[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8489 Introduced in House (IH)]

<DOC>






118th CONGRESS
  2d Session
                                H. R. 8489

  To amend title 5, United States Code, to require additional ethics 
    disclosures for the President, Vice President, and their family 
                    members, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 22, 2024

 Mr. Comer (for himself and Ms. Porter) introduced the following bill; 
  which was referred to the Committee on Oversight and Accountability

_______________________________________________________________________

                                 A BILL


 
  To amend title 5, United States Code, to require additional ethics 
    disclosures for the President, Vice President, and their family 
                    members, and for other purposes.

    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 Ethics Reform Act''.

SEC. 2. ADDITIONAL REPORTING REQUIREMENTS FOR PRESIDENTS AND VICE 
              PRESIDENTS.

    (a) Additional Ethics Reporting Requirements for Presidents and 
Vice Presidents.--Section 13103 of title 5, United States Code, is 
amended--
            (1) by redesignating subsection (i) as subsection (j);
            (2) by inserting after subsection (h) the following new 
        subsection:
    ``(i) Additional Ethics Reports for Presidents and Vice 
Presidents.--
            ``(1) Upon entering.--Within 30 days of assuming the office 
        of President or Vice President, an individual shall file a 
        report containing the information described in each of 
        subsections (j) through (m) of section 13104 with respect to 
        the 2 years preceding the assumption of such office.
            ``(2) Additional annual reports.--Any individual who 
        occupies the office of President or Vice President shall file 
        on or before May 15 a report containing, with respect to the 
        prior calendar year for which such individual occupies the 
        office, the information described in each of subsections (j) 
        through (o) of section 13104.
            ``(3) Post-departure reports.--
                    ``(A) Initial post-departure report.--Following the 
                date on which an individual ceases to occupy the office 
                of President or Vice President, such individual shall 
                file a report containing, with respect to the final 
                calendar year during which such individual occupied the 
                office and any applicable partial calendar year 
                immediately preceding such date, the information 
                described in each of subsections (j) through (o) of 
                section 13104--
                            ``(i) on or before the first-occurring May 
                        15 after the full regular term in office of the 
                        individual has ended; or
                            ``(ii) within 30 calendar days of the date 
                        that such individual ceases to occupy office if 
                        such date is prior to the end of their full 
                        regular term in office.
                    ``(B) Subsequent post-departure reports.--Beginning 
                on the date that is one year after the date on which an 
                individual ceased to occupy the office of President or 
                Vice President and annually thereafter, such individual 
                shall file on or before May 15 a report containing, 
                with respect to the prior year, the information 
                described in each of subsections (j) through (m) of 
                section 13104.
                    ``(C) Duration.--The requirement under subparagraph 
                (B) ends on the first-occurring May 15 following the 
                date that is 2 years after the date on which such 
                individual ceased to occupy such office.
            ``(4) Reports requiring periodic updates.--With respect to 
        an individual required to submit a report under paragraphs (1) 
        through (3), such individual shall--
                    ``(A) with respect to subsection (n), submit an 
                addendum to the report required under paragraphs (2) 
                and (3)(A) to the entities under paragraph (5)(A) 
                within 30 days of a new conflict of interest becoming 
                known; and
                    ``(B) with respect to subsection (o), submit an 
                addendum to the report required under paragraphs (2) 
                and (3)(A) to the entities designated under paragraph 
                (5) within 30 days of a relative accompanying such 
                individual on official travel.
            ``(5) Submission of reports.--
                    ``(A) In general.--Each report or addendum required 
                to be submitted under this subsection shall be 
                submitted to the following entities:
                            ``(i) The Committee on Oversight and 
                        Accountability of the House of Representatives.
                            ``(ii) The Judiciary Committee of the 
                        Senate.
                            ``(iii) The Director of the Office of 
                        Government Ethics to be made publicly available 
                        by the Director within 30 days of receipt, in 
                        conformity with the requirements under 
                        paragraph (6).
                    ``(B) Additional entities.--In the case of 
                subsection (o), the report or addendum shall also be 
                submitted to the following:
                            ``(i) The Committee on Armed Services of 
                        the House of Representatives.
                            ``(ii) The Permanent Select Committee on 
                        Intelligence of the House of Representatives.
                            ``(iii) The Committee on Armed Services of 
                        the Senate.
                            ``(iv) The Select Committee on Intelligence 
                        of the Senate.
                            ``(v) The Director of the White House 
                        Military Office to be made publicly available 
                        by the Director within 30 days of receipt, in 
                        conformity with the requirements under 
                        paragraph (6).
            ``(6) Availability of reports.--The applicable reports 
        under paragraph (5) shall be made publicly available on a 
        website, which may utilize an existing government website, in a 
        manner that--
                    ``(A) allows the public to search, sort, filter, 
                and download reports by the category of additional 
                reports required under this subsection, the filer name 
                or name of the filer's relative, or a date or the date 
                range of the period covered by the report; and
                    ``(B) is fully compliant with the web design 
                requirements under subsection (a) of section 3 of the 
                21st Century Integrated Digital Experience Act (44 
                U.S.C. 3501 note).''; and
            (3) in subsection (j) as redesignated by paragraph (1), by 
        inserting ``, except subsection (i),'' after ``under this 
        section''.
    (b) Contents of Additional Ethics Reports.--Section 13104 of title 
5, United States Code, is amended by adding at the end the following 
new subsections:
    ``(j) Gifts.--Each report filed pursuant to section 13103(i) shall 
include a full and complete statement with respect to each gift valued 
at more than $10,000--
            ``(1) received by such individual during the applicable 
        time period from a relative; and
            ``(2) received by a relative during the applicable time 
        period.
    ``(k) Loans.--Each report filed pursuant to section 13103(i) shall 
include a full and complete statement with respect to all loans or loan 
repayments, including the terms and repayment schedules of each such 
loan or loan repayment, made during the applicable time period--
            ``(1) to such individual by a relative; or
            ``(2) to a relative of such an individual in an amount 
        greater than $10,000, other than commercial loans or repayments 
        thereof, which may include loans that have customary interest 
        rates based on commonly accepted categories of loans and that 
        are evidenced by a written instrument between parties that 
        defines the terms of repayment.
    ``(l) Foreign Payments.--
            ``(1) Each report filed pursuant to section 13103(i) shall 
        include a full and complete statement with respect to any 
        payment, transfer, or other item of value received during the 
        applicable time period by such individual or a relative of such 
        individual from a foreign principal or a foreign principal's 
        agent, representative, employee, or servant.
            ``(2) In this subsection, the term `foreign principal' 
        includes--
                    ``(A) a government of a foreign country and a 
                foreign political party;
                    ``(B) a person outside of the United States, unless 
                it is established that such person is an individual and 
                a citizen of and domiciled within the United States, or 
                that such person is not an individual and is organized 
                under or created by the laws of the United States or of 
                any State or other place subject to the jurisdiction of 
                the United States and has its principal place of 
                business within the United States; and
                    ``(C) a partnership, association, corporation, 
                organization or other combination of persons organized 
                under the laws of or having its principal place of 
                business in a foreign country.
    ``(m) Federal Income Tax Returns.--
            ``(1) In general.--Each report filed pursuant to section 
        13103(i) shall include a copy of each applicable Federal income 
        tax return with respect to the reporting individual for any 
        taxable year which ends in or with the time period covered by 
        such report. In the case of any such income tax return which is 
        not filed with the Internal Revenue Service before the date on 
        which such report is filed, such return shall be submitted 
        under section 13103(i) not later than 30 days after the date 
        that such income tax return is filed with the Internal Revenue 
        Service.
            ``(2) Confidentiality.--Before making publicly available 
        any income tax return under this subchapter, the Director of 
        the Office of Government Ethics shall redact such information 
        as the Director determines is necessary for protecting against 
        identity theft, such as social security numbers.
            ``(3) Applicable federal income tax return.--For purposes 
        of this subsection, the term `applicable Federal income tax 
        return' means any Federal income tax return of--
                    ``(A) a reporting individual;
                    ``(B) an individual who is married (within the 
                meaning of section 7703(a) of the Internal Revenue Code 
                of 1986) to a reporting individual for the taxable year 
                to which such return relates;
                    ``(C) any corporation or partnership which is 
                controlled by any individual described in subparagraph 
                (A) or (B) at any time during the taxable year to which 
                such return relates;
                    ``(D) the estate of any person described in (A) or 
                (B) or any estate with respect to which any person 
                described in subparagraph (A), (B), or (C) is an 
                executor, or beneficiary at any time during the taxable 
                year to which such return relates; and
                    ``(E) any trust with respect to which any person 
                described in subparagraph (A), (B), (C), or (D) is a 
                grantor, fiduciary or beneficiary, or for which another 
                trust described in this subparagraph is a grantor or 
                beneficiary, at any time during the taxable year to 
                which such return relates.
        Such term shall include any schedule, attachment, or other 
        document filed with such return.
            ``(4) Control.--For purposes of paragraph (3)(C)--
                    ``(A) In general.--Except as otherwise provided in 
                this paragraph, control shall be determined under the 
                rules of paragraphs (2) and (3) of section 6038(e) of 
                the Internal Revenue Code of 1986 (determined without 
                regard to subparagraphs (A) and (B) of such paragraph 
                (2) and without regard to subparagraph (C) of paragraph 
                (3) thereof).
                    ``(B) Restriction on family attribution.--
                            ``(i) In general.--Except as provided in 
                        clause (ii), for purposes of applying 
                        subparagraph (A)--
                                    ``(I) section 318 of the Internal 
                                Revenue Code of 1986 shall be applied 
                                without regard to subsection 
                                (a)(1)(A)(ii) thereof; and
                                    ``(II) section 267(c) of the 
                                Internal Revenue Code of 1986 shall be 
                                applied by treating the family of an 
                                individual as including only such 
                                individual's spouse (in lieu of the 
                                application of paragraph (4) thereof).
                            ``(ii) Exception for recent transfer to 
                        family members.--For purposes of determining 
                        whether any corporation or partnership is 
                        controlled by a reporting individual under 
                        paragraph (3)(C) for any taxable year, clause 
                        (i) shall not apply if such corporation or 
                        partnership was controlled by such reporting 
                        individual (after application of clause (i)) at 
                        any time during the 4 immediately preceding 
                        taxable years.
            ``(5) Application to amended returns.--For purposes of this 
        paragraph (1), any amendment or supplement to a return of tax 
        shall be treated as for the taxable year to which the 
        underlying return relates.
    ``(n) Conflicts of Interest.--
            ``(1) In general.--Each report filed pursuant to section 
        13103(i) shall include a full and complete statement with 
        respect to each instance during the applicable time period in 
        which the reporting individual or a relative of such 
        individual--
                    ``(A) knows that a particular matter involving 
                specific parties had a direct effect or is likely to 
                have both a direct and predictable effect on the 
                financial interest of such individual or such relative; 
                or
                    ``(B) knows that a person with whom the individual 
                or such relative has a covered relationship, as 
                described in paragraph (2), is or represents a party to 
                such matter.
            ``(2) Covered relationship.--With respect to a particular 
        matter involving specific parties, an individual or relative 
        has a covered relationship with such a party or a 
        representative of such a party if the individual or relative--
                    ``(A) has served, is serving, or is seeking to 
                serve as an officer, director, trustee, general 
                partner, agent, attorney, consultant, contractor or 
                employee of the party or a representative;
                    ``(B) otherwise has or seeks a business, 
                contractual, or other financial relationship with the 
                party or a representative that involves other than a 
                routine consumer transaction;
                    ``(C) is a member of the household of the party or 
                is otherwise a family member of the party or a 
                representative with a close personal relationship; or
                    ``(D) is otherwise an active participant in an 
                organization in which the party or a representative is 
                also an active participant.
            ``(3) Definitions.--In this subsection:
                    ``(A) Direct and predictable effect.--For the 
                purposes of the term `direct and predictable effect'--
                            ``(i) a `direct effect' (of a particular 
                        matter on a financial interest)--
                                    ``(I) is characterized by a close 
                                causal link between any decision or 
                                action to be taken in the matter and 
                                any effect or expected effect of the 
                                matter on the financial interest, even 
                                if the effect does not occur 
                                immediately;
                                    ``(II) is not characterized by--
                                            ``(aa) an attenuated chain 
                                        of causation or a chain of 
                                        causation contingent upon the 
                                        occurrence of events that are 
                                        speculative or that are 
                                        independent of, and unrelated 
                                        to, the matter; or
                                            ``(bb) an effect on a 
                                        financial interest only as a 
                                        consequence of effects on the 
                                        general economy; and
                            ``(ii) a `predictable effect' (of a 
                        particular matter on a financial interest) is 
                        characterized by a reasonable expectation of a 
                        real, as opposed to a speculative possibility, 
                        that the matter will affect the financial 
                        interest regardless of whether the magnitude of 
                        the gain or loss be known, or the dollar amount 
                        of the gain or loss is immaterial.
                    ``(B) Particular matter involving specific 
                parties.--The term `particular matter involving 
                specific parties' means any judicial or other 
                proceeding, application, request for a ruling or other 
                determination, contract, claim, controversy, 
                investigation, charge, accusation, arrest or other 
                particular matter involving a specific party or parties 
                in which the United States is a party or has a direct 
                and substantial interest.
    ``(o) Accompaniment on Official Travel.--
            ``(1) In general.--Each report or addendum filed pursuant 
        to section 13103(i) shall, with respect to the applicable time 
        period, include a full and complete statement with respect to 
        the following:
                    ``(A) Each instance on which a relative (other than 
                a minor child) accompanied the reporting individual on 
                official travel and a description of the official 
                purpose for the relative to accompany the reporting 
                individual, including a listing of related events and 
                meetings on the trip which the relative attended.
                    ``(B) Each instance on which the accompaniment of 
                the relative under subparagraph (A) also related to a 
                commercial purpose.
                    ``(C) A description of each commercial purpose 
                under subparagraph (B) to which the accompaniment under 
                subparagraph (A) is related.
                    ``(D) The name, professional title or role, and 
                associated entity of each person involved in any 
                meeting or other engagement or activity with the 
                relative relating to each commercial purpose described 
                in subparagraph (C).
                    ``(E) Each instance on which the accompaniment of 
                the relative under subparagraph (A) included a meeting 
                with a foreign principal that otherwise exceeded the 
                scope of the official purpose of the travel described 
                in subparagraph (A).
            ``(2) Classified annex.--The reporting individual may 
        submit a classified annex to the report or addendum required 
        under this subsection to protect properly classified national 
        security information.
    ``(p) Information Relating to Relatives.--
            ``(1) In case of estrangement.--With respect to each report 
        or addendum required by section 13103(i) containing the 
        information required in each of subsections (j) through (o), 
        the reporting individual may exclude the information of any 
        relative if the reporting individual--
                    ``(A) certifies to the Director of the Office of 
                Government Ethics that the reporting individual--
                            ``(i) engaged in a sustained and diligent 
                        effort to contact or connect with any such 
                        relative in order to acquire the relevant 
                        information from any such relative; and
                            ``(ii) is unable to acquire relevant 
                        information from any such relative to comply 
                        with the reporting requirements under 
                        subsections (j) through (o) despite the effort 
                        engaged in under clause (i); and
                    ``(B) provides documentation of such engagement.
            ``(2) In case of relative who is a federal employee or 
        officeholder.--With respect to each report or addendum required 
        by section 13103(i) containing the information required in each 
        of subsections (j) through (o), the reporting individual may 
        exclude the information of any relative if the reporting 
        individual certifies to the Director of the Office of 
        Government Ethics that such information is required to be 
        disclosed by such relative under other provisions of this 
        subchapter.
            ``(3) Definition of relative.--With respect to each report 
        or addendum required by section 13103(i) containing the 
        information required in each of subsections (j) through (o), 
        the term `relative' means any of the following:
                    ``(A) Father.
                    ``(B) Mother.
                    ``(C) Son.
                    ``(D) Daughter.
                    ``(E) Brother.
                    ``(F) Sister.
                    ``(G) Husband.
                    ``(H) Wife.
                    ``(I) Father-In-Law.
                    ``(J) Mother-In-Law.
                    ``(K) Son-In-Law.
                    ``(L) Daughter-In-Law.
                    ``(M) Brother-In-Law.
                    ``(N) Sister-In-Law.
                    ``(O) Stepfather.
                    ``(P) Stepmother.
                    ``(Q) Stepson.
                    ``(R) Stepdaughter.
                    ``(S) Stepbrother.
                    ``(T) Stepsister.
                    ``(U) Half-Brother.
                    ``(V) Half-Sister.''.
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