Presidential Conflicts of Interest Accountability Act

This bill, titled the "Presidential Conflicts of Interest Accountability Act," aims to enhance transparency and prevent conflicts of interest for the nation's highest elected officials. It mandates that the President and Vice President, as well as their spouses and dependent children, submit a detailed disclosure of their financial interests within 30 days of taking office. This disclosure must include information comparable to other federal officials' reports and, notably, requires the submission of their tax returns for the three most recent taxable years, plus any currently under IRS audit. A core provision of the bill requires the President, Vice President, and their immediate family to divest any financial interest that poses a potential conflict of interest. Such interests must be transferred to a qualified blind trust , with the trustee obligated to sell the conflicting assets within 30 days and either purchase conflict-free holdings or return the proceeds. The Office of Government Ethics (OGE) is tasked with annual oversight, reporting to Congress on compliance, identifying potential conflicts, and evaluating whether divestment has occurred as required. Enforcement mechanisms allow the Attorney General or state attorneys general to seek declaratory or injunctive relief if there is probable cause of non-compliance, ensuring fair market value for any liquidated assets. The bill also specifies that sitting Presidents and Vice Presidents must comply with these disclosure requirements within 30 days of the act's enactment, and the OGE must issue implementing rules within 180 days.