3.0.0 3631 2022-12-29T21:18:18Z 2022-12-29T21:18:18Z Senate S 2022-02-10 117 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings by 2022-04-05T18:31:49Z ssfi00 Finance Committee Senate Standing Referred to 2022-02-10T18:50:04Z Bipartisan Ban on Congressional Stock Ownership Act of 2022 117 6678 HR 2022-02-24 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. Identical bill CRS 2022-04-05 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2022-02-10 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2022-02-10 Introduced in Senate IntroReferral 10000 9 Library of Congress W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. N D000618 Sen. Daines, Steve [R-MT] Steve Daines R MT 2022-02-10 True B001243 Sen. Blackburn, Marsha [R-TN] Marsha Blackburn R TN 2022-02-10 True S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2022-02-10 True W000790 Sen. Warnock, Raphael G. [D-GA] Raphael Warnock D GA G. 2022-02-10 True G000359 Sen. Graham, Lindsey [R-SC] Lindsey Graham R SC 2022-02-10 True Congress Civil actions and liability Government ethics and transparency, public corruption House Committee on Ethics Members of Congress Securities Senate Select Committee on Ethics Congress 00 2022-02-10 Introduced in Senate 2022-08-05T16:35:24Z Bipartisan Ban on Congressional Stock Ownership Act of 2022

This bill prohibits Members of Congress and their spouses from owning or trading stocks, bonds, commodities, futures, or any other form of security. Each current Member must divest within 180 days after the bill is enacted and each new Member must divest within 180 days after becoming a Member. However, Members and their spouses have 5 years to divest from specified complex investment vehicles. The bill does not apply to certain investments, such as investments in widely held investment funds that are diversified and do not present a conflict of interest and investments held in government employee retirement plans.

A Member or spouse who violates the bill may be subject to a fine of up to $50,000 for each violation. The bill permits a Member or spouse who is required to divest property under the bill to avoid recognizing gain for income tax purposes from the sale of that property to the extent that the Member or spouse purchases permitted bonds or diversified investment funds within 60 days of the divestiture.

]]> Bipartisan Ban on Congressional Stock Ownership Act of 2022 Display Title Bipartisan Ban on Congressional Stock Ownership Act of 2022 Short Title(s) as Introduced Bipartisan Ban on Congressional Stock Ownership Act of 2022 Introduced in Senate IS Official Title as Introduced A bill to prohibit stock trading and ownership by Members of Congress and spouses of Members of Congress, and for other purposes. Introduced in Senate IS Introduced in Senate 2022-02-10T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s3631is/xml/BILLS-117s3631is.xml 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.