From the Office of Government Ethics, February 11, 2008
 
Ethics Act Statutory Increase in Gifts/Reimbursements Reporting Threshold, Retroactive to Jan. 1, 2008, Based on GSA's Raising of Foreign Gifts "Minimal Value"; Separate Future OGE Rulemaking

Minimal Gift:  The General Services Administration (GSA) has raised "minimal value" as defined under the Foreign Gifts and Decorations Act from "$305 or less" to "$335 or less" for the three-year period 2008 to 2010.  See 73 Federal Register 7475 (Feb. 8, 2008).  Under that law, GSA's new regulatory redefinition of minimal value is retroactively effective to January 1, 2008.  This change impacts both the public SF 278 and confidential OGE Form 450 financial disclosure reports for the coming three years.  Section 102(a)(2)(A) and (B) of the Ethics Act directly ties the SF 278 reporting thresholds for gifts and reimbursements received to such periodic increases as a matter of law.  The new reporting thresholds, effective January 1, 2008, are "more than $335" for the aggregate threshold for gifts and reimbursements from any one source, with a de minimis exception of "$134 or less" for such items that do not need to be counted towards the aggregate threshold.  By regulation, the Office of Government Ethics applies the same thresholds to OGE Form 450 reports.  The increased thresholds do not apply to the calendar year 2007 annual incumbent financial disclosure reports due this year.  However, they will apply to any gifts/reimbursements received in 2008 as reported on SF 278 termination reports filed from now on.

Value for WAGs: OGE is working on a rulemaking to retroactively conform its financial disclosure regulation at 5 C.F.R. §§ 2634.304 and 2634.907(g) to the new Ethics Act gifts/reimbursements thresholds.  As in the past, the OGE rule will also adjust, solely as a matter of regulation, the nonsponsor ceiling for the widely attended gatherings gifts exception in 5 C.F.R. § 2635.204(g) of the ethical conduct standards regulation.  That regulatory standards change will take effect when OGE's rule is published in the Federal Register, not retroactively.

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