,i  #aad? ,,congress  #b;d ,session  ,h4
 ,r4 #fcdj  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,novemb] #ag1 #bjaf   
,ms4 ,cl>k ( ,massa*usetts introduc$ !  
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ! ,judici>y  ,a ,,bill    
,to ext5d conflict ( int]e/ provisions  
to ! ,presid5t & ,vice ,presid5t ( !    
,unit$ ,/ates4  #a4 ,%ort title  ,?is   
,act may be cit$ z ! ,presid5tial       
,acc\ntability ,act4  #b4 ,acts affect+ 
a p]sonal f9ancial int]e/ ( ! ,presid5t 
or ,vice ,presid5t ( ! ,unit$ ,/ates    
7a7 ,9 g5]al ,*apt] #aa ( title #ah1    
,unit$ ,/ates ,code1 is am5d$ by ins]t+ 
aft] section #bjh ! foll[+3  #bjh;,a4   
,acts affect+ a p]sonal f9ancial int]e/ 
( ! ,presid5t or ,vice ,presid5t ( !    
,unit$ ,/ates  7a7 ,except z p]mitt$ by 
subsection 7b7 h]e(1 :oev]1 be+ !       
,presid5t or ,vice ,presid5t ( ! ,unit$ 
,/ates1 p>ticipates p]sonally &         
sub/antially1 ?r\gh decision1 approval1 
disapproval1 recomm5dation1 ! r5d]+ (   
advice1 inve/igation1 or o!rwise1 9 a   

judicial or o!r proce$+1 application1   
reque/ = a rul+ or o!r det]m9ation1     
contract1 claim1 controv]sy1 *>ge1      
accusation1 arre/1 or o!r p>ticul> matt]
 9 :i*1 to _! k1 ! ,presid5t or ,vice   
,presid5t ( ! ,unit$ ,/ates1 _! sp\se1  
*ild1 g5]al p>tn]1 organization 9 :i* !y
 are s]v+ z (fic]1 director1 tru/ee1    
g5]al p>tn] or employee1 or any p]son or
 organization ) :om !y are negotiat+ or 
has any arrangem5t conc]n+ prospective  
employm5t1 has a f9ancial int]e/ %all be
 subject to ! p5alties set =? 9 section 
#baf ( ?is title4  7b7 ,subsection 7a7  
%all n apply-- 7#a7 if ! f9ancial int]e/
 t w\ld be affect$ by ! p>ticul> matt]  
involv$ is held 9 a qualifi$ bl9d tru/ z
 def9$ by subsection 7g72 or  7#b7 if ! 
,presid5t or ,vice ,presid5t ( ! ,unit$ 
,/ates fir/ advises ! ,director ( !     
,(fice ( ,gov]nm5t ,e?ics ( ! nature &  
circum/ances ( ! judicial or o!r        
proce$+1 application1 reque/ = a rul+ or
 o!r det]m9ation1 contract1 claim1      
controv]sy1 *>ge1 accusation1 arre/1 or 

o!r p>ticul> matt] & makes full         
disclosure ( ! f9ancial int]e/ &        
receives 9 advance a writt5 det]m9ation 
made by ! ,director ( ! ,(fice (        
,gov]nm5t ,e?ics t ! int]e/ is n s      
sub/antial z to be deem$ likely to      
affect ! actions ( ! ,presid5t or ,vice 
,presid5t or und]m9e ! public's         
confid5ce 9 ! integrity ( _! (fice4  7c7
 ,9 ! ev5t t a national em]g5cy         
necessitates ! ,presid5t or ,vice       
,presid5t tak+ any imm$iate action t    
affects _! p]sonal f9ancial int]e/s     
prior to receiv+ an exemption "u        
subsection 7b77#b71 ! ,presid5t or ,vice
 ,presid5t %all1 9 addition to !        
in=mation requir$ by subsection 7b77#b71
 notify ! ,director ( ! ,(fice (        
,gov]nm5t ,e?ics ( ! circum/ances       
requir+ action to be tak5 prior to !    
receipt ( an exemption & %all make a    
retroactive reque/ = an exemption "u    
subsection 7b77#b7 )9 #dh h\rs ( tak+ ! 
action4 ,! ,director ( ! ,(fice (       
,gov]nm5t ,e?ics %all !n make a writt5  

det]m9ation z to :e!r an exemption "u   
subsection 7b77#b7 w\ld h be5 issu$ _h !
 ,presid5t or ,vice ,presid5t reque/$ an
 exemption prior to tak+ ! action4 ,%\ld
 ! ,director ( ! ,(fice ( ,gov]nm5t     
,e?ics det]m9e t an exemption w\ld n h  
be5 grant$1 ! ,presid5t or ,vice        
,presid5t %all1 to ! ext5t practicable1 
return1 repay1 remit1 or refund any     
b5efit ga9$ z a result ( t action4 ,any 
f9ancial ga9s t _c be repaid %all be    
gift$ to r$uce ! public debt pursuant to
 section #caac ( title #ca1 ,unit$      
,/ates ,code4  7d7 ,! ,director ( !     
,(fice ( ,gov]nm5t ,e?ics %all complete 
! writt5 det]m9ation requir$ "u         
subsection 7b77#b7 & subsection 7c7 z   
soon z practicable1 b 9 no ev5t %all !  
det]m9ation be made lat] ?an #aj days   
foll[+ a reque/ = an exemption4 ,any    
reque/ = exemption "u subsection 7b77#b7
 & subsection 7c7 n receiv+ a writt5    
det]m9ation )9 #aj days w be deem$ to h 
be5 d5i$4  7e7 ,a copy ( any reque/ = an
 exemption & a copy ( any det]m9ation   

made 9 response to a reque/ = an        
exemption1 includ+ exemptions "u        
subsection 7b77#b7 or 7c7 & any         
det]m9ation deem$ to h be5 d5i$ "u      
subsection 7d71 %all be made available  
to ! public by ! ,(fice ( ,gov]nm5t     
,e?ics )9 #aj days ( ! receipt ( a      
reque/ = an exemption pursuant to       
proc$ures set =? 9 section #aje ( !     
,e?ics 9 ,gov]nm5t ,act ( #aigh4 ,9 mak+
 su* det]m9ation available1 ! ag5cy may 
)hold f disclosure any in=mation conta9$
 9 ! det]m9ation t w\ld be exempt f     
disclosure "u section #eeb ( title #e4  
7f7 ,a violation ( subsection 7a7 %all  
con/itute a high crime & misdemeanor = !
 purposes ( article ,,ii1 section #d ( !
 ,unit$ ,/ates ,con/itution4  7g7 ,= !  
purposes ( ?is section1 ! t]m qualifi$  
bl9d tru/ %all include any tru/ 9 :i* ! 
,presid5t or ,vice ,presid5t ( ! ,unit$ 
,/ates1 _! sp\se1 or any *ild has a     
b5eficial int]e/ 9 ! pr9cipal or income1
 & :i* meets ! foll[+ requirem5ts3  7#a7
 ,9 g5]al  7,a7 ,! tru/ee ( ! tru/ & any

 o!r entity designat$ 9 ! tru/ in/rum5t 
to p]=m fiduci>y duties is a f9ancial   
in/itution1 an attorney1 a c]tifi$      
public acc\ntant1 a brok]1 or an        
inve/m5t advisor :o--  7i7 is indep5d5t 
( & n associat$ ) any int]e/$ p>ty s t !
 tru/ee or o!r p]son _c be controll$ or 
influ5c$ 9 ! adm9i/ration ( ! tru/ by   
any int]e/$ p>ty2  7ii7 is n & has n be5
 an employee ( or affiliat$ ) any       
int]e/$ p>ty & is n a p>tn] (1 or       
involv$ 9 any jo9t v5ture or o!r        
inve/m5t )1 any int]e/$ p>ty2 &  7iii7  
is n a relative ( any int]e/$ p>ty4     
7,b7 ,any (fic] or employee ( a tru/ee  
or o!r entity :o is involv$ 9 !         
managem5t or control ( ! tru/--  7i7 is 
indep5d5t ( & n associat$ ) any int]e/$ 
p>ty s t su* (fic] or employee _c be    
controll$ or influ5c$ 9 ! adm9i/ration (
 ! tru/ by any int]e/$ p>ty2  7ii7 is n 
a p>tn] (1 or involv$ 9 any jo9t v5ture 
or o!r inve/m5t )1 any int]e/$ p>ty2 &  
7iii7 is n a relative ( any int]e/$     
p>ty4  7#b7 ,any asset transf]r$ to !   

tru/ by an int]e/$ p>ty is free ( any   
re/riction ) respect to its transf] (   
sale unless su* re/riction is expressly 
approv$ 9 writ+ by ! ,director ( !      
,(fice ( ,gov]nm5t ,e?ics4  7#c7 ,! tru/
 in/rum5t t e/abli%es ! tru/ provides   
t-- 7,a7 except to ! ext5t provid$ 9    
subp>agraph 7#b7 ( ?is subsection1 !    
tru/ee 9 ! ex]cise ( 8 au?ority &       
discretion to manage & control ! assets 
( ! tru/ %all n consult or notify any   
int]e/$ p>ty2  7,b7 ! tru/ %all n conta9
 any asset ! hold+ ( :i* by any int]e/$ 
p>ty is prohibit$ by any law or         
regulation2  7,c7 ! tru/ee %all promptly
 notify ! report+ individual & !        
,director ( ! ,(fice ( ,gov]nm5t ,e?ics 
:5 ! hold+s ( any p>ticul> asset        
transf]r$ to ! tru/ by any int]e/$ p>ty 
are dispos$ ( or :5 ! value ( su* hold+ 
is less ?an #a1jjj2  7,d7 ! tru/ tax    
return %all be prep>$ by ! tru/ee or 8  
designee1 & su* return & any in=mation  
relat+ !reto 7o!r ?an ! tru/ income     
summ>iz$ 9 appropriat$ categories       

necess>y to complete an int]e/$ p>ty's  
tax return71 %all n be disclos$ to any  
int]e/$ p>ty2  7,e7 an int]e/$ p>ty %all
 n receive any report on ! hold+s &     
s\rces ( income ( ! tru/1 except a      
report at ! end ( ea* cal5d> qu>t] )    
respect to ! total ca% value ( ! int]e/ 
( ! int]e/$ p>ty 9 ! tru/ or ! net      
income or loss ( ! tru/ or any reports  
necess>y to enable ! int]e/$ p>ty to    
complete an individual tax return       
requir$ by law1 b su* report %all n     
id5tify any asset or hold+2  7,f7 except
 = communications :i* solely consi/ (   
reque/s = di/ributions ( ca% or o!r     
unspecifi$ assets ( ! tru/1 !re %all be 
no direct or indirect communication     
betwe5 ! tru/ee & an int]e/$ p>ty )     
respect to ! tru/ unless su*            
communication is 9 writ+ 7a copy ( :i*  
%all be provid$ to ! ,director ( !      
,(fice ( ,gov]nm5t ,e?ics71 & unless x  
relates only 7i7 to ! g5]al f9ancial    
int]e/ & ne$s ( ! int]e/$ p>ty 7includ+1
 b n limit$ to1 an int]e/ 9 maximiz+    

income or long-t]m capital ga971 7ii7 to
 ! notification ( a tru/ee ( a law or   
regulation subsequ5tly applicable to !  
report+ individual :i* prohibits !      
int]e/$ p>ty f hold+ an asset1 :i*      
notification directs t ! asset n be held
 by ! tru/1 or 7iii7 to directions to ! 
tru/ee to sell all ( an asset initially 
plac$ 9 ! tru/ by an int]e/$ p>ty :i* 9 
! det]m9ation ( ! report+ individual    
creates a conflict ( int]e/ or !        
appe>ance !re( due to ! subsequ5t       
assumption ( duties by ! report+        
individual2 &  7,g7 ! int]e/$ p>ties    
%all make no ef=t to obta9 in=mation )  
respect to ! hold+s ( ! tru/1 includ+   
obta9+ a copy ( any tru/ tax return fil$
 or any in=mation relat+ !reto except z 
o!rwise provid$ 9 ?is subsection4  7#d7 
,! propos$ tru/ in/rum5t & ! propos$    
tru/ee are c]tifi$ 9 writ+ by !         
,director ( ! ,(fice ( ,gov]nm5t ,e?ics 
to be 9 compliance ) ! requirem5ts ( ?is
 section4 ,! ,director ( ! ,(fice (     
,gov]nm5t ,e?ics %all conduct an annual 

rec]tification ( ! tru/ in/rum5t &      
tru/ee to v]ify t !y rema9 9 compliance 
) ! requirem5ts ( ?is section4 ,if at   
any "t ! ,director ( ! ,(fice (         
,gov]nm5t ,e?ics det]m9es t ! tru/      
in/rum5t or tru/ee are no long] 9       
compliance ) requirem5ts ( ?is section1 
! ,director ( ! ,(fice ( ,gov]nm5t      
,e?ics %all notify ! ,committee on      
,ov]sight & ,gov]nm5t ,re=m ( ! ,h\se ( 
,repres5tatives & ! ,committee on       
,homel& ,security & ,gov]nm5tal ,affairs
 ( ! ,s5ate1 & provide writt5           
notification to ! int]e/$ p>ties t !y   
are no long] eligible = an exemption "u 
subsection 7b77#a7 until ! tru/ in/rum5t
 & tru/ee are rec]tifi$4  7#e7 ,= !     
purposes ( ?is subsection1 int]e/$ p>ty 
means ! ,presid5t or ,vice ,presid5t ( !
 ,unit$ ,/ates1 _! sp\se1 & any *ild2   
report+ individual means ! ,presid5t or 
,vice ,presid5t ( ! ,unit$ ,/ates2 brok]
 has ! mean+ set =? 9 section #c7;a77#d7
 ( ! ,securities ,ex*ange ,act ( #aicd  
7#ae ,u4,s4,c4 #gh;c7a77#d772 & inve/m5t

 advis] includes any inve/m5t advis] :o1
 z det]m9$ "u regulations prescrib$ by !
 ,(fice ( ,gov]nm5t ,e?ics1 is g5]ally  
involv$ 9 _! role z su* an advisor 9 !  
managem5t or control ( tru/s4  7#f7 ,any
 writt5 c]tification or notification    
made pursuant to subsection 7g7 %all be 
made available to ! public )9 #aj days (
 ! c]tification or notification be+     
made4  4  7b7 ,9 g5]al ,section #baf (  
title #ah1 ,unit$ ,/ates ,code1 is      
am5d$-- 7#a7 9 subsection 7a7 by ins]t+ 
#bjh;,a1 aft] #bjh12  7#b7 9 subsection 
7b7 by ins]t+ #bjh;,a1 aft] #bjh12 &    
7#c7 9 subsection 7c7 by ins]t+ #bjh;,a1
 aft] #bjh14  7c7 ,cl]ical am5dm5t ,!   
table ( sections at ! beg9n+ ( *apt] #aa
 ( title #ah1 ,unit$ ,/ates ,code1 is   
am5d$ by ins]t+ aft] ,sec4 #bjh4 ,acts  
affect+ a p]sonal f9ancial int]e/4 !    
foll[+ new item3  ,sec4 #bjh;,a4 ,acts  
affect+ a p]sonal f9ancial int]e/ ( !   
,presid5t or ,vice ,presid5t ( ! ,unit$ 
,/ates4  4  #c4 ,contracts by !         
,presid5t or ,vice ,presid5t ( ! ,unit$ 

,/ates  7a7 ,9 g5]al ,section #dca (    
title #ah1 ,unit$ ,/ates ,code1 is am5d$
 by ins]t+ ! ,presid5t or ,vice         
,presid5t ( ! ,unit$ ,/ates1 aft]       
,:oev]1 be+4