Presidential Tax Transparency Act

Summary: Presidential Tax Transparency Act  This bill amends the Ethics in Government Act of 1978 to require the President and certain candidates for President to disclose federal income tax returns for the three most recent taxable years in reports filed with either the Office of Government Ethics (OGE) or the Federal Election Commission (FEC), in the case of a candidate.  The OGE or the FEC must make the disclosed tax returns publicly available after making appropriate redactions. If the income tax returns are not disclosed as required by this bill, the OGE or the FEC must request the returns from the Internal Revenue Service (IRS).  The bill amends the Internal Revenue Code to require the IRS, upon receiving a written request from the FEC or the OGE, to provide any income tax return that is required to be disclosed under this bill.  The bill also establishes civil and criminal penalties for failing to file or falsifying income tax returns that are required to be disclosed pursuant to this bill. 

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Presidential Tax Transparency Act''.

SEC. 2. DISCLOSURE OF TAX RETURNS BY PRESIDENTS AND CERTAIN 
              PRESIDENTIAL CANDIDATES.

    (a) In General.--Title I of the Ethics in Government Act of 1978 (5 
U.S.C. App.) is amended--
            (1) by inserting after section 102 the following:

``SEC. 102A. DISCLOSURE OF TAX RETURNS.

    ``(a) Definitions.--In this section--
            ``(1) the term `covered candidate' means an individual--
                    ``(A) required to file a report under section 
                101(c); and
                    ``(B) who is nominated by a major party as a 
                candidate for the office of President;
            ``(2) the term `covered individual' means--
                    ``(A) a President required to file a report under 
                subsection (a) or (d) of section 101; and
                    ``(B) an individual who occupies the office of the 
                President required to file a report under section 
                101(e);
            ``(3) the term `major party' has the meaning given the term 
        in section 9002 of the Internal Revenue Code of 1986; and
            ``(4) the term `income tax return' means, with respect to 
        any covered candidate or covered individual, any return (within 
        the meaning of section 6103(b) of the Internal Revenue Code of 
        1986) related to Federal income taxes, but does not include--
                    ``(A) information returns issued to persons other 
                than such covered candidate or covered individual; and
                    ``(B) declarations of estimated tax.
    ``(b) Disclosure.--
            ``(1) Covered individuals.--
                    ``(A) In general.--In addition to the information 
                described in subsections (a) and (b) of section 102, a 
                covered individual shall include in each report 
                required to be filed under this title a copy of the 
                income tax returns of the covered individual for the 3 
                most recent taxable years for which a return has been 
                filed with the Internal Revenue Service as of the date 
                on which the report is filed.
                    ``(B) Failure to disclose.--If an income tax return 
                is not disclosed under subparagraph (A), the Director 
                of the Office of Government Ethics shall submit to the 
                Secretary of the Treasury a request that the Secretary 
                of the Treasury provide the Director of the Office of 
                Government Ethics with a copy of the income tax return.
                    ``(C) Publicly available.--Each income tax return 
                submitted under this paragraph shall be filed with the 
                Director of the Office of Government Ethics and made 
                publicly available in the same manner as the 
                information described in subsections (a) and (b) of 
                section 102.
                    ``(D) Redaction of certain information.--Before 
                making any income tax return submitted under this 
                paragraph available to the public, the Director of the 
                Office of Government Ethics shall redact such 
                information as the Director of the Office of Government 
                Ethics, in consultation with the Secretary of the 
                Treasury (or a delegate of the Secretary), determines 
                appropriate.
            ``(2) Candidates.--
                    ``(A) In general.--Not later than 15 days after the 
                date on which a covered candidate is nominated, the 
                covered candidate shall amend the report filed by the 
                covered candidate under section 101(c) with the Federal 
                Election Commission to include a copy of the income tax 
                returns of the covered candidate for the 3 most recent 
                taxable years for which a return has been filed with 
                the Internal Revenue Service.
                    ``(B) Failure to disclose.--If an income tax return 
                is not disclosed under subparagraph (A) the Federal 
                Election Commission shall submit to the Secretary of 
                the Treasury a request that the Secretary of the 
                Treasury provide the Federal Election Commission with 
                the income tax return.
                    ``(C) Publicly available.--Each income tax return 
                submitted under this paragraph shall be filed with the 
                Federal Election Commission and made publicly available 
                in the same manner as the information described in 
                section 102(b).
                    ``(D) Redaction of certain information.--Before 
                making any income tax return submitted under this 
                paragraph available to the public, the Federal Election 
                Commission shall redact such information as the Federal 
                Election Commission, in consultation with the Secretary 
                of the Treasury (or a delegate of the Secretary) and 
                the Director of the Office of Government Ethics, 
                determines appropriate.
            ``(3) Special rule for sitting presidents.--Not later than 
        30 days after the date of enactment of this section, the 
        President shall submit to the Director of the Office of 
        Government Ethics a copy of the income tax returns described in 
        paragraph (1)(A).''; and
            (2) in section 104--
                    (A) in subsection (a)--
                            (i) in paragraph (1), in the first 
                        sentence, by inserting ``or any individual who 
                        knowingly and willfully falsifies or who 
                        knowingly and willfully fails to file an income 
                        tax return that such individual is required to 
                        disclose pursuant to section 102A'' before the 
                        period; and
                            (ii) in paragraph (2)(A)--
                                    (I) in clause (i), by inserting 
                                ``or falsify any income tax return that 
                                such person is required to disclose 
                                under section 102A'' before the 
                                semicolon; and
                                    (II) in clause (ii), by inserting 
                                ``or fail to file any income tax return 
                                that such person is required to 
                                disclose under section 102A'' before 
                                the period;
                    (B) in subsection (b), in the first sentence by 
                inserting ``or willfully failed to file or has 
                willfully falsified an income tax return required to be 
                disclosed under section 102A'' before the period;
                    (C) in subsection (c), by inserting ``or failing to 
                file or falsifying an income tax return required to be 
                disclosed under section 102A'' before the period; and
                    (D) in subsection (d)(1)--
                            (i) in the matter preceding subparagraph 
                        (A), by inserting ``or files an income tax 
                        return required to be disclosed under section 
                        102A'' after ``title''; and
                            (ii) in subparagraph (A), by inserting ``or 
                        such income tax return, as applicable,'' after 
                        ``report''.
    (b) Authority To Disclose Information.--
            (1) In general.--Section 6103(l) of the Internal Revenue 
        Code of 1986 is amended by adding at the end the following new 
        paragraph:
            ``(23) Disclosure of return information of presidents and 
        certain presidential candidates.--
                    ``(A) Disclosure of returns of presidents.--
                            ``(i) In general.--The Secretary shall, 
                        upon written request from the Director of the 
                        Office of Government Ethics pursuant to section 
                        102A(b)(1)(B) of the Ethics in Government Act 
                        of 1978, provide to officers and employees of 
                        the Office of Government Ethics a copy of any 
                        income tax return of the President which is 
                        required to be filed under section 102A of such 
                        Act.
                            ``(ii) Disclosure to public.--The Director 
                        of the Office of Government Ethics may disclose 
                        to the public the income tax return of any 
                        President which is required to be filed with 
                        the Director pursuant to section 102A of the 
                        Ethics in Government Act of 1978.
                    ``(B) Disclosure of returns of certain candidates 
                for president.--
                            ``(i) In general.--The Secretary shall, 
                        upon written request from the Chairman of the 
                        Federal Election Commission pursuant to section 
                        102A(b)(2)(B) of the Ethics in Government Act 
                        of 1978, provide to officers and employees of 
                        the Federal Election Commission copies of the 
                        applicable returns of any person who has been 
                        nominated as a candidate of a major party (as 
                        defined in section 9002(a)) for the office of 
                        President.
                            ``(ii) Disclosure to public.--The Federal 
                        Election Commission may disclose to the public 
                        applicable returns of any person who has been 
                        nominated as a candidate of a major party (as 
                        defined in section 9002(6)) for the office of 
                        President and which is required to be filed 
                        with the Commission pursuant to section 102A of 
                        the Ethics in Government Act.
                    ``(C) Applicable returns.--For purposes of this 
                paragraph, the term `applicable returns' means, with 
                respect to any candidate for the office of President, 
                income tax returns for the 3 most recent taxable years 
                for which a return has been filed as of the date of the 
                nomination.''.
            (2) Conforming amendments.--Section 6103(p)(4) of such 
        Code, in the matter preceding subparagraph (A) and in 
        subparagraph (F)(ii), is amended by striking ``or (22)'' and 
        inserting ``(22), or (23)'' each place it appears.