Transparency in Government Officials Trading Act

Bill: 117-hr-6486
Sponsor: full_name: Rep. Gibbs, Bob [R-OH-7]
Introduced: 2022-01-25
Policy area: Government Operations and Politics
Latest action: action_date: 2022-11-01
text: Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties.

Summaries:
action_date: 2022-01-25
action_desc: Introduced in House
text: <p><b>Transparency in Government Officials Trading Act</b></p> <p>This bill advances the deadline for certain public employees and officials who must file a report of a securities transaction from 30 days after receiving notification of the transaction to within 24 hours after conducting the transaction. The bill requires that these reports be filed electronically. The bill also sets a penalty for failing to file a timely report&#8212;a fee in the amount of the transaction for which a report was not timely filed.</p> <p>Under existing law, the securities transaction reporting requirement applies to the President, Vice President, Members of Congress, and certain executive and legislative branch officers and employees.</p> </p>

tv_txt: I 117th CONGRESS 2d Session H. R. 6486 IN THE HOUSE OF REPRESENTATIVES January 25, 2022 Mr. Gibbs (for himself and Mr. Curtis ) introduced the following bill; which was referred to the Committee on Oversight and Reform , and in addition to the Committees on House Administration , and the Judiciary , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To amend the Ethics in Government Act of 1978 to modify the timing to file periodic transaction reports, and for other purposes.

1. Short title This Act may be cited as the Transparency in Government Officials Trading Act . 2. Modification of timing for periodic transaction reports (a) Timing Section 103(l) of the Ethics in Government Act of 1978 ( 5 U.S.C. App. 103(l) ) is amended— (1) by striking 30 days after receiving notification of any transaction and inserting 24 hours after conducting any transaction ; (2) by striking , but in no case later than 45 days after such transaction ; and (3) by inserting electronically after transaction . (b) Penalty Section 104(d) of the Ethics in Government Act of 1978 ( 5 U.S.C. App. 104(d) ) is amended— (1) by redesignating paragraph (2) as paragraph (3); and (2) by inserting after paragraph (1) the following: (2) Any individual who, as determined by the supervising ethics office, fails to file a report under section 103(l) within 24 hours of the date such report is required to be filed, shall pay a fee equal to the amount of the transaction for which such report was required to be filed. .