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Financial Disclosure Modernization Act

This act updates how high-ranking government officials report their wealth by adding new, higher value categories. It aims to provide the public with more detailed information about the significant assets and income of public servants.
Key points
Adds new reporting brackets for income and assets exceeding $5 million.
Introduces specific categories for wealth reaching over $1 billion.
Increases transparency regarding the finances of top government officials.
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Status: Introduced
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Additional Information
Print number: 119_HR_7508
Sponsor: Rep. Min, Dave [D-CA-47]
Process start date: 2026-02-11
System Note: Lustra is free, publicly auditable civic infrastructure — 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-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Financial Disclosure Modernization Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_7508.

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 2026-02-11.

What are the main provisions?

Key points include:

  • Adds new reporting brackets for income and assets exceeding $5 million.
  • Introduces specific categories for wealth reaching over $1 billion.
  • Increases transparency regarding the finances of top government officials.
What is the specific legal status?

The current status is Introduced.

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. Min, Dave [D-CA-47].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-02-23.

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.

CATEGORIES

Courts and Law