Summary: S.3625 — 112th Congress (2011-2012)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Public Law No: 112-178 (09/28/2012)

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Postpones until December 8, 2012, the requirement under the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act) that the Secretary of the Senate, the Sergeant at Arms of the Senate, and the Clerk of the House of Representatives ensure that financial disclosure forms filed by congressional officers and employees be made available to the public on the respective official Senate and House websites within 30 days after filing.

Postpones until the same date the requirement that the President ensure that financial disclosure forms filed by executive branch employees are publicly available on appropriate official websites of executive branch agencies within such period.

Excludes from these effective date postponements, however, the President, Vice President, Members of Congress, candidates for Congress, and any officer occupying a position listed under Level I and Level II of the Executive Schedule having been nominated by the President and confirmed by the Senate. (Thus maintains September 30, 2012, as the effective date of the requirement that such individuals make their financial disclosure forms available to the public.)

Requires the Director of the Office of Personnel Management (OPM) to contract with the National Academy of Public Administration to study issues raised by the website publication of financial disclosure forms. Requires the Academy to report and make recommendations to Congress and the President for ways to avoid or mitigate the risks identified in its study.

Postpones until January 1, 2013, the requirement that Members of Congress and congressional officers and employees file financial periodic transaction reports (PTRs) with the Clerk of the House that include information on the sources of income of their spouses or children, but only with respect to any transaction exceeding $1,000 in stocks, bonds, commodities futures, and other forms of securities.

Postpones until the same date also the PTRs requirements for certain individuals in the executive branch. Lists these individuals as: (1) the President; (2) the Vice President; (3) executive officers or employees, including certain special government employees and members of a uniformed service; (4) appointed administrative law judges; (5) executive branch employees in positions excepted from the competitive service because of their confidential or policymaking character (except those excluded from such exception by the Director of the Office of Government Ethics [OGE]); (6) the Postmaster General, the Deputy Postmaster General, each Governor of the Board of Governors of the U.S. Postal Service, and certain U.S. Postal Service officers or employees; (7) the OGE Director and each designated agency ethics official; and (8) civilian employees of the Executive Office of the President (other than a special government employee) appointed by the President.