[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3555 Introduced in Senate (IS)]

<DOC>






118th CONGRESS
  1st Session
                                S. 3555

To amend chapter 131 of title 5, United States Code, and the STOCK Act 
 to require certain senior officials to report payments received from 
    the Federal Government, to improve the filing and disclosure of 
financial disclosures by Members of Congress, congressional staff, very 
  senior employees, and others, and to ban stock trading for certain 
          senior Government officials, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           December 18, 2023

Mrs. Gillibrand introduced the following bill; which was read twice and 
referred to the Committee on Homeland Security and Governmental Affairs

_______________________________________________________________________

                                 A BILL


 
To amend chapter 131 of title 5, United States Code, and the STOCK Act 
 to require certain senior officials to report payments received from 
    the Federal Government, to improve the filing and disclosure of 
financial disclosures by Members of Congress, congressional staff, very 
  senior employees, and others, and to ban stock trading for certain 
          senior Government officials, 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 ``STOCK Act 2.0''.

SEC. 2. REPORTING OF APPLICATIONS FOR, OR RECEIPT OF, PAYMENTS FROM 
              FEDERAL GOVERNMENT.

    (a) In General.--Section 13103 of title 5, United States Code, is 
amended by adding at the end the following:
    ``(i) Reporting of Applications for, or Receipt of, Payments From 
Federal Government.--
            ``(1) Definitions.--In this subsection:
                    ``(A) Covered payment.--
                            ``(i) In general.--The term `covered 
                        payment' means a payment of money or any other 
                        item of value made, or promised to be made, by 
                        the Federal Government.
                            ``(ii) Inclusions.--The term `covered 
                        payment' includes--
                                    ``(I) a loan agreement, contract, 
                                or grant made, or promised to be made, 
                                by the Federal Government; and
                                    ``(II) such other types of payment 
                                of money or items of value as the 
                                Secretary of the Treasury, in 
                                consultation with the Director of the 
                                Office of Government Ethics, may 
                                establish, by regulation.
                            ``(iii) Exclusions.--The term `covered 
                        payment' does not include--
                                    ``(I) any salary or compensation 
                                for service performed as, or 
                                reimbursement of personal outlay by, an 
                                officer or employee of the Federal 
                                Government; or
                                    ``(II) any tax refund (including a 
                                refundable tax credit).
                    ``(B) Covered person.--The term `covered person' 
                means--
                            ``(i) an individual described in any of 
                        paragraphs (1) through (13) of section 
                        13105(l); or
                            ``(ii) a spouse or dependent child of an 
                        individual described in clause (i).
                    ``(C) Dependent child.--The term `dependent child' 
                means, with respect to any individual described in 
                subparagraph (B)(i), any individual who is--
                            ``(i) under the age of 19; and
                            ``(ii) a dependent of the individual 
                        described in subparagraph (B)(i) within the 
                        meaning of section 152 of the Internal Revenue 
                        Code of 1986.
            ``(2) Reporting requirement.--Not later than 30 days after 
        the date of receipt of a notice of any application for, or 
        receipt of, a covered payment by a covered person (including 
        any business owned and controlled by the covered person), but 
        in no case later than 45 days after the date on which the 
        covered payment is made or promised to be made, the covered 
        person shall submit to the applicable supervising ethics office 
        a report describing the covered payment.
            ``(3) Fine for failure to report.--Notwithstanding section 
        13106(d), a covered person shall be assessed a fine, pursuant 
        to regulations issued by the applicable supervising ethics 
        office, of $5,000 in each case in which the covered person 
        fails to file a report required under this subsection.''.
    (b) Report Contents.--Section 13104 of title 5, United States Code, 
is amended by adding at the end the following:
    ``(j) Payments From Federal Government.--Each report filed pursuant 
to subsection (i) of section 13103 shall include--
            ``(1) an identification of each type of payment or item of 
        value applied for, or received, from the Federal Government;
            ``(2)(A) the name of each recipient of each payment or item 
        of value identified under paragraph (1); and
            ``(B) the relationship of each recipient named under 
        subparagraph (A) to the person filing the report;
            ``(3) a description of the date on which, as applicable--
                    ``(A) an application for a payment or other item of 
                value was submitted to the Federal Government; and
                    ``(B) the payment or item of value was received 
                from the Federal Government; and
            ``(4) a description of the amount of each applicable 
        payment or item of value.''.
    (c) Technical and Conforming Amendments.--
            (1) Persons required to file.--Section 13103(f) of title 5, 
        United States Code, is amended--
                    (A) in paragraph (9), by striking ``as defined in 
                section 13101 of this title'';
                    (B) in paragraph (10), by striking ``as defined in 
                section 13101 of this title'';
                    (C) in paragraph (11), by striking ``as defined in 
                section 13101 of this title''; and
                    (D) in paragraph (12), by striking ``as defined in 
                section 13101 of this title''.
            (2) Contents of reports.--Section 13104(a) of title 5, 
        United States Code, is amended in the matter preceding 
        paragraph (1), by striking ``section 13103(d) and (e)'' and 
        inserting ``subsection (d) or (e) of section 13103''.
    (d) Effective Date.--The amendments made by this section shall 
apply to relevant applications submitted to, and payments made or 
promised to be made by, the Federal Government on or after the date 
that is 90 days after the date of enactment of this Act.

SEC. 3. INCLUSION OF FEDERAL RESERVE OFFICIALS.

    (a) In General.--Notwithstanding any other provision of law, each 
provision of law described in subsection (b) shall apply to a 
president, vice president, or director of a Federal Reserve bank.
    (b) Description of Provisions of Law.--The provisions of law 
referred to in subsection (a) are--
            (1) subchapter I of chapter 131 of title 5, United States 
        Code;
            (2) the STOCK Act (Public Law 112-105; 126 Stat. 291; 126 
        Stat. 1310; 127 Stat. 438; 132 Stat. 4167); and
            (3) subsections (h) and (i) of section 21A of the 
        Securities Exchange Act of 1934 (15 U.S.C. 78u-1).
    (c) Supervising Ethics Office.--For purposes of this section and 
the provisions of law described in subsection (b), the supervising 
ethics office for a president of a Federal Reserve bank, vice president 
of a Federal Reserve bank, or director of a Federal Reserve bank shall 
be the Inspector General of the Board of Governors of the Federal 
Reserve System and the Bureau of Consumer Financial Protection.

SEC. 4. PENALTY FOR NONCOMPLIANCE.

    (a) In General.--Section 13106(a)(2)(B)(ii) of title 5, United 
States Code, is amended by striking ``fined under title 18'' and 
inserting ``fined $1,000 in each case in which the individual fails to 
file a transaction report required under this Act''.
    (b) Rules, Regulations, Guidance, and Documents.--Not later than 1 
year after the date of enactment of this Act, each supervising ethics 
office (as defined in section 2 of the STOCK Act (5 U.S.C. 13101 
note))(including the Administrative Office of the United States Courts, 
as applicable) shall amend the rules, regulations, guidance, documents, 
papers, and other records of the supervising ethics office in 
accordance with the amendment made by this section.

SEC. 5. BANNING CONFLICTED INTERESTS.

    (a) In General.--
            (1) Banning conflicted interests.--Chapter 131 of title 5, 
        United States Code, is amended by adding at the end the 
        following:

             ``Subchapter IV--Banning Conflicted Interests

``Sec. 13161. Definitions
    ``In this subchapter:
            ``(1) Commodity.--The term `commodity' has the meaning 
        given the term in section 1a of the Commodity Exchange Act (7 
        U.S.C. 1a).
            ``(2) Covered financial interest.--
                    ``(A) In general.--The term `covered financial 
                interest' means--
                            ``(i) any investment in--
                                    ``(I) a security (as defined in 
                                section 3(a) of Securities Exchange Act 
                                of 1934 (15 U.S.C. 78c(a)));
                                    ``(II) a future;
                                    ``(III) a commodity (as defined in 
                                section 1a of the Commodity Exchange 
                                Act (7 U.S.C. 1a)); or
                                    ``(IV) cryptocurrency, such as a 
                                coin or token--
                                            ``(aa) received in 
                                        connection with an initial coin 
                                        offering; or
                                            ``(bb) issued or 
                                        distributed using distributed 
                                        ledger or blockchain 
                                        technology; and
                            ``(ii) any economic interest comparable to 
                        an interest described in clause (i) that is 
                        acquired through synthetic means, such as the 
                        use of a derivative, including an option, 
                        warrant, or other similar means.
                    ``(B) Exclusions.--The term `covered financial 
                interest' does not include--
                            ``(i) an investment fund registered as an 
                        investment company under section 3 of the 
                        Investment Company Act of 1940 (15 U.S.C. 80a-
                        3) that is diversified as defined in section 
                        2640.102 of title 5, Code of Federal 
                        Regulations;
                            ``(ii) compensation from the primary 
                        occupation of the spouse of an individual 
                        described in subparagraphs (A) through (G) of 
                        paragraph (3), or any security that is issued 
                        or paid by an operating business that is the 
                        primary employer of such a spouse that is 
                        issued or paid to such a spouse; or
                            ``(iii) a United States Treasury bill, 
                        note, or bond.
            ``(3) Covered individual.--The term `covered individual' 
        means--
                    ``(A) a Member of Congress (as defined in section 
                13101);
                    ``(B) the President;
                    ``(C) the Vice President;
                    ``(D) the Chief Justice of the United States;
                    ``(E) an Associate Justice of the Supreme Court of 
                the United States;
                    ``(F) a member of the Board of Governors of the 
                Federal Reserve System;
                    ``(G) a president or vice president of a Federal 
                Reserve bank; or
                    ``(H) the spouse or dependent child of an 
                individual described in subparagraphs (A) through (G).
            ``(4) Dependent child.--The term `dependent child' means 
        any individual who is--
                    ``(A) under the age of 19; and
                    ``(B) a dependent of an individual described in 
                subparagraphs (A) through (G) of paragraph (3) within 
                the meaning of section 152 of the Internal Revenue Code 
                of 1986.
            ``(5) Future.--The term `future' means--
                    ``(A) a security future (as defined in section 3(a) 
                of Securities Exchange Act of 1934 (15 U.S.C. 78c(a))); 
                and
                    ``(B) any other contract for the sale of a 
                commodity for future delivery.
            ``(6) Supervising ethics office.--The term `supervising 
        ethics office', with respect to a covered individual, has the 
        meaning given the term in section 13101 with respect to that 
        covered individual.
``Sec. 13162. Prohibitions
    ``(a) Transactions.--Except as provided in section 13163, no 
covered individual may--
            ``(1) hold, purchase, sell, or conduct any type of 
        transaction with respect to a covered financial interest; or
            ``(2) enter into a transaction that creates a net short 
        position in any security.
    ``(b) Positions.--A covered individual may not serve as an officer 
or member of any board of any for-profit association, corporation, or 
other entity.
    ``(c) Cooling-Off Period.--Any individual subject to the 
restrictions contained in subsection (a) who, within 120 days after 
such individual ceases to be a covered individual, engages in any of 
the actions under such subsection, shall be in violation of this 
subchapter.
``Sec. 13163. Divestiture
    ``(a) Covered Financial Interests Acquired Prior to Federal Service 
or Enactment of STOCK ACT 2.0.--With respect to any covered financial 
interest held by a covered individual, the covered individual shall 
sell the covered financial interest during the applicable 120-day 
period beginning on the later of--
            ``(1) the date on which an individual becomes a covered 
        individual; and
            ``(2) the date of enactment of STOCK Act 2.0.
    ``(b) Covered Financial Interests Acquired Through Inheritance 
After the Applicable Period.--
            ``(1) In general.--A covered individual who inherits a 
        covered financial interest after the conclusion of the 
        applicable 120-day period described in subsection (a) shall 
        sell the covered financial interest during the 120-day period 
        beginning on the date on which the covered financial interest 
        is inherited.
            ``(2) Extensions.--A covered individual may request, and 
        the supervising ethics office may grant, 1 or more reasonable 
        extensions of the period described under paragraph (1), subject 
        to the conditions that--
                    ``(A) the total period of time covered by all 
                extensions granted for the covered financial interest 
                shall not exceed 150 days; and
                    ``(B) the period covered by a single extension 
                shall be not longer than 45 days.
``Sec. 13164. Certificate of compliance
    ``Each covered individual shall submit to the supervising ethics 
office a written certification that such covered individual has 
achieved compliance with the requirements of this subchapter.
``Sec. 13165. Publication
    ``Each supervising ethics office shall make publicly available on a 
website of such office the following:
            ``(1) Within 30 days of receipt, each request for an 
        extension under section 13163(b)(2).
            ``(2) The outcome of the decision to grant or deny each 
        such request within 30 days of such decision.
``Sec. 13166. Enforcement
    ``A covered individual who knowingly fails to comply with this 
subchapter shall be assessed a fine by the supervising ethics office of 
not less than 10 percent of the value of the covered financial interest 
that was purchased, sold, or held, or the security in which a net short 
position was created, in violation of this title, as applicable.
``Sec. 13167. Applicability
    ``This subchapter shall apply to any covered financial interest 
held in any trust with respect to which the covered individual is a 
beneficial owner, regardless of whether the trust is a qualified blind 
trust.''.
            (2) Clerical amendment.--The table of sections for chapter 
        131 of title 5, United States Code, is amended by adding at the 
        end the following:

              subchapter iv--banning conflicted interests

Sec. 13161. Definitions.
Sec. 13162. Prohibitions.
Sec. 13163. Divestiture.
Sec. 13164. Certificate of compliance.
Sec. 13165. Publication.
Sec. 13166. Enforcement.
Sec. 13167. Applicability.
    (b) Certificate of Divestiture.--Section 1043(b)(2)(B) of the 
Internal Revenue Code of 1986 is amended to read as follows:
                    ``(B) that has been issued by--
                            ``(i) the President or the Director of the 
                        Office of Government Ethics, in the case of 
                        executive branch officers or employees or the 
                        spouse or dependent child of a member of the 
                        Board of Governors of the Federal Reserve 
                        System,
                            ``(ii) the Director of the Office of 
                        Government Ethics, in the case of the 
                        President, Vice President, or the spouse or 
                        dependent child of the President or Vice 
                        President,
                            ``(iii) the Judicial Conference of the 
                        United States (or its designee), in the case of 
                        judicial officers or the spouse or dependent 
                        child of the Chief Justice or the Associate 
                        Justice,
                            ``(iv) the applicable congressional ethics 
                        committee, in the case of Members of Congress 
                        or the spouse or dependent child of a Member of 
                        Congress, or
                            ``(v) the Inspector General of the Board of 
                        Governors of the Federal Reserve System and the 
                        Bureau of Consumer Financial Protection, in the 
                        case of a president of a Federal Reserve bank, 
                        vice president of a Federal Reserve bank, or 
                        the spouse or dependent child of the president 
                        or vice president of a Federal Reserve Bank, 
                        and''.
    (c) Conforming Amendments.--
            (1) Authority and functions.--Section 13122(f)(2)(B) of 
        title 5, United States Code, is amended--
                    (A) by striking ``Subject to clause (iv) of this 
                subparagraph, before'' each place it appears and 
                inserting ``Before''; and
                    (B) by striking clause (iv).
            (2) Lobbying disclosure act of 1995.--Section 3(4)(D) of 
        the Lobbying Disclosure Act of 1995 (2 U.S.C. 1602(4)(D)) is 
        amended by striking ``legislative branch employee serving in a 
        position described under section 13101(13) of title 5, United 
        States Code'' and inserting ``officer or employee of Congress 
        (as defined in section 13101 of title 5, United States Code)''.
            (3) STOCK act.--Section 2 of the STOCK Act (5 U.S.C. 13101 
        note) is amended--
                    (A) in paragraph (2)(B), by striking ``(11)'';
                    (B) in paragraph (4), by striking ``(10)'';
                    (C) in paragraph (5), by striking ``(9)''; and
                    (D) in paragraph (6), by striking ``(18)''.
            (4) Securities exchange act of 1934.--Section 21A of the 
        Securities Exchange Act of 1934 (15 U.S.C. 78u-1) is amended--
                    (A) in subsection (g)(2)(B)(ii), by striking 
                ``(11)''; and
                    (B) in subsection (h)(2)--
                            (i) in subparagraph (B), by striking 
                        ``(9)''; and
                            (ii) in subparagraph (C), by striking 
                        ``(10)''.

SEC. 6. ELECTRONIC FILING AND ONLINE PUBLIC AVAILABILITY OF FINANCIAL 
              DISCLOSURE FORMS.

    (a) Members of Congress and Congressional Staff.--Section 8(b)(1) 
of the STOCK Act (5 U.S.C. 13107 note) is amended--
            (1) in the matter preceding subparagraph (A), by inserting 
        ``, pursuant to chapter 131 of title 5, United States Code, 
        through databases maintained on the official websites of the 
        Senate and House of Representatives'' after ``enable'';
            (2) in subparagraph (A), by striking ``reports received by 
        them pursuant to section 13105(h)(1)(A) of title 5, United 
        States Code, and'' and inserting ``each report received under 
        section 13105(h)(1)(A) of title 5, United States Code; and''; 
        and
            (3) by striking subparagraph (B) and the undesignated 
        matter following that subparagraph and inserting the following:
                    ``(B) public access--
                            ``(i) to each--
                                    ``(I) financial disclosure report 
                                filed by a Member of Congress or a 
                                candidate for Congress;
                                    ``(II) transaction disclosure 
                                report filed by a Member of Congress or 
                                a candidate for Congress pursuant to 
                                section 13105(l) of title 5, United 
                                States Code; and
                                    ``(III) notice of extension, 
                                amendment, or blind trust, with respect 
                                to a report described in subclause (I) 
                                or (II), pursuant to chapter 131 of 
                                title 5, United States Code; and
                            ``(ii) in a manner that--
                                    ``(I) allows the public to search, 
                                sort, and download data contained in 
                                the reports described in subclause (I) 
                                or (II) of clause (i) by criteria 
                                required to be reported, including by 
                                filer name, asset, transaction type, 
                                ticker symbol, notification date, 
                                amount of transaction, and date of 
                                transaction;
                                    ``(II) allows access through an 
                                application programming interface; and
                                    ``(III) is fully compliant with--
                                            ``(aa) section 508 of the 
                                        Rehabilitation Act of 1973 (29 
                                        U.S.C. 794d); and
                                            ``(bb) the most recent Web 
                                        Content Accessibility 
                                        Guidelines (or successor 
                                        guidelines).''.
    (b) Very Senior Executive Branch Employees.--Section 11(b)(1) of 
the STOCK Act (Public Law 112-105; 126 Stat. 299) is amended--
            (1) in the matter preceding subparagraph (A), by inserting 
        ``, pursuant to chapter 131 of title 5, United States Code, 
        through databases maintained on the official website of the 
        Office of Government Ethics'' after ``enable''; and
            (2) by striking subparagraph (B) and the undesignated 
        matter following that subparagraph and inserting the following:
                    ``(B) public access--
                            ``(i) to each--
                                    ``(I) financial disclosure report 
                                filed by the President, Vice President, 
                                or an officer occupying a position 
                                listed in section 5312 or 5313 of title 
                                5, United States Code, having been 
                                nominated by the President and 
                                confirmed by the Senate to that 
                                position;
                                    ``(II) transaction disclosure 
                                report filed by an individual described 
                                in subclause (I) pursuant to section 
                                13105(l) of title 5, United States 
                                Code; and
                                    ``(III) notice of extension, 
                                amendment, or blind trust, with respect 
                                to a report described in subclause (I) 
                                or (II), pursuant to chapter 131 of 
                                title 5, United States Code; and
                            ``(ii) in a manner that--
                                    ``(I) allows the public to search, 
                                sort, and download data contained in 
                                the reports described in subclause (I) 
                                or (II) of clause (i) by criteria 
                                required to be reported, including by 
                                filer name, asset, transaction type, 
                                ticker symbol, notification date, 
                                amount of transaction, and date of 
                                transaction;
                                    ``(II) allows access through an 
                                application programming interface; and
                                    ``(III) is fully compliant with--
                                            ``(aa) section 508 of the 
                                        Rehabilitation Act of 1973 (29 
                                        U.S.C. 794d); and
                                            ``(bb) the most recent Web 
                                        Content Accessibility 
                                        Guidelines (or successor 
                                        guidelines).''.
    (c) Judicial Officers.--Section 9 of the STOCK Act (Public Law 112-
105; 126 Stat. 297) is amended by adding at the end the following:
    ``(c) Judicial Officers.--
            ``(1) In general.--Subject to paragraph (6), not later than 
        1 year after the date of enactment of this subsection, the 
        Administrative Office of the United States Courts shall develop 
        a system to enable, pursuant to chapter 131 of title 5, United 
        States Code, through a database maintained on the official 
        website of the Administrative Office of the United States 
        Courts--
                    ``(A) electronic filing of reports received from 
                judicial officers pursuant to that chapter; and
                    ``(B) public access--
                            ``(i) to each--
                                    ``(I) financial disclosure report 
                                filed by a judicial officer;
                                    ``(II) transaction disclosure 
                                report filed by a judicial officer 
                                pursuant to section 13105(l) of title 
                                5, United States Code; and
                                    ``(III) notice of extension, 
                                amendment, or blind trust, with respect 
                                to a report described in subclause (I) 
                                or (II), pursuant to chapter 131 of 
                                title 5, United States Code; and
                            ``(ii) in a manner that--
                                    ``(I) allows the public to search, 
                                sort, and download data contained in a 
                                report described in clause (i) by 
                                criteria required to be reported, 
                                including by filer name, asset, 
                                transaction type, ticker symbol, 
                                notification date, amount of 
                                transaction, and date of transaction;
                                    ``(II) allows access through an 
                                application programming interface; and
                                    ``(III) is fully compliant with--
                                            ``(aa) section 508 of the 
                                        Rehabilitation Act of 1973 (29 
                                        U.S.C. 794d); and
                                            ``(bb) the most recent Web 
                                        Content Accessibility 
                                        Guidelines (or successor 
                                        guidelines).
            ``(2) Login.--For purposes of filings under paragraph 
        (1)(B), section 13107(b)(2) of title 5, United States Code, 
        shall not apply.
            ``(3) Public availability.--The electronic availability of 
        filings under paragraph (1)(B) on the official website of the 
        Administrative Office of the United States Courts shall be 
        deemed to meet the public availability requirement under 
        section 13107(b)(1) of title 5, United States Code.
            ``(4) Filers covered.--Each judicial officer who is 
        required under chapter 131 of title 5, United States Code, to 
        file a financial disclosure report with a supervising ethics 
        office shall be able to file that report electronically using 
        the applicable system developed under this subsection.
            ``(5) Extensions.--Each notice of an extension for a 
        financial disclosure covered by this subsection shall be made 
        available electronically under paragraph (1)(B), together with 
        any related disclosure.
            ``(6) Additional time.--The requirements of this subsection 
        may be implemented after the date described in paragraph (1) if 
        the Administrative Office of the United States Courts 
        identifies in writing to the relevant congressional committees 
        the additional time needed for that implementation.''.
    (d) Officers of Federal Reserve Banks.--Section 9 of the STOCK Act 
(Public Law 112-105; 126 Stat. 297) (as amended by subsection (c)) is 
amended by adding at the end the following:
    ``(d) Officers of Federal Reserve Banks.--
            ``(1) Definitions.--In this subsection:
                    ``(A) Covered person.--The term `covered person' 
                means--
                            ``(i) a president of a Federal Reserve 
                        bank;
                            ``(ii) a vice president of a Federal 
                        Reserve bank;
                            ``(iii) a director of a Federal Reserve 
                        bank; or
                            ``(iv) the spouse or dependent child of an 
                        individual described in clause (i), (ii), or 
                        (iii).
                    ``(B) Dependent child.--The term `dependent child' 
                means any individual who is--
                            ``(i) under the age of 19; and
                            ``(ii) a dependent of an individual 
                        described in clause (i), (ii), or (iii) of 
                        subparagraph (A) within the meaning of section 
                        152 of the Internal Revenue Code of 1986.
                    ``(C) Supervising ethics office.--The term 
                `supervising ethics office' means the Inspector General 
                of the Board of Governors of the Federal Reserve System 
                and the Bureau of Consumer Financial Protection.
            ``(2) Electronic filing and online public availability of 
        financial disclosure forms.--
                    ``(A) In general.--Subject to subparagraph (F), not 
                later than 1 year after the date of enactment of this 
                subsection, the supervising ethics office shall develop 
                a system to enable, pursuant to chapter 131 of title 5, 
                United States Code, through a database maintained on 
                the official website of the supervising ethics office--
                            ``(i) electronic filing of reports received 
                        from covered persons pursuant to that chapter; 
                        and
                            ``(ii) public access--
                                    ``(I) to each--
                                            ``(aa) financial disclosure 
                                        report filed by a covered 
                                        person;
                                            ``(bb) transaction 
                                        disclosure report filed by a 
                                        covered person pursuant to 
                                        section 13105(l) of title 5, 
                                        United States Code; and
                                            ``(cc) notice of extension, 
                                        amendment, or blind trust, with 
                                        respect to a report described 
                                        in item (aa) or (bb), pursuant 
                                        to that chapter; and
                                    ``(II) in a manner that--
                                            ``(aa) allows the public to 
                                        search, sort, and download data 
                                        contained in a report described 
                                        in subclause (I) by criteria 
                                        required to be reported, 
                                        including by filer name, asset, 
                                        transaction type, ticker 
                                        symbol, notification date, 
                                        amount of transaction, and date 
                                        of transaction;
                                            ``(bb) allows access 
                                        through an application 
                                        programming interface; and
                                            ``(cc) is fully compliant 
                                        with--

                                                    ``(AA) section 508 
                                                of the Rehabilitation 
                                                Act of 1973 (29 U.S.C. 
                                                794d); and

                                                    ``(BB) the most 
                                                recent Web Content 
                                                Accessibility 
                                                Guidelines (or 
                                                successor guidelines).

                    ``(B) Login.--For purposes of filings under 
                subparagraph (A)(ii), section 13107(b)(2) of title 5, 
                United States Code, shall not apply.
                    ``(C) Public availability.--The electronic 
                availability of filings under subparagraph (A)(ii) on 
                the official website of a supervising ethics office 
                shall be deemed to meet the public availability 
                requirement under section 13107(b)(1) of title 5, 
                United States Code.
                    ``(D) Filers covered.--Each covered person who is 
                required under chapter 131 of title 5, United States 
                Code, to file a financial disclosure report with a 
                supervising ethics office shall be able to file that 
                report electronically using the applicable system 
                developed under this paragraph.
                    ``(E) Extensions.--Each notice of an extension for 
                a financial disclosure covered by this paragraph shall 
                be made available electronically under subparagraph 
                (A)(ii), together with any related disclosure.
                    ``(F) Additional time.--The requirements of this 
                paragraph may be implemented after the date described 
                in subparagraph (A) if a supervising ethics office 
                identifies in writing to the relevant congressional 
                committees the additional time needed for that 
                implementation.''.
    (e) Applicability.--The amendments made by this section shall apply 
on and after the date that is 18 months after the date of enactment of 
this Act.
                                 <all>