Section 1 Short title
This Act may be cited as the “Member Financial Transparency Act”.
Member Financial Transparency Act
A BILL
To amend the Ethics in Government Act of 1978 to require Members of Congress to file the reports on transactions in stocks, bonds, commodities futures, and other forms of securities which are required under such Act not later than 7 days after the transactions are completed, and for other purposes.
Sec. 2 7-day deadline for Members of Congress to file reports on transactions in securities
Modification of deadline for Members To file reports— Section 103(l) of the Ethics in Government Act of 1978 (5 U.S.C. App. 103(l)) is amended by striking “in no case later than 45 days after such transaction” and inserting “in no case later than 45 days after such transaction (or, in the case of a Member of Congress, in no case later than 7 days after such transaction)”.
Modification of deadline for Clerk of the House and Secretary of the Senate To make reports public— Section 105(b)(1) of such Act (5 U.S.C. App. 105(b)(1)) is amended by striking “within thirty days” and inserting “within 30 days (or, in the case of a report of a transaction required to be reported under section 102(a)(5)(B) which is filed by a Member of Congress, within 10 days)”.
Effective date— The amendments made by this section shall apply with respect to transactions occurring on or after the date of the enactment of this Act.