[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 2253 Introduced in Senate (IS)]

112th CONGRESS
  2d Session
                                S. 2253

 To require individuals who file under the Ethics in Government Act of 
1978 to disclose any financial accounts that are or have been deposited 
                   in a country that is a tax haven.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 29, 2012

Mr. Durbin (for himself and Mr. Franken) introduced the following bill; 
which was read twice and referred to the Committee on Homeland Security 
                        and Governmental Affairs

_______________________________________________________________________

                                 A BILL


 
 To require individuals who file under the Ethics in Government Act of 
1978 to disclose any financial accounts that are or have been deposited 
                   in a country that is a tax haven.

    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 ``Financial Disclosure to Reduce Tax 
Haven Abuse Act of 2012''.

SEC. 2. DISCLOSURE OF ACCOUNTS HELD IN TAX HAVENS.

    Section 102(b)(1) of the Ethics in Government Act of 1978 (5 U.S.C. 
App.) is amended--
            (1) in subparagraph (A), by inserting ``, with a specific 
        accounting of any financial interest held by the covered 
        individual or their spouse in a country that is considered as a 
        tax haven as listed by the Secretary of the Treasury and made 
        available to the filer'' after ``calendar year''; and
            (2) inserting at the end the following:
        ``In compiling the list of tax havens under subparagraph (A), 
        the Secretary of the Treasury should consider for inclusion 
        those jurisdictions which have been previously and publicly 
        identified by the Internal Revenue Service as secrecy 
        jurisdictions in Federal court proceedings.''.
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