have a timetable for his departure.

As News 12 has reported, Israel made a surprise announcement in the beginning of January that he would not seek re-election. He has said he will instead pursue other passions and work on his second book.

Former Nassau County Executive Tom Suozzi, also a Democrat, has previously said he is interested in running for Israel's seat.