The bill, titled the Law Enforcement Tools to Interdict Troubling Investments in Abodes—or the LETITIA Act—is named after New York Attorney General Letitia James.

According to the bill’s summary, the LETITIA Act would establish mandatory minimum sentences for public officials convicted of various forms of financial fraud.

Those found guilty of bank or loan fraud would face a minimum of one year in prison, while tax fraud convictions would carry a minimum six-month sentence.

Repeat offenders who engage in a pattern of fraudulent conduct would face up to five years in prison.

The introduction of the legislation follows recent scrutiny of high-profile Democratic officials, including Attorney General Letitia James and Senator Adam Schiff (D-CA). James is reportedly under federal investigation for alleged mortgage fraud.

Schiff has been accused by businessman Bill Pulte of falsifying bank documents and misrepresenting the status of primary residences in order to secure more favorable mortgage terms across multiple states.

Schiff has not responded publicly to the allegations, and no formal charges have been filed to date.

“These are not clerical errors,” Cornyn said in a statement.

“This bill ensures public officials who commit fraud are held to the same standard as any other citizen.”

The senator added that the bill would “hold crooked politicians like New York’s Letitia James accountable for defrauding their constituents, violating their oath of office, and breaking the law.”

The LETITIA Act comes amid rising criticism of selective enforcement of financial and ethical standards for government officials.

Senate Republicans say the bill is intended to close legal loopholes and address instances where elected officials have avoided consequences for serious financial misconduct.

Judiciary Committee aides familiar with the legislation confirmed that the bill has been structured to apply only to public officials acting in their official capacity or using their office to obtain financial advantages through false documentation, misrepresentation of property status, or tax deception.

According to documents reviewed by congressional staff and submitted as part of public ethics inquiries, Pulte alleges Schiff falsely claimed residency at multiple properties for the purpose of receiving reduced mortgage rates.

Pulte has urged federal investigators to look into what he described as “a deliberate misrepresentation of facts made in financial statements,” which could potentially violate both federal loan and tax statutes.

However, the LETITIA Act, if passed, would give federal prosecutors new authority to pursue minimum sentencing guidelines in cases involving public officials accused of financial crimes.

Cornyn emphasized the bill is not limited to any one party and would apply uniformly to all officials, regardless of political affiliation.

“The law should not treat members of Congress or attorneys general differently from the American people,” he said.

House Republicans have indicated interest in proposing companion legislation.

Congressional sources say several House members are reviewing the text of the LETITIA Act and evaluating whether similar measures could be introduced in the lower chamber later this year.

The bill comes as the Department of Justice faces continued pressure from lawmakers and watchdog groups to address alleged abuses of power and conflicts of interest involving elected officials.

If enacted, the LETITIA Act would mark one of the most significant legislative attempts in recent years to impose strict accountability measures on political officeholders engaged in personal financial misconduct.