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Faster Financial Reporting for Officials, Stricter Penalties.

This bill aims to increase transparency in the financial dealings of government officials. It mandates that officials report financial transactions within 24 hours, a significant reduction from the previous 30-45 day window. Furthermore, failure to report a transaction on time will result in a penalty equal to the value of the unreported transaction.
Key points
Government officials must report their financial transactions within 24 hours of conducting them.
Transaction reports must be submitted electronically.
The penalty for failing to report a transaction on time is a fee equal to the value of the unreported transaction.
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Status:
Expired
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Additional Information
Print number: 117_HR_6486
Sponsor: Rep. Gibbs, Bob [R-OH-7]
Process start date: 2022-01-25
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Transparency in Government Officials Trading Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6486.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-01-25.

What are the main provisions?

Key points include:

  • Government officials must report their financial transactions within 24 hours of conducting them.
  • Transaction reports must be submitted electronically.
  • The penalty for failing to report a transaction on time is a fee equal to the value of the unreported transaction.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Gibbs, Bob [R-OH-7].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

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