Penalty for STOCK Act noncompliance

(a) Fines for failure To report (1) In general The STOCK Act (Public Law 112–105; 126 Stat. 291; 126 Stat. 1310; 127 Stat. 438; 132 Stat. 4167) is amended by adding at the end the following: 20. Fines for failure to report (a) In general Notwithstanding any other provision of law (including regulations), a reporting individual shall be assessed a fine, pursuant to regulations issued by the applicable supervising ethics office (including the Administrative Office of the United States Courts, as applicable), of $500 in each case in which the reporting individual fails to file a transaction report required under this Act or an amendment made by this Act. (b) Deposit in the Treasury The fines paid under this section shall be deposited in the miscellaneous receipts of the Treasury.. (2) Effective date The amendments made by paragraph (1) shall take effect on the date on which the reporting individual who is a Member of Congress commences the first new term of service as a Member of Congress on or after January 31, 2023. (b) Rules, regulations, guidance, and documents Not later than 1 year after the date of enactment of this Act, each supervising ethics office (as defined in section 2 of the STOCK Act (5 U.S.C. App. 101 note)) (including the Administrative Office of the United States Courts, as applicable) shall amend the rules, regulations, guidance, documents, papers, and other records of the supervising ethics office in accordance with the amendment made by this section.