< Back to H.R. 4989 (106th Congress, 1999–2000)

Text of the Campaign Finance Disclosure on Sales of Personnel Assets Act of 2000

This bill was introduced on July 27, 2000, in a previous session of Congress, but was not enacted. The text of the bill below is as of Jul 27, 2000 (Introduced).

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Source: GPO

HR 4989 IH

106th CONGRESS

2d Session

H. R. 4989

To amend the Federal Election Campaign Act of 1971 to require candidates for election for Federal office who sell personal assets to report information on the sale of the assets to the Federal Election Commission.

IN THE HOUSE OF REPRESENTATIVES

July 27, 2000

Mr. COOK introduced the following bill; which was referred to the Committee on House Administration


A BILL

To amend the Federal Election Campaign Act of 1971 to require candidates for election for Federal office who sell personal assets to report information on the sale of the assets to the Federal Election Commission.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ‘Campaign Finance Disclosure on Sales of Personnel Assets Act of 2000’.

SEC. 2. REQUIRING CANDIDATES TO REPORT INFORMATION ON SALES OF PERSONAL ASSETS.

    (a) IN GENERAL- Section 304 of the Federal Election Campaign Act of 1971 (2 U.S.C. 434) is amended by adding at the end the following new subsection:

    ‘(d)(1) If an individual who is a candidate for election for Federal office or any member of such individual’s immediate family sells any personal asset for a price equal to or greater than $1,000 during the period described in paragraph (2), the individual shall file a statement with the Commission not later than 10 days after the sale (or, in the case of a sale occurring within 10 days of the election, not later than 48 hours after the sale) containing a description of the asset, the identification of the purchaser, the price at which the asset was sold, and the amount of any profit (or loss) which resulted from the sale.

    ‘(2) The period described in this paragraph is the period which begins on the date the individual first becomes a candidate for purposes of this Act and ends on the date of the election for the office the individual seeks.

    ‘(3) The statement required under this subsection shall be in addition to all other reporting requirements under this Act.’.

    (b) EFFECTIVE DATE- The amendment made by subsection (a) shall apply with respect to sales of assets which occur on or after the date of the enactment of this Act.