Us Congress 2023-2024 Regular Session

Us Congress House Bill HB908 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	118THCONGRESS
3	3	1
4	4	STSESSION H. R. 908
5	5	To amend the Internal Revenue Code of 1986 to require the disclosure
6	6	of tax returns of Presidents and Vice Presidents and certain candidates
7	7	for President and Vice President, and for other purposes.
8	8	IN THE HOUSE OF REPRESENTATIVES
9	9	FEBRUARY9, 2023
10	10	Ms. E
11	11	SHOO(for herself, Mr. PASCRELL, Ms. BONAMICI, Mr. GARAMENDI, Mr.
12	12	P
13	13	ANETTA, Mr. QUIGLEY, Mrs. WATSONCOLEMAN, Mr. BLUMENAUER,
14	14	Mr. S
15	15	CHIFF, Ms. NORTON, Mr. KEATING, Ms. TITUS, Ms. WILLIAMSof
16	16	Georgia, Mr. D
17	17	AVISof Illinois, Mr. SWALWELL, Mr. BEYER, Mr. COHEN,
18	18	Mr. P
19	19	AYNE, Ms. CLARKEof New York, Mr. GRIJALVA, Ms. BROWNLEY,
20	20	Mr. C
21	21	ARSON, Ms. MOOREof Wisconsin, Mr. MCGOVERN, Mr. POCAN, Mr.
22	22	F
23	23	OSTER, Mr. JOHNSONof Georgia, Mr. KILDEE, Ms. MATSUI, Ms. POR-
24	24	TER, Mr. SOTO, Mr. COURTNEY, and Ms. DELBENE) introduced the fol-
25	25	lowing bill; which was referred to the Committee on Ways and Means,
26	26	and in addition to the Committee on House Administration, for a period
27	27	to be subsequently determined by the Speaker, in each case for consider-
28	28	ation of such provisions as fall within the jurisdiction of the committee
29	29	concerned
30	30	A BILL
31	31	To amend the Internal Revenue Code of 1986 to require
32	32	the disclosure of tax returns of Presidents and Vice
33	33	Presidents and certain candidates for President and Vice
34	34	President, and for other purposes.
35	35	Be it enacted by the Senate and House of Representa-1
36	36	tives of the United States of America in Congress assembled, 2
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39	39	•HR 908 IH
40	40	SECTION 1. SHORT TITLE. 1
41	41	This Act may be cited as the ‘‘Presidential Tax 2
42	42	Transparency Act’’. 3
43	43	SEC. 2. PRESIDENTIAL AND VICE PRESIDENTIAL TAX 4
44	44	TRANSPARENCY. 5
45	45	(a) D
46	46	EFINITIONS.—In this section— 6
47	47	(1) The term ‘‘covered candidate’’ means a can-7
48	48	didate of a major party in a general election for the 8
49	49	office of President or Vice President. 9
50	50	(2) The term ‘‘major party’’ has the meaning 10
51	51	given the term in section 9002 of the Internal Rev-11
52	52	enue Code of 1986. 12
53	53	(3) The term ‘‘income tax return’’ means, with 13
54	54	respect to an individual, any return (as such term is 14
55	55	defined in section 6103(b)(1) of the Internal Rev-15
56	56	enue Code of 1986, except that such term shall not 16
57	57	include declarations of estimated tax) of— 17
58	58	(A) such individual, other than information 18
59	59	returns issued to persons other than such indi-19
60	60	vidual; or 20
61	61	(B) of any corporation, partnership, or 21
62	62	trust in which such individual holds, directly or 22
63	63	indirectly, a significant interest as the sole or 23
64	64	principal owner or the sole or principal bene-24
65	65	ficial owner (as such terms are defined in regu-25
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68	68	•HR 908 IH
69	69	lations prescribed by the Secretary of the 1
70	70	Treasury or his delegate). 2
71	71	(4) The term ‘‘Secretary’’ means the Secretary 3
72	72	of the Treasury or the delegate of the Secretary. 4
73	73	(b) D
74	74	ISCLOSURE.— 5
75	75	(1) I
76	76	N GENERAL.— 6
77	77	(A) C
78	78	ANDIDATES FOR PRESIDENT AND 7
79	79	VICE PRESIDENT.—Not later than the date that 8
80	80	is 15 days after the date on which an individual 9
81	81	becomes a covered candidate, the individual 10
82	82	shall submit to the Federal Election Commis-11
83	83	sion a copy of the individual’s income tax re-12
84	84	turns for the 10 most recent taxable years for 13
85	85	which a return has been filed with the Internal 14
86	86	Revenue Service. 15
87	87	(B) P
88	88	RESIDENT AND VICE PRESIDENT .— 16
89	89	With respect to an individual who is the Presi-17
90	90	dent or Vice President, not later than the due 18
91	91	date for the return of tax for each taxable year, 19
92	92	such individual shall submit to the Federal 20
93	93	Election Commission a copy of the individual’s 21
94	94	income tax returns for the taxable year and for 22
95	95	the 9 preceding taxable years. 23
96	96	(C) T
97	97	RANSITION RULE FOR SITTING PRESI -24
98	98	DENTS AND VICE PRESIDENTS .—Not later than 25
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101	101	•HR 908 IH
102	102	the date that is 30 days after the date of enact-1
103	103	ment of this section, an individual who is the 2
104	104	President or Vice President on such date of en-3
105	105	actment shall submit to the Federal Election 4
106	106	Commission a copy of the income tax returns 5
107	107	for the 10 most recent taxable years for which 6
108	108	a return has been filed with the Internal Rev-7
109	109	enue Service. 8
110	110	(2) F
111	111	AILURE TO DISCLOSE .—If any require-9
112	112	ment under paragraph (1) to submit an income tax 10
113	113	return is not met, the chairman of the Federal Elec-11
114	114	tion Commission shall submit to the Secretary a 12
115	115	written request that the Secretary provide the Fed-13
116	116	eral Election Commission with the income tax re-14
117	117	turn. 15
118	118	(3) P
119	119	UBLICLY AVAILABLE.—The chairman of 16
120	120	the Federal Election Commission shall make publicly 17
121	121	available each income tax return submitted under 18
122	122	paragraph (1) in the same manner as a return pro-19
123	123	vided under section 6103(l)(23) of the Internal Rev-20
124	124	enue Code of 1986 (as added by this section). 21
125	125	(4) T
126	126	REATMENT AS A REPORT UNDER THE 22
127	127	FEDERAL ELECTION CAMPAIGN ACT OF 1971 .—For 23
128	128	purposes of the Federal Election Campaign Act of 24
129	129	1971, any income tax return submitted under para-25
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132	132	•HR 908 IH
133	133	graph (1) or provided under section 6103(l)(23) of 1
134	134	the Internal Revenue Code of 1986 (as added by 2
135	135	this section) shall, after redaction under paragraph 3
136	136	(3) or subparagraph (B)(ii) of such section, be treat-4
137	137	ed as a report filed under the Federal Election Cam-5
138	138	paign Act of 1971. 6
139	139	(c) D
140	140	ISCLOSURE OFRETURNS OFPRESIDENTS AND 7
141	141	V
142	142	ICEPRESIDENTS AND CERTAINCANDIDATES FOR 8
143	143	P
144	144	RESIDENT ANDVICEPRESIDENT.— 9
145	145	(1) I
146	146	N GENERAL.—Section 6103(l) of the Inter-10
147	147	nal Revenue Code of 1986 is amended by adding at 11
148	148	the end the following new paragraph: 12
149	149	‘‘(23) D
150	150	ISCLOSURE OF RETURN INFORMATION 13
151	151	OF PRESIDENTS AND VICE PRESIDENTS AND CER -14
152	152	TAIN CANDIDATES FOR PRESIDENT AND VICE PRESI -15
153	153	DENT.— 16
154	154	‘‘(A) I
155	155	N GENERAL.—Upon written request 17
156	156	by the chairman of the Federal Election Com-18
157	157	mission under section 2(b)(2) of the Presi-19
158	158	dential Tax Transparency Act, not later than 20
159	159	the date that is 15 days after the date of such 21
160	160	request, the Secretary shall provide copies of 22
161	161	any return which is so requested to officers and 23
162	162	employees of the Federal Election Commission 24
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165	165	•HR 908 IH
166	166	whose official duties include disclosure or redac-1
167	167	tion of such return under this paragraph. 2
168	168	‘‘(B) D
169	169	ISCLOSURE TO THE PUBLIC .— 3
170	170	‘‘(i) I
171	171	N GENERAL.—The chairman of 4
172	172	the Federal Election Commission shall 5
173	173	make publicly available any return which is 6
174	174	provided under subparagraph (A). 7
175	175	‘‘(ii) R
176	176	EDACTION OF CERTAIN INFOR -8
177	177	MATION.—Before making publicly available 9
178	178	under clause (i) any return, the chairman 10
179	179	of the Federal Election Commission shall 11
180	180	redact such information as the Federal 12
181	181	Election Commission and the Secretary 13
182	182	jointly determine is necessary for pro-14
183	183	tecting against identity theft, such as so-15
184	184	cial security numbers.’’. 16
185	185	(2) C
186	186	ONFORMING AMENDMENTS .—Section 17
187	187	6103(p)(4) of such Code is amended— 18
188	188	(A) in the matter preceding subparagraph 19
189	189	(A) by striking ‘‘or (22)’’ and inserting ‘‘(22), 20
190	190	or (23)’’; and 21
191	191	(B) in subparagraph (F)(ii) by striking ‘‘or 22
192	192	(22),’’ and inserting ‘‘(22), or (23)’’. 23
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195	195	•HR 908 IH
196	196	(3) EFFECTIVE DATE.—The amendments made 1
197	197	by this subsection shall apply to disclosures made on 2
198	198	or after the date of enactment of this Act. 3
199	199	Æ
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