President Barack Obama announced stricter regulations for distribution of military equipment to local police forces Monday, while simultaneously calling for over $260 million in additional spending for police body cameras.

The announcement comes as the president is meeting with national civil rights leaders, representatives from law enforcement and his top advisers to address issues of racial tension between minority communities and the police tasked with protecting them.

"As the nation has observed, trust between law enforcement agencies and the people they protect and serve is essential to the stability of our communities, the integrity of our criminal justice system, and the safe and effective delivery of policing services," the White House said in a statement.

In addition to proposing a three-year, $263 million spending package which includes funding for 50,000 police body cameras, the Obama administration announced the creation of the "Task Force on 21st Century Policing" to regulate distribution of military equipment to local police and sheriffs.

"What he's asking his agencies to do is add a very specific layer of accountability," a senior administration official familiar with the program told the LA Times.

"These layers of accountability aren't currently present in the program."