[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 1026 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                S. 1026

  To amend the Federal Funding Accountability and Transparency Act of 
2006 to require full disclosure for entities receiving Federal funding.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 3, 2017

Mr. Casey (for himself, Mr. Wyden, Mr. Whitehouse, Mrs. Gillibrand, Mr. 
  Udall, Mr. Heinrich, Mr. Carper, and Mr. Blumenthal) introduced the 
 following bill; which was read twice and referred to the Committee on 
               Homeland Security and Governmental Affairs

_______________________________________________________________________

                                 A BILL


 
  To amend the Federal Funding Accountability and Transparency Act of 
2006 to require full disclosure for entities receiving Federal funding.

    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 ``Know Conflicts Act of 2017''.

SEC. 2. FULL DISCLOSURE OF ENTITIES RECEIVING FEDERAL FUNDING.

    Section 2 of the Federal Funding Accountability and Transparency 
Act of 2006 (31 U.S.C. 6101 note) is amended--
            (1) in subsection (a)--
                    (A) by redesignating--
                            (i) paragraphs (6) through (8) as 
                        paragraphs (9) through (11), respectively; and
                            (ii) paragraphs (1) through (4) as 
                        paragraphs (3) through (7), respectively;
                    (B) by inserting before paragraph (2), as 
                redesignated, the following:
            ``(1) Active financial conflict of interest.--The term 
        `active financial conflict of interest' means any potential 
        source of conflict that constitutes a financial interest in or 
        liability owed to an entity reported as receiving a Federal 
        award under this Act.
            ``(2) Covered person.--The term `covered person' means the 
        President, Vice President, the spouse of the President, the 
        spouse of the Vice President, a dependent child of the 
        President, or a dependent child of the Vice President.''; and
                    (C) by inserting after paragraph (7), as 
                redesignated the following:
            ``(8) Potential source of conflict.--The term `potential 
        source of conflict' means any financial interest or liability 
        held by a covered person that--
                    ``(A)(i) is not a financial interest described in 
                section 102(f)(8) of the Ethics in Government Act of 
                1978 (5 U.S.C. App.); and
                    ``(ii) is included in a covered person's financial 
                disclosure report required to be filed under section 
                101 of the Ethics in Government Act of 1978 (5 U.S.C. 
                App.); or
                    ``(iii) is otherwise identified by the Director of 
                the Office of Government Ethics as a potential source 
                of conflict.''; and
            (2) in subsection (b)(1)--
                    (A) in subparagraph (F)(ii), by striking the period 
                at the end and inserting a semicolon;
                    (B) by redesignating subparagraph (G) as 
                subparagraph (H); and
                    (C) by inserting after subparagraph (F) the 
                following:
                    ``(G) information indicating whether a Federal 
                award has resulted in the existence of one or more 
                active financial conflicts of interest; and''.

SEC. 3. REPORT.

    Not later than November 30 of each year, the Bureau of the Fiscal 
Service of the Department of the Treasury shall submit to Congress a 
report that includes a comprehensive accounting of all new or ongoing 
active conflicts of interest, as defined in section 2 of the Federal 
Funding Accountability and Transparency Act of 2006 (31 U.S.C. 6101 
note), as amended by section 2 of this Act.
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