Bill > HR3779

This bill aims to enhance financial transparency and prevent conflicts of interest for government officials by introducing several key provisions. First, it requires senior government officials, including Members of Congress, federal employees, and Federal Reserve officials, to report any payments or financial benefits received from the federal government within 30-45 days of receipt. The bill establishes a $5,000 fine for failing to report such payments and mandates detailed reporting of the payment type, recipient, date, and amount. Second, the bill extends existing ethics rules to Federal Reserve bank officials, ensuring they are subject to the same reporting and disclosure requirements as other government employees. Third, the bill comprehensively bans certain government officials from holding, purchasing, or selling specific financial interests, including stocks, futures, commodities, and cryptocurrencies, with a 120-day period to divest such holdings after becoming a covered individual. The legislation also requires these officials to submit a compliance certificate and imposes significant financial penalties for violations, with fines of at least 10% of the value of any improperly held or traded financial interest. Finally, the bill mandates electronic filing and public accessibility of financial disclosure forms for Members of Congress, executive branch employees, judicial officers, and Federal Reserve bank officials, ensuring that the public can easily search, sort, and download these financial reports through user-friendly online databases.

Government Affairs

https://www.congress.gov/bill/119th-congress/house-bill/3779/all-info