Title 40Public Buildings, Property, and WorksRelease 119-73

§15306 Personal financial interests

Title 40 › Subtitle SUBTITLE V— - REGIONAL ECONOMIC AND INFRASTRUCTURE DEVELOPMENT › Chapter CHAPTER 153— - REGIONAL COMMISSIONS › § 15306

Last updated Apr 6, 2026|Official source

Summary

People who serve on a Commission must not take part in any Commission decision or matter when they know they, their spouse, minor child, partner, an organization where they serve as an officer/director/trustee/partner/employee (but not a State or political subdivision of a State), or a person or group they are negotiating with about a job, has a financial interest. They can only join the matter if they tell the Commission beforehand about the conflict, fully disclose the financial interest, and get a written decision from the Commission saying the interest is not likely to affect their service. Anyone who breaks this rule may be fined under title 18, imprisoned for not more than 1 year, or both. State members and alternates may only be paid by their State. People detailed to a Commission may only be paid by the agency that sent them; breaking these pay rules carries the same fine and jail penalty. The Federal Cochairman, the alternate to the Federal Cochairman, and federal officers or employees detailed to the Commission are not covered by these rules but remain subject to sections 202 through 209 of title 18. The Commission may void any contract, loan, or grant tied to a violation.

Full Legal Text

Title 40, §15306

Public Buildings, Property, and Works — Source: USLM XML via OLRC

(a)(1)Except as permitted by paragraph (2), an individual who is a State member or alternate, or an officer or employee of a Commission, shall not participate personally and substantially as a member, alternate, officer, or employee of the Commission, through decision, approval, disapproval, recommendation, request for a ruling, or other determination, contract, claim, controversy, or other matter in which, to the individual’s knowledge, any of the following has a financial interest:
(A)The individual.
(B)The individual’s spouse, minor child, or partner.
(C)An organization (except a State or political subdivision of a State) in which the individual is serving as an officer, director, trustee, partner, or employee.
(D)Any person or organization with whom the individual is negotiating or has any arrangement concerning prospective employment.
(2)Paragraph (1) shall not apply if the individual, in advance of the proceeding, application, request for a ruling or other determination, contract, claim controversy, or other particular matter presenting a potential conflict of interest—
(A)advises the Commission of the nature and circumstances of the matter presenting the conflict of interest;
(B)makes full disclosure of the financial interest; and
(C)receives a written decision of the Commission that the interest is not so substantial as to be considered likely to affect the integrity of the services that the Commission may expect from the individual.
(3)An individual violating this subsection shall be fined under title 18, imprisoned for not more than 1 year, or both.
(b)A State member or alternate member may not receive any salary, or any contribution to, or supplementation of, salary, for services on a Commission from a source other than the State of the member or alternate.
(c)(1)No person detailed to serve a Commission shall receive any salary, or any contribution to, or supplementation of, salary, for services provided to the Commission from any source other than the State, local, or intergovernmental department or agency from which the person was detailed to the Commission.
(2)Any person that violates this subsection shall be fined under title 18, imprisoned not more than 1 year, or both.
(d)The Federal Cochairman, the alternate to the Federal Cochairman, and any Federal officer or employee detailed to duty with the Commission are not subject to this section but remain subject to sections 202 through 209 of title 18.
(e)A Commission may declare void any contract, loan, or grant of or by the Commission in relation to which the Commission determines that there has been a violation of any provision under subsection (a)(1), (b), or (c), or any of the provisions of sections 202 through 209 of title 18.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification Pub. L. 110–234 and Pub. L. 110–246 enacted identical sections. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective on the first day of the first fiscal year beginning after June 18, 2008, see section 14217(d) of Pub. L. 110–246, set out as a note under section 15101 of this title.

Reference

Citations & Metadata

Citation

40 U.S.C. § 15306

Title 40Public Buildings, Property, and Works

Last Updated

Apr 6, 2026

Release point: 119-73