• Federally elected officials shall be required to file comprehensive financial disclosures on a quarterly basis, utilizing standardized, detailed, and itemized disclosure forms provided by the oversight body.
• Quarterly filing deadlines shall be as follows:
• Q1 (January 1 - March 31) - Due by April 15th
• Q2 (April 1 - June 30) - Due by July 15th
• Q3 (July 1 - September 30) - Due by October 15th
• Q4 (October 1 - December 31) - Due by January 15th of the following year.
• Disclosures shall include, but not be limited to:
• A detailed breakdown of all income sources, including salary, investments, and business income.
• A comprehensive list of assets, including real estate, vehicles, and financial holdings.
• Detailed lists of liabilities, loans, and financial obligations.
• A complete inventory of investments, including stocks, bonds, and mutual funds.
• Full details of any ownership interests in businesses or entities.
• Failure to file quarterly disclosures on time or failure to file at all shall result in a penalty of $20,000 per violation, payable within 30 days of notification.
• Elected officials may request extensions for filing due to exceptional circumstances, as determined by the oversight body.