117 HR 8754 IH: Dismantling Investments in Violation of Ethical Standards through Trusts Act U.S. House of Representatives 2022-08-30 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.

I117th CONGRESS2d SessionH. R. 8754IN THE HOUSE OF REPRESENTATIVESAugust 30, 2022Mr. Cloud (for himself and Mr. Golden) introduced the following bill; which was referred to the Committee on Oversight and Reform, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concernedA BILLTo amend the Ethics in Government Act of 1978 to prohibit transactions involving certain financial instruments by senior Federal employees, their spouses, or dependent children, and for other purposes.

1.

Short title

This Act may be cited as the Dismantling Investments in Violation of Ethical Standards through Trusts Act.

2.

Prohibiting transactions and ownership of certain financial instruments by senior Federal employees, their spouses, or dependent children

(a)

In general

The Ethics in Government Act of 1978 (5 U.S.C. App.) is amended by inserting after title I the following:.(b)

Application

The amendments made by subsection (a) shall apply to individuals described in section 202(a) of the Ethics in Government Act of 1978 (5 U.S.C. App.) beginning on the date that is 12 months following the date of enactment of this Act.(c)

Additional employees

Section 401(c)(1) of the Ethics in Government Act of 1978 (5 U.S.C. App.) is amended by inserting up to 100 after appoint.(d)

Funding

The Director of the Office of Management and Budget may transfer such funds as the Director considers appropriate, to be derived from unobligated amounts available for executive branch programs identified by the Director to be duplicative, to the Office of Government Ethics for the purpose of carrying out this Act, to remain available until the date that is 5 years following the date of the enactment of this Act.(e)

Conforming amendments

(1)Section 109 of the Ethics in Government Act of 1978 (5 U.S.C. App.) is amended—(A)in the matter preceding paragraph (1), by striking For the purposes of this title, the term— and inserting In this title:;(B)in paragraph (1), by striking means and all that follows through Representatives; and inserting the following: means, as applicable—(A)the Select Committee on Ethics of the Senate; and(B)the Committee on Ethics of the House of Representatives.;(C)in each of paragraphs (2) through (17), by striking the semicolon at the end of the paragraph and inserting a period;(D)in paragraph (18)—(i)in subparagraph (B), by striking Standards of Official Conduct and inserting Ethics; and(ii)in subparagraph (D), by striking ; and at the end and inserting a period;(E)in each of paragraphs (1) through (19)—(i)by inserting The term after the paragraph designation; and(ii)by inserting a paragraph heading, the text of which is comprised of the term defined in that paragraph; and(F)by redesignating paragraphs (8) and (9) as paragraphs (9) and (8), respectively, and moving the paragraphs so as to appear in numerical order.(2)Section 101(f) of the Ethics in Government Act of 1978 (5 U.S.C. App.) is amended—(A)in paragraph (9), by striking as defined under section 109(12);(B)in paragraph (10), by striking as defined under section 109(13);(C)in paragraph (11), by striking as defined under section 109(10); and(D)in paragraph (12), by striking as defined under section 109(8).(3)Section 103 of the Ethics in Government Act of 1978 (5 U.S.C. App.) is amended—(A)in subsection (j)(1), by striking Standards of Official Conduct and inserting Ethics; and(B)in subsection (l)—(i)in paragraph (9), by striking , as defined under section 109(12); and(ii)in paragraph (10), by striking , as defined under section 109(13).(4)Section 105(b)(3)(A) of the Ethics in Government Act of 1978 (5 U.S.C. App.) is amended by striking described in section 109(8) or 109(10) of this Act and inserting who is a judicial employee or judicial officer.(5)Section 111(2) of the Ethics in Government Act of 1978 (5 U.S.C. App.) is amended by striking Standards of Official Conduct and inserting Ethics.(6)Section 402 of the Ethics in Government Act of 1978 (5 U.S.C. App.) is amended—(A)in subsection (b), by striking title II of each place it appears; and(B)in subsection (f)(2)(B)—(i)by striking Subject to clause (iv) of this subparagraph, before each place it appears and inserting Before; and(ii)by striking clause (iv).(7)Section 503(1)(A) of the Ethics in Government Act of 1978 (5 U.S.C. App.) is amended by striking Standards of Official Conduct and inserting Ethics.(8)Section 3(4)(D) of the Lobbying Disclosure Act of 1995 (2 U.S.C. 1602(4)(D)) is amended by striking legislative branch employee serving in a position described under section 109(13) of the Ethics in Government Act of 1978 (5 U.S.C. App.) and inserting officer or employee of the Congress (as defined in section 109 of the Ethics in Government Act of 1978 (5 U.S.C. App.)).(9)Section 21A of the Securities Exchange Act of 1934 (15 U.S.C. 78u–1) is amended—(A)in subsection (g)(2)(B)(ii), by striking section 109(11) of the Ethics in Government Act of 1978 (5 U.S.C. App. 109(11)) and inserting section 109 of the Ethics in Government Act of 1978 (5 U.S.C. App.); and(B)in subsection (h)(2)—(i)in subparagraph (B), by striking section 109(8) of the Ethics in Government Act of 1978 (5 U.S.C. App. 109(8)) and inserting section 109 of the Ethics in Government Act of 1978 (5 U.S.C. App.); and(ii)in subparagraph (C), by striking under section 109(10) of the Ethics in Government Act of 1978 (5 U.S.C. App. 109(10)) and inserting in section 109 of the Ethics in Government Act of 1978 (5 U.S.C. App.).