3217 
ø‘‘(b) With respect to any vacancy that ex-
ists during the 60-day period beginning on an 
inauguration day, except where the person 
swearing or affirming the oath of office was 
the President on the date preceding the date 
of swearing or affirming such oath of office, 
the 210-day period under section 3346 or 3348 
shall be deemed to begin on the later of the 
date occurring— 
ø‘‘(1) 90 days after such transitional 
inauguration day; or 
ø‘‘(2) 90 days after the date on which 
the vacancy occurs. 
ø‘‘(c) With respect to any vacancy in any 
specified national security position that exists 
during the 60-day period beginning on an in-
auguration day, the requirements of subpara-
graphs (A) and (B) of section 3345(a)(3) shall 
not apply.’’. 
øSEC. 5043. PUBLIC FINANCIAL DISCLOSURE FOR THE IN-
TELLIGENCE COMMUNITY. 
ø(a) IN GENERAL.—The Ethics in Govern-
ment Act of 1978 (5 U.S.C. App.) is amended 
by inserting before title IV the following:
3218 
ø‘‘TITLE III—INTELLIGENCE PER-
SONNEL FINANCIAL DISCLO-
SURE REQUIREMENTS 
ø‘‘SEC. 301. PERSONS REQUIRED TO FILE. 
ø‘‘(a) Within 30 days of assuming the posi-
tion of an officer or employee described in 
subsection (e), an individual shall file a report 
containing the information described in sec-
tion 302(b) unless the individual has left an-
other position described in subsection (e) 
within 30 days prior to assuming such new po-
sition or has already filed a report under this 
title with respect to nomination for the new 
position or as a candidate for the position. 
ø‘‘(b)(1) Within 5 days of the transmittal 
by the President to the Senate of the nomina-
tion of an individual to a position in the exec-
utive branch, appointment to which requires 
the advice and consent of the Senate, such in-
dividual shall file a report containing the in-
formation described in section 302(b). Such 
individual shall, not later than the date of the 
first hearing to consider the nomination of 
such individual, make current the report filed 
pursuant to this paragraph by filing the infor-
3219 
mation required by section 302(a)(1)(A) with 
respect to income and honoraria received as 
of the date which occurs 5 days before the 
date of such hearing. Nothing in this Act shall 
prevent any congressional committee from re-
questing, as a condition of confirmation, any 
additional financial information from any 
Presidential nominee whose nomination has 
been referred to that committee. 
ø‘‘(2) An individual whom the President or 
the President-elect has publicly announced he 
intends to nominate to a position may file the 
report required by paragraph (1) at any time 
after that public announcement, but not later 
than is required under the first sentence of 
such paragraph. 
ø‘‘(c) Any individual who is an officer or 
employee described in subsection (e) during 
any calendar year and performs the duties of 
his position or office for a period in excess of 
60 days in that calendar year shall file on or 
before May 15 of the succeeding year a report 
containing the information described in sec-
tion 302(a).
3220 
ø‘‘(d) Any individual who occupies a posi-
tion described in subsection (e) shall, on or 
before the 30th day after termination of em-
ployment in such position, file a report con-
taining the information described in section 
302(a) covering the preceding calendar year if 
the report required by subsection (c) has not 
been filed and covering the portion of the cal-
endar year in which such termination occurs 
up to the date the individual left such office 
or position, unless such individual has accept-
ed employment in or takes the oath of office 
for another position described in subsection 
(e) or section 101(f). 
ø‘‘(e) The officers and employees referred 
to in subsections (a), (c), and (d) are those em-
ployed in or under— 
ø‘‘(1) the Office of the National Intel-
ligence Director; or 
ø‘‘(2) an element of the intelligence 
community, as defined in section 3(4) of 
the National Security Act of 1947 (50 
U.S.C. 401a(4)). 
ø‘‘(f)(1) Reasonable extensions of time for 
filing any report may be granted under proce-
3221 
dures prescribed by the Office of Government 
Ethics, but the total of such extensions shall 
not exceed 90 days. 
ø‘‘(2)(A) In the case of an individual who 
is serving in the Armed Forces, or serving in 
support of the Armed Forces, in an area while 
that area is designated by the President by 
Executive order as a combat zone for pur-
poses of section 112 of the Internal Revenue 
Code of 1986, the date for the filing of any re-
port shall be extended so that the date is 180 
days after the later of— 
ø‘‘(i) the last day of the individual’s 
service in such area during such des-
ignated period; or 
ø‘‘(ii) the last day of the individual’s 
hospitalization as a result of injury re-
ceived or disease contracted while serv-
ing in such area. 
ø‘‘(B) The Office of Government Ethics, in 
consultation with the Secretary of Defense, 
may prescribe procedures under this para-
graph. 
ø‘‘(g) The Director of the Office of Govern-
ment Ethics may grant a publicly available re-
3222 
quest for a waiver of any reporting require-
ment under this title with respect to an indi-
vidual if the Director determines that— 
ø‘‘(1) such individual is not a full-time 
employee of the Government; 
ø‘‘(2) such individual is able to pro-
vide special services needed by the Gov-
ernment; 
ø‘‘(3) it is unlikely that such individ-
ual’s outside employment or financial in-
terests will create a conflict of interest; 
and 
ø‘‘(4) public financial disclosure by 
such individual is not necessary in the 
circumstances. 
ø‘‘(h)(1) The Director of the Office of Gov-
ernment Ethics may establish procedures 
under which an incoming individual can take 
actions to avoid conflicts of interest while in 
office if the individual has holdings or other 
financial interests that raise conflict con-
cerns. 
ø‘‘(2) The actions referenced in paragraph 
(1) may include, but are not limited to, signed 
agreements with the individual’s employing
3223 
agency, the establishment of blind trusts, or 
requirements for divesting interests or hold-
ings while in office. 
ø‘‘SEC. 302. CONTENTS OF REPORTS. 
ø‘‘(a) Each report filed pursuant to section 
301 (c) and (d) shall include a full and com-
plete statement with respect to the following: 
ø‘‘(1)(A) The source, description, and 
category of value of income (other than 
income referred to in subparagraph (B)) 
from any source (other than from current 
employment by the United States Govern-
ment), received during the preceding cal-
endar year, aggregating more than $500 
in value, except that honoraria received 
during Government service by an officer 
or employee shall include, in addition to 
the source, the exact amount and the 
date it was received. 
ø‘‘(B) The source and description of 
investment income which may include 
but is not limited to dividends, rents, in-
terest, and capital gains, received during 
the preceding calendar year which ex-
ceeds $500 in amount or value.
3224 
ø‘‘(C) The categories for reporting the 
amount for income covered in subpara-
graphs (A) and (B) are— 
ø‘‘(i) greater than $500 but not 
more than $20,000; 
ø‘‘(ii) greater than $20,000 but not 
more than $100,000; 
ø‘‘(iii) greater than $100,000 but 
not more than $1,000,000; 
ø‘‘(iv) greater than $1,000,000 but 
not more than $2,500,000; and 
ø‘‘(v) greater than $2,500,000. 
ø‘‘(2)(A) The identity of the source, a 
brief description, and the value of all 
gifts aggregating more than the minimal 
value as established by section 7342(a)(5) 
of title 5, United States Code, or $250, 
whichever is greater, received from any 
source other than a relative of the report-
ing individual during the preceding cal-
endar year, except that any food, lodging, 
or entertainment received as personal 
hospitality of an individual need not be 
reported, and any gift with a fair market 
value of $100 or less, as adjusted at the
3225 
same time and by the same percentage as 
the minimal value is adjusted, need not 
be aggregated for purposes of this sub-
paragraph. 
ø‘‘(B) The identity of the source and a 
brief description (including dates of trav-
el and nature of expenses provided) of re-
imbursements received from any source 
aggregating more than the minimal value 
as established by section 7342(a)(5) of 
title 5, United States Code, or $250, 
whichever is greater and received during 
the preceding calendar year. 
ø‘‘(3) The identity and category of 
value of any interest in property held 
during the preceding calendar year in a 
trade or business, or for investment or 
the production of income, which has a 
fair market value which exceeds $5,000 as 
of the close of the preceding calendar 
year, excluding any personal liability 
owed to the reporting individual by a 
spouse, or by a parent, brother, sister, or 
child of the reporting individual or of the 
reporting individual’s spouse, or any de-
3226 
posit accounts aggregating $100,000 or 
less in a financial institution, or any Fed-
eral Government securities aggregating 
$100,000 or less. 
ø‘‘(4) The identity and category of 
value of the total liabilities owed to any 
creditor other than a spouse, or a parent, 
brother, sister, or child of the reporting 
individual or of the reporting individual’s 
spouse which exceed $20,000 at any time 
during the preceding calendar year, ex-
cluding— 
ø‘‘(A) any mortgage secured by 
real property which is a personal res-
idence of the reporting individual or 
his spouse; and 
ø‘‘(B) any loan secured by a per-
sonal motor vehicle, household fur-
niture, or appliances, which loan does 
not exceed the purchase price of the 
item which secures it. 
With respect to revolving charge ac-
counts, only those with an outstanding li-
ability which exceeds $20,000 as of the 
close of the preceding calendar year need
3227 
be reported under this paragraph. Not-
withstanding the preceding sentence, in-
dividuals required to file pursuant to sec-
tion 301(b) shall also report the aggregate 
sum of the outstanding balances of all re-
volving charge accounts as of any date 
that is within 30 days of the date of filing 
if the aggregate sum of those balances ex-
ceeds $20,000. 
ø‘‘(5) Except as provided in this para-
graph, a brief description of any real 
property, other than property used solely 
as a personal residence of the reporting 
individual or his spouse, or stocks, bonds, 
commodities futures, and other forms of 
securities, if— 
ø‘‘(A) 
purchased, 
sold, 
or 
ex-
changed during the preceding cal-
endar year; 
ø‘‘(B) the value of the transaction 
exceeded $5,000; and 
ø‘‘(C) the property or security is 
not already required to be reported 
as a source of income pursuant to
3228 
paragraph (1)(B) or as an asset pursu-
ant to paragraph (3). 
ø‘‘(6)(A) The identity of all positions 
held on or before the date of filing during 
the current calendar year (and, for the 
first report filed by an individual, during 
the 1-year period preceding such cal-
endar year) as an officer, director, trust-
ee, partner, proprietor, representative, 
employee, or consultant of any corpora-
tion, company, firm, partnership, or other 
business enterprise, any nonprofit orga-
nization, any labor organization, or any 
educational or other institution other 
than the United States Government. This 
subparagraph shall not require the re-
porting of positions held in any religious, 
social, fraternal, or political entity and 
positions solely of an honorary nature. 
ø‘‘(B) If any person, other than a per-
son reported as a source of income under 
paragraph (1)(A) or the United States 
Government, paid a nonelected reporting 
individual compensation in excess of 
$25,000 in the calendar year in which, or
3229 
the calendar year prior to the calendar 
year in which, the individual files his 
first report under this title, the indi-
vidual shall include in the report— 
ø‘‘(i) the identity of each source of 
such compensation; and 
ø‘‘(ii) a brief description of the na-
ture of the duties performed or serv-
ices rendered by the reporting indi-
vidual for each such source. 
The preceding sentence shall not require 
any individual to include in such report 
any information which is considered con-
fidential as a result of a privileged rela-
tionship, established by law, between 
such individual and any person or any in-
formation which the person for whom the 
services are provided has a reasonable 
expectation of privacy, nor shall it re-
quire an individual to report any infor-
mation with respect to any person for 
whom services were provided by any firm 
or association of which such individual 
was a member, partner, or employee un-
3230 
less such individual was directly involved 
in the provision of such services. 
ø‘‘(7) A description of parties to and 
terms of any agreement or arrangement 
with respect to (A) future employment; 
(B) a leave of absence during the period 
of the reporting individual’s Government 
service; (C) continuation of payments by 
a former employer other than the United 
States Government; and (D) continuing 
participation in an employee welfare or 
benefit plan maintained by a former em-
ployer. The description of any formal 
agreement for future employment shall 
include the date on which that agreement 
was entered into. 
ø‘‘(8) The category of the total cash 
value of any interest of the reporting in-
dividual in a qualified blind trust. 
ø‘‘(b)(1) Each report filed pursuant to sub-
sections (a) and (b) of section 301 shall in-
clude a full and complete statement with re-
spect to the information required by—
3231 
ø‘‘(A) paragraphs (1) and (6) of sub-
section (a) for the year of filing and the 
preceding calendar year, 
ø‘‘(B) paragraphs (3) and (4) of sub-
section (a) as of the date specified in the 
report but which is less than 31 days be-
fore the filing date, and 
ø‘‘(C) paragraph (7) of subsection (a) 
as of the filing date but for periods de-
scribed in such paragraph. 
ø‘‘(2)(A) In lieu of filling out 1 or more 
schedules of a financial disclosure form, an 
individual may supply the required informa-
tion in an alternative format, pursuant to ei-
ther rules adopted by the Office of Govern-
ment Ethics or pursuant to a specific written 
determination by the Director of the Office of 
Government Ethics for a reporting individual. 
ø‘‘(B) In lieu of indicating the category of 
amount or value of any item contained in any 
report filed under this title, a reporting indi-
vidual may indicate the exact dollar amount 
of such item. 
ø‘‘(c)(1) In the case of any individual re-
ferred to in section 301(c), the Office of Gov-
3232 
ernment Ethics may by regulation require a 
reporting period to include any period in 
which the individual served as an officer or 
employee described in section 301(e) and the 
period would not otherwise be covered by any 
public report filed pursuant to this title. 
ø‘‘(2) In the case of any individual referred 
to in section 301(d), any reference to the pre-
ceding calendar year shall be considered also 
to include that part of the calendar year of fil-
ing up to the date of the termination of em-
ployment. 
ø‘‘(d)(1) The categories for reporting the 
amount or value of the items covered in sub-
section (a)(3) are— 
ø‘‘(A) greater than $5,000 but not 
more than $15,000; 
ø‘‘(B) greater than $15,000 but not 
more than $100,000; 
ø‘‘(C) greater than $100,000 but not 
more than $1,000,000; 
ø‘‘(D) greater than $1,000,000 but not 
more than $2,500,000; and 
ø‘‘(E) greater than $2,500,000.
3233 
ø‘‘(2) For the purposes of subsection (a)(3) 
if the current value of an interest in real prop-
erty (or an interest in a real estate partner-
ship) is not ascertainable without an ap-
praisal, an individual may list (A) the date of 
purchase and the purchase price of the inter-
est in the real property, or (B) the assessed 
value of the real property for tax purposes, 
adjusted to reflect the market value of the 
property used for the assessment if the as-
sessed value is computed at less than 100 per-
cent of such market value, but such indi-
vidual shall include in his report a full and 
complete description of the method used to 
determine such assessed value, instead of 
specifying a category of value pursuant to 
paragraph (1). If the current value of any 
other item required to be reported under sub-
section (a)(3) is not ascertainable without an 
appraisal, such individual may list the book 
value of a corporation whose stock is not pub-
licly traded, the net worth of a business part-
nership, the equity value of an individually 
owned business, or with respect to other hold-
ings, any recognized indication of value, but
3234 
such individual shall include in his report a 
full and complete description of the method 
used in determining such value. In lieu of any 
value referred to in the preceding sentence, 
an individual may list the assessed value of 
the item for tax purposes, adjusted to reflect 
the market value of the item used for the as-
sessment if the assessed value is computed at 
less than 100 percent of such market value, 
but a full and complete description of the 
method used in determining such assessed 
value shall be included in the report. 
ø‘‘(3) The categories for reporting the 
amount or value of the items covered in para-
graphs (4) and (8) of subsection (a) are— 
ø‘‘(A) greater than $20,000 but not 
more than $100,000; 
ø‘‘(B) greater than $100,000 but not 
more than $500,000; 
ø‘‘(C) greater than $500,000 but not 
more than $1,000,000; and 
ø‘‘(D) greater than $1,000,000. 
ø‘‘(e)(1) Except as provided in subpara-
graph (F), each report required by section 301 
shall also contain information listed in para-
3235 
graphs (1) through (5) of subsection (a) re-
specting the spouse or dependent child of the 
reporting individual as follows: 
ø‘‘(A) The sources of earned income 
earned by a spouse including honoraria 
which exceed $500 except that, with re-
spect to earned income if the spouse is 
self-employed in business or a profession, 
only the nature of such business or pro-
fession need be reported. 
ø‘‘(B) All information required to be 
reported in subsection (a)(1)(B) with re-
spect to investment income derived by a 
spouse or dependent child. 
ø‘‘(C) In the case of any gifts received 
by a spouse or dependent child which are 
not received totally independent of the 
relationship of the spouse or dependent 
child to the reporting individual, the 
identity of the source and a brief descrip-
tion of gifts of transportation, lodging, 
food, or entertainment and a brief de-
scription and the value of other gifts. 
ø‘‘(D) In the case of any reimburse-
ments received by a spouse or dependent
3236 
child which are not received totally inde-
pendent of the relationship of the spouse 
or dependent child to the reporting indi-
vidual, the identity of the source and a 
brief description of each such reimburse-
ment. 
ø‘‘(E) In the case of items described in 
paragraphs (3) through (5) of subsection 
(a), all information required to be re-
ported under these paragraphs other 
than items which the reporting indi-
vidual certifies (i) represent the spouse’s 
or dependent child’s sole financial inter-
est or responsibility and which the re-
porting individual has no knowledge of, 
(ii) are not in any way, past or present, 
derived from the income, assets, or activi-
ties of the reporting individual, and (iii) 
that he neither derives, nor expects to de-
rive, any financial or economic benefit. 
ø‘‘(F) Reports required by subsections 
(a), (b), and (c) of section 301 shall, with 
respect to the spouse and dependent 
child of the reporting individual, only
3237 
contain information listed in paragraphs 
(1), (3), and (4) of subsection (a). 
ø‘‘(2) No report shall be required with re-
spect to a spouse living separate and apart 
from the reporting individual with the inten-
tion of terminating the marriage or providing 
for permanent separation, or with respect to 
any income or obligations of an individual 
arising from the dissolution of his marriage or 
the permanent separation from his spouse. 
ø‘‘(f)(1) Except as provided in paragraph 
(2), each reporting individual shall report the 
information required to be reported pursuant 
to subsections (a), (b), and (c) with respect to 
the holdings of and the income from a trust 
or other financial arrangement from which 
income is received by, or with respect to 
which a beneficial interest in principal or in-
come is held by, such individual, his spouse, 
or any dependent child. 
ø‘‘(2) A reporting individual need not re-
port the holdings of or the source of income 
from any of the holdings of— 
ø‘‘(A) any qualified blind trust (as de-
fined in paragraph (3));
3238 
ø‘‘(B) a trust— 
ø‘‘(i) which was not created di-
rectly by such individual, his spouse, 
or any dependent child, and 
ø‘‘(ii) the holdings or sources of 
income of which such individual, his 
spouse, and any dependent child have 
no knowledge; or 
ø‘‘(C) an entity described under the 
provisions of paragraph (8), but such in-
dividual shall report the category of the 
amount of income received by him, his 
spouse, or any dependent child from the 
entity under subsection (a)(1)(B). 
ø‘‘(3) For purposes of this subsection, the 
term ‘qualified blind trust’ includes any trust 
in which a reporting individual, his spouse, or 
any minor or dependent child has a beneficial 
interest in the principal or income, and which 
meets the following requirements: 
ø‘‘(A)(i) The trustee of the trust and 
any other entity designated in the trust 
instrument to perform fiduciary duties is 
a financial institution, an attorney, a cer-
3239 
tified public accountant, a broker, or an 
investment advisor who— 
ø‘‘(I) is independent of and not as-
sociated with any interested party so 
that the trustee or other person can-
not be controlled or influenced in the 
administration of the trust by any in-
terested party; 
ø‘‘(II) is not and has not been an 
employee of or affiliated with any in-
terested party and is not a partner of, 
or involved in any joint venture or 
other investment with, any interested 
party; and 
ø‘‘(III) is not a relative of any in-
terested party. 
ø‘‘(ii) Any officer or employee of a 
trustee or other entity who is involved in 
the management or control of the trust— 
ø‘‘(I) is independent of and not as-
sociated with any interested party so 
that such officer or employee cannot 
be controlled or influenced in the ad-
ministration of the trust by any inter-
ested party;
3240 
ø‘‘(II) is not a partner of, or in-
volved in any joint venture or other 
investment 
with, 
any 
interested 
party; and 
ø‘‘(III) is not a relative of any in-
terested party. 
ø‘‘(B) Any asset transferred to the 
trust by an interested party is free of any 
restriction with respect to its transfer or 
sale unless such restriction is expressly 
approved by the Office of Government 
Ethics. 
ø‘‘(C) The trust instrument which es-
tablishes the trust provides that— 
ø‘‘(i) except to the extent provided 
in subparagraph (B), the trustee in 
the exercise of his authority and dis-
cretion to manage and control the as-
sets of the trust shall not consult or 
notify any interested party; 
ø‘‘(ii) the trust shall not contain 
any asset the holding of which by an 
interested party is prohibited by any 
law or regulation;
3241 
ø‘‘(iii) the trustee shall promptly 
notify the reporting individual and 
the 
Office 
of 
Government 
Ethics 
when the holdings of any particular 
asset transferred to the trust by any 
interested party are disposed of or 
when the value of such holding is less 
than $1,000; 
ø‘‘(iv) the trust tax return shall be 
prepared by the trustee or his des-
ignee, and such return and any infor-
mation relating thereto (other than 
the trust income summarized in ap-
propriate 
categories 
necessary 
to 
complete an interested party’s tax re-
turn), shall not be disclosed to any in-
terested party; 
ø‘‘(v) an interested party shall not 
receive any report on the holdings 
and sources of income of the trust, 
except a report at the end of each cal-
endar quarter with respect to the 
total cash value of the interest of the 
interested party in the trust or the 
net income or loss of the trust or any
3242 
reports necessary to enable the inter-
ested party to complete an individual 
tax return required by law or to pro-
vide the information required by sub-
section (a)(1) of this section, but such 
report shall not identify any asset or 
holding; 
ø‘‘(vi) except for communications 
which solely consist of requests for 
distributions of cash or other unspec-
ified assets of the trust, there shall be 
no direct or indirect communication 
between the trustee and an interested 
party with respect to the trust unless 
such communication is in writing and 
unless it relates only (I) to the gen-
eral financial interest and needs of 
the interested party (including, but 
not limited to, an interest in maxi-
mizing income or long-term capital 
gain), (II) to the notification of the 
trustee of a law or regulation subse-
quently applicable to the reporting 
individual which prohibits the inter-
ested party from holding an asset,
3243 
which notification directs that the 
asset not be held by the trust, or (III) 
to directions to the trustee to sell all 
of an asset initially placed in the 
trust by an interested party which in 
the determination of the reporting in-
dividual creates a conflict of interest 
or the appearance thereof due to the 
subsequent assumption of duties by 
the reporting individual (but nothing 
herein shall require any such direc-
tion); and 
ø‘‘(vii) the interested parties shall 
make no effort to obtain information 
with respect to the holdings of the 
trust, including obtaining a copy of 
any trust tax return filed or any in-
formation relating thereto except as 
otherwise 
provided 
in 
this 
sub-
section. 
ø‘‘(D) The proposed trust instrument 
and the proposed trustee is approved by 
the Office of Government Ethics. 
ø‘‘(E) For purposes of this subsection, 
‘interested party’ means a reporting indi-
3244 
vidual, his spouse, and any minor or de-
pendent child; ‘broker’ has the meaning 
set forth in section 3(a)(4) of the Securi-
ties and Exchange Act of 1934 (15 U.S.C. 
78c(a)(4)); and ‘investment adviser’ in-
cludes any investment adviser who, as 
determined under regulations prescribed 
by the supervising ethics office, is gen-
erally involved in his role as such an ad-
viser in the management or control of 
trusts. 
ø‘‘(4)(A) An asset placed in a trust by an 
interested party shall be considered a finan-
cial interest of the reporting individual, for 
the purposes of any applicable conflict of in-
terest statutes, regulations, or rules of the 
Federal Government (including section 208 of 
title 18, United States Code), until such time 
as the reporting individual is notified by the 
trustee that such asset has been disposed of, 
or has a value of less than $1,000. 
ø‘‘(B)(i) The provisions of subparagraph 
(A) shall not apply with respect to a trust cre-
ated for the benefit of a reporting individual, 
or the spouse, dependent child, or minor child
3245 
of such a person, if the Office of Government 
Ethics finds that— 
ø‘‘(I) the assets placed in the trust 
consist of a well-diversified portfolio of 
readily marketable securities; 
ø‘‘(II) none of the assets consist of se-
curities of entities having substantial ac-
tivities in the area of the reporting indi-
vidual’s primary area of responsibility; 
ø‘‘(III) the trust instrument prohibits 
the trustee, notwithstanding the provi-
sions of paragraph (3)(C) (iii) and (iv), 
from making public or informing any in-
terested party of the sale of any securi-
ties; 
ø‘‘(IV) the trustee is given power of 
attorney, notwithstanding the provisions 
of paragraph (3)(C)(v), to prepare on be-
half of any interested party the personal 
income tax returns and similar returns 
which may contain information relating 
to the trust; and 
ø‘‘(V) except as otherwise provided in 
this paragraph, the trust instrument pro-
vides (or in the case of a trust which by
3246 
its terms does not permit amendment, the 
trustee, the reporting individual, and any 
other interested party agree in writing) 
that the trust shall be administered in ac-
cordance with the requirements of this 
subsection and the trustee of such trust 
meets the requirements of paragraph 
(3)(A). 
ø‘‘(ii) In any instance covered by subpara-
graph (B) in which the reporting individual is 
an individual whose nomination is being con-
sidered by a congressional committee, the re-
porting individual shall inform the congres-
sional committee considering his nomination 
before or during the period of such individ-
ual’s confirmation hearing of his intention to 
comply with this paragraph. 
ø‘‘(5)(A) The reporting individual shall, 
within 30 days after a qualified blind trust is 
approved by the Office of Government Ethics, 
file with such office a copy of— 
ø‘‘(i) the executed trust instrument of 
such trust (other than those provisions 
which relate to the testamentary disposi-
tion of the trust assets), and
3247 
ø‘‘(ii) a list of the assets which were 
transferred to such trust, including the 
category of value of each asset as deter-
mined under subsection (d). 
This subparagraph shall not apply with re-
spect to a trust meeting the requirements for 
being considered a qualified blind trust under 
paragraph (7). 
ø‘‘(B) The reporting individual shall, with-
in 30 days of transferring an asset (other than 
cash) to a previously established qualified 
blind trust, notify the Office of Government 
Ethics of the identity of each such asset and 
the category of value of each asset as deter-
mined under subsection (d) of this section. 
ø‘‘(C) Within 30 days of the dissolution of 
a qualified blind trust, a reporting individual 
shall notify the Office of Government Ethics 
of such dissolution. 
ø‘‘(D) Documents filed under subpara-
graphs (A), (B), and (C) and the lists provided 
by the trustee of assets placed in the trust by 
an interested party which have been sold 
shall be made available to the public in the 
same manner as a report is made available
3248 
under section 305 and the provisions of that 
section shall apply with respect to such docu-
ments and lists. 
ø‘‘(E) A copy of each written communica-
tion with respect to the trust under para-
graph (3)(C)(vi) shall be filed by the person 
initiating the communication with the Office 
of Government Ethics within 5 days of the 
date of the communication. 
ø‘‘(6)(A) A trustee of a qualified blind trust 
shall not knowingly and willfully, or neg-
ligently, (i) disclose any information to an in-
terested party with respect to such trust that 
may not be disclosed under paragraph (3); (ii) 
acquire any holding the ownership of which 
is prohibited by the trust instrument; (iii) so-
licit advice from any interested party with re-
spect to such trust, which solicitation is pro-
hibited by paragraph (3) or the trust agree-
ment; or (iv) fail to file any document re-
quired by this subsection. 
ø‘‘(B) A reporting individual shall not 
knowingly and willfully, or negligently, (i) so-
licit or receive any information with respect 
to a qualified blind trust of which he is an in-
3249 
terested party that may not be disclosed 
under paragraph (3)(C) or (ii) fail to file any 
document required by this subsection. 
ø‘‘(C)(i) The Attorney General may bring a 
civil action in any appropriate United States 
district court against any individual who 
knowingly and willfully violates the provi-
sions of subparagraph (A) or (B). The court in 
which such action is brought may assess 
against such individual a civil penalty in any 
amount not to exceed $10,000. 
ø‘‘(ii) The Attorney General may bring a 
civil action in any appropriate United States 
district court against any individual who neg-
ligently violates the provisions of subpara-
graph (A) or (B). The court in which such ac-
tion is brought may assess against such indi-
vidual a civil penalty in any amount not to ex-
ceed $5,000. 
ø‘‘(7) Any trust may be considered to be a 
qualified blind trust if— 
ø‘‘(A) the trust instrument is amended 
to comply with the requirements of para-
graph (3) or, in the case of a trust instru-
ment which does not by its terms permit
3250 
amendment, the trustee, the reporting in-
dividual, and any other interested party 
agree in writing that the trust shall be 
administered in accordance with the re-
quirements of this subsection and the 
trustee of such trust meets the require-
ments of paragraph (3)(A); except that in 
the case of any interested party who is a 
dependent child, a parent or guardian of 
such child may execute the agreement re-
ferred to in this subparagraph; 
ø‘‘(B) a copy of the trust instrument 
(except testamentary provisions) and a 
copy of the agreement referred to in sub-
paragraph (A), and a list of the assets 
held by the trust at the time of approval 
by the Office of Government Ethics, in-
cluding the category of value of each 
asset as determined under subsection (d), 
are filed with such office and made avail-
able to the public as provided under 
paragraph (5)(D); and 
ø‘‘(C) the Director of the Office of 
Government Ethics determines that ap-
proval of the trust arrangement as a
3251 
qualified blind trust is in the particular 
case appropriate to assure compliance 
with applicable laws and regulations. 
ø‘‘(8) A reporting individual shall not be 
required to report the financial interests held 
by a widely held investment fund (whether 
such fund is a mutual fund, regulated invest-
ment company, pension or deferred com-
pensation plan, or other investment fund), if— 
ø‘‘(A)(i) the fund is publicly traded; or 
ø‘‘(ii) the assets of the fund are widely 
diversified; and 
ø‘‘(B) the reporting individual neither 
exercises control over nor has the ability 
to exercise control over the financial in-
terests held by the fund. 
ø‘‘(9)(A)(i) A reporting individual de-
scribed in subsection (a) or (b) of section 301 
shall not be required to report the holdings or 
sources of income of any trust or investment 
fund where— 
ø‘‘(I) reporting would result in the 
disclosure of assets or sources of income 
of another person whose interests are not
3252 
required to be reported by the reporting 
individual under this title; 
ø‘‘(II) the disclosure of such assets 
and sources of income is prohibited by 
contract or the assets and sources of in-
come are not otherwise publicly avail-
able; and 
ø‘‘(III) the reporting individual has 
executed a written ethics agreement 
which contains a general description of 
the trust or investment fund and a com-
mitment to divest the interest in the trust 
or investment fund not later than 90 days 
after the date of the agreement. 
ø‘‘(ii) An agreement described under 
clause (i)(III) shall be attached to the public 
financial disclosure which would otherwise 
include a listing of the holdings or sources of 
income from this trust or investment fund. 
ø‘‘(B)(i) The provisions of subparagraph 
(A) shall apply to an individual described in 
subsection (c) or (d) of section 301 if— 
ø‘‘(I) the interest in the trust or in-
vestment fund is acquired involuntarily 
during the period to be covered by the
3253 
report, such as through marriage or in-
heritance, and 
ø‘‘(II) for an individual described in 
subsection (c), the individual executes a 
written ethics agreement containing a 
commitment to divest the interest no 
later than 90 days after the date on 
which the report is due. 
ø‘‘(ii) An agreement described under 
clause (i)(II) shall be attached to the public fi-
nancial disclosure which would otherwise in-
clude a listing of the holdings or sources of in-
come from this trust or investment fund. 
ø‘‘(iii) Failure to divest within the time 
specified or after an extension granted by the 
Director of the Office of Government Ethics 
for good cause shown shall result in an imme-
diate requirement to report as specified in 
paragraph (1). 
ø‘‘(g) Political campaign funds, including 
campaign receipts and expenditures, need not 
be included in any report filed pursuant to 
this title. 
ø‘‘(h) A report filed pursuant to subsection 
(a), (c), or (d) of section 301 need not contain
3254 
the information described in subparagraphs 
(A), (B), and (C) of subsection (a)(2) with re-
spect to gifts and reimbursements received in 
a period when the reporting individual was 
not an officer or employee of the Federal Gov-
ernment. 
ø‘‘(i) A reporting individual shall not be 
required under this title to report— 
ø‘‘(1) financial interests in or income 
derived from— 
ø‘‘(A) 
any 
retirement 
system 
under title 5, United States Code (in-
cluding the Thrift Savings Plan under 
subchapter III of chapter 84 of such 
title); or 
ø‘‘(B) any other retirement system 
maintained by the United States for 
officers or employees of the United 
States, including the President, or for 
members of the uniformed services; 
or 
ø‘‘(2) benefits received under the So-
cial Security Act (42 U.S.C. 301 et seq.). 
ø‘‘(j)(1) Every month, each designated 
agency ethics officer shall submit to the Of-
3255 
fice of Government Ethics notification of any 
waiver of criminal conflict of interest laws 
granted to any individual in the preceding 
month with respect to a filing under this title 
that is not confidential. 
ø‘‘(2) Every month, the Office of Govern-
ment Ethics shall make publicly available on 
the Internet— 
ø‘‘(A) all notifications of waivers sub-
mitted under paragraph (1) in the pre-
ceding month; and 
ø‘‘(B) notification of all waivers grant-
ed by the Office of Government Ethics in 
the preceding month. 
ø‘‘(k) A full copy of any waiver of criminal 
conflict of interest laws granted shall be in-
cluded with any filing required under this 
title with respect to the year in which the 
waiver is granted. 
ø‘‘(l) The Office of Government Ethics 
shall provide upon request any waiver on file 
for which notice has been published. 
ø‘‘SEC. 303. FILING OF REPORTS. 
ø‘‘(a) Except as otherwise provided in this 
section, the reports required under this title
3256 
shall be filed by the reporting individual with 
the designated agency ethics official at the 
agency by which he is employed (or in the 
case of an individual described in section 
301(d), was employed) or in which he will 
serve. The date any report is received (and 
the date of receipt of any supplemental re-
port) shall be noted on such report by such of-
ficial. 
ø‘‘(b) Reports required to be filed under 
this title by the Director of the Office of Gov-
ernment Ethics shall be filed in the Office of 
Government Ethics and, immediately after 
being filed, shall be made available to the 
public in accordance with this title. 
ø‘‘(c) Reports required of members of the 
uniformed services shall be filed with the Sec-
retary concerned. 
ø‘‘(d) The Office of Government Ethics 
shall develop and make available forms for re-
porting the information required by this title. 
ø‘‘SEC. 304. FAILURE TO FILE OR FILING FALSE REPORTS. 
ø‘‘(a) The Attorney General may bring a 
civil action in any appropriate United States 
district court against any individual who
3257 
knowingly and willfully falsifies or who know-
ingly and willfully fails to file or report any 
information that such individual is required 
to report pursuant to section 302. The court 
in which such action is brought may assess 
against such individual a civil penalty in any 
amount, not to exceed $10,000. 
ø‘‘(b) The head of each agency, each Sec-
retary concerned, or the Director of the Office 
of Government Ethics, as the case may be, 
shall refer to the Attorney General the name 
of any individual which such official has rea-
sonable cause to believe has willfully failed to 
file a report or has willfully falsified or will-
fully failed to file information required to be 
reported. 
ø‘‘(c) The President, the Vice President, 
the Secretary concerned, or the head of each 
agency may take any appropriate personnel 
or other action in accordance with applicable 
law or regulation against any individual fail-
ing to file a report or falsifying or failing to 
report information required to be reported.