I 112th CONGRESS 2d Session H. R. 4232 IN THE HOUSE OF REPRESENTATIVES March 21, 2012 Mr. Turner of Ohio (for himself, Mr. Ryan of Ohio, and Mr. Burton of Indiana) introduced the following bill; which was referred to the Committee on Oversight and Government Reform A BILL To amend section 552 of title 5, United States Code (popularly referred to as the Freedom of Information Act), to provide that the exemptions to that section shall not apply to matters relating to certain transactions executed by an instrumentality of the Federal Government operating in a commercial manner.

1.

Short title

This Act may be cited as the Restoring Essential Safeguards for a Transparent, Open, and Reliable Executive under FOIA Act.

2.

Exclusion of certain matters from coverage under Freedom of Information Act exemptions

Section 552 of title 5, United States Code, is amended— (1)in subsection (b), by striking This section and inserting Subject to subsection (m), this section; and (2)by adding at the end the following new subsection: (m)

Special rule relating to Federal instrumentalities operating in commercial manner

(1)Notwithstanding subsection (b), in the case of any instrumentality described in paragraph (2), this section shall apply to matters that are exempt under subsection (b) if the matters are related to a transaction described in paragraph (2). (2)An instrumentality described in this paragraph is any instrumentality of the Federal Government (or its employees or agents) executing authority of the Federal Government in any transaction— (A)which results in the United States owning, subscribing to, or otherwise having any interest in the stock or equity of any company, association, or corporation, except for any investments through any pension funds; or (B)in which the instrumentality or its employees or agents execute authority of the Federal Government’s interests in owning, subscribing to, or otherwise having any interest in the stock or equity of any company, association, or corporation. .