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95TH CONGRESS

1st SESSION

H. R. 5061

IN THE HOUSE OF REPRESENTATIVES

MARCH 15, 1977 Mr. KASTENMEIER (for himself, Mr. RAILSBACK, and Mr. HOLLENBECK) intro

duced the following bill; which was referred to the Committee on the Judiciary

A BILL

To require candidates for Federal office, Members of the Con

gress, and officers and employees of the United States to file statements with the Comptroller General with respect to their income and financial transactions.

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Be it enacted by the Senate and House of Representa

2 tives of the United States of America in Congress assembled,

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SECTION 1. This Act may be cited as the "Financial

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(1) the term "agency" means cach authority of the

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(2) the term “commodity future” has the meaning set forth in sections 2 and 5 of the Commodity Exchange Act, as amended (7 U.S.C. 2 and 5);

(3) the term "candidate” has the meaning set forth in section 301 of the Federal Election Campaign

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Act of 1971 (2 U.S.C. 431);

(4) the term “Comptroller General” means the Comptroller General of the United States;

(5) the term “dependent” has the meaning set

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forth in section 152 of the Internal Revenue Code of

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(6) the term "employee” includes, for purposes of section 3, any employec designated under section 2105 of title 5, United States Code, and any employee of the

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United States Postal Service or of the Postal Rate

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Commission;

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(7) the term “immediate family” means

(A) the spouse of an individual,

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(B) the child, parent, grandparent, grandchild,

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brother, or sister of an individual or of the spouse

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(8) the term "income” means gross income as

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defined in section 61 of the Internal Revenue Code

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of 1954;

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(9) the terın “Member of Congress” means a

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Senator, a Representative, a Resident Commissioner,

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or a Delegate;

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(10) the term "officer" includes, for purposes of section 3, any officer designated under section 2104 of title 5, United States Code and any officer of the

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United States Postal Service or of the Postal Rate

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(11) the term "Presidential nominee" means an in

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dividual appointed by the President to an office for which confirmation, by and with the advice and consent of the Senate, is required, or an individual nominated by the President to serve as Vice President pursuant to

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the twenty-fifth amendment to the Constitution of the

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(12) the term “political contribution” means a

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contribution as defined in section 301 of the Federal

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Election Campaign Act of 1971 (2 U.S.C. 431);

(13) the term “political expenditure” means an

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expenditure as defined in section 301 of the Federal

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Election Campaign Act of 1971 (2 U.S.C. 431);

(14) the term "security" has the meaning set forth

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in section 2 of the Securities Act of 1933, as amended

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(15) the terin “transactions in securities and coni

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modities” means any acquisition, transfer, or other disposition involving any security or commodity; and

(10) the term "uniformed services” means any

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of the Armed Forces, the commissioned corps of the

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SEC. 3. (a) Any individnal identified in subsection (b)

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13 complete financial statement for the preceding calendar 14 year if such individual has occupied or been a candidate for

15 the office or position for a period in excess of ninety days

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(1») The individuals referred to in subsection (a) are

(1) the President and any candidate for that office; (2) the Vice President and any candidate for that

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office:

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(3) each Member of Congress and any candidate

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(4) cach justice or judge of the United States;
(5) cach Presidential nominee:

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(C) each officer or employee of the United States

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who is compensated at a rate equal to or in excess of the ininimum rate prescribed for employees holding the grade of GS-15 of the General Schedule or any higher grade or position (as determined by the Comptroller General regardless of the rate of compensation of such individual); and

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(7) cach member of a uniformed service who is

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compensated at a rate equal to or in excess of the monthly rate of pay prescribed for grade 0-6 or any higher grade of pay established under chapter 3 of title

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37, United States Code.

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CONTENTS OF REPORTS

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Sec. 4. (a) Each individual shall include in each report

1+ required to be filed by him under section 3 a full and com15 plete statement, in such manner and form as the Comptroller 16 General may prescribe, with respect to17

(1) the amount and source of each item of income,

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each itein of reimburseinent for any expenditure, and

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each gist or aggregate of gifts from one source (other than gifts received froin any member of his immediate family) received during the preceding calendar year

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which exceeds $100 in amount or value, including any

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