1. Short title This Act may be cited as the Congressional Oversight Needed For Likely Illicit and Corrupt Transactions Act . 2. Notification of recusal (a) In general Title I of the Ethics in Government Act of 1978 ( 5 U.S.C. App. 101 et seq.) is amended by adding after section 111 the following: 112. Recusal for conflicts of interest (a) An officer or employee of the Executive Office of the President or the White House who is recused from a particular matter by operation of section 208 of title 18, United States Code, shall, not later than 10 business days after such recusal, provide notification (in writing) of such recusal and the specific reasons for the recusal to— (1) the Director of the Office of Government Ethics; (2) the Committee on Oversight and Government Reform of the House of Representatives; and (3) the Committee on Homeland Security and Governmental Affairs of the Senate. (b) With respect to any instance in which an officer or employee of the Executive Office of the President or the White House notifies the designated agency ethics official of a future particular matter that may require recusal under section 208 of title 18, United States Code, the officer or employee shall provide a report to the entities listed in paragraphs (1), (2), and (3) of subsection (a) that describes— (1) the particular matter; (2) whether the designated agency ethics official advised the officer or employee that the officer or employee should not participate in the particular matter; and (3) whether the particular matter occurred. . (b) Application The amendment made by subsection (a) shall apply to any recusal pursuant to section 208 of title 18, United States Code, occurring on or after the date of enactment of this Act.