Bill · S. 3827· Senate(119-S-3827)
Financial Disclosure Modernization Act
- Introduced
- 2/11/2026
- Last activity
- 2/11/2026 — Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
- Sponsored by
- Adam Schiff
- Cosponsors
- - 3 - 0
- Introduced
- In Committee
What this bill would do
The Financial Disclosure Modernization Act seeks to modify reporting value categories for financial disclosure reports required under title 5 of the United States Code. The bill specifically amends how dividends, rents, interest, and capital gains are reported. It also updates the categories used for reporting specific amounts or values. These changes establish new higher-value tiers for financial disclosures. The amendments take effect for reports required to be filed on or after the date of the Act's enactment.
Yes
Does this make what the government does easier for the public to see?+5
The bill expands the granularity of financial disclosure tiers for extremely high-value assets and income.
The opposite· 3 of 4
Would high-income households be better off under this?-2
The new tiers may aggregate very high income amounts into single reporting categories.
Would people with substantial wealth be better off under this?-2
The bill modifies how exceptionally high asset values are categorized in public disclosures.
Would the very wealthiest people be better off under this?-2
The bill introduces broader reporting ranges for assets exceeding hundreds of millions of dollars.
Who it would affect, and how
Potential Positive Impacts for People
-
Updated reporting tiers for income: Section 2 modifies the clauses for dividends, rents, interest, and capital gains to include new tiers such as greater than $5,000,000 up to $1,000,000,000 and more than $1,000,000,000.
-
Updated reporting tiers for assets: Section 3 modifies the categories for reporting amounts or values to include new tiers ranging from greater than $50,000,000 up to more than $1,000,000,000.
Potential Negative Impacts for People
- No specific negative impacts or burdens are explicitly mentioned in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Billionaires-2Good For High Income Households-2Good For High Net Worth Individuals-2Good For Ultra High Net Worth Individuals-2
- Governance And Ideology
- Improves Government Transparency+5
- 2/11/2026
- Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
- 3 Cosponsors added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Richard BlumenthalDemocrat · Connecticut
Kirsten GillibrandDemocrat · New York
Jeff MerkleyDemocrat · Oregon