Prevent Corrupting Foreign Influence Act
This bill establishes new statutory restrictions on the receipt or acceptance of foreign gifts or things of value by the President, Vice President, or their immediate family members.
First, the bill creates a new criminal offense to generally prohibit the President, Vice President, an immediate family member of the President or Vice President, or an entity in which any of these individuals has at least a 50% ownership interest from accepting or receiving anything of value from a foreign state or entity. A violator is subject to criminal penalties—a fine, a prison term of up to five years, or both.
Second, the bill broadens the application of existing foreign gift restrictions on federal employees. Current law generally prohibits federal employees (including the President and Vice President) from receiving or soliciting foreign gifts. This bill further extends the restrictions to cover immediate family members of the President or Vice President. An immediate family member is a parent, parent-in-law, child, or sibling.
To amend title 18, United States Code, to prohibit corrupt foreign 
 influence over the President, the Vice President, and their immediate 
                family members, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Prevent Corrupting Foreign Influence 
Act''.

SEC. 2. FOREIGN INFLUENCE OVER THE PRESIDENT AND VICE PRESIDENT.

    (a) In General.--Chapter 11 of title 18, United States Code, is 
amended by adding at the end the following:
``Sec. 227A. Foreign influence over the President and Vice President
    ``(a) Prohibition.--Except as provided in subsection (b), whoever, 
being a covered person or covered entity, knowingly--
            ``(1) accepts anything of value from a foreign state or 
        foreign entity; or
            ``(2) receives anything of value from a foreign state or 
        foreign entity,
shall be fined under this title, imprisoned not more than 5 years, or 
both.
    ``(b) Exceptions.--Subsection (a) shall not apply--
            ``(1) in the case of any investment by a foreign state or 
        entity in a mutual fund, which includes a covered entity in its 
        portfolio;
            ``(2) in the case of any investment by a foreign state or 
        entity in an asset held in a blind trust on behalf of a covered 
        person;
            ``(3) in the case that the thing accepted or received is of 
        minimal value, and any other thing or things accepted or 
        received by such covered person or covered entity from such 
        foreign state or foreign entity during that calendar year do 
        not exceed minimal value; or
            ``(4) in any case in which the covered person acted in 
        accordance with section 7342 of title 5 or the Mutual Education 
        and Cultural Exchange Act of 1961 (22 U.S.C. 2451 et seq.).
    ``(c) Definitions.--In this section:
            ``(1) The term `covered person' means the President, Vice 
        President, and their immediate family members.
            ``(2) The term `covered entity' means any entity in which a 
        covered person has not less than a 50 percent ownership 
        interest.
            ``(3) The term `immediate family member' means, with 
        respect to the President or Vice President, a parent, parent-
        in-law, spouse, child, or sibling of the President or Vice 
        President.
            ``(4) The term `foreign entity' means any entity in which a 
        foreign state has not less than a 50 percent ownership 
        interest.
            ``(5) The term `minimal value' has the meaning given that 
        term in section 7342(a)(5) of title 5.''.
    (b) Clerical Amendment.--The table of sections for chapter 11 of 
title 18, United States Code, is amended by inserting after the item 
related to section 227 the following:

``227A. Foreign influence over the President and Vice President.''.

SEC. 3. RECEIPT AND DISPOSITION OF FOREIGN GIFTS AND DECORATIONS.

    Section 7342(a)(1) of title 5, United States Code, is amended--
            (1) in subparagraph (F), by striking ``and'' at the end; 
        and
            (2) by inserting after subparagraph (G) the following:
                    ``(H) a parent, parent-in-law, child, or sibling of 
                the President or Vice President.''.
                                 <all>
Prevent Corrupting Foreign Influence Act
To amend title 18, United States Code, to prohibit corrupt foreign influence over the President, the Vice President, and their immediate family members, and for other purposes.
Prevent Corrupting Foreign Influence Act
Rep. Swalwell, Eric