Public Law 116-78 | Public Law 116–78: To amend section 442 of title 18, United States Code, to exempt certain interests in mutual funds, unit investment trusts, employee benefit plans, and retirement plans from conflict of interest limitations for the Government Publishing Office.

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PUBLIC LAW 116–78—DEC. 5, 2019

133 STAT. 1175

Public Law

116–78

116th Congress

An Act

To amend section 442 of title 18, United States Code, to exempt certain interests in mutual funds, unit investment trusts, employee benefit plans, and retirement plans from conflict of interest limitations for the Government Publishing Office.

Dec. 5, 2019

[H.R. 5277]

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1.

GOVERNMENT PUBLISHING OFFICE.

(a)

In General.—

Section 442 of title 18, United States Code,

is amended

to read as follows:

“§ 442.

Government Publishing Office

“(a)

Definitions.—

In this section—

“(1)

the terms ‘diversified’, ‘employee benefit plan’, ‘holdings’, ‘mutual fund’, and ‘unit investment trust’ have the meanings given those terms under section 2640.102 of title 5, Code of Federal Regulations, or any successor thereto; and

“(2)

the term ‘

printing-related interest

’ means an interest, direct or indirect, in—

“(A)

the publication of any newspaper or periodical;

“(B)

any printing, binding, engraving, or lithographing of any kind; or

“(C)

any contract for furnishing paper or other material connected with the public printing, binding, lithographing, or engraving.

“(b)

Offense.—

“(1)

In general.—

Except as provided in paragraph (2), the Director of the Government Publishing Office, Deputy Director of the Government Publishing Office, nor any of their assistants as determined by the Director of the Government Publishing Office shall not, during his or her continuance in office, have any printing-related interest.

“(2)

Exception for mutual funds, unit investment trusts, employee benefit plans, and retirement plans.—

It shall not be a violation of paragraph (1) for an individual who is described in such paragraph to have an interest in a diversified mutual fund, diversified unit investment trust, employee benefit plan, investment fund under the Thrift Savings Plan under subchapter III of chapter 84 of title 5, or pension plan established or maintained by a State government or any political subdivision of a State government for its employees that has 1 or more holdings that are printing-related interests if the fund, trust, or plan does not exhibit a practice of concentrating in printing-related interests.133 STAT. 1176

“(3)

Authority of supervising ethics office.—

The supervising ethics office for the Government Publishing Office under the Ethics in Government Act of 1978 (5 U.S.C. App.) shall have the authority to issue rules and promulgate regulations governing the implementation of this subsection.

“(c)

Penalty.—

Whoever violates subsection (b)(1) shall be fined under this title, imprisoned for not more than 1 year, or both.”

(b)

Technical and Conforming Amendment.—

The table of sections for chapter 23 of title 18, United States Code,

18 USC 431 prec.

is amended

striking

the item relating to section 442 and

inserting

the following:

“442.

Government Publishing Office.”.

Approved December 5, 2019.

LEGISLATIVE HISTORY—H.R. 5277:

CONGRESSIONAL RECORD, Vol. 165 (2019):

Dec. 3, considered and passed House.

Dec. 4, considered and passed Senate.

○

Public Law 116–78: To amend section 442 of title 18, United States Code, to exempt certain interests in mutual funds, unit investment trusts, employee benefit plans, and retirement plans from conflict of interest limitations for the Government Publishing Office.