Congress Passes Bill Limiting Online Posting Requirement of the STOCK Act; Bill Heads to President

Congress has passed a bill that, among other things, would limit the STOCK Act’s requirement for online posting of public financial disclosure reports that is set to go into effect on April 15, 2013.

If enacted by the President, the bill (S. 716) would limit the STOCK Act’s online posting requirement to the President, the Vice President, and any officer occupying a position at Levels I and II of the Executive Schedule as defined by 5 U.S.C. §§ 5312 and 5313. Approximately 67 officials in the Executive Branch hold such positions.

The bill would also extend the date by which OGE must develop systems to enable the electronic filing of public reports to January 1, 2014, and would eliminate the requirement that the systems allow searching, sorting and downloading of data contained in the reports.

The bill will now proceed to the President for his consideration.

You can access the full text of S. 716 at: http://thomas.loc.gov/cgi-bin/query/z?c113:S.716: 

Posted on April 12, 2013