Financial Disclosure Modernization Act

This bill updates the financial disclosure thresholds for federal employees under Title 5, United States Code. It adds new reporting tiers for certain income types (like dividends and capital gains) and asset categories, setting specific dollar ranges starting at $5 million for income and $50 million for assets. For example, income over $5 million but under $25 million now requires reporting, and assets over $50 million but under $100 million must be disclosed. These changes apply to financial disclosure reports filed on or after the bill's enactment date. The bill directly affects federal employees required to submit financial disclosures, particularly those with significant financial interests.