Congressional Foreign Entanglement Disclosure and Reduction Act

Bill: 118-hr-2512
Sponsor: full_name: Rep. Posey, Bill [R-FL-8]
Introduced: 2023-04-06
Policy area: Congress
Latest action: action_date: 2023-04-06
text: Referred to the House Committee on House Administration.

Summaries:
action_date: 2023-04-06
action_desc: Introduced in House
text: <p><b>Congressional Foreign Entanglement Disclosure and Reduction Act</b></p> <p>This bill expands financial disclosure reporting provisions to require each Member of Congress to report any business ties that the Member, or the Member's immediate family, has with a foreign entity.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 2512 IN THE HOUSE OF REPRESENTATIVES April 6, 2023 Mr. Posey introduced the following bill; which was referred to the Committee on House Administration A BILL To amend title 5, United States Code, to require Members of Congress to disclose business ties with foreign entities, and for other purposes.

1. Short title This Act may be cited as the Congressional Foreign Entanglement Disclosure and Reduction Act . 2. Disclosure by Members of Congress of business ties with foreign entities (a) In general Section 13104 of title 5, United States Code, is amended by adding at the end the following: (j) Foreign entity business ties of Members of Congress Any report filed pursuant to section 13103(d) by a Member of Congress shall include the disclosure of any business ties the Member or any member of the Member’s immediate family has (if any) with a foreign entity. If a Member of Congress makes an affirmative disclosure of any such ties, the Member shall include information detailing the nature of the business tie, the name of the applicable foreign entity, and the total value of any income received by the Member or immediate family member as a result of such tie during the calendar year covered by the report submitted pursuant to such section 13103(d) and the preceding four calendar years. . (b) Application The amendment made by subsection (a) shall apply to any report filed pursuant to section 13103(d) of title 5, United States Code, after the date of enactment of this Act.