Federal Financial Disclosure Act

Summary

Federal Financial Disclosure Act - Requires the President, the Vice President, each Member of Congress, each officer and employee of the United States (including any member of a uniformed service) who is compensated at a rate in excess of $25,000 per annum, and any individual occupying the position of an officer or employee of the United States who performs duties of the type generally performed by an individual occupying grade GS-16 of the General Schedule or any higher grade or position to file annually, and each individual who is a candidate of a political party in a general election for the office of a Member of Congress but who, at the time he becomes a candidate, does not occupy any such office, to file within one month after he becomes a candidate for such office, with the Federal Election Commission a report containing a full and complete statement of: (1) the amount and source of each item of income, and each item of reimbursement received by him or by him and his spouse jointly during the preceding calendar year which exceeds $100 in amount or value, including any honorarium and the monetary value of subsistence, entertainment, travel, and other facilities received by him in kind; (2) the identity of each asset held by him in excess of $1,000, and the amount of each liability in excess of $1,000; (3) any transactions in securities of any business entity by him if the aggregate amount involved exceeds $1,000; (4) all transactions in commodities if the aggregate amount involved in such transactions exceeds $1,000; and (5) any purchase or sale of real property or any interest therein if the value of property involved in such purchase or sale exceeds $1,000. Provides that such reports are to be filed no later than May 15 of each year. Provides that any person who willfully fails to file a report, or who knowingly and willfully files a false report, shall be fined $2,000 or imprisoned for not more than five years or both. Defines the terms used in this Act.

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Timeline

1. 18 November 1974

   Introduced

   Referred to House Committee on Judiciary.

   Source: IntroReferral

2. 18 November 1974

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 November 1974

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 18 November 1974

  Open at official source

Sponsors

• Rep. Rinaldo, Matthew J. [R-NJ-12] · R · Sponsor
• · hsju00 · Standing

Related records

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