Net Worth Disclosure Act

Summary

Net Worth Disclosure Act - Requires the President, the Vice President, each Member of the Senate, each Member of the House of Representatives (including Delegates and the Resident Commissioner from Puerto Rico), and each officer and employee of the United States within the executive and legislative branches of Government receiving compensation at an annual rate in excess of $30,000 to file annually with the Comptroller General of the United States a full and complete statement of net worth. Provides that such statement shall consist of: (1) a list of the identity and value of each asset held by him, or jointly by him and his spouse or by him and his child or children, and which has a fair market value in excess of $1,500 as of the end of the calendar year prior to that in which he is required to file a report under this Act; and (2) a list of the identity and amount of each liability owed by him, or jointly by him and his spouse or by him and his child or children, and which is in excess of $1,500 as of the end of the calendar year prior to that in which he is required to file a report under this Act. Provides penalties for violations of the provisions of this Act.

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1 official file

• Introduced in Senate

  summary · EN · 16 January 1975

  Open at official source

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