Financial Disclosure Modernization Act
Summary
What This Bill Does
This bill modernizes the high-end value ranges used in federal financial disclosure reports under chapter 131 of title 5. Instead of a single top category above $50 million, it adds reporting bands for greater than $50 million to $100 million, greater than $100 million to $250 million, greater than $250 million to $500 million, greater than $500 million to $1 billion, and greater than $1 billion. The new categories apply to financial disclosure reports required to be filed on or after enactment.
Who Benefits and How
Public ethics watchdogs, journalists, congressional ethics committees, and voters benefit because very large holdings are no longer hidden inside one broad top category. The Office of Government Ethics and agency ethics officials gain more precise disclosure categories for reviewing high-value interests.
Who Bears the Burden and How
Senior federal officials and other covered financial-disclosure filers must report large values using the expanded categories once their reports are due after enactment. Agency ethics officials and the Office of Government Ethics must update forms, instructions, review practices, and electronic systems to handle the new bands.
Key Provisions
- Amends title 5 financial-disclosure categories by replacing the top over-$50-million category with five narrower high-dollar bands.
- Adds categories for $50 million to $100 million, $100 million to $250 million, $250 million to $500 million, $500 million to $1 billion, and more than $1 billion.
- Requires the new categories to apply to disclosure reports required on or after enactment.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Expands federal financial-disclosure value categories above $50 million so large assets, liabilities, or transactions are reported in narrower high-dollar bands.
Key Policy Areas
Government Ethics, Financial Services
Primary Purpose
Expands federal financial-disclosure value categories above $50 million so large assets, liabilities, or transactions are reported in narrower high-dollar bands.
Policy Domains
Substantive provisions
Identified Gains
- Public ethics watchdogs
- Journalists reviewing financial disclosure reports
- Office of Government Ethics
- Congressional ethics committees
Identified Costs
- Covered federal financial disclosure filers
- Agency ethics officials
- Office of Government Ethics
Sponsors
Legislative Progress
In CommitteeReferred to the Committee on Oversight and Government Reform, and …
Introduced in House
Mr. Min (for himself, Ms. Norton, Ms. Dexter, and Mr. …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Agency ethics officials, Covered federal financial disclosure filers, Office of Government Ethics
Positive-direction: Public ethics watchdogs
Negative-direction: Agency ethics officials, Covered federal financial disclosure filers, Office of Government Ethics
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "chapter_131_filers"
- → Federal officials and other filers covered by title 5 financial disclosure rules
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology