Summary

                            To address financial conflicts of interest of the President and Vice President.

Introduced in House
Presidential Conflicts of Interest Act of 2017

This bill requires the President and Vice President to submit to Congress and
the Office of Government Ethics a disclosure of financial interests.

Among the contents of such disclosure, the President and Vice President shall:
(1) include a detailed description of each financial interest of the President
and Vice President, the spouse of the President and Vice President, or a minor
child of the President and Vice President; and (2) include the tax returns filed
by or on behalf of the President and Vice President for the three most recent
taxable years.

The President, the Vice President, the spouse of the President or Vice
President, and any minor child of the President or Vice President must divest
any financial interest posing a potential conflict of interest by transferring
such interest to a qualified blind trust.

Within a reasonable period of time after such financial interest is transferred
to a qualified blind trust, the trustee of such trust shall: (1) sell the
financial interest; and (2) use the proceeds from the sale of the financial
interest to purchase conflict-free holdings.

The Office of Government Ethics shall submit to Congress, the President, and the
Vice President an annual report regarding the financial interests of such
officials, their spouses, and any of their minor children.

The Attorney General, the attorney general of any state, or any person aggrieved
by a violation of divestiture requirements posing a potential conflict of
interest may seek declaratory or injunctive relief if: (1) the Office of
Government Ethics is unable to issue a report indicating whether the President
or Vice President is in substantial compliance with such divestiture
requirements; or (2) there is probable cause to believe the President or the
Vice President has not complied with such requirements.

The bill amends the federal criminal code to require the recusal of presidential
appointees from decisions affecting the financial holdings of a President or the
spouse of a President. Prohibitions pertaining to contracts entered into by
Members of Congress are extended to contracts by the President or Vice
President.

The bill amends the Ethics in Government Act of 1978 to require the disclosure
of tax returns by the incumbent President and presidential nominees of a major
political party for the three most recent taxable years.

The bill declares the sense of Congress that a violation of the divestiture
requirements of this bill or the Ethics in Government in Government Act of 1978
by the President or the Vice President would constitute a high crime or
misdemeanor.



                        

Actions

  • Referred to the Subcommittee on the Constitution and Civil Justice.

    Feb 6th, 2017
  • Referred to House Judiciary

    Jan 9th, 2017
  • Referred to House Ways and Means

    Jan 9th, 2017
  • Referred to House Oversight and Government Reform

    Jan 9th, 2017
  • Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on Ways and Means, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Jan 9th, 2017
  • Introduced in House

    Jan 9th, 2017
  • Introduced in House

    Jan 9th, 2017