[Congressional Record Volume 164, Number 96 (Monday, June 11, 2018)]
[Senate]
[Page S3687]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2676. Mr. MENENDEZ (for himself, Mr. Nelson, Mr. Warner, Mr. 
Wyden, Ms. Warren, Mr. Udall, and Mrs. Murray) submitted an amendment 
intended to be proposed to amendment SA 2282 submitted by Mr. Inhofe 
(for himself and Mr. McCain) and intended to be proposed to the bill 
H.R. 5515, to authorize appropriations for fiscal year 2019 for 
military activities of the Department of Defense, for military 
construction, and for defense activities of the Department of Energy, 
to prescribe military personnel strengths for such fiscal year, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the end of subtitle F of title X, add the following:

     SEC. 1066. DISCLOSURE OF PRIVATE BUSINESS TRANSACTIONS WITH 
                   FOREIGN PERSONS.

       Section 721 of the Defense Production Act of 1950 (50 
     U.S.C. 4565) is amended by adding at the end the following:
       ``(o) Disclosure of Private Business Transactions With 
     Foreign Persons.--
       ``(1) In general.--Not less frequently than every 90 days, 
     each covered officer shall disclose to the public any covered 
     private business transaction during the preceding 90 days 
     between--
       ``(A)(i) the covered officer;
       ``(ii) the spouse of the covered officer; or
       ``(iii) a covered private business with respect to the 
     covered officer; and
       ``(B) a foreign person.
       ``(2) Matters to be included.--For any private business 
     transaction disclosed under paragraph (1), the covered 
     officer shall include in the disclosure the following:
       ``(A) The name of the foreign person with which the 
     transaction was conducted.
       ``(B) The amount of any funds received from or owed to the 
     foreign person.
       ``(C) The date of the transaction.
       ``(D) A detailed summary of the purpose of the transaction.
       ``(E) The name of any United States entity through which 
     the transaction was processed or funds relating to the 
     transaction were transferred.
       ``(3) Publication.--Any disclosure made under paragraph (1) 
     shall be made available on the publicly available internet 
     website of the Department of the Treasury.
       ``(4) Definitions.--In this subsection:
       ``(A) Covered officer.--The term `covered officer' means 
     the President, the Vice President, and each member of the 
     Committee.
       ``(B) Covered private business.--The term `covered private 
     business'--
       ``(i) means--

       ``(I) a sole proprietorship or business entity in which a 
     covered officer or the spouse of the covered officer holds an 
     ownership interest; and
       ``(II) an entity in which--

       ``(aa) a covered officer holds a position required to be 
     reported under section 102(a)(6) of the Ethics in Government 
     Act of 1978 (5 U.S.C. App.); or
       ``(bb) the spouse of the covered officer holds a position 
     that would be required to be reported under section 102(a)(6) 
     of the Ethics in Government Act of 1978 (5 U.S.C. App.) if it 
     were a position held by the covered officer;
       ``(ii) includes any private entity for which the covered 
     officer is required to report an ownership interest of the 
     covered officer or the spouse of the covered officer under 
     section 102(a)(3) of the Ethics in Government Act of 1978 (5 
     U.S.C. App.); and
       ``(iii) does not include--

       ``(I) a publicly traded entity; or
       ``(II) an entity described in clause (i)(I) or (ii) if the 
     ownership interest is held in a qualified blind trust, as 
     defined in section 101(f)(3) of the Ethics in Government Act 
     of 1978 (5 U.S.C. App.).

       ``(C) Covered private business transaction.--The term 
     `covered private business transaction' means--
       ``(i) the exchange of anything with a value of more than 
     $200; and
       ``(ii) incurring a liability that would be required to be 
     reported under section 102(a)(4) of the Ethics in Government 
     Act of 1978 (5 U.S.C. App.) if it were a liability of the 
     covered officer.''.
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