Definitions

In this subtitle: (1) Emolument The term emolument means any profit, gain, or advantage, including any payment that is received directly or indirectly from any government of a foreign country, the Federal Government, or any State or local government, or from any instrumentality thereof. (2) Government of a foreign country The term government of a foreign country has the meaning given the term in section 1(e) of the Foreign Agents Registration Act of 1938, as amended (22 U.S.C. 611(e)). (3) Payment The term payment — (A) means the direct or indirect provision of anything of value, including any tangible item; and (B) includes any direct or indirect payment in any form arising from a commercial transaction of any kind, including any payment involving a Presidentially-owned entity, whether or not at fair market value. (4) Person holding any office of profit or trust under the United States The term person holding any office of profit or trust under the United States includes— (A) the President; and (B) the Vice President. (5) Presidentially-owned entity The term Presidentially-owned entity means a corporation, association, partnership, limited liability company, limited liability partnership, other legal entity, or sole proprietorship in which the President has an ownership stake, except that such term does not include an entity in which more than 100 people have an ownership stake and the President holds no more than five percent in a beneficial ownership stake and that— (A) issues securities registered with the Securities and Exchange Commission pursuant to section 12 of the Securities Exchange Act of 1934 (15 U.S.C. 78l); (B) is an investment company registered pursuant to section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a–8) that does not have a stated policy of concentrating the investments of the investment company in any industry, business, single country other than the United States, or bonds of a single State within the United States; or (C) is a unit investment trust, as defined in section 4 of the Investment Company Act of 1940 (15 U.S.C. 80a–4) that— (i) is a regulated investment company, as defined in section 851 of the Internal Revenue Code of 1986; and (ii) does not have a stated policy of concentrating the investments of the investment company in any industry, business, single country other than the United States, or bonds of a single State within the United States. (6) State The term State means each of the several States of the United States, the District of Columbia, or any territory or possession of the United States. (7) Covered official The term covered official means— (A) any individual (other than an individual nominated for appointment to a position as a Foreign Service Officer or a grade or rank in the uniformed services for which the pay grade prescribed by section 201 of title 37 is O–6 or below)— (i) nominated by the President for a position the appointment to which requires the advice and consent of the Senate; or (ii) whom the President-elect has publicly announced an intent to nominate to such a position; and (B) any individual occupying— (i) a position described under sections 5312 through 5316 of title 5, United States Code (relating to the Executive Schedule); (ii) a noncareer appointment in the Senior Executive Service, as defined under section 3132(a) of such title 5; (iii) a position in the executive branch of the Government of a confidential or policy-determining character under schedule C of subpart C of part 213 of title 5, Code of Federal Regulations; or (iv) a position in the Executive Office of the President pursuant to an appointment other than a career or career-conditional appointment.