Prevent Corrupting Foreign Influence Act

To amend title 18, United States Code, to prohibit corrupt foreign influence over the President, the Vice President, and their immediate family members, and for other purposes. 1. Short title This Act may be cited as the Prevent Corrupting Foreign Influence Act 2. Foreign influence over the President and Vice President (a) In general Chapter 11 227A. Foreign influence over the President and Vice President (a) Prohibition Except as provided in subsection (b), whoever, being a covered person or covered entity, knowingly— (1) accepts anything of value from a foreign state or foreign entity; or (2) receives anything of value from a foreign state or foreign entity, shall be fined under this title, imprisoned not more than 5 years, or both. (b) Exceptions Subsection (a) shall not apply— (1) in the case of any investment by a foreign state or entity in a mutual fund, which includes a covered entity in its portfolio; (2) in the case of any investment by a foreign state or entity in an asset held in a blind trust on behalf of a covered person; (3) in the case that the thing accepted or received is of minimal value, and any other thing or things accepted or received by such covered person or covered entity from such foreign state or foreign entity during that calendar year do not exceed minimal value; or (4) in any case in which the covered person acted in accordance with section 7342 of title 5 or the Mutual Education and Cultural Exchange Act of 1961 ( 22 U.S.C. 2451 (c) Definitions In this section: (1) The term covered person (2) The term covered entity (3) The term immediate family member (4) The term foreign entity (5) The term minimal value . (b) Clerical amendment The table of sections for chapter 11 227A. Foreign influence over the President and Vice President. . 3. Receipt and disposition of foreign gifts and decorations Section 7342(a)(1) of title 5, United States Code, is amended— (1) in subparagraph (F), by striking and (2) by inserting after subparagraph (G) the following: (H) a parent, parent-in-law, child, or sibling of the President or Vice President. .

Summary: Prevent Corrupting Foreign Influence Act This bill establishes new statutory restrictions on the receipt or acceptance of foreign gifts or things of value by the President, Vice President, or their immediate family members. First, the bill creates a new criminal offense to generally prohibit the President, Vice President, an immediate family member of the President or Vice President, or an entity in which any of these individuals has at least a 50% ownership interest from accepting or receiving anything of value from a foreign state or entity. A violator is subject to criminal penalties&#8212;a fine, a prison term of up to five years, or both. Second, the bill broadens the application of existing foreign gift restrictions on federal employees. Current law generally prohibits federal employees (including the President and Vice President) from receiving or soliciting foreign gifts. This bill further extends the restrictions to cover immediate family members of the President or Vice President. An immediate family member is a parent, parent-in-law, child, or sibling.