II 

115TH CONGRESS 

1ST SESSION S. 1026 

To amend the Federal Funding Accountability and Transparency Act of 

2006 to require full disclosure for entities receiving Federal funding. 

IN THE SENATE OF THE UNITED STATES 

MAY 3, 2017 

Mr. CASEY (for himself, Mr. WYDEN, Mr. WHITEHOUSE, Mrs. GILLIBRAND, 

Mr. UDALL, Mr. HEINRICH, Mr. CARPER, and Mr. BLUMENTHAL) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs 

A BILL 

To amend the Federal Funding Accountability and Transparency Act of 2006 to require full disclosure for entities 

receiving Federal funding. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Know Conflicts Act 

5 of 2017’’. 


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1 SEC. 2. FULL DISCLOSURE OF ENTITIES RECEIVING FED2 ERAL FUNDING. 

3 Section 2 of the Federal Funding Accountability and 

4 Transparency Act of 2006 (31 U.S.C. 6101 note) is 

5 amended— 

6 (1) in subsection (a)— 

7 (A) by redesignating— 

8 (i) paragraphs (6) through (8) as 

9 paragraphs (9) through (11), respectively; 

10 and 

11 (ii) paragraphs (1) through (4) as 

12 paragraphs (3) through (7), respectively; 

13 (B) by inserting before paragraph (2), as 

14 redesignated, the following: 

15 ‘‘(1) ACTIVE FINANCIAL CONFLICT OF INTER16 EST.—The term ‘active financial conflict of interest’ 

17 means any potential source of conflict that con18 stitutes a financial interest in or liability owed to an 

19 entity reported as receiving a Federal award under 

20 this Act. 

21 ‘‘(2) COVERED PERSON.—The term ‘covered 

22 person’ means the President, Vice President, the 

23 spouse of the President, the spouse of the Vice 

24 President, a dependent child of the President, or a 

25 dependent child of the Vice President.’’; and 


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1 (C) by inserting after paragraph (7), as re2 designated the following: 

3 ‘‘(8) POTENTIAL SOURCE OF CONFLICT.—The 

4 term ‘potential source of conflict’ means any finan5 cial interest or liability held by a covered person 

6 that— 

7 ‘‘(A)(i) is not a financial interest described 

8 in section 102(f)(8) of the Ethics in Govern9 ment Act of 1978 (5 U.S.C. App.); and 

10 ‘‘(ii) is included in a covered person’s fi11 nancial disclosure report required to be filed 

12 under section 101 of the Ethics in Government 

13 Act of 1978 (5 U.S.C. App.); or 

14 ‘‘(iii) is otherwise identified by the Director 

15 of the Office of Government Ethics as a poten16 tial source of conflict.’’; and 

17 (2) in subsection (b)(1)— 

18 (A) in subparagraph (F)(ii), by striking 

19 the period at the end and inserting a semicolon; 

20 (B) by redesignating subparagraph (G) as 

21 subparagraph (H); and 

22 (C) by inserting after subparagraph (F) 

23 the following: 

24 ‘‘(G) information indicating whether a 

25 Federal award has resulted in the existence of 


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1 one or more active financial conflicts of interest; 

2 and’’. 

3 SEC. 3. REPORT. 

4 Not later than November 30 of each year, the Bureau 

5 of the Fiscal Service of the Department of the Treasury 

6 shall submit to Congress a report that includes a com7 prehensive accounting of all new or ongoing active con8 flicts of interest, as defined in section 2 of the Federal 

9 Funding Accountability and Transparency Act of 2006 

10 (31 U.S.C. 6101 note), as amended by section 2 of this 

11 Act. 

Æ 


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