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H.R. 1489 (116th): Tax Transparency Act of 2019


The text of the bill below is as of Mar 4, 2019 (Introduced). The bill was not enacted into law.


I

116th CONGRESS

1st Session

H. R. 1489

IN THE HOUSE OF REPRESENTATIVES

March 4, 2019

introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to require public disclosure of individual tax returns of the President, the Vice President, and Members of Congress, and candidates for such offices.

1.

Short title

This Act may be cited as the Tax Transparency Act of 2019.

2.

Disclosure of returns and return information of candidates for President, Vice President, or Congress

(a)

In general

Subsection (k) of section 6103 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:

(13)

Disclosure of returns and return information of candidates for President, Vice President, or Congress

(A)

In general

The Secretary shall disclose and make publicly available returns and return information of—

(i)

any candidate who designates a principal campaign committee under section 302(e)(1) of the Federal Election Campaign Act of 1971 or, in the case of a candidate for the office of Vice President, any candidate for such office under such Act, and

(ii)

any individual who, on April 15th of a calendar year, is the President, the Vice President, or a Member of Congress.

(B)

Exceptions

The information disclosed under subparagraph (A) shall not include any Social Security number, any financial account number, the name of any individual under age 18, or any home address of any individual (other than the city and State in which such address is located).

(C)

Timing

The Secretary shall make the disclosure required by paragraph (A)—

(i)

in the case of a candidate described in clause (i) of such paragraph, not later than the later of—

(I)

the date that is 15 days after the designation described in such clause (or in the case of a candidate for the office of Vice President, 15 days after such individual becomes such a candidate), or

(II)

the date that is 15 days after the date of the enactment of this paragraph, and

(ii)

in the case of an individual described in clause (ii) of such paragraph, not later than April 30th of the year described in such clause.

(D)

Scope

The returns and return information disclosed under subparagraph (A) shall include any return filed during the 7-year period ending on—

(i)

in the case of a candidate described in paragraph (A)(i), the date of the designation described in such clause (or in the case of a candidate for the office of Vice President, the day such individual becomes such a candidate), and

(ii)

in the case of an individual described in paragraph (A)(ii), April 15th of the year described in such clause.

.

(b)

Effective date

The amendment made by this section shall apply to individuals who are candidates on, and to individuals holding office on, dates after the date of the enactment of this Act.