,,ii #aaith ,,congress #ast ,session ,s4 #bfhj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,august #b1 #bjbe ,mr4 ,cornyn 7for himself1 ,mrs4 ,fischer1 ,mr4 ,wicker1 ,mr4 ,budd1 ,mr4 ,kennedy1 ,mr4 ,ricketts1 and ,mr4 ,daines7 introduced the following bill2 which was read twice and referred to the ,committee on the ,judiciary ,a ,,bill ,to establish sentencing enhancements for offenses relating to bank1 mortgage1 credit1 and tax fraud committed by elected public officials1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,law ,enforcement ,tools to ,interdict ,troubling ,investments in ,abodes ,act or the ,,letitia ,act4 #b4 ,findings ,it is the sense of ,congress that3 7#a7 ,in the ,united ,states1 citizens elect civic and political leaders to represent their interests and act on their behalf4 7#b7 ,in return for being given this sacred trust1 public officials are expected to fully adhere to the highest ethical and moral standards1 and must discharge their duties faithfully1 honestly1 and impartially1 free from any personal considerations or gain4 7#c7 ,public service is a public trust1 and the ,government only functions when there is trust between the electorate and public officials4 7#d7 ,when public officials abuse the faith that citizens place in them by committing crimes of dishonesty or moral turpitude1 they betray both their office and the public1 and deserve heightened punishment4 7#e7 ,fraud is1 at its core1 a crime of dishonesty4 7#f7 ,mortgage1 bank1 credit1 and tax frauds require deception and lies1 and harm the victim financial institutions1 investors1 and the broader public4 7#g7 ,therefore1 public officials who commit these crimes deserve punishments above and beyond what a normal citizen should receive4 7#h7 ,such punishment must include mandatory minimum sentences of imprisonment for any public official to ensure that they cannot abuse their positions of influence to cut sweetheart or backroom deals that the average citizen would be unable to make4 7#i7 ,if a public official commits multiple frauds1 demonstrating a pattern and practice of dishonest1 unethical1 and illegal behavior1 justice demands that the public official should face even harsher mandatory penalties4 7#aj7 ,no person is above the law1 and public officials who commit fraud must be held to account4 ,integrity matters4 #c4 ,enhanced penalties for public officials who commit bank fraud ,section #acdd of title #ah1 ,united ,states ,code1 is amended-- 7#a7 in the matter preceding paragraph 7#a71 by striking ,whoever knowingly executes1 or attempts to execute1 and inserting the following3 7a7 ,offense ,it shall be unlawful to knowingly execute1 or attempt to execute1 2 7#b7 in subsection 7a77#b71 as so designated by paragraph 7#a71 by striking the semicolon at the end and inserting a period2 7#c7 by striking shall be fined not more than #a1jjj1jjj or imprisoned not more than #cj years1 or both42 and 7#d7 by adding at the end the following3 7b7 ,penalty 7#a7 ,in general ,except as provided in paragraph 7#b71 a person convicted of a violation of subsection 7a7 shall be fined not more than #a1jjj1jjj1 imprisoned not more than #cj years1 or both4 7#b7 ,public official 7,a7 ,definition ,in this paragraph1 the term public official means an officer1 employee1 elected or appointed representative of1 or an individual acting for or on behalf of1 the ,united ,states1 a ,state1 or a subdivision of a ,state1 or any department1 agency1 or branch of government1 in any official function1 under or by the authority of any such department1 agency1 or branch of government4 7,b7 ,enhanced penalties ,in the case of an individual who is a public official at the time of an offense described in subsection 7a7-- 7i7 if the offense is the first or second such offense1 the individual shall be fined not more than #a1ejj1jjj and imprisoned not less than #a year and not more than #ce years2 and 7ii7 if the offense is the third or subsequent such offense1 the individual shall be fined not more than #b1jjj1jjj and imprisoned not less than #e years and not more than #dj years4 4 #d4 ,enhanced penalties for public officials who falsify loan and credit applications ,section #ajad of title #ah1 ,united ,states ,code1 is amended-- 7#a7 by striking ,whoever knowingly and inserting3 7a7 ,offense ,whoever knowingly 2 7#b7 by striking shall and all that follows1 and inserting shall be punished as provided in subsection 7b742 and 7#c7 by adding at the end the following3 7b7 ,penalty 7#a7 ,in general ,except as provided in paragraph 7#b71 a person convicted of a violation of subsection 7a7 shall be fined not more than #a1jjj1jjj1 imprisoned not more than #cj years1 or both4 7#b7 ,public officials ,in the case of an individual who is a public official at the time of an offense described in subsection 7a7-- 7,a7 if the offense is the first or second such offense1 the individual shall be fined not more than #a1ejj1jjj and imprisoned not less than #a year and not more than #ce years2 and 7,b7 if the offense is the third or subsequent such offense1 the individual shall be fined not more than #b1jjj1jjj and imprisoned not less than #e years and not more than #dj years4 7c7 ,definitions ,in this section3 7#a7 ,public official ,the term public official means an officer1 employee1 elected or appointed representative of1 or an individual acting for or on behalf of1 the ,united ,states1 a ,state1 or a subdivision of a ,state1 or any department1 agency1 or branch of government1 in any official function1 under or by the authority of any such department1 agency1 or branch of government4 7#b7 ,state-chartered credit union ,the term ,state-chartered credit union includes a credit union chartered under the laws of a ,state of the ,united ,states1 the ,district of ,columbia1 or any commonwealth1 territory1 or possession of the ,united ,states4 4 #e4 ,enhanced penalties for public officials who falsify tax filings ,section #gbjf of the ,internal ,revenue ,code of #aihf is amended-- 7#a7 by striking ,any person and inserting the following3 7a7 ,in general ,any person 1 and 7#b7 by adding at the end the following new subsection3 7b7 ,enhanced penalty for public officials 7#a7 ,in general ,in the case of an individual who is a public official at the time of an offense described in subsection 7a7-- 7,a7 if the offense is the first or second such offense1 subsection 7a7 shall be applied-- 7i7 by substituting #aej1jjj for #ajj1jjj1 and 7ii7 by substituting not less than #f months and not more than #e years for not more than #c years1 and 7,b7 if the offense is the third or subsequent such offence1 subsection 7a7 shall be applied-- 7i7 by substituting #bjj1jjj for #ajj1jjj1 and 7ii7 by substituting not less than #b years and not more than #aj years for not more than #c years4 7#b7 ,public official ,for purposes of this subsection1 the term public official means an officer1 employee1 elected or appointed representative of1 or an individual acting for or on behalf of1 the ,united ,states1 a ,state1 or a subdivision of a ,state1 or any department1 agency1 or branch of government1 in any official function1 under or by the authority of any such department1 agency1 or branch of government4 4 #f4 ,public integrity enforcement guidance for the department of justice and the department of the treasury 7a7 ,directive to ,department of ,justice ,law ,enforcement ,officials and ,task ,forces 7#a7 ,in general ,not later than #ij days after the date of enactment of this ,act1 the ,attorney ,general shall issue a directive to-- 7,a7 all ,federal law enforcement officers and relevant personnel employed by the ,department of ,justice who may be involved in the investigation of bank fraud and falsification of loan and credit applications2 and 7,b7 members of all task forces led by the ,department of ,justice or a component thereof that participate in the investigation of bank fraud and falsification of loan and credit applications4 7#b7 ,required instructions ,the directive required to be issued under paragraph 7#a7 shall include instructions on-- 7,a7 the updates made by this ,act to sections #ajad and #acdd of title #ah1 ,united ,states ,code2 and 7,b7 the investigation of public officials who commit bank fraud and falsification of loan and credit applications and how such individuals should be investigated for such acts4 7b7 ,directive to ,department of ,treasury ,officials 7#a7 ,in general ,not later than #ij days after the date of enactment of this ,act1 the ,secretary of the ,treasury1 in consultation with the ,attorney ,general1 shall issue a directive to-- 7,a7 all ,federal law enforcement officers and relevant personnel employed by the ,department of the ,treasury who may be involved in the investigation of falsified tax filings2 and 7,b7 members of all task forces led by the ,department of the ,treasury or a component thereof that participate in the investigation of falsified tax filings4 7#b7 ,required instructions ,the directive required to be issued under paragraph 7#a7 shall include instructions on-- 7,a7 the updates made by this ,act to section #gbjf of the ,internal ,revenue ,code of #aihf2 7,b7 the investigation of public officials who falsify tax filings and how such individuals should be investigated for such acts2 and 7,c7 best practices for collaborating with the ,department of ,justice and components thereof in the investigation and prosecution of public officials who falsify tax filings4 #g4 ,effective date ,the amendments made by this ,act shall apply to convictions after the date of enactment of this ,act4