This bill tightens ethics rules and increases transparency within the Department of Defense to reduce conflicts of interest and corruption. The legislation extends the "revolving door" restriction that prevents former DoD officials from lobbying the department from two to four years after leaving service, and it requires large defense contractors to publicly disclose their hiring of former military and civilian officials and their lobbying activities. The bill also imposes new hiring bans on giant defense contractors (those receiving over $1 billion annually from DoD) from employing senior former DoD officials for four years after they leave government, and it restricts DoD employees from owning stock in companies that receive over $100 million annually from the department. Additionally, the legislation creates new restrictions on former senior national security officials advising foreign governments and prohibits former military and intelligence officers from working for foreign entities. The transparency provisions require DoD to publicly post contracts, contractor performance records, financial disclosures by major contractors, and biographical information about senior military officers. These requirements apply immediately upon enactment, with some provisions taking effect on January 1, 2024.
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