To amend section 13105(l) of title 5, United States Code, to require the reporting of periodic transaction reports not later than 24 hours after receiving notification of the requirement to report a transaction but in no case later than 72 hours after such transaction.
About This Bill
Committee
Latest Action · February 29, 2024
Referred to the Committee on Oversight and Accountability, and in addition to the Committees on House Administration, 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.
This bill would speed up how quickly members of Congress must report their stock trades and other financial transactions. Currently, lawmakers have 30 to 45 days to file these periodic transaction reports, but the Immediate Stock Disclosure Act would require them to report within 24 to 72 hours of completing a transaction. The legislation affects all federal officials covered under existing congressional financial disclosure rules and aims to increase transparency by making stock trading information available to the public much faster. The bill does not establish new funding requirements and has no specific implementation timeline beyond the new reporting deadlines themselves.
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