February 11, 2026
Mr. Schiff (for himself, Mrs. Gillibrand, Mr. Blumenthal, and Mr. Merkley) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs
To modify reporting value categories for financial disclosure reports required under chapter 131 of title 5, United States Code.
Section 1. Short title
This Act may be cited as the Financial Disclosure Modernization Act
.
Sec. 2. Dividends, rents, interest, and capital gains
Section 13104(a)(1)(B) of title 5, United States Code, is amended—
(1)
in clause (viii), by striking or
; and
(2)
by striking clause (ix) and inserting the following:
(ix)
greater than $5,000,000 but not more than $25,000,000;
(x)
greater than $25,000,000 but not more than $100,000,000;
(xi)
greater than $100,000,000 but not more than $500,000,000;
(xii)
greater than $500,000,000 but not more than $1,000,000,000; or
(xiii)
greater than $1,000,000,000.
Sec. 3. Categories for reporting amounts or values
Section 13104(d)(1) of title 5, United States Code, is amended—
(1)
in subparagraph (I), by striking and
; and
(2)
by striking subparagraph (J) and inserting the following:
(J)
greater than $50,000,000 but not more than $100,000,000;
(K)
greater than $100,000,000 but not more than $250,000,000;
(L)
greater than $250,000,000 but not more than $500,000,000;
(M)
greater than $500,000,000 but not more than $1,000,000,000; and
(N)
greater than $1,000,000,000.
Sec. 4. Effective date
The amendments made by this Act shall apply with respect to financial disclosure reports under chapter 131 of title 5, United States Code, that are required to be filed on or after the date of the enactment of this Act.