,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #cbie  ,,in ,,the ,,house ,,of  
,,representatives  ,july #ai1 #bjag,ms4 
,maxine ,waters of ,california 7for     
herself1 ,mr4 ,conyers1 and ,ms4        
,velzquez7 introduced the following     
bill2 which was referred to the         
,committee on ,oversight and ,government
 ,reform  ,a ,,bill  ,to require the    
,president1 the ,vice ,president1 and   
certain high-level officials to file a  
report with the ,office of ,government  
,ethics1 when selling real property1    
disclosing each natural person who is a 
beneficial owner of the real property   
upon completion of the sale1 and for    
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,end ,secret   
,holdings and ,ethical and ,legal       
,loopholes ,act of #bjag or the ,end    
,s,h,e,l,ls ,act4  #b4 ,beneficial      
ownership reporting requirement  7a7 ,in
 general ,section #ajc of the ,ethics in
 ,government ,act of #aigh 7#e ,u4,s4,c4
 ,app4 #ajc7 is amended by adding at the

 end the following3  7m7  7#a7 ,not     
later than #cj days after the sale of   
real property by the ,president1 the    
,vice ,president1 or any high-level     
official 7whether such sale is made     
directly or indirectly through a trust1 
corporation1 or other legal entity or   
through a nominee1 agent1 spouse1 or    
minor child71 the ,president1 ,vice     
,president1 or high-level official1 as  
applicable1 shall file a report with the
 ,director of the ,office of ,government
 ,ethics with respect to such sale1     
identifying the name and current        
residential or business street address  
of each natural person who is a         
beneficial owner of the real property   
upon completion of the sale4  7#b7 ,the 
,director of the ,office of ,government 
,ethics shall make all reports filed    
pursuant to this subsection available to
 the public1 including on the website of
 the ,office of ,government ,ethics4    
7#c7 ,for purposes of this subsection-- 
7,a7 with respect to real property1 the 

term beneficial owner--  7i7 except as  
provided under clause 7ii71 means a     
natural person who1 directly or         
indirectly-- 7,i7 exercises substantial 
control over the real property1 through 
ownership interests1 voting rights1     
agreement1 or otherwise2 or  7,,ii7 has 
a substantial interest in or receives   
substantial economic benefits from the  
real property2 and  7ii7 does not       
include--  7,i7 a minor child2  7,,ii7 a
 natural person acting as a nominee1    
intermediary1 custodian1 or agent on    
behalf of another person2  7,,iii7 a    
natural person acting solely as an      
employee of a corporation or limited    
liability company and whose control over
 or receipt of economic benefits from   
the real property derives solely from   
the employment status of the person2    
7,,iv7 a natural person whose only      
interest in the real property is through
 a right of inheritance1 unless the     
natural person also meets the           
requirements of paragraph 7#a72 or  7,v7

 a creditor of a person1 unless the     
creditor also meets the requirements of 
paragraph 7#a72 and  7,b7 the term      
high-level official--  7i7 means-- 7,i7 
any officer occupying a position listed 
in section #ecab or section #ecac of    
title #e1 ,united ,states ,code1 having 
been nominated by the ,president and    
confirmed by the ,senate to that        
position2 and  7,,ii7 any individual    
appointed by the ,president or ,vice    
,president to a full-time non-career    
position in the ,executive ,office of   
the ,president2 and  7ii7 does not      
include any individual appointed as a   
member of the ,senior ,foreign ,service 
or solely as a uniformed service        
commissioned officer4  4  7b7 ,failure  
,to file or filing false reports        
,section #ajd of the ,ethics in         
,government ,act of #aigh 7#e ,u4,s4,c4 
,app4 #ajd7 is amended by striking      
section #ajb each place such term       
appears and inserting section #ajb or   
#ajc7m74  7c7 ,effective date ,section  

#ajc7m7 of the ,ethics in ,government   
,act of #aigh1 as added by subsection   
7a71 shall apply to sales of real       
property occurring after the date of the
 enactment of this ,act4