LETTER TO HONORABLE ABRAHAM RIBICOFF FROM VERNON A. WALTERS

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP78M02660R000800040044-9
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 4
• Document Creation Date: December 19, 2016
• Document Release Date: July 14, 2005
• Sequence Number: 44
• Publication Date: January 29, 1976
• Content Type: LETTER

OLC 76-0206/c
Approved F(9rRgl Ee 4WLIOL1 tg4t-@CR(? 60R000800040044-9
WASHINGTON,D.C. 20505
2 9 JAN 1976
Honorable Abraham Ribicoff, Chairman
Committee on Government Operations
United States Senate
Washington, D.C. 20510
Four bills before the Committee on Government Operations would
require large numbers of Federal employees, including certain employees
of the Central Intelligence Agency, to file annual financial statements with
the Comptroller General or a proposed Commission on Conduct. The four
bills are S. 192, S. 2036, S. 2098,,tand S. 2295. The most inclusive of these
bills, S. 2036, would require statements from all employees earning in excess
of $20,000 per year. S. 2036 would require the statement to include:
(a) the amount of gross and taxable income, total tax deductions,
tax liability, and Federal tax paid for the preceding calendar year;
(b) the amount and source of each item of income or gift ex-
ceeding $100 in value;
(c) the value of each asset held by the employee or held jointly
with his/her spouse and the value of each liability held solely or
jointly with his/her spouse which exceeds $1, 000 in amount;
(d) any transactions in securities exceeding $1,000 in value;
(e) any transactions in commodities exceeding $1, 000 in value; and.
(f) any purchase or sale of real property exceeding $1, 000 in
value, except the purchase or sale of the employee's personal residence.
The Comptroller General is directed to prescribe the form and detail required
of the reports, which are to be available to the public under regulations
promulgated by the Comptroller General, Willfully failing to file a report
or willfully filing a false report will subject an employee to a potential
penalty of five years imprisonment and a $2,000 fine.