55 FR 14407: Public Financial Disclosure, Conflicts of Interest, and Certificates of Divestiture for Executive Branch Officials

This interim regulation implements a provision of the Ethics Reform Act of 1989 which provides for tax-deferral in the case of the sale of property to comply with conflict-of-interest requirements. The regulation announces the Office of Government Ethics' interim procedure for issuing Certificates of Divestiture authorizing such sales, and defines the permitted property into which the proceeds from such sales must be reinvested. The Federal purpose reflected in section 1043 of the Internal Revenue Code and these rules is to minimize the burden of Government service resulting from gain on the sale of assets for which divestitute is reasonably necessary because of the conflict of interest laws, in order to attract and retain desirable personnel in the executive branch and to ensure the confidence of the public in the integrity of Government officials and the Government's decisional processes.

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