S. 3827 — Financial Disclosure Modernization Act

This section revises the tiered reporting thresholds for dividends, rents, interest, and capital gains in executive branch financial disclosures by replacing the single category for amounts greater than $1 million with five new categories—(1) greater than $5 million but not more than $25 million, (2) greater than $25 million but not more than $100 million, (3) greater than $100 million but not more than $500 million, (4) greater than $500 million but not more than $1 billion, or (5) greater than $1 billion—and striking "or" from the prior category (greater than $100,000 but not more than $1 million). (Thus, senior executive branch officials must report more granular amounts for investment income exceeding $5 million from a single source on OGE Form 278.)

This section revises the categories for reporting amounts or values in executive branch financial disclosure reports by striking the category for amounts greater than $50 million and inserting new categories of (J) greater than $50 million but not more than $100 million, (K) greater than $100 million but not more than $250 million, (L) greater than $250 million but not more than $500 million, (M) greater than $500 million but not more than $1 billion, and (N) greater than $1 billion. (Thus, senior executive branch officials must report high-value assets, income, and transactions in finer value ranges.)

This section makes the amendments made by the Act applicable to financial disclosure reports under chapter 131 of title 5, United States Code, that are required to be filed on or after the date of enactment.