tory requirements, rules, or enforcement meas-
ures described under subparagraph (C). 
‘‘(3) TIMING.—Such public report shall be filed 
by January 31 of each year covering the prior cal-
endar year.’’. 
SEC. 3. REFORMS TO FINANCIAL DISCLOSURE REQUIRE-
MENTS. 
(a) 
UPDATED
INCOME
REPORTING
REQUIRE-
MENTS.—Section 102(a)(1)(B) of the Ethics in Govern-
ment Act of 1978 (5 U.S.C. App. 102(a)(1)(B)) is amend-
ed— 
(1) in clause (vii), by adding at the end ‘‘or’’; 
(2) in clause (viii), by striking ‘‘greater than 
$1,000,000’’ through ‘‘not more than $5,000,000, 
or’’ and inserting ‘‘greater than $1,000,000, in 
which case the filer shall provide an indication of the 
value of such income rounded to the nearest one 
hundred thousand dollars.’’; and 
(3) by striking clause (ix). 
(b) INCREASED TRANSPARENCY FOR INTERESTS IN 
PROPERTY, LIABILITIES, TRANSACTIONS, AND QUALI-
FIED BLIND TRUSTS.—Section 102(d)(1) of the Ethics in 
Government Act of 1978 (5 U.S.C. App. 102(d)(1)) is 
amended— 
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(1) in subparagraph (G), by adding at the end 
‘‘and’’; 
(2) by striking subparagraphs (H), (I), and (J); 
and 
(3) by inserting after subparagraph (G) the fol-
lowing subparagraph: 
‘‘(H) greater than $5,000,000, in which case 
the filer shall provide an indication of the value 
rounded to the nearest million dollars.’’. 
(c) 
ENDING
DISCLOSURE
LOOPHOLE.—Section 
102(e)(1) of the Ethics in Government Act of 1978 (5 
U.S.C. App. 102(e)(1)) is amended— 
(1) in the matter preceding subparagraph (A), 
by striking ‘‘Except as provided in the last sentence 
of this paragraph, each’’ and insert ‘‘Each’’; and 
(2) by striking subparagraph (F). 
(d) SWIFTER DISCLOSURE
OF CERTAIN TRANS-
ACTIONS.—Section 103 of the Ethics in Government Act 
of 1978 (5 U.S.C. App. 103) is amended— 
(1) in subsection (l), by striking ‘‘Not later 
than’’ and inserting ‘‘Except as provided in sub-
section (m), not later than’’; and 
(2) by adding at the end the following sub-
section: 
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‘‘(m) Not later than 14 days after receiving notifica-
tion of any transaction required to be reported under sec-
tion 102(a)(5)(B), where the value of the transaction is 
$15,000 or greater, but in no case later than 21 days after 
such transaction, the persons listed in subsection (l), if 
required to file a report under any subsection of section 
101, subject to any waivers and exclusions, shall file a re-
port of the transaction. In such case, the filer does not 
need to file an additional report of that transaction pursu-
ant to subsection (l).’’. 
(e) DISCLOSURE OF CRYPTOCURRENCY OR OTHER 
DIGITAL ASSETS.—Section 102(a) of the Ethics in Gov-
ernment Act of 1978 (5 U.S.C. App. 102(a)) is amend-
ed— 
(1) in paragraph (3), by inserting ‘‘For pur-
poses 
of 
this 
paragraph, 
‘property’ 
includes 
cryptocurrency or other digital assets that are issued 
or transferred using distributed ledger or blockchain 
technology including: virtual currencies, coins and 
tokens or any other digital asset specified by regula-
tions of a filer’s supervising ethics office.’’ after 
‘‘similar financial institution.’’; and 
(2) in paragraph (5)(B), by striking ‘‘other 
forms of securities.’’ and inserting ‘‘other forms of 
securities and in cryptocurrency or other digital as-
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sets that are issued or transferred using distributed 
ledger or blockchain technology including: virtual 
currencies, coins and tokens or any other digital 
asset specified by regulations of a filer’s supervising 
ethics office.’’. 
(f) MANDATORY
ELECTRONIC
FILING.—Section 
103(a) of the Ethics in Government Act of 1978 (5 U.S.C. 
App. 103(a)) is amended by striking ‘‘or in which he will 
serve.’’ and inserting ‘‘or in which the individual will serve 
using the system for electronically filing reports imple-
mented by that agency’s supervising ethics office.’’. 
(g) SUPERVISING ETHICS OFFICE.— 
(1) ADDED AUTHORITIES.—Section 111 of the 
Ethics in Government Act of 1978 (5 U.S.C. App. 
111) is amended— 
(A) by striking ‘‘The provisions of this 
title’’ and inserting ‘‘(a) The provisions of this 
title’’; 
(B) by striking ‘‘The Judicial Conference 
may delegate any authority it has under this 
title to an ethics committee established by the 
Judicial Conference.’’; 
(C) in paragraph (3) by striking ‘‘101(f).’’ 
and inserting ‘‘101(f). The Judicial Conference 
may delegate any authority it has under this 
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title to an ethics committee established by the 
Judicial Conference.’’; and 
(D) by adding after subsection (a), as re-
designated by this subsection, the following sub-
section: 
‘‘(b) Each supervising ethics office— 
‘‘(1) shall develop and make available forms for 
the reporting of information required by titles I or 
II, including modifications to the system for elec-
tronically filing reports implemented by that agen-
cy’s supervising ethics office, as necessary; 
‘‘(2) may issue rules or regulations imple-
menting titles I or II; 
‘‘(3) may establish procedures and promulgate 
forms; 
‘‘(4) may render advisory opinions interpreting 
titles I or II in the same manner as authorized by 
section 106(b)(7); 
‘‘(5) may impose and collect fees as provided in 
sections 104 and 203; 
‘‘(6) shall notify any individual within its juris-
diction of the changes to disclosure requirements, in-
cluding revisions to the forms and electronic filing 
system and any regulations issued by the supervising 
ethics office; and 
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‘‘(7) shall provide a written notice about the 
changes to titles I and II to any individual within its 
jurisdiction within 15 days of any such change.’’. 
(2) TIMING.—For purposes of section 111(b)(1) 
of the Ethics in Government Act of 1978, as added 
by paragraph (1), the supervising ethics office shall 
develop the first iteration of the form required under 
such section within 90 days of the date of enactment 
of the PORTFOLIO Act. 
(h) EFFECTIVE DATE.—The amendments made by 
this section shall apply to any report due beginning 120 
days after the date of the enactment of this Act, except 
that the amendments made by subsection (f) shall apply 
to any report due beginning 60 days after the date of the 
enactment of this Act. 
SEC. 4. NEW AND STRENGTHENED PENALTIES FOR NON-
COMPLIANCE. 
(a) PENALTIES FOR FAILURE TO TIMELY FILE RE-
PORTS; PUBLICATION
OF
FEES
ASSESSED.—Section 
104(d) of the Ethics in Government Act of 1978 (5 U.S.C. 
App. 104(d)) is amended— 
(1) in the matter following paragraph (1)(B), 
by striking ‘‘$200’’ and inserting ‘‘$500’’; 
(2) by redesignating paragraph (2) as para-
graph (5); 
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(3) by inserting after paragraph (1) the fol-
lowing: 
‘‘(2) For each subsequent 30-day period during which 
the individual has not filed a report required to be filed 
under this title, the individual shall be assessed an addi-
tional filing fee equal to— 
‘‘(A) $500; plus 
‘‘(B) if the report is required under section 
103(l), an amount equal to 10 percent of the actual 
value of the transactions that should have been dis-
closed on the report. 
‘‘(3) By January 31 of the calendar year following 
the enactment of the PORTFOLIO Act and in each year 
thereafter, the supervising ethics office shall adjust the 
$500 figure in paragraphs (1) and (2) in the same manner 
that civil monetary penalties are annually adjusted for in-
flation pursuant to section 4 of the Federal Civil Penalties 
Inflation Adjustment Act of 1990 (28 U.S.C. 2461 note). 
‘‘(4) With respect to a filing fee required to be paid 
under this subsection, the supervising ethics office shall 
make available, on a publicly accessible website, the fol-
lowing information: 
‘‘(A) The name and occupation of the individual 
required to pay such fee. 
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‘‘(B) The amount of each such fee that such in-
dividual is required to pay. 
‘‘(C) The date on which the supervising ethics 
office assessed each such fee described in subpara-
graph (B). 
‘‘(D) An indication as to whether such indi-
vidual has paid each amount described in subpara-
graph (B).’’; and 
(4) by adding after paragraph (5), as redesig-
nated by this subsection, the following paragraph: 
‘‘(6) With respect to a waiver granted under para-
graph (5), the supervising ethics office shall make avail-
able the name and occupation of each recipient of such 
waiver on a publicly accessible website.’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply for any report due beginning 30 
days after the date of enactment of this Act. 
Æ 
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