[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4989 Introduced in House (IH)]







106th CONGRESS
  2d Session
                                H. R. 4989

     To amend the Federal Election Campaign Act of 1971 to require 
candidates for election for Federal office who sell personal assets to 
 report information on the sale of the assets to the Federal Election 
                              Commission.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 27, 2000

   Mr. Cook introduced the following bill; which was referred to the 
                   Committee on House Administration

_______________________________________________________________________

                                 A BILL


 
     To amend the Federal Election Campaign Act of 1971 to require 
candidates for election for Federal office who sell personal assets to 
 report information on the sale of the assets to the Federal Election 
                              Commission.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Campaign Finance Disclosure on Sales 
of Personnel Assets Act of 2000''.

SEC. 2. REQUIRING CANDIDATES TO REPORT INFORMATION ON SALES OF PERSONAL 
              ASSETS.

    (a) In General.--Section 304 of the Federal Election Campaign Act 
of 1971 (2 U.S.C. 434) is amended by adding at the end the following 
new subsection:
    ``(d)(1) If an individual who is a candidate for election for 
Federal office or any member of such individual's immediate family 
sells any personal asset for a price equal to or greater than $1,000 
during the period described in paragraph (2), the individual shall file 
a statement with the Commission not later than 10 days after the sale 
(or, in the case of a sale occurring within 10 days of the election, 
not later than 48 hours after the sale) containing a description of the 
asset, the identification of the purchaser, the price at which the 
asset was sold, and the amount of any profit (or loss) which resulted 
from the sale.
    ``(2) The period described in this paragraph is the period which 
begins on the date the individual first becomes a candidate for 
purposes of this Act and ends on the date of the election for the 
office the individual seeks.
    ``(3) The statement required under this subsection shall be in 
addition to all other reporting requirements under this Act.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply with respect to sales of assets which occur on or after the date 
of the enactment of this Act.
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