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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
3/6/2007--Introduced. Honest Income Disclosure Act - Amends the Securities Exchange Act of 1934 to instruct the Securities and Exchange Commission (SEC) to issue revised regulations requiring certain mandatory annual reports to include the income reported by the issuer to the Internal Revenue Service for the most recent taxable year, presented in a prominent location and in a manner that permits a ready comparison of such income to income otherwise required to be included.
Requires such information to be: (1) suitable for entry into the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR); and (2) immediately available via that system, upon receipt.