[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 1811 Reported in Senate (RS)]






                                                       Calendar No. 378
107th CONGRESS
  2d Session
                                S. 1811

                          [Report No. 107-152]

   To amend the Ethics in Government Act of 1978 (5 U.S.C. App.) to 
   streamline the financial disclosure process for executive branch 
                               employees.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           December 12, 2001

Mr. Thompson (for himself, Mr. Lieberman, Mr. Voinovich, Mr. Lugar, Mr. 
 Durbin, and Mr. Akaka) introduced the following bill; which was read 
      twice and referred to the Committee on Governmental Affairs

                 May 16 (legislative day, May 9), 2002

               Reported by Mr. Lieberman, with amendments
  [Omit the part struck through and insert the part printed in italic]

_______________________________________________________________________

                                 A BILL


 
   To amend the Ethics in Government Act of 1978 (5 U.S.C. App.) to 
   streamline the financial disclosure process for executive branch 
                               employees.

    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 ``Presidential Appointments 
Improvement Act of <DELETED>2001</DELETED> 2002''.

SEC. 2. PURPOSES.

    The purposes of this Act are to--
            (1) improve the Presidential appointment process without 
        violating the spirit and letter of conflict of interest laws; 
        and
            (2) provide a newly elected President the ability to submit 
        all nominations to the Senate for all Presidential appointments 
        as expeditiously as possible after the President takes office.

SEC. 3. PUBLIC FINANCIAL DISCLOSURE FOR JUDICIAL AND LEGISLATIVE 
              PERSONNEL.

    Title I of the Ethics in Government Act of 1978 (5 U.S.C. App.) is 
amended to read as follows:

  ``TITLE I--JUDICIAL AND LEGISLATIVE PERSONNEL FINANCIAL DISCLOSURE 
                              REQUIREMENTS

``SEC. 101. PERSONS REQUIRED TO FILE.

    ``(a) Within 30 days of assuming the position of an officer or 
employee described in subsection (f), an individual shall file a report 
containing the information described in section 102(b) unless the 
individual has left another position described in subsection (f) or 
section 201(f) within 30 days prior to assuming such new position or 
has already filed a report under this title with respect to nomination 
for the new position or as a candidate for the position.
    ``(b)(1) Within 5 days of the transmittal by the President to the 
Senate of the nomination of an individual to a position in the 
legislative or judicial branch, appointment to which requires the 
advice and consent of the Senate, such individual shall file a report 
containing the information described in section 102(b). Such individual 
shall, not later than the date of the first hearing to consider the 
nomination of such individual, make current the report filed pursuant 
to this paragraph by filing the information required by section 
102(a)(1)(A) with respect to income and honoraria received as of the 
date which occurs 5 days before the date of such hearing. Nothing in 
this Act shall prevent any congressional committee from requesting, as 
a condition of confirmation, any additional financial information from 
any Presidential nominee whose nomination has been referred to that 
committee.
    ``(2) An individual whom the President or the President-elect has 
publicly announced he intends to nominate to a position may file the 
report required by paragraph (1) at any time after that public 
announcement, but not later than is required under the first sentence 
of such paragraph.
    ``(c) Within 30 days of becoming a candidate as defined in section 
301 of the Federal Campaign Act of 1971, in a calendar year for 
nomination or election to the office of Member of Congress, or on or 
before May 15 of that calendar year, whichever is later, but in no 
event later than 30 days before the election, and on or before May 15 
of each successive year an individual continues to be a candidate, an 
individual other than an incumbent Member of Congress shall file a 
report containing the information described in section 102(b). 
Notwithstanding the preceding sentence, in any calendar year in which 
an individual continues to be a candidate for any office but all 
elections for such office relating to such candidacy were held in prior 
calendar years, such individual need not file a report unless he 
becomes a candidate for another vacancy in that office or another 
office during that year.
    ``(d) Any individual who is an officer or employee described in 
subsection (f) during any calendar year and performs the duties of his 
position or office for a period in excess of 60 days in that calendar 
year shall file on or before May 15 of the succeeding year a report 
containing the information described in section 102(a).
    ``(e) Any individual who occupies a position described in 
subsection (f) shall, on or before the thirtieth day after termination 
of employment in such position, file a report containing the 
information described in section 102(a) covering the preceding calendar 
year if the report required by subsection (d) has not been filed and 
covering the portion of the calendar year in which such termination 
occurs up to the date the individual left such office or position, 
unless such individual has accepted employment in another position 
described in subsection (f) or section 201(f).
    ``(f) The officers and employees referred to in subsections (a), 
(d), and (e) are--
            ``(1) a Member of Congress as defined under section 
        109(10);
            ``(2) an officer or employee of the Congress as defined 
        under section 109(11);
            ``(3) a judicial officer as defined under section 109(8); 
        and
            ``(4) a judicial employee as defined under section 109(6).
    ``(g) Reasonable extensions of time for filing any report may be 
granted under procedures prescribed by the supervising ethics office 
for each branch, but the total of such extensions shall not exceed 90 
days.
    ``(h) The provisions of subsections (a), (b), and (e) shall not 
apply to an individual who, as determined by the congressional ethics 
committees or the Judicial Conference, is not reasonably expected to 
perform the duties  of his office or position for more than 60 days in 
a calendar year, except that if such individual performs the duties of 
his office or position for more than 60 days in a calendar year--
            ``(1) the report required by subsections (a) and (b) shall 
        be filed within 15 days of the sixtieth day, and
            ``(2) the report required by subsection (e) shall be filed 
        as provided in such subsection.
    ``(i) The supervising ethics office for each branch may grant a 
publicly available request for a waiver of any reporting requirement 
under this section for an individual who is expected to perform or has 
performed the duties of his office or position less than 130 days in a 
calendar year, but only if the supervising ethics office determines 
that--
            ``(1) such individual is not a full-time employee of the 
        Government,
            ``(2) such individual is able to provide services specially 
        needed by the Government,
            ``(3) it is unlikely that the individual's outside 
        employment or financial interests will create a conflict of 
        interest, and
            ``(4) public financial disclosure by such individual is not 
        necessary in the circumstances.

``SEC. 102. CONTENTS OF REPORTS.

    ``(a) Each report filed pursuant to section 101 (d) and (e) shall 
include a full and complete statement with respect to the following:
            ``(1)(A) The source, type, and amount or value of income 
        (other than income referred to in subparagraph (B)) from any 
        source (other than from current employment by the United States 
        Government), and the source, date, and amount of honoraria from 
        any source, received during the preceding calendar year, 
        aggregating $200 or more in value and the source, date, and 
        amount of payments made to charitable organizations in lieu of 
        honoraria, and the reporting individual shall simultaneously 
        file with the applicable supervising ethics office, on a 
        confidential basis, a corresponding list of recipients of all 
        such payments, together with the dates and amounts of such 
        payments.
            ``(B) The source and type of income which consists of 
        dividends, rents, interest, and capital gains, received during 
        the preceding calendar year which exceeds $200 in amount or 
        value, and an indication of which of the following categories 
        the amount or value of such item of income is within:
                    ``(i) Not more than $1,000.
                    ``(ii) Greater than $1,000 but not more than 
                $2,500.
                    ``(iii) Greater than $2,500 but not more than 
                $5,000.
                    ``(iv) Greater than $5,000 but not more than 
                $15,000.
                    ``(v) Greater than $15,000 but not more than 
                $50,000.
                    ``(vi) Greater than $50,000 but not more than 
                $100,000.
                    ``(vii) Greater than $100,000 but not more than 
                $1,000,000.
                    ``(viii) Greater than $1,000,000 but not more than 
                $5,000,000.
                    ``(ix) Greater than $5,000,000.
            ``(2)(A) The identity of the source, a brief description, 
        and the value of all gifts aggregating more than the minimal 
        value as established by section 7342(a)(5) of title 5, United 
        States Code, or $250, whichever is greater, received from any 
        source other than a relative of the reporting individual during 
        the preceding calendar year, except that any food, lodging, or 
        entertainment received as personal hospitality of an individual 
        need not be reported, and any gift with a fair market value of 
        $100 or less, as adjusted at the same time and by the same 
        percentage as the minimal value is adjusted, need not be 
        aggregated for purposes of this subparagraph.
            ``(B) The identity of the source and a brief description 
        (including a travel itinerary, dates, and nature of expenses 
        provided) of reimbursements received from any source 
        aggregating more than the minimal value as established by 
        section 7342(a)(5) of title 5, United States Code, or $250, 
        whichever is greater and received during the preceding calendar 
        year.
            ``(C) In an unusual case, a gift need not be aggregated 
        under subparagraph (A) if a publicly available request for a 
        waiver is granted.
            ``(3) The identity and category of value of any interest in 
        property held during the preceding calendar year in a trade or 
        business, or for investment or the production of income, which 
        has a fair market value which exceeds $1,000 as of the close of 
        the preceding calendar year, excluding any personal liability 
        owed to the reporting individual by a spouse, or by a parent, 
        brother, sister, or child of the reporting individual or of the 
        reporting individual's spouse, or any deposits aggregating 
        $5,000 or less in a personal savings account. For purposes of 
        this paragraph, a personal savings account shall include any 
        certificate of deposit or any other form of deposit in a bank, 
        savings and loan association, credit union, or similar 
        financial institution.
            ``(4) The identity and category of value of the total 
        liabilities owed to any creditor other than a spouse, or a 
        parent, brother, sister, or child of the reporting individual 
        or of the reporting individual's spouse which exceed $10,000 at 
        any time during the preceding calendar year, excluding--
                    ``(A) any mortgage secured by real property which 
                is a personal residence of the reporting individual or 
                his spouse; and
                    ``(B) any loan secured by a personal motor vehicle, 
                household furniture, or appliances, which loan does not 
                exceed the purchase price of the item which secures it.
        With respect to revolving charge accounts, only those with an 
        outstanding liability which exceeds $10,000 as of the close of 
        the preceding calendar year need be reported under this 
        paragraph.
            ``(5) Except as provided in this paragraph, a brief 
        description, the date, and category of value of any purchase, 
        sale or exchange during the preceding calendar year which 
        exceeds $1,000--
                    ``(A) in real property, other than property used 
                solely as a personal residence of the reporting 
                individual or his spouse; or
                    ``(B) in stocks, bonds, commodities futures, and 
                other forms of securities.
        Reporting is not required under this paragraph of any 
        transaction solely by and between the reporting individual, his 
        spouse, or dependent children.
            ``(6)(A) The identity of all positions held on or before 
        the date of filing during the current calendar year (and, for 
        the first report filed by an individual, during the 2-year 
        period preceding such calendar year) as an officer, director, 
        trustee, partner, proprietor, representative, employee, or 
        consultant of any corporation, company, firm, partnership, or 
        other business enterprise, any nonprofit organization, any 
        labor organization, or any educational or other institution 
        other than the United States. This subparagraph shall not 
        require the reporting of positions held in any religious, 
        social, fraternal, or political entity and positions solely of 
        an honorary nature.
            ``(B) If any person, other than the United States 
        Government, paid a nonelected reporting individual compensation 
        in excess of $5,000 in any of the 2 calendar years prior to the 
        calendar year during which the individual files his first 
        report under this title, the individual shall include in the 
        report--
                    ``(i) the identity of each source of such 
                compensation; and
                    ``(ii) a brief description of the nature of the 
                duties performed or services rendered by the reporting 
                individual for each such source.
        The preceding sentence shall not require any individual to 
        include in such report any information which is considered 
        confidential as a result of a privileged relationship, 
        established by law, between such individual and any person nor 
        shall it require an individual to report any information with 
        respect to any person for whom services were provided by any 
        firm or association of which such individual was a member, 
        partner, or employee unless such individual was directly 
        involved in the provision of such services.
            ``(7) A description of the date, parties to, and terms of 
        any agreement or arrangement with respect to--
                    ``(A) future employment;
                    ``(B) a leave of absence during the period of the 
                reporting individual's Government service;
                    ``(C) continuation of payments by a former employer 
                other than the United States Government; and
                    ``(D) continuing participation in an employee 
                welfare or benefit plan maintained by a former 
                employer.
            ``(8) The category of the total cash value of any interest 
        of the reporting individual in a qualified blind trust, unless 
        the trust instrument was executed prior to July 24, 1995, and 
        precludes the beneficiary from receiving information on the 
        total cash value of any interest in the qualified blind trust.
    ``(b)(1) Each report filed pursuant to subsections (a), (b), and 
(c) of section 101 shall include a full and complete statement with 
respect to the information required by--
            ``(A) paragraph (1) of subsection (a) for the year of 
        filing and the preceding calendar year,
            ``(B) paragraphs (3) and (4) of subsection (a) as of the 
        date specified in the report but which is less than 31 days 
        before the filing date, and
            ``(C) paragraphs (6) and (7) of subsection (a) as of the 
        filing date but for periods described in such paragraphs.
    ``(2)(A) In lieu of filling out 1 or more schedules of a financial 
disclosure form, an individual may supply the required information in 
an alternative format, pursuant to either rules adopted by the 
supervising ethics office for the branch in which such individual 
serves or pursuant to a specific written determination by such office 
for a reporting individual.
    ``(B) In lieu of indicating the category of amount or value of any 
item contained in any report filed under this title, a reporting 
individual may indicate the exact dollar amount of such item.
    ``(c) In the case of any individual described in section 101(e), 
any reference to the preceding calendar year shall be considered also 
to include that part of the calendar year of filing up to the date of 
the termination of employment.
    ``(d)(1) The categories for reporting the amount or value of the 
items covered in paragraphs (3), (4), (5), and (8) of subsection (a) 
are--
            ``(A) not more than $15,000;
            ``(B) greater than $15,000 but not more than $50,000;
            ``(C) greater than $50,000 but not more than $100,000;
            ``(D) greater than $100,000 but not more than $250,000;
            ``(E) greater than $250,000 but not more than $500,000;
            ``(F) greater than $500,000 but not more than $1,000,000;
            ``(G) greater than $1,000,000 but not more than $5,000,000;
            ``(H) greater than $5,000,000 but not more than 
        $25,000,000;
            ``(I) greater than $25,000,000 but not more than 
        $50,000,000; and
            ``(J) greater than $50,000,000.
    ``(2) For the purposes of paragraph (3) of subsection (a) if the 
current value of an interest in real property (or an interest in a real 
estate partnership) is not ascertainable without an appraisal, an 
individual may list (A) the date of purchase and the purchase price of 
the interest in the real property, or (B) the assessed value of the 
real property for tax purposes, adjusted to reflect the market value of 
the property used for the assessment if the assessed value is computed 
at less than 100 percent of such market value, but such individual 
shall include in his report a full and complete description of the 
method used to determine such assessed value, instead of specifying a 
category of value pursuant to paragraph (1) of this subsection. If the 
current value of any other item required to be reported under paragraph 
(3) of subsection (a) is not ascertainable without an appraisal, such 
individual may list the book value of a corporation whose stock is not 
publicly traded, the net worth of a business partnership, the equity 
value of an individually owned business, or with respect to other 
holdings, any recognized indication of value, but such individual shall 
include in his report a full and complete description of the method 
used in determining such value. In lieu of any value referred to in the 
preceding sentence, an individual may list the assessed value of the 
item for tax purposes, adjusted to reflect the market value of the item 
used for the assessment if the assessed value is computed at less than 
100 percent of such market value, but a full and complete description 
of the method used in determining such assessed value shall be included 
in the report.
    ``(e)(1) Except as provided in the last sentence of this paragraph, 
each report required by section 101 shall also contain information 
listed in paragraphs (1) through (5) of subsection (a) of this section 
respecting the spouse or dependent child of the reporting individual as 
follows:
            ``(A) The source of items of earned income earned by a 
        spouse from any person which exceed $1,000 and the source and 
        amount of any honoraria received by a spouse, except that, with 
        respect to earned income (other than honoraria), if the spouse 
        is self-employed in business or a profession, only the nature 
        of such business or profession need be reported.
            ``(B) All information required to be reported in subsection 
        (a)(1)(B) with respect to income derived by a spouse or 
        dependent child from any asset held by the spouse or dependent 
        child and reported pursuant to subsection (a)(3).
            ``(C) In the case of any gifts received by a spouse or 
        dependent child which are not received totally independent of 
        the relationship of the spouse or dependent child to the 
        reporting individual, the identity of the source and a brief 
        description of gifts of transportation, lodging, food, or 
        entertainment and a brief description and the value of other 
        gifts.
            ``(D) In the case of any reimbursements received by a 
        spouse or dependent child which are not received totally 
        independent of the relationship of the spouse or dependent 
        child to the reporting individual, the identity of the source 
        and a brief description of each such reimbursement.
            ``(E) In the case of items described in paragraphs (3) 
        through (5) of subsection (a), all information required to be 
        reported under these paragraphs other than items (i) which the 
        reporting individual certifies represent the spouse's or 
        dependent child's sole financial interest or responsibility and 
        which the reporting individual has no knowledge of, (ii) which 
        are not in any way, past or present, derived from the income, 
        assets, or activities of the reporting individual, and (iii) 
        from which the reporting individual neither derives, nor 
        expects to derive, any financial or economic benefit.
            ``(F) For purposes of this section, categories with amounts 
        or values greater than $1,000,000 set forth in sections 102 
        (a)(1)(B) and (d)(1) shall apply to the income, assets, or 
        liabilities of spouses and dependent children only if the 
        income, assets, or liabilities are held jointly with the 
        reporting individual. All other income, assets, or liabilities 
        of the spouse or dependent children required to be reported 
        under this section in an amount or value greater than 
        $1,000,000 shall be categorized only as an amount or value 
        greater than $1,000,000.
Reports required by subsections (a), (b), and (c) of section 101 shall, 
with respect to the spouse and dependent child of the reporting 
individual, only contain information listed in paragraphs (1), (3), and 
(4) of subsection (a), as specified in this paragraph.
    ``(2) No report shall be required with respect to a spouse living 
separate and apart from the reporting individual with the intention of 
terminating the marriage or providing for permanent separation; or with 
respect to any income or obligations of an individual arising from the 
dissolution of his marriage or the permanent separation from his 
spouse.
    ``(f)(1) Except as provided in paragraph (2), each reporting 
individual shall report the information required to be reported 
pursuant to subsections (a), (b), and (c) of this section with respect 
to the holdings of and the income from a trust or other financial 
arrangement from which income is received by, or with respect to which 
a beneficial interest in principal or income is held by, such 
individual, his spouse, or any dependent child.
    ``(2) A reporting individual need not report the holdings of or the 
source of income from any of the holdings of--
            ``(A) any qualified blind trust (as defined in paragraph 
        (3));
            ``(B) a trust--
                    ``(i) which was not created directly by such 
                individual, his spouse, or any dependent child, and
                    ``(ii) the holdings or sources of income of which 
                such individual, his spouse, and any dependent child 
                have no knowledge of; or
            ``(C) an entity described under the provisions of paragraph 
        (8), but such individual shall report the category of the 
        amount of income received by him, his spouse, or any dependent 
        child from the trust or other entity under subsection (a)(1)(B) 
        of this section.
    ``(3) For purposes of this subsection, the term `qualified blind 
trust' includes any trust in which a reporting individual, his spouse, 
or any minor or dependent child has a beneficial interest in the 
principal or income, and which meets the following requirements:
            ``(A)(i) The trustee of the trust and any other entity 
        designated in the trust instrument to perform fiduciary duties 
        is a financial institution, an attorney, a certified public 
        accountant, a broker, or an investment advisor who--
                    ``(I) is independent of and not associated with any 
                interested party so that the trustee or other person 
                cannot be controlled or influenced in the 
                administration of the trust by any interested party;
                    ``(II) is not and has not been an employee of or 
                affiliated with any interested party and is not a 
                partner of, or involved in any joint venture or other 
                investment with, any interested party; and
                    ``(III) is not a relative of any interested party.
            ``(ii) Any officer or employee of a trustee or other entity 
        who is involved in the management or control of the trust--
                    ``(I) is independent of and not associated with any 
                interested party so that such officer or employee 
                cannot be controlled or influenced in the 
                administration of the trust by any interested party;
                    ``(II) is not a partner of, or involved in any 
                joint venture or other investment with, any interested 
                party; and
                    ``(III) is not a relative of any interested party.
            ``(B) Any asset transferred to the trust by an interested 
        party is free of any restriction with respect to its transfer 
        or sale unless such restriction is expressly approved by the 
        supervising ethics office of the reporting individual.
            ``(C) The trust instrument which establishes the trust 
        provides that--
                    ``(i) except to the extent provided in subparagraph 
                (B) of this paragraph, the trustee in the exercise of 
                his authority and discretion to manage and control the 
                assets of the trust shall not consult or notify any 
                interested party;
                    ``(ii) the trust shall not contain any asset the 
                holding of which by an interested party is prohibited 
                by any law or regulation;
                    ``(iii) the trustee shall promptly notify the 
                reporting individual and his supervising ethics office 
                when the holdings of any particular asset transferred 
                to the trust by any interested party are disposed of or 
                when the value of such holding is less than $1,000;
                    ``(iv) the trust tax return shall be prepared by 
                the trustee or his designee, and such return and any 
                information relating thereto (other than the trust 
                income summarized in appropriate categories necessary 
                to complete an interested party's tax return), shall 
                not be disclosed to any interested party;
                    ``(v) an interested party shall not receive any 
                report on the holdings and sources of income of the 
                trust, except a report at the end of each calendar 
                quarter with respect to the total cash value of the 
                interest of the interested party in the trust or the 
                net income or loss of the trust or any reports 
                necessary to enable the interested party to complete an 
                individual tax return required by law or to provide the 
                information required by subsection (a)(1) of this 
                section, but such report shall not identify any asset 
                or holding;
                    ``(vi) except for communications which solely 
                consist of requests for distributions of cash or other 
                unspecified assets of the trust, there shall be no 
                direct or indirect communication between the trustee 
                and an interested party with respect to the trust 
                unless such communication is in writing and unless it 
                relates only (I) to the general financial interest and 
                needs of the interested party (including, but not 
                limited to, an interest in maximizing income or long-
                term capital gain), (II) to the notification of the 
                trustee of a law or regulation subsequently applicable 
                to the reporting individual which prohibits the 
                interested party from holding an asset, which 
                notification directs that the asset not be held by the 
                trust, or (III) to directions to the trustee to sell 
                all of an asset initially placed in the trust by an 
                interested party which in the determination of the 
                reporting individual creates a conflict of interest or 
                the appearance thereof due to the subsequent assumption 
                of duties by the reporting individual (but nothing 
                herein shall require any such direction); and
                    ``(vii) the interested parties shall make no effort 
                to obtain information with respect to the holdings of 
                the trust, including obtaining a copy of any trust tax 
                return filed or any information relating thereto except 
                as otherwise provided in this subsection.
            ``(D) The proposed trust instrument and the proposed 
        trustee is approved by the reporting individual's supervising 
        ethics office.
            ``(E) For purposes of this subsection, `interested party' 
        means a reporting individual, his spouse, and any minor or 
        dependent child; `broker' has the meaning set forth in section 
        3(a)(4) of the Securities and Exchange Act of 1934 (15 U.S.C. 
        78c(a)(4)); and `investment adviser' includes any investment 
        adviser who, as determined under regulations prescribed by the 
        supervising ethics office, is generally involved in his role as 
such an adviser in the management or control of trusts.
            ``(F) Any trust qualified by a supervising ethics office 
        before January 1, 1991, shall continue to be governed by the 
        law and regulations in effect immediately before such effective 
        date.
    ``(4)(A) An asset placed in a trust by an interested party shall be 
considered a financial interest of the reporting individual, for the 
purposes of any applicable conflict of interest statutes, regulations, 
or rules of the Federal Government (including section 208 of title 18, 
United States Code), until such time as the reporting individual is 
notified by the trustee that such asset has been disposed of, or has a 
value of less than $1,000.
    ``(B)(i) The provisions of subparagraph (A) shall not apply with 
respect to a trust created for the benefit of a reporting individual, 
or the spouse, dependent child, or minor child of such a person, if the 
supervising ethics office for such reporting individual finds that--
            ``(I) the assets placed in the trust consist of a well-
        diversified portfolio of readily marketable securities;
            ``(II) none of the assets consist of securities of entities 
        having substantial activities in the area of the reporting 
        individual's primary area of responsibility;
            ``(III) the trust instrument prohibits the trustee, 
        notwithstanding the provisions of paragraph (3)(C) (iii) and 
        (iv) of this subsection, from making public or informing any 
        interested party of the sale of any securities;
            ``(IV) the trustee is given power of attorney, 
        notwithstanding the provisions of paragraph (3)(C)(v) of this 
        subsection, to prepare on behalf of any interested party the 
        personal income tax returns and similar returns which may 
        contain information relating to the trust; and
            ``(V) except as otherwise provided in this paragraph, the 
        trust instrument provides (or in the case of a trust 
        established prior to January 1, 1991, which by its terms does 
        not permit amendment, the trustee, the reporting individual, 
        and any other interested party agree in writing) that the trust 
        shall be administered in accordance with the requirements of 
        this subsection and the trustee of such trust meets the 
        requirements of paragraph (3)(A).
    ``(ii) In any instance covered by subparagraph (B) in which the 
reporting individual is an individual whose nomination is being 
considered by a congressional committee, the reporting individual shall 
inform the congressional committee considering his nomination before or 
during the period of such individual's confirmation hearing of his 
intention to comply with this paragraph.
    ``(5)(A) The reporting individual shall, within 30 days after a 
qualified blind trust is approved by his supervising ethics office, 
file with such office a copy of--
            ``(i) the executed trust instrument of such trust (other 
        than those provisions which relate to the testamentary 
        disposition of the trust assets), and
            ``(ii) a list of the assets which were transferred to such 
        trust, including the category of value of each asset as 
        determined under subsection (d) of this section.
This subparagraph shall not apply with respect to a trust meeting the 
requirements for being considered a qualified blind trust under 
paragraph (7) of this subsection.
    ``(B) The reporting individual shall, within 30 days of 
transferring an asset (other than cash) to a previously established 
qualified blind trust, notify his supervising ethics office of the 
identity of each such asset and the category of value of each asset as 
determined under subsection (d) of this section.
    ``(C) Within 30 days of the dissolution of a qualified blind trust, 
a reporting individual shall--
            ``(i) notify his supervising ethics office of such 
        dissolution, and
            ``(ii) file with such office a copy of a list of the assets 
        of the trust at the time of such dissolution and the category 
        of value under subsection (d) of this section of each such 
        asset.
    ``(D) Documents filed under subparagraphs (A), (B), and (C) of this 
paragraph and the lists provided by the trustee of assets placed in the 
trust by an interested party which have been sold shall be made 
available to the public in the same manner as a report is made 
available under section 105 and the provisions of that section shall 
apply with respect to such documents and lists.
    ``(E) A copy of each written communication with respect to the 
trust under paragraph (3)(C)(vi) shall be filed by the person 
initiating the communication with the reporting individual's 
supervising ethics office within 5 days of the date of the 
communication.
    ``(6)(A) A trustee of a qualified blind trust shall not knowingly 
and willfully, or negligently, (i) disclose any information to an 
interested party with respect to such trust that may not be disclosed 
under paragraph (3) of this subsection; (ii) acquire any holding the 
ownership of which is prohibited by the trust instrument; (iii) solicit 
advice from any interested party with respect to such trust, which 
solicitation is prohibited by paragraph (3) of this subsection or the 
trust agreement; or (iv) fail to file any document required by this 
subsection.
    ``(B) A reporting individual shall not knowingly and willfully, or 
negligently, (i) solicit or receive any information with respect to a 
qualified blind trust of which he is an interested party that may not 
be disclosed under paragraph (3)(C) of this subsection or (ii) fail to 
file any document required by this subsection.
    ``(C)(i) The Attorney General may bring a civil action in any 
appropriate United States district court against any individual who 
knowingly and willfully violates the provisions of subparagraph (A) or 
(B) of this paragraph. The court in which such action is brought may 
assess against such individual a civil penalty in any amount not to 
exceed $10,000.
    ``(ii) The Attorney General may bring a civil action in any 
appropriate United States district court against any individual who 
negligently violates the provisions of subparagraph (A) or (B) of this 
paragraph. The court in which such action is brought may assess against 
such individual a civil penalty in any amount not to exceed $5,000.
    ``(7) Any trust may be considered to be a qualified blind trust 
if--
            ``(A) the trust instrument is amended to comply with the 
        requirements of paragraph (3) or, in the case of a trust 
        instrument which does not by its terms permit amendment, the 
        trustee, the reporting individual, and any other interested 
        party agree in writing that the trust shall be administered in 
        accordance with the requirements of this subsection and the 
        trustee of such trust meets the requirements of paragraph 
        (3)(A); except that in the case of any interested party who is 
        a dependent child, a parent or guardian of such child may 
        execute the agreement referred to in this subparagraph;
            ``(B) a copy of the trust instrument (except testamentary 
        provisions) and a copy of the agreement referred to in 
        subparagraph (A), and a list of the assets held by the trust at 
        the time of approval by the supervising ethics office, 
        including the category of value of each asset as determined 
        under subsection (d) of this section, are filed with such 
        office and made available to the public as provided under 
        paragraph (5)(D) of this subsection; and
            ``(C) the supervising ethics office determines that 
        approval of the trust arrangement as a qualified blind trust is 
        in the particular case appropriate to assure compliance with 
        applicable laws and regulations.
    ``(8) A reporting individual shall not be required to report the 
financial interests held by a widely held investment fund (whether such 
fund is a mutual fund, regulated investment company, pension or 
deferred compensation plan, or other investment fund), if--
            ``(A)(i) the fund is publicly traded; or
            ``(ii) the assets of the fund are widely diversified; and
            ``(B) the reporting individual neither exercises control 
        over nor has the ability to exercise control over the financial 
        interests held by the fund.
    ``(g) Political campaign funds, including campaign receipts and 
expenditures, need not be included in any report filed pursuant to this 
title.
    ``(h) A report filed pursuant to subsection (a), (d), or (e) of 
section 101 need not contain the information described in subparagraphs 
(A), (B), and (C) of subsection (a)(2) with respect to gifts and 
reimbursements received in a period when the reporting individual was 
not an officer or employee of the Federal Government.
    ``(i) A reporting individual shall not be required under this title 
to report--
            ``(1) financial interests in or income derived from--
                    ``(A) any retirement system under title 5, United 
                States Code (including the Thrift Savings Plan under 
                subchapter III of chapter 84 of such title); or
                    ``(B) any other retirement system maintained by the 
                United States for officers or employees of the United 
                States, including the President, or for members of the 
                uniformed services; or
            ``(2) benefits received under the Social Security Act (42 
        U.S.C. 301 et seq.).

``SEC. 103. FILING OF REPORTS.

    ``(a) Each supervising ethics office shall develop and make 
available forms for reporting the information required by this title.
    ``(b)(1) The reports required under this title shall be filed by a 
reporting individual with--
            ``(A)(i)(I) the Clerk of the House of Representatives, in 
        the case of a Representative in Congress, a Delegate to 
        Congress, the Resident Commissioner from Puerto Rico, an 
        officer or employee of the Congress whose compensation is 
        disbursed by the Chief Administrative Officer of the House of 
        Representatives, an officer or employee of the Architect of the 
        Capitol, the United States Botanic Garden, the Congressional 
        Budget Office, the Government Printing Office, the Library of 
        Congress, or the Copyright Royalty Tribunal (including any 
        individual terminating service, under section 101(e), in any 
        office or position referred to in this subclause), or an 
        individual described in section 101(c) who is a candidate for 
        nomination or election as a Representative in Congress, a 
        Delegate to Congress, or the Resident Commissioner from Puerto 
        Rico; and
            ``(II) the Secretary of the Senate, in the case of a 
        Senator, an officer or employee of the Congress whose 
        compensation is disbursed by the Secretary of the Senate, an 
        officer or employee of the General Accounting Office, 
        <DELETED>the Office of Technology Assessment,</DELETED> or the 
        Office of the Attending Physician (including any individual 
        terminating service, under section 101(e), in any office or 
        position referred to in this subclause), or an individual 
        described in section 101(c) who is a candidate for nomination 
        or election as a Senator; and
            ``(ii) in the case of an officer or employee of the 
        Congress as described under section 101(f)(2) who is employed 
by an agency or commission established in the legislative branch after 
November 30, 1989--
                    ``(I) the Secretary of the Senate or the Clerk of 
                the House of Representatives, as the case may be, as 
                designated in the statute establishing such agency or 
                commission; or
                    ``(II) if such statute does not designate such 
                committee, the Secretary of the Senate for agencies and 
                commissions established in even numbered calendar 
                years, and the Clerk of the House of Representatives 
                for agencies and commissions established in odd 
                numbered calendar years; and
            ``(B) the Judicial Conference with regard to a judicial 
        officer or employee described under paragraphs (3) and (4) of 
        section 101(f) (including individuals terminating service in 
        such office or position under section 101(e) or immediately 
        preceding service in such office or position).
    ``(2) The date any report is received (and the date of receipt of 
any supplemental report) shall be noted on such report by such 
committee.
    ``(c) A copy of each report filed under this title by a Member or 
an individual who is a candidate for the office of Member shall be sent 
by the Clerk of the House of Representatives or Secretary of the 
Senate, as the case may be, to the appropriate State officer designated 
under section 312(a) of the Federal Election Campaign Act of 1971 of 
the State represented by the Member or in which the individual is a 
candidate, as the case may be, within the 30-day period beginning on 
the day the report is filed with the Clerk or Secretary.
    ``(d)(1) A copy of each report filed under this title with the 
Clerk of the House of Representatives shall be sent by the Clerk to the 
Committee on Standards of Official Conduct of the House of 
Representatives within the 7-day period beginning on the day the report 
is filed.
    ``(2) A copy of each report filed under this title with the 
Secretary of the Senate shall be sent by the Secretary to the Select 
Committee on Ethics of the Senate within the 7-day period beginning on 
the day the report is filed.
    ``(e) In carrying out their responsibilities under this title with 
respect to candidates for office, the Clerk of the House of 
Representatives and the Secretary of the Senate shall avail themselves 
of the assistance of the Federal Election Commission. The Commission 
shall make available to the Clerk and the Secretary on a regular basis 
a complete list of names and addresses of all candidates registered 
with the Commission, and shall cooperate and coordinate its candidate 
information and notification program with the Clerk and the Secretary 
to the greatest extent possible.

``SEC. 104. FAILURE TO FILE OR FILING FALSE REPORTS.

    ``(a) The Attorney General may bring a civil action in any 
appropriate United States district court against any individual who 
knowingly and willfully falsifies or who knowingly and willfully fails 
to file or report any information that such individual is required to 
report pursuant to section 102. The court in which such action is 
brought may assess against such individual a civil penalty in any 
amount, not to exceed $10,000.
    ``(b) Each congressional ethics committee or the Judicial 
Conference, as the case may be, shall refer to the Attorney General the 
name of any individual which such official or committee has reasonable 
cause to believe has willfully failed to file a report or has willfully 
falsified or willfully failed to file information required to be 
reported. Whenever the Judicial Conference refers a name to the 
Attorney General under this subsection, the Judicial Conference also 
shall notify the judicial council of the circuit in which the named 
individual serves of the referral.
    ``(c) A congressional ethics committee and the Judicial Conference, 
may take any appropriate personnel or other action in accordance with 
applicable law or regulation against any individual failing to file a 
report or falsifying or failing to report information required to be 
reported.
    ``(d)(1) Any individual who files a report required to be filed 
under this title more than 30 days after the later of--
            ``(A) the date such report is required to be filed pursuant 
        to the provisions of this title and the rules and regulations 
        promulgated thereunder; or
            ``(B) if a filing extension is granted to such individual 
        under section 101(g), the last day of the filing extension 
        period, shall, at the direction of and pursuant to regulations 
        issued by the supervising ethics office, pay a filing fee of 
        $200. All such fees shall be deposited in the miscellaneous 
        receipts of the Treasury.
    ``(2) The supervising ethics office may waive the filing fee under 
this subsection in extraordinary circumstances.

``SEC. 105. CUSTODY OF AND PUBLIC ACCESS TO REPORTS.

    ``(a) The supervising ethics office of the judicial branch, the 
Clerk of the House of Representatives, and the Secretary of the Senate 
shall make available to the public, in accordance with subsection (b), 
each report filed under this title with such office or with the Clerk 
or the Secretary of the Senate.
    ``(b)(1) Except as provided in the second sentence of this 
subsection, the supervising ethics office in the judicial branch, the 
Clerk of the House of Representatives, and the Secretary of the Senate 
shall, within 30 days after any report is received under this title by 
such office or by the Clerk or the Secretary of the Senate, as the case 
may be, permit inspection of such report by or furnish a copy of such 
report to any person requesting such inspection or copy. With respect 
to any report required to be filed by May 15 of any year, such report 
shall be made available for public inspection within 30 calendar days 
after May 15 of such year or within 30 days of the date of filing of 
such a report for which an extension is granted pursuant to section 
101(g). The office, Clerk, or Secretary of the Senate, as the case may 
be, may require a reasonable fee to be paid in any amount which is 
found necessary to recover the cost of reproduction or mailing of such 
report excluding any salary of any employee involved in such 
reproduction or mailing. A copy of such report may be furnished without 
charge or at a reduced charge if it is determined that waiver or 
reduction of the fee is in the public interest.
    ``(2) Notwithstanding paragraph (1), a report may not be made 
available under this section to any person nor may any copy thereof be 
provided under this section to any person except upon a written 
application by such person stating--
            ``(A) that person's name, occupation, and address;
            ``(B) the name and address of any other person or 
        organization on whose behalf the inspection or copy is 
        requested; and
            ``(C) that such person is aware of the prohibitions on the 
        obtaining or use of the report.
Any such application shall be made available to the public throughout 
the period during which the report is made available to the public.
    ``(3)(A) This section does not require the immediate and 
unconditional availability of reports filed by an individual described 
in section 109 (6) or (8) of this Act if a finding is made by the 
Judicial Conference, in consultation with United States Marshal 
Service, that revealing personal and sensitive information could 
endanger that individual.
    ``(B) A report may be redacted pursuant to this paragraph only--
            ``(i) to the extent necessary to protect the individual who 
        filed the report; and
            ``(ii) for as long as the danger to such individual exists.
    ``(C) The Administrative Office of the United States Courts shall 
submit to the Committees on the Judiciary of the House of 
Representatives and of the Senate an annual report with respect to the 
operation of this paragraph including--
            ``(i) the total number of reports redacted pursuant to this 
        paragraph;
            ``(ii) the total number of individuals whose reports have 
        been redacted pursuant to this paragraph; and
            ``(iii) the types of threats against individuals whose 
        reports are redacted, if appropriate.
    ``(D) The Judicial Conference, in consultation with the Department 
of Justice, shall issue regulations setting forth the circumstances 
under which redaction is appropriate under this paragraph and the 
procedures for redaction.
    ``(E) This paragraph shall expire on December 31, <DELETED>2001, 
and apply to filings through calendar year 2001.</DELETED> 2005, and 
apply to filings through calendar year 2005.
    ``(c)(1) It shall be unlawful for any person to obtain or use a 
report--
            ``(A) for any unlawful purpose;
            ``(B) for any commercial purpose, other than by news and 
        communications media for dissemination to the general public;
            ``(C) for determining or establishing the credit rating of 
        any individual; or
            ``(D) for use, directly or indirectly, in the solicitation 
        of money for any political, charitable, or other purpose.
    ``(2) The Attorney General may bring a civil action against any 
person who obtains or uses a report for any purpose prohibited in 
paragraph (1) of this subsection. The court in which such action is 
brought may assess against such person a penalty in any amount not to 
exceed $10,000. Such remedy shall be in addition to any other remedy 
available under statutory or common law.
    ``(d) Any report filed with or transmitted to a supervising ethics 
office or to the Clerk of the House of Representatives or the Secretary 
of the Senate pursuant to this title shall be retained by such office 
or by the Clerk or the Secretary of the Senate, as the case may be. 
Such report shall be made available to the public for a period of 6 
years after receipt of the report. After such 6-year period the report 
shall be destroyed unless needed in an ongoing investigation, except 
that in the case of an individual who filed the report pursuant to 
section 101(b) and was not subsequently confirmed by the Senate, or who 
filed the report pursuant to section 101(c) and was not subsequently 
elected, such reports shall be destroyed 1 year after the individual 
either is no longer under consideration by the Senate or is no longer a 
candidate for nomination or election to the Office of President, Vice 
President, or as a Member of Congress, unless needed in an ongoing 
investigation.

``SEC. 106. REVIEW OF REPORTS.

    ``(a) Each congressional ethics committee and the Judicial 
Conference shall make provisions to ensure that each report filed under 
this title is reviewed within 60 days after the date of such filing.
    ``(b)(1) If after reviewing any report under subsection (a), a 
person designated by the congressional ethics committee or a person 
designated by the Judicial Conference, as the case may be, is of the 
opinion that on the basis of information contained in such report the 
individual submitting such report is in compliance with applicable laws 
and regulations, he shall state such opinion on the report, and shall 
sign such report.
    ``(2) If a person designated by the congressional ethics committee, 
or a person designated by the Judicial Conference, after reviewing any 
report under subsection (a)--
            ``(A) believes additional information is required to be 
        submitted, he shall notify the individual submitting such 
        report what additional information is required and the time by 
        which it must be submitted, or
            ``(B) is of the opinion, on the basis of information 
        submitted, that the individual is not in compliance with 
        applicable laws and regulations, he shall notify the 
        individual, afford a reasonable opportunity for a written or 
        oral response, and after consideration of such response, reach 
        an opinion as to whether or not, on the basis of information 
        submitted, the individual is in compliance with such laws and 
        regulations.
    ``(3) If a person designated by a congressional ethics committee or 
a person designated by the Judicial Conference, reaches an opinion 
under paragraph (2)(B) that an individual is not in compliance with 
applicable laws and regulations, the official or committee shall notify 
the individual of that opinion and, after an opportunity for personal 
consultation (if practicable), determine and notify the individual of 
which steps, if any, would in the opinion of such official or committee 
be appropriate for assuring compliance with such laws and regulations 
and the date by which such steps should be taken. Such steps may 
include, as appropriate--
            ``(A) divestiture,
            ``(B) restitution,
            ``(C) the establishment of a blind trust,
            ``(D) request for an exemption under section 208(b) of 
        title 18, United States Code, or
            ``(E) voluntary request for transfer, reassignment, 
        limitation of duties, or resignation.
The use of any such steps shall be in accordance with such rules or 
regulations as the supervising ethics office may prescribe.
    ``(4) If steps for assuring compliance with applicable laws and 
regulations are not taken by the date set under paragraph (3) by an 
individual in a position appointment to which requires the advice and 
consent of the Senate but removal authority resides in the President, 
the matter shall be referred to the President for appropriate action.
    ``(5) If steps for assuring compliance with applicable laws and 
regulations are not taken by the date set under paragraph (3) by any 
other officer or employee, the matter shall be referred to the 
congressional ethics committee or the Judicial Conference, for 
appropriate action.
    ``(6) Each supervising ethics office may render advisory opinions 
interpreting this title within its respective  jurisdiction. 
Notwithstanding any other provision of law, the individual to whom a 
public advisory opinion is rendered in accordance with this paragraph, 
and any other individual covered by this title who is involved in a 
fact situation which is indistinguishable in all material aspects, and 
who acts in good faith in accordance with the provisions and findings 
of such advisory opinion shall not, as a result of such act, be subject 
to any penalty or sanction provided by this title.

``SEC. 107. CONFIDENTIAL REPORTS AND OTHER ADDITIONAL REQUIREMENTS.

    ``(a)(1) Each supervising ethics office may require officers and 
employees under its jurisdiction (including special Government 
employees as defined in section 202 of title 18, United States Code) to 
file confidential financial disclosure reports, in such form as the 
supervising ethics office may prescribe. The information required to be 
reported under this subsection by the officers and employees of the 
legislative or judicial branch shall be set forth in rules or 
regulations prescribed by the supervising ethics office, and may be 
less extensive than otherwise required by this title, or more extensive 
when determined by the supervising ethics office to be necessary and 
appropriate in light of sections 202 through 209 of title 18, United 
States Code, regulations promulgated thereunder, official codes of 
conduct or the authorized activities of such officers or employees. Any 
individual required to file a report pursuant to section 101 shall not 
be required to file a confidential report pursuant to this subsection, 
except with respect to information which is more extensive than 
information otherwise required by this title. Subsections (a), (b), and 
(d) of section 105 shall not apply with respect to any such report.
    ``(2) Any information required to be provided by an individual 
under this subsection shall be confidential and shall not be disclosed 
to the public.
    ``(3) Nothing in this subsection exempts any individual otherwise 
covered by the requirement to file a public financial disclosure report 
under this title from such requirement.
    ``(b) The provisions of this title requiring the reporting of 
information shall supersede any general requirement under any other 
provision of law or regulation with respect to the reporting of 
information required for purposes of preventing conflicts of interest 
or apparent conflicts of interest. Such provisions of this title shall 
not supersede the requirements of section 7342 of title 5, United 
States Code.
    ``(c) Nothing in this Act requiring reporting of information shall 
be deemed to authorize--
            ``(1) the receipt of income, gifts, or reimbursements;
            ``(2) the holding of assets, liabilities, or positions; or
            ``(3) the participation in transactions that are prohibited 
        by law, rule, or regulation.

``SEC. 108. AUTHORITY OF COMPTROLLER GENERAL.

    ``(a) The Comptroller General shall have access to financial 
disclosure reports filed under this title for the purposes of carrying 
out his statutory responsibilities.
    ``(b) Not later than December 31, 1992, and regularly thereafter, 
the Comptroller General shall conduct a study to determine whether the 
provisions of this title are being carried out effectively.

``SEC. 109. DEFINITIONS.

    ``For the purposes of this title, the term--
            ``(1) `congressional ethics committees' means the Select 
        Committee on Ethics of the Senate and the Committee on 
        Standards of Official Conduct of the House of Representatives;
            ``(2) `dependent child' means, when used with respect to 
        any reporting individual, any individual who is a son, 
        daughter, stepson, or stepdaughter and who--
                    ``(A) is unmarried and under age 21 and is living 
                in the household of such reporting individual; or
                    ``(B) is a dependent of such reporting individual 
                within the meaning of section 152 of the Internal 
                Revenue Code of 1986 (26 U.S.C. 152);
            ``(3) `gift' means a payment, advance, forbearance, 
        rendering, or deposit of money, or any thing of value, unless 
        consideration of equal or greater value is received by the 
        donor, but does not include--
                    ``(A) bequest and other forms of inheritance;
                    ``(B) suitable mementos of a function honoring the 
                reporting individual;
                    ``(C) food, lodging, transportation, and 
                entertainment provided by a foreign government within a 
                foreign country or by the United States Government, the 
                District of Columbia, or a State or local government or 
                political subdivision thereof;
                    ``(D) food and beverages which are not consumed in 
                connection with a gift of overnight lodging;
                    ``(E) communications to the offices of a reporting 
                individual, including subscriptions to newspapers and 
                periodicals; or
                    ``(F) consumable products provided by home-State 
                businesses to the offices of a reporting individual who 
                is an elected official, if those products are intended 
                for consumption by persons other than such reporting 
                individual;
            ``(4) `honoraria' has the meaning given such term in 
        section 505 of this Act;
            ``(5) `income' means all income from whatever source 
        derived, including but not limited to the following items: 
        compensation for services, including fees, commissions, and 
        similar items; gross income derived from business (and net 
        income if the individual elects to include it); gains derived 
        from dealings in property; interest; rents; royalties; 
        dividends; annuities; income from life insurance and endowment 
        contracts; pensions; income from discharge of indebtedness; 
        distributive share of partnership income; and income from an 
        interest in an estate or trust;
            ``(6) `judicial employee' means any employee of the 
        judicial branch of the Government, of the United States 
        Sentencing Commission, of the Tax Court, of the Court of 
Federal Claims, of the Court of Appeals for Veterans Claims, or of the 
United States Court of Appeals for the Armed Forces, who is not a 
judicial officer and who is authorized to perform adjudicatory 
functions with respect to proceedings in the judicial branch, or who 
occupies a position for which the rate of basic pay is equal to or 
greater than 120 percent of the minimum rate of basic pay payable for 
GS-15 of the General Schedule;
            ``(7) `Judicial Conference' means the Judicial Conference 
        of the United States;
            ``(8) `judicial officer' means the Chief Justice of the 
        United States, the Associate Justices of the Supreme Court, and 
        the judges of the United States courts of appeals, United 
        States district courts, including the district courts in Guam, 
        the Northern Mariana Islands, and the Virgin Islands, Court of 
        Appeals for the Federal Circuit, Court of International Trade, 
        Tax Court, Court of Federal Claims, Court of Appeals for 
        Veterans Claims, United States Court of Appeals for the Armed 
        Forces, and any court created by Act of Congress, the judges of 
        which are entitled to hold office during good behavior;
            ``(9) `legislative branch' includes--
                    ``(A) the Architect of the Capitol;
                    ``(B) the Botanic Gardens;
                    ``(C) the Congressional Budget Office;
                    ``(D) the General Accounting Office;
                    ``(E) the Government Printing Office;
                    ``(F) the Library of Congress;
                    ``(G) the United States Capitol Police;
                    ``(H) the Office of <DELETED>Technology Assessment</DELETED> 
                Compliance; and
                    ``(I) any other agency, entity, office, or 
                commission established in the legislative branch;
            ``(10) `Member of Congress' means a United States Senator, 
        a Representative in Congress, a Delegate to Congress, or the 
        Resident Commissioner from Puerto Rico;
            ``(11) `officer or employee of the Congress' means--
                    ``(A) any individual described under subparagraph 
                (B), other than a Member of Congress or the Vice 
                President, whose compensation is disbursed by the 
                Secretary of the Senate or the Chief Administrative 
                Officer of the House of Representatives;
                    ``(B)(i) each officer or employee of the 
                legislative branch who, for at least 60 days, occupies 
                a position for which the rate of basic pay is equal to 
                or greater than 120 percent of the minimum rate of 
                basic pay payable for GS-15 of the General Schedule; 
                and
                    ``(ii) at least 1 principal assistant designated 
                for purposes of this paragraph by each Member who does 
                not have an employee who occupies a position for which 
                the rate of basic pay is equal to or greater than 120 
                percent of the minimum rate of basic pay payable for 
                GS-15 of the General Schedule;
            ``(12) `personal hospitality of any individual' means 
        hospitality extended for a nonbusiness purpose by an 
        individual, not a corporation or organization, at the personal 
        residence of that individual or his family or on property or 
        facilities owned by that individual or his family;
            ``(13) `reimbursement' means any payment or other thing of 
        value received by the reporting individual, other than gifts, 
        to cover travel-related expenses of such individual other than 
        those which are--
                    ``(A) provided by the United States Government, the 
                District of Columbia, or a State or local government or 
                political subdivision thereof;
                    ``(B) required to be reported by the reporting 
                individual under section 7342 of title 5, United States 
                Code; or
                    ``(C) required to be reported under section 304 of 
                the Federal Election Campaign Act of 1971 (2 U.S.C. 
                434);
            ``(14) `relative' means an individual who is related to the 
        reporting individual, as father, mother, son, daughter, 
        brother, sister, uncle, aunt, great aunt, great uncle, first 
        cousin, nephew, niece, husband, wife, grandfather, grandmother, 
        grandson, granddaughter, father-in-law, mother-in-law, son-in-
        law, daughter-in-law, brother-in-law, sister-in-law, 
        stepfather, stepmother, stepson, stepdaughter, stepbrother, 
        stepsister, half brother, half sister, or who is the 
        grandfather or grandmother of the spouse of the reporting 
        individual, and shall be deemed to include the fiance or 
        fiancee of the reporting individual;
            ``(15) `supervising ethics office' means--
                    ``(A) the Select Committee on Ethics of the Senate, 
                for Senators, officers and employees of the Senate, and 
                other officers, or employees of the legislative branch 
                required to file financial disclosure reports with the 
                Secretary of the Senate pursuant to section 103(h) of 
                this title;
                    ``(B) the Committee on Standards of Official 
                Conduct of the House of Representatives, for Members, 
                officers, and employees of the House of Representatives 
                and other officers or employees of the legislative 
                branch required to file financial disclosure reports 
                with the Clerk of the House of Representatives pursuant 
                to section 103(h) of this title; and
                    ``(C) the Judicial Conference for judicial officers 
                and judicial employees; and
            ``(16) `value' means a good faith estimate of the dollar 
        value if the exact value is neither known nor easily obtainable 
        by the reporting individual.

``SEC. 110. NOTICE OF ACTIONS TAKEN TO COMPLY WITH ETHICS AGREEMENTS.

    ``(a) In any case in which an individual agrees with a Senate 
confirmation committee, a congressional ethics committee, or the 
Judicial Conference, to take any action to comply with this Act or any 
other law or regulation governing conflicts of interest of, or 
establishing standards of conduct applicable with respect to, officers 
or employees of the Government, that individual shall notify in writing 
the appropriate committee of the Senate, the congressional ethics 
committee, or the Judicial Conference, as the case may be, of any 
action taken by the individual pursuant to that agreement. Such 
notification shall be made not later than the date specified in the 
agreement by which action by the individual must be taken, or not later 
than 3 months after the date of the agreement, if no date for action is 
so specified.
    ``(b) If an agreement described in subsection (a) requires that the 
individual recuse himself or herself from particular categories of 
agency or other official action, the individual shall reduce to writing 
those subjects regarding which the recusal agreement will apply and the 
process by which it will be determined whether the individual must 
recuse himself or herself in a specific instance. An individual shall 
be considered to have complied with the requirements of subsection (a) 
with respect to such recusal agreement if such individual files a copy 
of the document setting forth the information described in the 
preceding sentence with <DELETED>such individual's designated agency 
ethics official or</DELETED> the appropriate supervising ethics office 
within the time prescribed in the last sentence of subsection (a).

``SEC. 111. ADMINISTRATION OF PROVISIONS.

    ``The provisions of this title shall be administered by--
            ``(1) the Select Committee on Ethics of the Senate and the 
        Committee on Standards of Official Conduct of the House of 
        Representatives, as appropriate, with regard to officers and 
        employees described in paragraphs (1) and (2) of section 
        101(f); and
            ``(2) the Judicial Conference in the case of an officer or 
        employee described in paragraphs (3) and (4) of section 101(f). 
        The Judicial Conference may delegate any authority it has under 
        this title to an ethics committee established by the Judicial 
        Conference.''.

SEC. 4. PUBLIC FINANCIAL DISCLOSURE FOR THE EXECUTIVE BRANCH.

    The Ethics in Government Act of 1978 (5 U.S.C. App.) is amended by 
inserting after title I the following:

   ``TITLE II--EXECUTIVE PERSONNEL FINANCIAL DISCLOSURE REQUIREMENTS

``SEC. 201. PERSONS REQUIRED TO FILE.

    ``(a) Within 30 days of assuming the position of an officer or 
employee described in subsection (f), an individual shall file a report 
containing the information described in section 202(b) unless the 
individual has left another position described in subsection (f) of 
this section or section 101(f) of this Act within 30 days prior to 
assuming such new position or has already filed a report under this 
title with respect to nomination for the new position or as a candidate 
for the position.
    ``(b)(1) Within 5 days of the transmittal by the President to the 
Senate of the nomination of an individual (other than an individual 
nominated for appointment to a position as a Foreign Service Officer or 
a grade or rank in the uniformed services for which the pay grade 
prescribed by section 201 of title 37, United States Code, is O-6 or 
below) to a position in the executive branch, appointment to which 
requires the advice and consent of the Senate, such individual shall 
file a report containing the information described in section 202(b). 
Such individual shall, not later than the date of the first hearing to 
consider the nomination of such individual, make current the report 
filed pursuant to this paragraph by filing the information required by 
section 202(a)(1)(A) with respect to income and honoraria received as 
of the date which occurs 5 days before the date of such hearing. 
Nothing in this Act shall prevent any congressional committee from 
requesting, as a condition of confirmation, any additional financial 
information from any Presidential nominee whose nomination has been 
referred to that committee.
    ``(2) An individual whom the President or the President-elect has 
publicly announced he intends to nominate to a position may file the 
report required by paragraph (1) at any time after that public 
announcement, but not later than is required under the first sentence 
of such paragraph.
    ``(c)(1) Within 30 days of becoming a candidate as defined in 
section 301 of the Federal Campaign Act of 1971, in a calendar year for 
nomination or election to the office of President or Vice President or 
on or before May 15 of that calendar year, whichever is later, but in 
no event later than 30 days before the election, and on or before May 
15 of each successive year an individual continues to be a candidate, 
an individual other than an incumbent President or Vice President shall 
file a report containing the information described in section 202(b). 
Notwithstanding the preceding sentence, in any calendar year in which 
an individual continues to be a candidate for any office but all 
elections for such office relating to such candidacy were held in prior 
calendar years, such individual need not file a report unless he 
becomes a candidate for another vacancy in that office or another 
office during that year.
    ``(2) Notwithstanding paragraph (1), within 30 days of taking the 
oath of office of President or Vice President, an individual shall file 
a report containing the information described in section 202(b) unless 
such individual served as President or Vice President immediately prior 
to taking that oath.
    ``(d) Any individual who is an officer or employee described in 
subsection (f) during any calendar year and performs the duties of his 
position or office for a period in excess of 60 days in that calendar 
year shall file on or before May 15 of the succeeding year a report 
containing the information described in section 202(a).
    ``(e) Any individual who occupies a position described in 
subsection (f) shall, on or before the thirtieth day after termination 
of employment in such position, file a report containing the 
information described in section 202(a) covering the preceding calendar 
year if the report required by subsection (d) has not been filed and 
covering the portion of the calendar year in which such termination 
occurs up to the date the individual left such office or position, 
unless such individual has accepted employment in or takes the oath of 
office for another position described in subsection (f) or section 
101(f).
    ``(f) The officers and employees referred to in subsections (a), 
(d), and (e) are--
            ``(1) the President;
            ``(2) the Vice President;
            ``(3) each officer or employee in the executive branch, 
        including a special Government employee as defined in section 
        202 of title 18, United States Code, who occupies a position 
        classified above GS-15 of the General Schedule or, in the case 
        of positions not under the General Schedule, for which the rate 
        of basic pay is equal to or greater than 120 percent of the 
        minimum rate of basic pay payable for GS-15 of the General 
        Schedule; each member of a uniformed service whose pay grade is 
        at or in excess of O-7 under section 201 of title 37, United 
        States Code; and each officer or employee in any other position 
        determined by the Director of the Office of Government Ethics 
        to be of equal classification;
            ``(4) each employee appointed pursuant to section 3105 of 
        title 5, United States Code;
            ``(5) any employee not described in paragraph (3) who is in 
        a position in the executive branch which is excepted from the 
        competitive service by reason of being of a confidential or 
        policymaking character, except that the Director of the Office 
        of Government Ethics may, by regulation, exclude from the 
        application of this paragraph any individual, or group of 
        individuals, who are in such positions, but only in cases in 
        which the Director determines such exclusion would not affect 
        adversely the integrity of the Government or the public's 
        confidence in the integrity of the Government;
            ``(6) the Postmaster General, the Deputy Postmaster 
        General, each Governor of the Board of Governors of the United 
        States Postal Service, each officer or employee of the United 
        States Postal Service who is designated as a member of the 
        Postal Career Executive Service (PCES I or II), and each 
        officer or employee of the Postal Rate Commission who occupies 
        a position for which the rate of basic pay is equal to or 
        greater than 120 percent of the minimum rate of basic pay 
        payable for GS-15 of the General Schedule;
            ``(7) the Director of the Office of Government Ethics and 
        each designated agency ethics official; and
            ``(8) any civilian employee not described in paragraph (3), 
        employed in the Executive Office of the President (other than a 
        special Government employee) who holds a commission of 
        appointment from the President.
    ``(g)(1) Reasonable extensions of time for filing any report may be 
granted under procedures prescribed by the Office of Government Ethics, 
but the total of such extensions shall not exceed 90 days.
    ``(2)(A) In the case of an individual who is serving in the Armed 
Forces, or serving in support of the Armed Forces, in an area while 
that area is designated by the President by Executive order as a combat 
zone for purposes of section 112 of the Internal Revenue Code of 1986, 
the date for the filing of any report shall be extended so that the 
date is 180 days after the later of--
            ``(i) the last day of the individual's service in such area 
        during such designated period; or
            ``(ii) the last day of the individual's hospitalization as 
        a result of injury received or disease contracted while serving 
        in such area.
    ``(B) The Office of Government Ethics, in consultation with the 
Secretary of Defense, may prescribe procedures under this paragraph.
    ``(h) The provisions of subsections (a), (b), and (e) shall not 
apply to an individual who, as determined by the designated agency 
ethics official or Secretary concerned (or in the case of a 
Presidential appointee under subsection (b), the Director of the Office 
of Government Ethics), is not reasonably expected to perform the duties 
of his office or position for more than 60 days in a calendar year, 
except that if such individual performs the duties of his office or 
position for more than 60 days in a calendar year--
            ``(1) the report required by subsections (a) and (b) shall 
        be filed within 15 days of the sixtieth day, and
            ``(2) the report required by subsection (e) shall be filed 
        as provided in such subsection.
    ``(i) The Director of the Office of Government Ethics may grant a 
publicly available request for a waiver of any reporting requirement 
under this section for an individual who is expected to perform or has 
performed the duties of his office or position less than 130 days in a 
calendar year, but only if the Director determines that--
            ``(1) such individual is not a full-time employee of the 
        Government,
            ``(2) such individual is able to provide services specially 
        needed by the Government,
            ``(3) it is unlikely that the individual's outside 
        employment or financial interests will create a conflict of 
        interest, and
            ``(4) public financial disclosure by such individual is not 
        necessary in the circumstances.

``SEC. 202. CONTENTS OF REPORTS.

    ``(a) Each report filed pursuant to section 201 (d) and (e) shall 
include a full and complete statement with respect to the following:
            ``(1)(A) The source, description, and category of value of 
        income (other than income referred to in subparagraph (B)) from 
        any source (other than from current employment by the United 
        States Government), received during the preceding calendar 
        year, aggregating more than $500 in value, except that 
        honoraria received during Government service by an officer or 
        employee shall include, in addition to the source, the exact 
        amount and the date it was received.
            ``(B) The source and description of investment income which 
        may include but is not limited to dividends, rents, interest, 
        and capital gains, received during the preceding calendar year 
        which exceeds $500 in amount or value.
            ``(C) The categories for reporting the amount for income 
        covered in subparagraphs (A) and (B) of this paragraph are--
                    ``(i) greater than $500 but not more than $20,000;
                    ``(ii) greater than $20,000 but not more than 
                $100,000;
                    ``(iii) greater than $100,000 but not more than 
                $1,000,000;
                    ``(iv) greater than $1,000,000 but not more than 
                $2,500,000; and
                    ``(v) greater than $2,500,000.
            ``(2)(A) The identity of the source, a brief description, 
        and the value of all gifts aggregating more than the minimal 
        value as established by section 7342(a)(5) of title 5, United 
        States Code, or $250, whichever is greater, received from any 
        source other than a relative of the reporting individual during 
        the preceding calendar year, except that any food, lodging, or 
        entertainment received as personal hospitality of an individual 
        need not be reported, and any gift with a fair market value of 
        $100 or less, as adjusted at the same time and by the same 
        percentage as the minimal value is adjusted, need not be 
        aggregated for purposes of this subparagraph.
            ``(B) The identity of the source and a brief description 
        (including dates of travel and nature of expenses provided) of 
        reimbursements received from any source aggregating more than 
        the minimal value as established by section 7342(a)(5) of title 
        5, United States Code, or $250, whichever is greater and 
        received during the preceding calendar year.
            ``(C) In an unusual case, a gift need not be aggregated 
        under subparagraph (A) if a publicly available request for a 
        waiver is granted.
            ``(3) The identity and category of value of any interest in 
        property held during the preceding calendar year in a trade or 
        business, or for investment or the production of income, which 
        has a fair market value which exceeds $5,000 as of the close of 
        the preceding calendar year, excluding any personal liability 
        owed to the reporting individual by a spouse, or by a parent, 
        brother, sister, or child of the reporting individual or of the 
        reporting individual's spouse, or any deposit accounts 
        aggregating $100,000 or less in a financial institution, or any 
        Federal Government securities aggregating $100,000 or less.
            ``(4) The identity and category of value of the total 
        liabilities owed to any creditor other than a spouse, or a 
        parent, brother, sister, or child of the reporting individual 
        or of the reporting individual's spouse which exceed $20,000 at 
        any time during the preceding calendar year, excluding--
                    ``(A) any mortgage secured by real property which 
                is a personal residence of the reporting individual or 
                his spouse; and
                    ``(B) any loan secured by a personal motor vehicle, 
                household furniture, or appliances, which loan does not 
                exceed the purchase price of the item which secures it.
        With respect to revolving charge accounts, only those with an 
        outstanding liability which exceeds $20,000 as of the close of 
        the preceding calendar year need be reported under this 
        paragraph. Notwithstanding the preceding sentence, individuals 
        required to file pursuant to section 201(b), shall also report 
        the aggregate sum of the outstanding balances of all revolving 
        charge accounts as of any date that is within 30 days of the 
        date of filing if the aggregate sum of those balances exceeds 
        $20,000.
            ``(5) Except as provided in this paragraph, a brief 
        description of any real property, other than property used 
        solely as a personal residence of the reporting individual or 
        his spouse, or stocks, bonds, commodities futures, and other 
        forms of securities, if--
                    ``(A) purchased, sold, or exchanged during the 
                preceding calendar year;
                    ``(B) the value of the transaction exceeded $5,000; 
                and
                    ``(C) the property or security is not already 
                required to be reported as a source of income pursuant 
                to paragraph (1)(B) or as an asset pursuant to 
                paragraph (3) of this section.
            ``(6)(A) The identity of all positions held on or before 
        the date of filing during the current calendar year (and, for 
        the first report filed by an individual, during the 1-year 
        period preceding such calendar year) as an officer, director, 
        trustee, partner, proprietor, representative, employee, or 
        consultant of any corporation, company, firm, partnership, or 
        other business enterprise, any nonprofit organization, any 
        labor organization, or any educational or other institution 
        other than the United States. This subparagraph shall not 
        require the reporting of positions held in any religious, 
        social, fraternal, or political entity and positions solely of 
        an honorary nature.
            ``(B) If any person, other than a person reported as a 
        source of income under paragraph (1)(A) or the United States 
        Government, paid a nonelected reporting individual compensation 
        in excess of $25,000 in the calendar year prior to or the 
        calendar year in which the individual files his first report 
        under this title, the individual shall include in the report--
                    ``(i) the identity of each source of such 
                compensation; and
                    ``(ii) a brief description of the nature of the 
                duties performed or services rendered by the reporting 
                individual for each such source.
        The preceding sentence shall not require any individual to 
        include in such report any information which is considered 
        confidential as a result of a privileged relationship, 
        established by law, between such individual and any person or 
        any information which the person for whom the services are 
        provided has a reasonable expectation of privacy, nor shall it 
        require an individual to report any information with respect to 
        any person for whom services were provided by any firm or 
        association of which such individual was a member, partner, or 
        employee unless such individual was directly involved in the 
        provision of such services.
            ``(7) A description of parties to and terms of any 
        agreement or arrangement with respect to (A) future employment; 
        (B) a leave of absence during the period of the reporting 
        individual's Government service; (C) continuation of payments 
        by a former employer other than the United States Government; 
        and (D) continuing participation in an employee welfare or 
        benefit plan maintained by a former employer. The description 
        of any formal agreement for future employment shall include the 
        date on which that agreement was entered into.
            ``(8) The category of the total cash value of any interest 
        of the reporting individual in a qualified blind trust.
    ``(b)(1) Each report filed pursuant to subsections (a), (b), and 
(c) of section 201 shall include a full and complete statement with 
respect to the information required by--
            ``(A) paragraphs (1) and (6) of subsection (a) for the year 
        of filing and the preceding calendar year,
            ``(B) paragraphs (3) and (4) of subsection (a) as of the 
        date specified in the report but which is less than 31 days 
        before the filing date, and
            ``(C) paragraph (7) of subsection (a) as of the filing date 
        but for periods described in such paragraph.
            ``(2)(A) In lieu of filling out 1 or more schedules of a 
        financial disclosure form, an individual may supply the 
        required information in an alternative format, pursuant to 
        either rules adopted by the Office of Government Ethics or 
        pursuant to a specific written determination by the Director 
for a reporting individual.
            ``(B) In lieu of indicating the category of amount or value 
        of any item contained in any report filed under this title, a 
        reporting individual may indicate the exact dollar amount of 
        such item.
    ``(c)(1) In the case of any individual referred to in section 
201(d), the Office of Government Ethics may by regulation require a 
reporting period to include any period in which the individual served 
as an officer or employee described in section 201(f) and the period 
would not otherwise be covered by any public report filed pursuant to 
this title.
    ``(2) In the case of any individual referred to in section 201(e), 
any reference to the preceding calendar year shall be considered also 
to include that part of the calendar year of filing up to the date of 
the termination of employment.
    ``(d)(1) The categories for reporting the amount or value of the 
items covered in paragraph (3) of subsection (a) are--
            ``(A) greater than $5,000 but not more than $15,000;
            ``(B) greater than $15,000 but not more than $100,000;
            ``(C) greater than $100,000 but not more than $1,000,000;
            ``(D) greater than $1,000,000 but not more than $2,500,000; 
        and
            ``(E) greater than $2,500,000.
    ``(2) For the purposes of paragraph (3) of subsection (a) if the 
current value of an interest in real property (or an interest in a real 
estate partnership) is not ascertainable without an appraisal, an 
individual may list (A) the date of purchase and the purchase price of 
the interest in the real property, or (B) the assessed value of the 
real property for tax purposes, adjusted to reflect the market value of 
the property used for the assessment if the assessed value is computed 
at less than 100 percent of such market value, but such individual 
shall include in his report a full and complete description of the 
method used to determine such assessed value, instead of specifying a 
category of value pursuant to paragraph (1) of this subsection. If the 
current value of any other item required to be reported under paragraph 
(3) of subsection (a) is not ascertainable without an appraisal, such 
individual may list the book value of a corporation whose stock is not 
publicly traded, the net worth of a business partnership, the equity 
value of an individually owned business, or with respect to other 
holdings, any recognized indication of value, but such individual shall 
include in his report a full and complete description of the method 
used in determining such value. In lieu of any value referred to in the 
preceding sentence, an individual may list the assessed value of the 
item for tax purposes, adjusted to reflect the market value of the item 
used for the assessment if the assessed value is computed at less than 
100 percent of such market value, but a full and complete description 
of the method used in determining such assessed value shall be included 
in the report.
    ``(3) The categories for reporting the amount or value of the items 
covered in paragraphs (4) and (8) of subsection (a) are--
            ``(A) greater than $20,000 but not more than $100,000;
            ``(B) greater than $100,000 but not more than $500,000;
            ``(C) greater than $500,000 but not more than $1,000,000; 
        and
            ``(D) greater than $1,000,000.
    ``(e)(1) Except as provided in the last sentence of this paragraph, 
each report required by section 201 shall also contain information 
listed in paragraphs (1) through (5) of subsection (a) of this section 
respecting the spouse or dependent child of the reporting individual as 
follows:
            ``(A) The sources of earned income earned by a spouse 
        including honoraria which exceed $500 except that, with respect 
        to earned income if the spouse is self-employed in business or 
        a profession, only the nature of such business or profession 
        need be reported.
            ``(B) All information required to be reported in subsection 
        (a)(1)(B) with respect to investment income derived by a spouse 
        or dependent child.
            ``(C) In the case of any gifts received by a spouse or 
        dependent child which are not received totally independent of 
        the relationship of the spouse or dependent child to the 
        reporting individual, the identity of the source and a brief 
        description of gifts of transportation, lodging, food, or 
        entertainment and a brief description and the value of other 
        gifts.
            ``(D) In the case of any reimbursements received by a 
        spouse or dependent child which are not received totally 
        independent of the relationship of the spouse or dependent 
        child to the reporting individual, the identity of the source 
        and a brief description of each such reimbursement.
            ``(E) In the case of items described in paragraphs (3) 
        through (5) of subsection (a), all information required to be 
        reported under these paragraphs other than items which the 
        reporting individual certifies (i) represent the spouse's or 
        dependent child's sole financial interest or responsibility and 
        which the reporting individual has no knowledge of, (ii) are 
        not in any way, past or present, derived from the income, 
        assets, or activities of the reporting individual, and (iii) 
        that he neither derives, nor expects to derive, any financial 
        or economic benefit.
            ``(F) Reports required by subsections (a), (b), and (c) of 
        section 201 shall, with respect to the spouse and dependent 
        child of the reporting individual, only contain information 
        listed in paragraphs (1), (3), and (4) of subsection (a), as 
        specified in this paragraph.
    ``(2) No report shall be required with respect to a spouse living 
separate and apart from the reporting individual with the intention of 
terminating the marriage or providing for permanent separation; or with 
respect to any income or obligations of an individual arising from the 
dissolution of his marriage or the permanent separation from his 
spouse.
    ``(f)(1) Except as provided in paragraph (2), each reporting 
individual shall report the information required to be reported 
pursuant to subsections (a), (b), and (c) of this section with respect 
to the holdings of and the income from a trust or other financial 
arrangement from which income is received by, or with respect to which 
a beneficial interest in principal or income is held by, such 
individual, his spouse, or any dependent child.
    ``(2) A reporting individual need not report the holdings of or the 
source of income from any of the holdings of--
            ``(A) any qualified blind trust (as defined in paragraph 
        (3));
            ``(B) a trust--
                    ``(i) which was not created directly by such 
                individual, his spouse, or any dependent child, and
                    ``(ii) the holdings or sources of income of which 
                such individual, his spouse, and any dependent child 
                have no knowledge of; or
            ``(C) an entity described under the provisions of paragraph 
        (8), but such individual shall report the category of the 
        amount of income received by him, his spouse, or any dependent 
        child from the entity under subsection (a)(1)(B) of this 
        section.
    ``(3) For purposes of this subsection, the term `qualified blind 
trust' includes any trust in which a reporting individual, his spouse, 
or any minor or dependent child has a beneficial interest in the 
principal or income, and which meets the following requirements:
            ``(A)(i) The trustee of the trust and any other entity 
        designated in the trust instrument to perform fiduciary duties 
        is a financial institution, an attorney, a certified public 
        accountant, a broker, or an investment advisor who--
                    ``(I) is independent of and not associated with any 
                interested party so that the trustee or other person 
                cannot be controlled or influenced in the 
                administration of the trust by any interested party;
                    ``(II) is not and has not been an employee of or 
                affiliated with any interested party and is not a 
                partner of, or involved in any joint venture or other 
                investment with, any interested party; and
                    ``(III) is not a relative of any interested party.
            ``(ii) Any officer or employee of a trustee or other entity 
        who is involved in the management or control of the trust--
                    ``(I) is independent of and not associated with any 
                interested party so that such officer or employee 
                cannot be controlled or influenced in  the 
administration of the trust by any interested party;
                    ``(II) is not a partner of, or involved in any 
                joint venture or other investment with, any interested 
                party; and
                    ``(III) is not a relative of any interested party.
            ``(B) Any asset transferred to the trust by an interested 
        party is free of any restriction with respect to its transfer 
        or sale unless such restriction is expressly approved by the 
        Office of Government Ethics.
            ``(C) The trust instrument which establishes the trust 
        provides that--
                    ``(i) except to the extent provided in subparagraph 
                (B) of this paragraph, the trustee in the exercise of 
                his authority and discretion to manage and control the 
                assets of the trust shall not consult or notify any 
                interested party;
                    ``(ii) the trust shall not contain any asset the 
                holding of which by an interested party is prohibited 
                by any law or regulation;
                    ``(iii) the trustee shall promptly notify the 
                reporting individual and the Office of Government 
                Ethics when the holdings of any particular asset 
                transferred to the trust by any interested party are 
                disposed of or when the value of such holding is less 
                than $1,000;
                    ``(iv) the trust tax return shall be prepared by 
                the trustee or his designee, and such return and any 
                information relating thereto (other than the trust 
                income summarized in appropriate categories necessary 
                to complete an interested party's tax return), shall 
                not be disclosed to any interested party;
                    ``(v) an interested party shall not receive any 
                report on the holdings and sources of income of the 
                trust, except a report at the end of each calendar 
                quarter with respect to the total cash value of the 
                interest of the interested party in the trust or the 
                net income or loss of the trust or any reports 
                necessary to enable the interested party to complete an 
                individual tax return required by law or to provide the 
                information required by subsection (a)(1) of this 
                section, but such report shall not identify any asset 
                or holding;
                    ``(vi) except for communications which solely 
                consist of requests for distributions of cash or other 
                unspecified assets of the trust, there shall be no 
                direct or indirect communication between the trustee 
                and an interested party with respect to the trust 
                unless such communication is in writing and unless it 
                relates only (I) to the general financial interest and 
                needs of the interested party (including, but not 
                limited to, an interest in maximizing income or long-
                term capital gain), (II) to the notification of the 
                trustee of a law or regulation subsequently applicable 
                to the reporting individual which prohibits the 
                interested party from holding an asset, which 
                notification directs that the asset not be held by the 
                trust, or (III) to directions to the trustee to sell 
                all of an asset initially placed in the trust by an 
                interested party which in the determination of the 
                reporting individual creates a conflict of interest or 
                the appearance thereof due to the subsequent assumption 
                of duties by the reporting individual (but nothing 
                herein shall require any such direction); and
                    ``(vii) the interested parties shall make no effort 
                to obtain information with respect to the holdings of 
                the trust, including obtaining a copy of any trust tax 
                return filed or any information relating thereto except 
as otherwise provided in this subsection.
            ``(D) The proposed trust instrument and the proposed 
        trustee is approved by the Office of Government Ethics.
            ``(E) For purposes of this subsection, `interested party' 
        means a reporting individual, his spouse, and any minor or 
        dependent child; `broker' has the meaning set forth in section 
        3(a)(4) of the Securities and Exchange Act of 1934 (15 U.S.C. 
        78c(a)(4)); and `investment adviser' includes any investment 
        adviser who, as determined under regulations prescribed by the 
        supervising ethics office, is generally involved in his role as 
        such an adviser in the management or control of trusts.
    ``(4)(A) An asset placed in a trust by an interested party shall be 
considered a financial interest of the reporting individual, for the 
purposes of any applicable conflict of interest statutes, regulations, 
or rules of the Federal Government (including section 208 of title 18, 
United States Code), until such time as the reporting individual is 
notified by the trustee that such asset has been disposed of, or has a 
value of less than $1,000.
    ``(B)(i) The provisions of subparagraph (A) shall not apply with 
respect to a trust created for the benefit of a reporting individual, 
or the spouse, dependent child, or minor child of such a person, if the 
Office of Government Ethics finds that--
            ``(I) the assets placed in the trust consist of a well-
        diversified portfolio of readily marketable securities;
            ``(II) none of the assets consist of securities of entities 
        having substantial activities in the area of the reporting 
        individual's primary area of responsibility;
            ``(III) the trust instrument prohibits the trustee, 
        notwithstanding the provisions of paragraph (3)(C) (iii) and 
        (iv) of this subsection, from making public or informing any 
        interested party of the sale of any securities;
            ``(IV) the trustee is given power of attorney, 
        notwithstanding the provisions of paragraph (3)(C)(v) of this 
        subsection, to prepare on behalf of any interested party the 
        personal income tax returns and similar returns which may 
        contain information relating to the trust; and
            ``(V) except as otherwise provided in this paragraph, the 
        trust instrument provides (or in the case of a trust which by 
        its terms does not permit amendment, the trustee, the reporting 
        individual, and any  other interested party agree in writing) 
that the trust shall be administered in accordance with the 
requirements of this subsection and the trustee of such trust meets the 
requirements of paragraph (3)(A).
    ``(ii) In any instance covered by subparagraph (B) in which the 
reporting individual is an individual whose nomination is being 
considered by a congressional committee, the reporting individual shall 
inform the congressional committee considering his nomination before or 
during the period of such individual's confirmation hearing of his 
intention to comply with this paragraph.
    ``(5)(A) The reporting individual shall, within 30 days after a 
qualified blind trust is approved by the Office of Government Ethics, 
file with such office a copy of--
            ``(i) the executed trust instrument of such trust (other 
        than those provisions which relate to the testamentary 
        disposition of the trust assets), and
            ``(ii) a list of the assets which were transferred to such 
        trust, including the category of value of each asset as 
        determined under subsection (d) of this section.
This subparagraph shall not apply with respect to a trust meeting the 
requirements for being considered a qualified blind trust under 
paragraph (7) of this subsection.
    ``(B) The reporting individual shall, within 30 days of 
transferring an asset (other than cash) to a previously established 
qualified blind trust, notify the Office of Government Ethics of the 
identity of each such asset and the category of value of each asset as 
determined under subsection (d) of this section.
    ``(C) Within 30 days of the dissolution of a qualified blind trust, 
a reporting individual shall notify the Office of Government Ethics of 
such dissolution.
    ``(D) Documents filed under subparagraphs (A), (B), and (C) of this 
paragraph and the lists provided by the trustee of assets placed in the 
trust by an interested party which have been sold shall be made 
available to the public in the same manner as a report is made 
available under section 205 and the provisions of that section shall 
apply with respect to such documents and lists.
    ``(E) A copy of each written communication with respect to the 
trust under paragraph (3)(C)(vi) shall be filed by the person 
initiating the communication with the Office of Government Ethics 
within 5 days of the date of the communication.
    ``(6)(A) A trustee of a qualified blind trust shall not knowingly 
and willfully, or negligently, (i) disclose any information to an 
interested party with respect to such trust that may not be disclosed 
under paragraph (3) of this subsection; (ii) acquire any holding the 
ownership of which is prohibited by the trust instrument; (iii) solicit 
advice from any interested party with respect to such trust, which 
solicitation is prohibited by paragraph (3) of this subsection or the 
trust agreement; or (iv) fail to file any document required by this 
subsection.
    ``(B) A reporting individual shall not knowingly and willfully, or 
negligently, (i) solicit or receive any information with respect to a 
qualified blind trust of which he is an interested party that may not 
be disclosed under paragraph (3)(C) of this subsection or (ii) fail to 
file any document required by this subsection.
    ``(C)(i) The Attorney General may bring a civil action in any 
appropriate United States district court against any individual who 
knowingly and willfully violates the provisions of subparagraph (A) or 
(B) of this paragraph. The court in which such action is brought may 
assess against such individual a civil penalty in any amount not to 
exceed $10,000.
    ``(ii) The Attorney General may bring a civil action in any 
appropriate United States district court against any individual who 
negligently violates the provisions of subparagraph (A) or (B) of this 
paragraph. The court in which such action is brought may assess against 
such individual a civil penalty in any amount not to exceed $5,000.
    ``(7) Any trust may be considered to be a qualified blind trust 
if--
            ``(A) the trust instrument is amended to comply with the 
        requirements of paragraph (3) or, in the case of a trust 
        instrument which does not by its terms permit amendment, the 
        trustee, the reporting individual, and any other interested 
        party agree in writing that the trust shall be administered in 
        accordance with the requirements of this subsection and the 
        trustee of such trust meets the requirements of paragraph 
        (3)(A); except that in the case of any interested party who is 
        a dependent child, a parent or guardian of such child may 
        execute the agreement referred to in this subparagraph;
            ``(B) a copy of the trust instrument (except testamentary 
        provisions) and a copy of the agreement referred to in 
        subparagraph (A), and a list of the assets held by the trust at 
        the time of approval by the Office of Government Ethics, 
        including the category of value of each asset as determined 
        under subsection (d) of this section, are filed with such 
        office and made available to the public as provided under 
        paragraph (5)(D) of this subsection; and
            ``(C) the Director of the Office of Government Ethics 
        determines that approval of the trust arrangement as a 
        qualified blind trust is in the particular case appropriate to 
        assure compliance with applicable laws and regulations.
    ``(8) A reporting individual shall not be required to report the 
financial interests held by a widely held investment fund (whether such 
fund is a mutual fund, regulated investment company, pension or 
deferred compensation plan, or other investment fund), if--
            ``(A)(i) the fund is publicly traded; or
            ``(ii) the assets of the fund are widely diversified; and
            ``(B) the reporting individual neither exercises control 
        over nor has the ability to exercise control over the financial 
        interests held by the fund.
    ``(9)(A)(i) A reporting individual described in subsection (a) or 
(b) of section 201 shall not be required to report the holdings or 
sources of income of any trust or investment fund where--
            ``(I) reporting would result in the disclosure of assets or 
        sources of income of another person whose interests are not 
        required to be reported by the reporting individual under this 
        title;
            ``(II) the disclosure of such assets and sources of income 
        is prohibited by contract or the assets and  sources of income 
are not otherwise publicly available; and
            ``(III) the reporting individual has executed a written 
        ethics agreement which contains a general description of the 
        trust or investment fund and a commitment to divest the 
        interest in the trust or investment fund not later than 90 days 
        after the date of the agreement.
    ``(ii) An agreement described under clause (i)(III) shall be 
attached to the public financial disclosure which would otherwise 
include a listing of the holdings or sources of income from this trust 
or investment fund.
    ``(B)(i) The provisions of subparagraph (A) shall apply to an 
individual described in subsection (d) or (e) of section 201 if--
            ``(I) the interest in the trust or investment fund is 
        acquired involuntarily during the period to be covered by the 
        report, such as through marriage or inheritance, and
            ``(II) for an individual described in subsection (d), the 
        individual executes a written ethics agreement containing a 
        commitment to divest the interest no later than 90 days after 
        the date on which the report is due.
    ``(ii) An agreement described under clause (i)(II) shall be 
attached to the public financial disclosure which would otherwise 
include a listing of the holdings or sources of income from this trust 
or investment fund.
    ``(iii) Failure to divest within the time specified or after an 
extension granted by the Director of the Office of Government Ethics 
for good cause shown shall result in an immediate requirement to report 
as specified in paragraph (1) of this subsection.
    ``(g) Political campaign funds, including campaign receipts and 
expenditures, need not be included in any report filed pursuant to this 
title.
    ``(h) A report filed pursuant to subsection (a), (d), or (e) of 
section 201 need not contain the information described in subparagraphs 
(A), (B), and (C) of subsection (a)(2) with respect to gifts and 
reimbursements received in a period when the reporting individual was 
not an officer or employee of the Federal Government.
    ``(i) A reporting individual shall not be required under this title 
to report--
            ``(1) financial interests in or income derived from--
                    ``(A) any retirement system under title 5, United 
                States Code (including the Thrift Savings Plan under 
                subchapter III of chapter 84 of such title); or
                    ``(B) any other retirement system maintained by the 
                United States for officers or employees of the United 
                States, including the President, or for members of the 
                uniformed services; or
            ``(2) benefits received under the Social Security Act (42 
        U.S.C. 301 et seq.).
    ``(j)(1) Every month each designated agency ethics officer shall 
submit to the Office of Government Ethics notification of any waiver of 
criminal conflict of interest laws granted to any individual in the 
preceding month with respect to a filing under this title that is not 
confidential.
    ``(2) Every month the Office of Government Ethics shall make 
publicly available on the Internet--
            ``(A) all notifications of waivers submitted under 
        paragraph (1) in the preceding month; and
            ``(B) notification of all waivers granted by the Office of 
        Government Ethics in the preceding month.
    ``(k) A full copy of any waiver of criminal conflict of interest 
laws granted shall be included with any filing required under this 
title with respect to the year in which the waiver is granted.
    ``(l) The Office of Government Ethics shall provide upon request 
any waiver on file for which notice has been published.

``SEC. 203. FILING OF REPORTS.

    ``(a) Except as otherwise provided in this section, the reports 
required under this title shall be filed by the reporting individual 
with the designated agency ethics official at the agency by which he is 
employed (or in the case of an individual described in section 201(e), 
was employed) or in which he will serve. The date any report is 
received (and the date of receipt of any supplemental report) shall be 
noted on such report by such official.
    ``(b) The President and the Vice President shall file reports 
required under this title with the Director of the Office of Government 
Ethics.
    ``(c) Copies of the reports required to be filed under this title 
by the Postmaster General, the Deputy Postmaster General, the Governors 
of the Board of Governors of the United States Postal Service, 
designated agency ethics officials, employees described in section 
105(a)(2) (A) or (B), 106(a)(1) (A) or (B), or 107 (a)(1)(A) or 
(b)(1)(A)(i), of title 3, United States Code, candidates for the office 
of President or Vice President and officers and employees in (and 
nominees to) offices or positions within the executive branch which 
require confirmation by the Senate shall be transmitted to the Director 
of the Office of Government Ethics. The Director shall forward a copy 
of the report of each nominee to the congressional committee 
considering the nomination.
    ``(d) Reports required to be filed under this title by the Director 
of the Office of Government Ethics shall be filed in the Office of 
Government Ethics and, immediately after being filed, shall be made 
available to the public in accordance with this title.
    ``(e) Each individual identified in section 201(c) who is a 
candidate for nomination or election to the Office of President or Vice 
President shall file the reports required by this title with the 
Federal Election Commission.
    ``(f) Reports required of members of the uniformed services shall 
be filed with the Secretary concerned.
    ``(g) The Office of Government Ethics shall develop and make 
available forms for reporting the information required by this title.

``SEC. 204. FAILURE TO FILE OR FILING FALSE REPORTS.

    ``(a) The Attorney General may bring a civil action in any 
appropriate United States district court against any individual who 
knowingly and willfully falsifies or who knowingly and willfully fails 
to file or report any information that such individual is required to 
report pursuant to section 202. The court in which such action is 
brought may assess against such individual a civil penalty in any 
amount, not to exceed $10,000.
    ``(b) The head of each agency, each Secretary concerned, or the 
Director of the Office of Government Ethics, as the case may be, shall 
refer to the Attorney General the name of any individual which such 
official has reasonable cause to believe has willfully failed to file a 
report or has willfully falsified or willfully failed to file 
information required to be reported.
    ``(c) The President, the Vice President, the Secretary concerned, 
or the head of each agency may take any appropriate personnel or other 
action in accordance with applicable law or regulation against any 
individual failing to file a report or falsifying or failing to report 
information required to be reported.
    ``(d)(1) Any individual who files a report required to be filed 
under this title more than 30 days after the later of--
            ``(A) the date such report is required to be filed pursuant 
        to the provisions of this title and the rules and regulations 
        promulgated thereunder; or
            ``(B) if a filing extension is granted to such individual 
        under section 201(g), the last day of the filing extension 
        period,
shall, at the direction of and pursuant to regulations issued by the 
Office of Government Ethics, pay a filing fee of $500. All such fees 
shall be deposited in the miscellaneous receipts of the Treasury. The 
authority under this paragraph to direct the payment of a filing fee 
may be delegated by the Office of Government Ethics to other agencies 
in the executive branch.
    ``(2) The Office of Government Ethics may waive the filing fee 
under this subsection for good cause shown.

``SEC. 205. CUSTODY OF AND PUBLIC ACCESS TO REPORTS.

    ``(a) Each agency and the Office of Government Ethics shall make 
available to the public, in accordance with subsection (b), each report 
filed under this title with such agency or Office except that this 
section does not require public availability of a report filed by any 
individual in the Central Intelligence Agency, the Defense Intelligence 
Agency, the National Imagery and Mapping Agency, or the National 
Security Agency, or any individual engaged in intelligence activities 
in any agency of the United States, if the President finds or has found 
that, due to the nature of the office or position occupied by such 
individual, public disclosure of such report would, by revealing the 
identity of the individual or other sensitive information, compromise 
the national interest of the United States; and such individuals may be 
authorized, notwithstanding section 204(a), to file such additional 
reports as are necessary to protect their identity from public 
disclosure if the President first finds or has found that such filing 
is necessary in the national interest.
    ``(b)(1) Except as provided in the second sentence of this 
subsection, each agency and the Office of Government Ethics shall, 
within 30 days after any report is received under this title by such 
agency or Office, as the case may be, permit inspection of such report 
by or furnish a copy of such report to any person requesting such 
inspection or copy. With respect to any report required to be filed by 
May 15 of any year, such report shall be made available for public 
inspection within 30 calendar days after May 15 of such year or within 
30 days of the date of filing of such a report for which an extension 
is granted pursuant to section 201(g). The agency or the Office of 
Government Ethics may require a reasonable fee to be paid in any amount 
which is found necessary to recover the cost of reproduction or mailing 
of such report excluding any salary of any employee involved in such 
reproduction or mailing. A copy of such report may be furnished 
without charge or at a reduced charge if it is determined that waiver 
or reduction of the fee is in the public interest.
    ``(2) Notwithstanding paragraph (1), a report may not be made 
available under this section to any person nor may any copy thereof be 
provided under this section to any person except upon a written 
application by such person stating--
            ``(A) that person's name, occupation, and address;
            ``(B) the name and address of any other person or 
        organization on whose behalf the inspection or copy is 
        requested; and
            ``(C) that such person is aware of the prohibitions on the 
        obtaining or use of the report.
Any such application shall be made available to the public throughout 
the period during which the report is made available to the public.
    ``(c)(1) It shall be unlawful for any person to obtain or use a 
report--
            ``(A) for any unlawful purpose;
            ``(B) for any commercial purpose, other than by news and 
        communications media for dissemination to the general public;
            ``(C) for determining or establishing the credit rating of 
        any individual; or
            ``(D) for use, directly or indirectly, in the solicitation 
        of money for any political, charitable, or other purpose.
    ``(2) The Attorney General may bring a civil action against any 
person who obtains or uses a report for any purpose prohibited in 
paragraph (1) of this subsection. The court in which such action is 
brought may assess against such person a penalty in any amount not to 
exceed $10,000. Such remedy shall be in addition to any other remedy 
available under statutory or common law.
    ``(d) Any report filed with or transmitted to an agency or the 
Office of Government Ethics pursuant to this title shall be retained by 
such agency or Office, as the case may be. Such report shall be made 
available to the public for a period of 6 years after receipt of the 
report. After such 6-year period the report shall be destroyed unless 
needed in an ongoing investigation, except that in the case of an 
individual who filed the report pursuant to section 201(b) and was not 
subsequently confirmed by the Senate, or who filed the report pursuant 
to section 201(c) and was not subsequently elected, such reports shall 
be destroyed 1 year after the individual either is no longer under 
consideration by the Senate or is no longer a candidate for nomination 
or election to the Office of President or Vice President unless needed 
in an ongoing investigation.

``SEC. 206. REVIEW OF REPORTS.

    ``(a) Each designated agency ethics official or Secretary concerned 
shall make provisions to ensure that each report filed with him under 
this title is reviewed within 60 days after the date of such filing, 
except that the Director of the Office of Government Ethics shall 
review only those reports required to be transmitted to him under this 
title within 60 days after the date of transmittal.
    ``(b)(1) If after reviewing any report under subsection (a), the 
Director of the Office of Government Ethics, the Secretary concerned, 
or the designated agency ethics official, as the case may be, is of the 
opinion that on the basis of information contained in such report the 
individual submitting such report is in compliance with applicable laws 
and regulations, he shall state such opinion on the report, and shall 
sign such report.
    ``(2) If the Director of the Office of Government Ethics, the 
Secretary concerned, or the designated agency ethics official after 
reviewing any report under subsection (a)--
            ``(A) believes additional information is required to be 
        submitted to complete the form or to perform a conflict of 
        interest analysis, he shall notify the individual submitting 
        such report what additional information is required and the 
        time by which it must be submitted, or
            ``(B) is of the opinion, on the basis of information 
        submitted, that the individual is not in compliance with 
        applicable laws and regulations, he shall notify the 
        individual, afford a reasonable opportunity for a written or 
        oral response, and after consideration of such response, reach 
        an opinion as to whether or not, on the basis of information 
        submitted, the individual is in compliance with such laws and 
        regulations.
    ``(3) If the Director of the Office of Government Ethics, the 
Secretary concerned, or the designated agency ethics official reaches 
an opinion under paragraph (2)(B) that an individual is not in 
compliance with applicable laws and regulations, the official shall 
notify the individual of that opinion and, after an opportunity for 
personal consultation (if practicable), determine and notify the 
individual of which steps, if any, would in the opinion of such 
official be appropriate for assuring compliance with such laws and 
regulations and the date by which such steps should be taken. Such 
steps may include, as appropriate--
            ``(A) divestiture,
            ``(B) restitution,
            ``(C) the establishment of a blind trust,
            ``(D) request for an exemption under section 208(b) of 
        title 18, United States Code, or
            ``(E) voluntary request for transfer, reassignment, 
        limitation of duties, or resignation.
The use of any such steps shall be in accordance with such rules or 
regulations as the Office of Government Ethics may prescribe.
    ``(4) If steps for assuring compliance with applicable laws and 
regulations are not taken by the date set under paragraph (3) by an 
individual in a position in the executive branch (other than in the 
Foreign Service or the uniformed services), appointment to which 
requires the advice and consent of the Senate, the matter shall be 
referred to the President for appropriate action.
    ``(5) If steps for assuring compliance with applicable laws and 
regulations are not taken by the date set under paragraph (3) by a 
member of the Foreign Service or the uniformed services, the Secretary 
concerned shall take appropriate action.
    ``(6) If steps for assuring compliance with applicable laws and 
regulations are not taken by the date set under paragraph (3) by any 
other officer or employee, the matter shall be referred to the head of 
the appropriate agency for appropriate action; except that in the case 
of the Postmaster General or Deputy Postmaster General, the Director of 
the Office of Government Ethics shall recommend to the Governors of the 
Board of Governors of the United States Postal Service the action to be 
taken.
    ``(7) The Office of Government Ethics may render advisory opinions 
interpreting this title. Notwithstanding any other provision of law, 
the individual to whom a public advisory opinion is rendered in 
accordance with this paragraph, and any other individual covered by 
this title who is involved in a fact situation which is 
indistinguishable in all material aspects, and who acts in good faith 
in accordance with the provisions and findings of such advisory opinion 
shall not, as a result of such act, be subject to any penalty or 
sanction provided by this title.

``SEC. 207. CONFIDENTIAL REPORTS AND OTHER ADDITIONAL REQUIREMENTS.

    ``(a)(1) The Office of Government Ethics may require officers and 
employees of the executive branch (including special Government 
employees as defined in section 202 of title 18, United States Code) to 
file confidential financial disclosure reports, in such form as it may 
prescribe. The information required to be reported under this 
subsection by the officers and employees of any department or agency 
shall be set forth in rules or regulations prescribed by the Office of 
Government Ethics, and may be less extensive than otherwise required by 
this title, or more extensive when determined by the Office of 
Government Ethics to be necessary and appropriate in light of sections 
202 through 209 of title 18, United States Code, regulations 
promulgated thereunder, or the authorized activities of such officers 
or employees. Any individual required to file a report pursuant to 
section 201 shall not be required to file a confidential report 
pursuant to this subsection, except with respect to information which 
is more extensive than information otherwise required by this title. 
Subsections (a), (b), and (d) of section 205 shall not apply with 
respect to any such report.
    ``(2) Any information required to be provided by an individual 
under this subsection shall be confidential and shall not be disclosed 
to the public.
    ``(3) Nothing in this subsection exempts any individual otherwise 
covered by the requirement to file a public financial disclosure report 
under this title from such requirement.
    ``(b) The provisions of this title requiring the reporting of 
information shall supersede any general requirement under any other 
provision of law or regulation with respect to the reporting of 
information required for purposes of preventing conflicts of interest 
or apparent conflicts of interest. Such provisions of this title shall 
not supersede the requirements of section 7342 of title 5, United 
States Code.
    ``(c) Nothing in this Act requiring reporting of information shall 
be deemed to authorize the receipt of income, gifts, or reimbursements; 
the holding of assets, liabilities, or positions; or the participation 
in transactions that are prohibited by law, Executive order, rule, or 
regulation.

``SEC. 208. AUTHORITY OF COMPTROLLER GENERAL.

    ``The Comptroller General shall have access to financial disclosure 
reports filed under this title for the purposes of carrying out his 
statutory responsibilities.

``SEC. 209. DEFINITIONS.

    ``For the purposes of this title, the term--
            ``(1) `dependent child' means, when used with respect to 
        any reporting individual, any individual who is a son, 
        daughter, stepson, or stepdaughter and who--
                    ``(A) is unmarried and under age 21 and is living 
                in the household of such reporting individual; or
                    ``(B) is a dependent of such reporting individual 
                within the meaning of section 152 of the Internal 
                Revenue Code of 1986 (26 U.S.C. 152);
            ``(2) `designated agency ethics official' means an officer 
        or employee who is designated to administer the provisions of 
        this title within an agency;
            ``(3) `executive branch' includes each Executive agency (as 
        defined in section 105 of title 5, United States Code), other 
        than the General Accounting Office, and any other entity or 
        administrative unit in the executive branch;
            ``(4) `gift' means a payment, advance, forbearance, 
        rendering, or deposit of money, or any thing of value, unless 
        consideration of equal or greater value is received by the 
        donor, but does not include--
                    ``(A) bequest and other forms of inheritance;
                    ``(B) suitable mementos of a function honoring the 
                reporting individual;
                    ``(C) food, lodging, transportation, and 
                entertainment provided by a foreign government within a 
                foreign country or by the United States Government, the 
                District of Columbia, or a State or local government or 
                political subdivision thereof;
                    ``(D) food and beverages which are not consumed in 
                connection with a gift of overnight lodging;
                    ``(E) communications to the offices of a reporting 
                individual, including subscriptions to newspapers and 
                periodicals; or
                    ``(F) items that are accepted pursuant to or are 
                required to be reported by the reporting individual 
                under section 7342 of title 5, United States Code.
            ``(5) `honoraria' means a payment of money or anything of 
        value for an appearance, speech, or article;
            ``(6) `income' means all income from whatever source 
        derived, including but not limited to the following items: 
        compensation for services, including fees, commissions, and 
        similar items; gross income derived from business (and net 
        income if the individual elects to include it); gains derived 
        from dealings in property; interest; rents; royalties; prizes 
        and awards; dividends; annuities; income from life insurance 
        and endowment contracts; pensions; income from discharge of 
        indebtedness; distributive share of partnership income; and 
        income from an interest in an estate or trust;
            ``(7) `personal hospitality of any individual' means 
        hospitality extended for a nonbusiness purpose by an 
        individual, not a corporation or organization, at the personal 
        residence of that individual or his family or on property or 
        facilities owned by that individual or his family;
            ``(8) `reimbursement' means any payment or other thing of 
        value received by the reporting individual, other than gifts, 
        to cover travel-related expenses of such individual other than 
        those which are--
                    ``(A) provided by the United States Government, the 
                District of Columbia, or a State or local government or 
                political subdivision thereof;
                    ``(B) required to be reported by the reporting 
                individual under section 7342 of title 5, United States 
                Code; or
                    ``(C) required to be reported under section 304 of 
                the Federal Election Campaign Act of 1971 (2 U.S.C. 
                434);
            ``(9) `relative' means an individual who is related to the 
        reporting individual, as father, mother, son, daughter, 
        brother, sister, uncle, aunt, great aunt, great uncle, first 
        cousin, nephew, niece, husband, wife, grandfather, grandmother, 
        grandson, granddaughter, father-in-law, mother-in-law, son-in-
        law, daughter-in-law, brother-in-law, sister-in-law, 
        stepfather, stepmother, stepson, stepdaughter, stepbrother, 
        stepsister, half brother, half sister, or who is the 
        grandfather or grandmother of the spouse of the reporting 
        individual, and shall be deemed to include the fiance or 
        fiancee of the reporting individual;
            ``(10) `Secretary concerned' has the meaning set forth in 
        section 101(a)(9) of title 10, United States Code, and, in 
        addition, means--
                    ``(A) the Secretary of Commerce, with respect to 
                matters concerning the National Oceanic and Atmospheric 
                Administration;
                    ``(B) the Secretary of Health and Human Services, 
                with respect to matters concerning the Public Health 
                Service; and
                    ``(C) the Secretary of State, with respect to 
                matters concerning the Foreign Service; and
            ``(11) `value' means a good faith estimate of the dollar 
        value if the exact value is neither known nor easily obtainable 
        by the reporting individual.

``SEC. 210. NOTICE OF ACTIONS TAKEN TO COMPLY WITH ETHICS AGREEMENTS.

    ``(a) In any case in which an individual agrees with that 
individual's designated agency ethics official, the Office of 
Government Ethics, or a Senate confirmation committee, to take any 
action to comply with this Act or any other law or regulation governing 
conflicts of interest of, or establishing standards of conduct 
applicable with respect to, officers or employees of the Government, 
that individual shall notify in writing the designated agency ethics 
official, the Office of Government Ethics, or the appropriate committee 
of the Senate, as the case may be, of any action taken by the 
individual pursuant to that agreement. Such notification shall be made 
not later than the date specified in the agreement by which action by 
the individual must be taken, or not later than 3 months after the date 
of the agreement, if no date for action is so specified. If all actions 
agreed to have not been completed by the date of this notification, 
such notification shall continue on a monthly basis thereafter until 
the individual has met the terms of the agreement.
    ``(b) If an agreement described in subsection (a) requires that the 
individual recuse himself or herself from particular categories of 
agency or other official action, the individual shall reduce to writing 
those subjects regarding which the recusal agreement will apply and the 
process by which it will be determined whether the individual must 
recuse himself or herself in a specific instance. An individual shall 
be considered to have complied with the requirements of subsection (a) 
with respect to such recusal agreement if such individual files a copy 
of the document setting forth the information described in the 
preceding sentence with such individual's designated agency ethics 
official or the Office of Government Ethics within the time prescribed 
in the penultimate sentence of subsection (a).

``SEC. 211. ADMINISTRATION OF PROVISIONS.

    ``The Office of Government Ethics shall issue regulations, develop 
forms, and provide such guidance as is necessary to implement and 
interpret this title.''.

SEC. 5. TRANSMITTAL OF RECORD RELATING TO PRESIDENTIALLY APPOINTED 
              POSITIONS TO PRESIDENTIAL CANDIDATES.

    (a) Definition.--In this section, the term ``major party'' has the 
meaning given that term under section 9002(6) of the Internal Revenue 
Code of 1986.
    (b) Transmittal.--
            (1) In general.--Not later than 15 days after the date on 
        which a major party nominates a candidate for President, the 
        Executive Clerk of the White House shall transmit an electronic 
        record to that candidate on Presidentially appointed positions.
            (2) Other candidates.--After making transmittals under 
        paragraph (1), the Executive Clerk of the White House may 
        transmit an electronic record on Presidentially appointed 
        positions to any other candidate for President.
    (c) Content.--The record transmitted under this section shall 
provide--
            (1) all positions which are appointed by the President, 
        including the title and description of the duties of each 
        position;
            (2) the name of each person holding a position described 
        under paragraph (1);
            (3) any vacancy in the positions described under paragraph 
        (1), and the period of time any such position has been vacant;
            (4) the date on which an appointment made after the 
        applicable Presidential election for any position described 
        under paragraph (1) is necessary to ensure effective operation 
        of the Government; and
            (5) any other information that the Executive Clerk 
        determines is useful in making appointments.

SEC. 6. REDUCTION OF POSITIONS REQUIRING APPOINTMENT WITH SENATE 
              CONFIRMATION.

    (a) Definition.--In this section, the term ``agency'' means an 
Executive agency as defined under section 105 of title 5, United States 
Code.
    (b) Reduction Plan.--
            (1) In general.--Not later than 180 days after the date of 
        enactment of this Act, the head of each agency shall submit a 
        Presidential appointment reduction plan to--
                    (A) the President;
                    (B) the Committee on Governmental Affairs of the 
                Senate; and
                    (C) the Committee on Government Reform of the House 
                of Representatives.
            (2) Content.--The plan under this subsection shall provide 
        for the reduction of--
                    (A) the number of positions within that agency that 
                require an appointment by the President, by and with 
                the advice and consent of the Senate; and
                    (B) the number of levels of such positions within 
                that agency.

SEC. 7. ATTORNEY GENERAL REVIEW OF CONFLICT OF INTEREST LAW.

    (a) In General.--Not later than 180 days after the date of 
enactment of this Act, the Director of the Office of Government Ethics, 
in consultation with the Attorney General of the United States, shall 
conduct a comprehensive review of conflict of interest laws relating to 
Federal employment and submit a report to--
            (1) the President;
            (2) the Committee on Governmental Affairs of the Senate;
            (3) the Committee on the Judiciary of the Senate;
            (4) the Committee on Government Reform of the House of 
        Representatives; and
            (5) the Committee on the Judiciary of the House of 
        Representatives.
    (b) Content.--The report under this section shall--
            (1) examine all--
                    (A) Federal criminal conflict of interest laws 
                relating to Federal employment, including the relevant 
                provisions of chapter 11 of title 18, United States 
                Code; and
                    (B) related civil conflict of interest laws, 
                including regulations promulgated under section 402 of 
                the Ethics in Government Act of 1978 (5 U.S.C. App.); 
                and
            (2) make recommendations on legislation to provide for--
                    (A) better coordination of such laws; and
                    (B) more uniformity, efficiency, and clarity in the 
                application and administration of such laws.

SEC. 8. EFFECTIVE DATE.

    (a) Amendments to Ethics in Government Act of 1978.--
            (1) In general.--Subject to subsection (b), the amendments 
        made by sections 3 and 4 shall take effect on January 1 of the 
        year following the date of enactment of this Act.
            (2) Later date.--If the date of enactment of this Act is on 
        or after July 1 of any calendar year, the amendments made by 
        sections 3 and 4 shall take effect on July 1 in the year 
        following the date of enactment of this Act.
    (b) Other Provisions.--Sections 1, 2, 5, 6, and 7 shall take effect 
on the date of enactment of this Act.




                                                       Calendar No. 378

107th CONGRESS

  2d Session

                                S. 1811

                          [Report No. 107-152]

_______________________________________________________________________

                                 A BILL

   To amend the Ethics in Government Act of 1978 (5 U.S.C. App.) to 
   streamline the financial disclosure process for executive branch 
                               employees.

_______________________________________________________________________



                 May 16 (legislative day, May 9), 2002

                        Reported with amendments