It follows a years-long investigation into allegations of sexual misconduct and illicit drug use by Gaetz, who President-elect Donald Trump wanted to install as the nation's top lawman.
The committee also found evidence that Gaetz, 42, received gifts in excess of permissible amounts in connection to a 2018 trip to the Bahamas.
The former lawmaker has repeatedly denied wrongdoing, saying he is the victim of a smear campaign. Amid the controversy, he withdrew from consideration to serve as US attorney general.