[Congressional Record Volume 158, Number 14 (Monday, January 30, 2012)]
[Senate]
[Pages S169-S172]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 1470. Mr. REID (for himself, Mr. Brown of Massachusetts, Mr. 
Lieberman, Ms. Collins, Mrs. Gillibrand, Mr. Levin, and Mr. Franken) 
submitted an amendment intended to be proposed by him to the bill S. 
2038, to prohibit Members of Congress and employees of Congress from 
using nonpublic information derived from their official positions for 
personal benefit, and for other purposes; which was ordered to lie on 
the table; as follows:

       Strike all after the enacting clause and insert the 
     following:

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Stop Trading on 
     Congressional Knowledge Act of 2012'' or the ``STOCK Act''.

     SEC. 2. DEFINITIONS.

       In this Act:
       (1) Member of congress.--The term ``Member of Congress'' 
     means a member of the Senate or House of Representatives, a 
     Delegate to the House of Representatives, and the Resident 
     Commissioner from Puerto Rico.
       (2) Employee of congress.--The term ``employee of 
     Congress'' means--
       (A) an employee of the Senate; or
       (B) an employee of the House of Representatives.
       (3) Executive branch employee.--The term ``executive branch 
     employee''--
       (A) has the meaning given the term ``employee'' under 
     section 2105 of title 5, United States Code; and
       (B) includes--
       (i) the President;
       (ii) the Vice President; and
       (iii) an employee of the United States Postal Service or 
     the Postal Regulatory Commission.
       (4) Judicial officer.--The term ``judicial officer'' has 
     the meaning given that term under section 109(10) of the 
     Ethics in Government Act of 1978.

     SEC. 3. PROHIBITION OF THE USE OF NONPUBLIC INFORMATION FOR 
                   PRIVATE PROFIT.

       The Select Committee on Ethics of the Senate and the 
     Committee on Standards of Official Conduct of the House of 
     Representatives shall issue interpretive guidance of the 
     relevant rules of each chamber, including rules on conflicts 
     of interest and gifts, clarifying that a Member of Congress 
     and an employee of Congress may not use nonpublic information 
     derived from such person's position as a Member of Congress 
     or employee of Congress or gained from the performance of 
     such person's official responsibilities as a means for making 
     a private profit.

     SEC. 4. PROHIBITION OF INSIDER TRADING.

       (a) Affirmation of Non-exemption.--Members of Congress and 
     employees of Congress are not exempt from the insider trading 
     prohibitions arising under the securities laws, including 
     section 10(b) of the Securities Exchange Act of 1934 and Rule 
     10b-5 thereunder.
       (b) Duty.--
       (1) Purpose.--The purpose of the amendment made by this 
     subsection is to affirm a duty arising from a relationship of 
     trust and confidence owed by each Member of Congress and each 
     employee of Congress.
       (2) Amendment.--Section 21A of the Securities Exchange Act 
     of 1934 (15 U.S.C. 78u-1) is amended by adding at the end the 
     following:
       ``(g) Duty of Members and Employees of Congress.--
       ``(1) In general.--For purposes of the insider trading 
     prohibitions arising under the securities laws, including 
     section 10(b) and Rule 10b-5 thereunder, each Member of 
     Congress or employee of Congress owes a duty arising from a 
     relationship of trust and confidence to the Congress, the 
     United States Government, and the citizens of the United 
     States with respect to material, nonpublic information 
     derived from such person's position as a Member of Congress 
     or employee of Congress or gained from the performance of 
     such person's official responsibilities.
       ``(2) Definitions.--In this subsection--
       ``(A) the term `Member of Congress' means a member of the 
     Senate or House of Representatives, a Delegate to the House 
     of Representatives, and the Resident Commissioner from Puerto 
     Rico; and
       ``(B) the term `employee of Congress' means--
       ``(i) an employee of the Senate; or
       ``(ii) an employee of the House of Representatives.
       ``(3) Rule of construction.--Nothing in this subsection 
     shall be construed to impair or limit the construction of the 
     existing antifraud provisions of the securities laws or the 
     authority of the Commission under those provisions.''.

     SEC. 5. CONFORMING CHANGES TO THE COMMODITY EXCHANGE ACT.

       Section 4c(a) of the Commodity Exchange Act (7 U.S.C. 
     6c(a)) is amended--
       (1) in paragraph (3), in the matter preceding subparagraph 
     (A)--
       (A) by inserting ``or any Member of Congress or employee of 
     Congress (defined in this subsection as those terms are 
     defined in section 2 of the Stop Trading on Congressional 
     Knowledge Act of 2012)'' after ``Federal Government,'' the 
     first place it appears;
       (B) by inserting ``Member,'' after ``position of the''; and
       (C) by inserting ``or by Congress'' before ``in a manner''; 
     and
       (2) in paragraph (4)--
       (A) in subparagraph (A), in the matter preceding clause 
     (i)--
       (i) by inserting ``or any Member of Congress or employee of 
     Congress'' after ``Federal Government,'' the first place it 
     appears;
       (ii) by inserting ``Member,'' after ``position of the''; 
     and
       (iii) by inserting ``or by Congress'' before ``in a 
     manner'';
       (B) in subparagraph (B), in the matter preceding clause 
     (i), by inserting ``or any Member of Congress or employee of 
     Congress'' after ``Federal Government,''; and
       (C) in subparagraph (C)--
       (i) in the matter preceding clause (i), by inserting ``or 
     by Congress''--

       (I) before ``that may affect''; and
       (II) before ``in a manner''; and

       (ii) in clause (iii), by inserting ``to Congress, or any 
     Member of Congress or employee of Congress'' after ``Federal 
     Government''.

     SEC. 6. PROMPT REPORTING OF FINANCIAL TRANSACTIONS.

       (a) Reporting Requirement.--Section 101 of the Ethics in 
     Government Act of 1978 is amended by adding at the end the 
     following subsection:
       ``(j) Not later than 30 days after any transaction required 
     to be reported under section 102(a)(5)(B), a Member of 
     Congress or officer or employee of Congress shall file a 
     report of the transaction.''.
       (b) Effective Date.--The amendment made by subsection (a) 
     shall apply to transactions occurring on or after the date 
     that is 90 days after the date of enactment of this Act.

     SEC. 7. REPORT ON POLITICAL INTELLIGENCE ACTIVITIES.

       (a) Report.--
       (1) In general.--Not later than 12 months after the date of 
     enactment of this Act, the Comptroller General of the United 
     States, in consultation with the Congressional Research 
     Service, shall submit to the Committee on Homeland Security 
     and Governmental Affairs of the Senate and the Committee on 
     Oversight and Government Reform of the House of 
     Representatives a report on the role of political 
     intelligence in the financial markets.
       (2) Contents.--The report required by this section shall 
     include a discussion of--
       (A) what is known about the prevalence of the sale of 
     political intelligence and the extent to which investors rely 
     on such information;
       (B) what is known about the effect that the sale of 
     political intelligence may have on the financial markets;
       (C) the extent to which information which is being sold 
     would be considered non-public information;
       (D) the legal and ethical issues that may be raised by the 
     sale of political intelligence;
       (E) any benefits from imposing disclosure requirements on 
     those who engage in political intelligence activities; and
       (F) any legal and practical issues that may be raised by 
     the imposition of disclosure requirements on those who engage 
     in political intelligence activities.
       (b) Definition.--For purposes of this section, the term 
     ``political intelligence'' shall mean information that is--
       (1) derived by a person from direct communications with 
     executive branch and legislative branch officials; and
       (2) provided in exchange for financial compensation to a 
     client who intends, and who is known to intend, to use the 
     information to inform investment decisions.

     SEC. 8. PUBLIC FILING AND DISCLOSURE OF FINANCIAL DISCLOSURE 
                   FORMS OF MEMBERS OF CONGRESS AND CONGRESSIONAL 
                   STAFF.

       (a) Public, On-line Disclosure of Financial Disclosure 
     Forms of Members of Congress and Congressional Staff.--
       (1) In general.--Not later than August 31, 2012, or 90 days 
     after the date of enactment of this Act, whichever is later, 
     the Secretary of the Senate and the Sergeant at Arms of the 
     Senate, and the Clerk of the House of Representatives, shall 
     ensure that financial disclosure forms filed by Members of 
     Congress, officers of the House and Senate, candidates for 
     Congress, and employees of the Senate and the House of 
     Representatives in calendar year 2012 and in subsequent years 
     pursuant to title I of the Ethics in Government Act of 1978 
     are made available to the public on the respective official 
     websites of

[[Page S170]]

     the Senate and the House of Representatives not later than 30 
     days after such forms are filed.
       (2) Extensions.--The existing protocol allowing for 
     extension requests for financial disclosures shall be 
     retained. Notices of extension for financial disclosure shall 
     be made available electronically under this subsection along 
     with its related disclosure.
       (3) Reporting transactions.--In the case of a transaction 
     disclosure required by section 101(j) of the Ethics in 
     Government Act of 1978, as added by this Act, such 
     disclosures shall be filed not later than 30 days after the 
     transaction. Notices of extension for transaction disclosure 
     shall be made available electronically under this subsection 
     along with its related disclosure.
       (4) Expiration.--The requirements of this subsection shall 
     expire upon implementation of the public disclosure system 
     established under subsection (b).
       (b) Electronic Filing and On-line Public Availability of 
     Financial Disclosure Forms of Members of Congress, Officers 
     of the House and Senate, and Congressional Staff.--
       (1) In general.--Subject to paragraph (6) and not later 
     than 18 months after the date of enactment of this Act, the 
     Secretary of the Senate and the Sergeant at Arms of the 
     Senate and the Clerk of the House of Representatives shall 
     develop systems to enable--
       (A) electronic filing of reports received by them pursuant 
     to section 103(h)(1)(A) of title I of the Ethics in 
     Government Act of 1978; and
       (B) public access to financial disclosure reports filed by 
     Members of Congress, Officers of the House and Senate, 
     candidates for Congress, and employees of the Senate and 
     House of Representatives, as well as reports of a transaction 
     disclosure required by section 101(j) of the Ethics in 
     Government Act of 1978, as added by this Act, notices of 
     extensions, amendments and blind trusts, pursuant to title I 
     of the Ethics in Government Act of 1978 through databases 
     that--
       (i) are maintained on the official websites of the House of 
     Representatives and the Senate; and
       (ii) allow the public to search, sort and download data 
     contained in the reports.
       (2) Login.--No login shall be required to search or sort 
     the data contained in the reports made available by this 
     subsection. A login protocol with the name of the user shall 
     be utilized by a person downloading data contained in the 
     reports. For purposes of filings under this section, section 
     105(b)(2) of the Ethics in Government Act of 1978 does not 
     apply.
       (3) Public availability.--Pursuant to section 105(b)(1) of 
     title I of the Ethics in Government Act of 1978, electronic 
     availability on the official websites of the Senate and the 
     House of Representatives under this subsection shall be 
     deemed to have met the public availability requirement.
       (4) Filers covered.--Individuals required under the Ethics 
     in Government Act of 1978 or the Senate Rules to file 
     financial disclosure reports with the Secretary of the Senate 
     or the Clerk of the House shall file reports electronically 
     using the systems developed by the Secretary of the Senate, 
     the Sergeant at Arms of the Senate, and the Clerk of the 
     House.
       (5) Extensions.--The existing protocol allowing for 
     extension requests for financial disclosures shall be 
     retained for purposes of this subsection. Notices of 
     extension for financial disclosure shall be made available 
     electronically under this subsection along with its related 
     disclosure.
       (6) Additional time.--The requirements of this subsection 
     may be implemented after the date provided in paragraph (1) 
     if the Secretary of the Senate or the Clerk of the House 
     identify in writing to relevant congressional committees an 
     additional amount of time needed.
       (c) Recordkeeping.--Section 105(d) of the Ethics in 
     Government Act of 1978 is amended to read as follows:
       ``(d)(1) Any report filed with or transmitted to an agency 
     or supervising ethics office or to the Clerk of the House of 
     Representatives or the Secretary of the Senate pursuant to 
     this title shall be retained by such agency or office or by 
     the Clerk or the Secretary of the Senate, as the case may be.
       ``(2) Such report shall be made available to the public--
       ``(A) in the case of a Member of Congress until a date that 
     is 6 years from the date the individual ceases to be a Member 
     of Congress; and
       ``(B) in the case of all other reports filed pursuant to 
     this title, for a period of six years after receipt of the 
     report.
       ``(3) After the relevant time period identified under 
     paragraph (2), the report shall be destroyed unless needed in 
     an ongoing investigation, except that in the case of an 
     individual who filed the report pursuant to section 101(b) 
     and was not subsequently confirmed by the Senate, or who 
     filed the report pursuant to section 101(c) and was not 
     subsequently elected, such reports shall be destroyed 1 year 
     after the individual either is no longer under consideration 
     by the Senate or is no longer a candidate for nomination or 
     election to the Office of President, Vice President, or as a 
     Member of Congress, unless needed in an ongoing investigation 
     or inquiry.''.

     SEC. 9. OTHER FEDERAL OFFICIALS.

       (a) Prohibition of the Use of Nonpublic Information for 
     Private Profit.--
       (1) Executive branch employees.--The Office of Government 
     Ethics shall issue such interpretive guidance of the relevant 
     Federal ethics statutes and regulations, including the 
     Standards of Ethical Conduct for executive branch employees, 
     related to use of nonpublic information, as necessary to 
     clarify that no executive branch employee may use non-public 
     information derived from such person's position as an 
     executive branch employee or gained from the performance of 
     such person's official responsibilities as a means for making 
     a private profit.
       (2) Judicial officers.--The Judicial Conference of the 
     United States shall issue such interpretive guidance of the 
     relevant ethics rules applicable to Federal judges, including 
     the Code of Conduct for United States Judges, as necessary to 
     clarify that no judicial officer may use non-public 
     information derived from such person's position as a judicial 
     officer or gained from the performance of such person's 
     official responsibilities as a means for making a private 
     profit.
       (b) Application of Insider Trading Laws.--
       (1) Affirmation of non-exemption.--Executive branch 
     employees and judicial officers are not exempt from the 
     insider trading prohibitions arising under the securities 
     laws, including section 10(b) of the Securities Exchange Act 
     of 1934 and Rule 10b-5 thereunder.
       (2) Duty.--
       (A) Purpose.--The purpose of the amendment made by this 
     paragraph is to affirm a duty arising from a relationship of 
     trust and confidence owed by each executive branch employee 
     and judicial officer.
       (B) Amendment.--Section 21A of the Securities Exchange Act 
     of 1934 (15 U.S.C. 78u-1), as amended by this Act, is amended 
     by adding at the end the following:
       ``(h) Duty of Other Federal Officials.--
       ``(1) In general.--For purposes of the insider trading 
     prohibitions arising under the securities laws, including 
     section 10(b), and Rule 10b-5 thereunder, each executive 
     branch employee and each judicial officer owes a duty arising 
     from a relationship of trust and confidence to the United 
     States Government and the citizens of the United States with 
     respect to material, nonpublic information derived from such 
     person's position as an executive branch employee or judicial 
     officer or gained from the performance of such person's 
     official responsibilities.
       ``(2) Definitions.--In this subsection--
       ``(A) the term `executive branch employee'--
       ``(i) has the meaning given the term `employee' under 
     section 2105 of title 5, United States Code;
       ``(ii) includes--

       ``(I) the President;
       ``(II) the Vice President; and
       ``(III) an employee of the United States Postal Service or 
     the Postal Regulatory Commission; and

       ``(B) the term `judicial officer' has the meaning given 
     that term under section 109(10) of the Ethics in Government 
     Act of 1978.
       ``(3) Rule of construction.--Nothing in this subsection 
     shall be construed to impair or limit the construction of the 
     existing antifraud provisions of the securities laws or the 
     authority of the Commission under those provisions.''.

     SEC. 10. RULE OF CONSTRUCTION.

       Nothing in this Act, the amendments made by this Act, or 
     the interpretive guidance to be issued pursuant to sections 3 
     and 9 of this Act, shall be construed to--
       (1) impair or limit the construction of the antifraud 
     provisions of the securities laws or the Commodities Exchange 
     Act or the authority of the Securities and Exchange 
     Commission or the Commodity Futures Trading Commission under 
     those provisions;
       (2) be in derogation of the obligations, duties and 
     functions of a Member of Congress, an employee of Congress, 
     an executive branch employee or a judicial officer, arising 
     from such person's official position; or
       (3) be in derogation of existing laws, regulations or 
     ethical obligations governing Members of Congress, employees 
     of Congress, executive branch employees or judicial officers.
                                 ______
                                 
  SA 1471. Mr. McCAIN (for himself, Mr. Rockefeller, Mr. Enzi, Mrs. 
McCaskill, Mr. Johanns, Mr. Barrasso, Mr. Blunt, and Mr. Graham) 
submitted an amendment intended to be proposed by him to the bill S. 
2038, to prohibit Members of Congress and employees of Congress from 
using nonpublic information derived from their official positions for 
personal benefit, and for other purposes; which was ordered to lie on 
the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. LIMITATION ON BONUSES TO EXECUTIVES OF FANNIE MAE 
                   AND FREDDIE MAC.

       Notwithstanding any other provision in law, senior 
     executives at the Federal National Mortgage Association and 
     the Federal Home Loan Mortgage Corporation are prohibited 
     from receiving bonuses during any period of conservatorship 
     for those entities on or after the date of enactment of this 
     Act.
                                 ______
                                 
  SA 1472. Mr. TOOMEY (for himself, Mrs. McCaskill, Mr. DeMint, Mr. 
Udall of Colorado, Mr. Rubio, Ms. Ayotte, Mr. Portman, Mr. Thune, and 
Mr. Johanns) submitted an amendment

[[Page S171]]

intended to be proposed by him to the bill S. 2038, to prohibit Members 
of Congress and employees of Congress from using nonpublic information 
derived from their official positions for personal benefit, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. EARMARK ELIMINATION ACT OF 2012.

       (a) Short Title.--This Act may be cited as the ``Earmark 
     Elimination Act of 2011''.
       (b) Prohibition on Earmarks.--
       (1) Bills and joint resolutions, amendments, amendments 
     between the houses, and conference reports.--
       (A) In general.--It shall not be in order in the Senate to 
     consider a bill or resolution introduced in the Senate or the 
     House of Representatives, amendment, amendment between the 
     Houses, or conference report that includes an earmark.
       (B) Procedure.--Upon a point of order being made by any 
     Senator pursuant to subparagraph (A) against an earmark, and 
     such point of order being sustained, such earmark shall be 
     deemed stricken.
       (2) Conference report and amendment between the houses 
     procedure.--When the Senate is considering a conference 
     report on, or an amendment between the Houses, upon a point 
     of order being made by any Senator pursuant to paragraph (1), 
     and such point of order being sustained, such material 
     contained in such conference report shall be deemed stricken, 
     and the Senate shall proceed to consider the question of 
     whether the Senate shall recede from its amendment and concur 
     with a further amendment, or concur in the House amendment 
     with a further amendment, as the case may be, which further 
     amendment shall consist of only that portion of the 
     conference report or House amendment, as the case may be, not 
     so stricken. Any such motion in the Senate shall be debatable 
     under the same conditions as was the conference report. In 
     any case in which such point of order is sustained against a 
     conference report (or Senate amendment derived from such 
     conference report by operation of this subsection), no 
     further amendment shall be in order.
       (3) Waiver.--Any Senator may move to waive any or all 
     points of order under this section by an affirmative vote of 
     two-thirds of the Members, duly chosen and sworn.
       (4) Definitions.--
       (A) Earmark.--For the purpose of this section, the term 
     ``earmark'' means a provision or report language included 
     primarily at the request of a Senator or Member of the House 
     of Representatives as certified under paragraph 1(a)(1) of 
     rule XLIV of the Standing Rules of the Senate--
       (i) providing, authorizing, or recommending a specific 
     amount of discretionary budget authority, credit authority, 
     or other spending authority for a contract, loan, loan 
     guarantee, grant, loan authority, or other expenditure with 
     or to an entity, or targeted to a specific State, locality or 
     Congressional district, other than through a statutory or 
     administrative formula-driven or competitive award process;
       (ii) that--

       (I) provides a Federal tax deduction, credit, exclusion, or 
     preference to a particular beneficiary or limited group of 
     beneficiaries under the Internal Revenue Code of 1986; and
       (II) contains eligibility criteria that are not uniform in 
     application with respect to potential beneficiaries of such 
     provision; or

       (iii) modifying the Harmonized Tariff Schedule of the 
     United States in a manner that benefits 10 or fewer entities.
       (B) Determination by the senate.--In the event the Chair is 
     unable to ascertain whether or not the offending provision 
     constitutes an earmark as defined in this subsection, the 
     question of whether the provision constitutes an earmark 
     shall be submitted to the Senate and be decided without 
     debate by an affirmative vote of two-thirds of the Members, 
     duly chosen and sworn
       (5) Application.--This section shall not apply to any 
     authorization of appropriations to a Federal entity if such 
     authorization is not specifically targeted to a State, 
     locality or congressional district.
                                 ______
                                 
  SA 1473. Mr. COBURN (for himself, Mr. Udall of Colorado, Mr. McCain, 
Mr. Burr, Mrs. McCaskill, and Mr. Paul) submitted an amendment intended 
to be proposed by him to the bill S. 2038, to prohibit Members of 
Congress and employees of Congress from using nonpublic information 
derived from their official positions for personal benefit, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. ___. PREVENTING DUPLICATIVE AND OVERLAPPING GOVERNMENT 
                   PROGRAMS.

       (a) Short Title.--This section may be cited as the 
     ``Preventing Duplicative and Overlapping Government Programs 
     Act''.
       (b) Reported Legislation.--Paragraph 11 of rule XXVI of the 
     Standing Rules of the Senate is amended--
       (1) in subparagraph (c), by striking ``and (b)'' and 
     inserting ``(b), and (c)'';
       (2) by redesignating subparagraph (c) and subparagraph (d); 
     and
       (3) by inserting after subparagraph (b) the following:
       ``(c) The report accompanying each bill or joint resolution 
     of a public character reported by any committee (including 
     the Committee on Appropriations and the Committee on the 
     Budget) shall contain--
       ``(1) an analysis by the Congressional Research Service to 
     determine if the bill or joint resolution creates any new 
     Federal program, office, or initiative that would duplicate 
     or overlap any existing Federal program, office, or 
     initiative with similar mission, purpose, goals, or 
     activities along with a listing of all of the overlapping or 
     duplicative Federal program or programs, office or offices, 
     or initiative or initiatives; and
       ``(2) an explanation provided by the committee as to why 
     the creation of each new program, office, or initiative is 
     necessary if a similar program or programs, office or 
     offices, or initiative or initiatives already exist.''.
       (c) Senate.--Rule XVII of the Standing Rules of the Senate 
     is amended by inserting at the end thereof the following:
       ``6. (a) It shall not be in order in the Senate to proceed 
     to any bill or joint resolution unless the committee of 
     jurisdiction has prepared and posted on the committee website 
     an overlapping and duplicative programs analysis and 
     explanation for the bill or joint resolution as described in 
     subparagraph (b) prior to proceeding.
       ``(b) The analysis and explanation required by this 
     subparagraph shall contain--
       ``(1) an analysis by the Congressional Research Service to 
     determine if the bill or joint resolution creates any new 
     Federal program, office, or initiative that would duplicate 
     or overlap any existing Federal program, office, or 
     initiative with similar mission, purpose, goals, or 
     activities along with a listing of all of the overlapping or 
     duplicative Federal program or programs, office or offices, 
     or initiative or initiatives; and
       ``(2) an explanation provided by the committee as to why 
     the creation of each new program, office, or initiative is 
     necessary if a similar program or programs, office or 
     offices, or initiative or initiatives already exist.
       ``(c) This paragraph may be waived by joint agreement of 
     the Majority Leader and the Minority Leader of the Senate 
     upon their certification that such waiver is necessary as a 
     result of--
       ``(1) a significant disruption to Senate facilities or to 
     the availability of the Internet; or
       ``(2) an emergency as determined by the leaders.''.
                                 ______
                                 
  SA 1474. Mr. COBURN (for himself and Mr. McCain) submitted an 
amendment intended to be proposed by him to the bill S. 2038, to 
prohibit Members of Congress and employees of Congress from using 
nonpublic information derived from their official positions for 
personal benefit, and for other purposes; which was ordered to lie on 
the table; as follows:

       At the appropriate place, insert the following:

     SEC. ___. AVAILABILITY OF LEGISLATION IN THE HOUSE AND 
                   SENATE.

       (a) In General.--It shall not be in order in the Senate or 
     the House of Representatives to proceed to any legislative 
     matter unless the legislative matter has been publically 
     available on the Internet as provided in subsection (b) in 
     searchable form 72 hours (excluding Saturdays, Sundays and 
     holidays except when the Senate or the House of 
     Representatives is in session on such a day) prior to 
     proceeding.
       (b) Availability.--With respect to the requirements of 
     subsection (a), the legislative matter shall be available on 
     the official website of the committee with jurisdiction over 
     the subject matter of the legislative matter.
       (c) Waiver and Suspension.--
       (1) In the senate.--The provisions of this section may be 
     waived in the Senate only by the affirmative vote of two-
     thirds of the Members, duly chosen and sworn.
       (2) In the house.--The provisions of this section may be 
     waived in the House of Representatives only by a rule or 
     order proposing only to waive such provisions by an 
     affirmative vote of two-thirds of the Members, duly chosen 
     and sworn.
       (3) Point of order protection.--In the House of 
     Representatives, it shall not be in order to consider a rule 
     or order that waives the application of paragraph (2).
       (4) Motion to suspend.--It shall not be in order for the 
     Speaker to entertain a motion to suspend the application of 
     this section under clause 1 of rule XV of the Rules of the 
     House of Representatives.
       (d) Legislative Matter.--In this section, the term 
     ``legislative matter'' means any bill, joint resolution, 
     concurrent resolution, conference report, or substitute 
     amendment.
                                 ______
                                 
  SA 1475. Mr. COBURN (for himself, Mr. McCain, and Mr. Johnson, of 
Wisconsin) submitted an amendment intended to be proposed by him to the 
bill S. 2038, to prohibit Members of Congress and employees of Congress 
from using nonpublic information derived from their official positions 
for personal benefit, and for other purposes; which was ordered to lie 
on the table; as follows:


[[Page S172]]


       At the appropriate place, insert the following:

     SEC. ___. PERMANENT PROHIBITION ON CONGRESSIONAL EARMARKS.

       (a) Bills and Joint Resolutions.--
       (1) Point of order.--It shall not be in order to--
       (A) consider a bill or joint resolution reported by any 
     committee that includes an earmark, limited tax benefit, or 
     limited tariff benefit; or
       (B) a Senate bill or joint resolution not reported by 
     committee that includes an earmark, limited tax benefit, or 
     limited tariff benefit.
       (2) Return to the calendar.--If a point of order is 
     sustained under this subsection, the bill or joint resolution 
     shall be returned to the calendar until compliance with this 
     subsection has been achieved.
       (b) Conference Report.--
       (1) Point of order.--It shall not be in order to vote on 
     the adoption of a report of a committee of conference if the 
     report includes an earmark, limited tax benefit, or limited 
     tariff benefit.
       (2) Return to the calendar.--If a point of order is 
     sustained under this subsection, the conference report shall 
     be returned to the calendar.
       (c) Floor Amendment.--It shall not be in order to consider 
     an amendment to a bill or joint resolution if the amendment 
     contains an earmark, limited tax benefit, or limited tariff 
     benefit.
       (d) Amendment Between the Houses.--
       (1) In general.--It shall not be in order to consider an 
     amendment between the Houses if that amendment includes an 
     earmark, limited tax benefit, or limited tariff benefit.
       (2) Return to the calendar.--If a point of order is 
     sustained under this subsection, the amendment between the 
     Houses shall be returned to the calendar until compliance 
     with this subsection has been achieved.
       (e) Waiver.--Any Senator may move to waive any or all 
     points of order under this section by an affirmative vote of 
     two-thirds of the Members, duly chosen and sworn.
       (f) Definitions.--For the purpose of this section--
       (1) the term ``earmark'' means a provision or report 
     language included primarily at the request of a Senator or 
     Member of the House of Representatives providing, 
     authorizing, or recommending a specific amount of 
     discretionary budget authority, credit authority, or other 
     spending authority for a contract, loan, loan guarantee, 
     grant, loan authority, or other expenditure with or to an 
     entity, or targeted to a specific State, locality or 
     Congressional district, other than through a statutory or 
     administrative formula-driven or competitive award process;
       (2) the term ``limited tax benefit'' means any revenue 
     provision that--
       (A) provides a Federal tax deduction, credit, exclusion, or 
     preference to a particular beneficiary or limited group of 
     beneficiaries under the Internal Revenue Code of 1986; and
       (B) contains eligibility criteria that are not uniform in 
     application with respect to potential beneficiaries of such 
     provision; and
       (3) the term ``limited tariff benefit'' means a provision 
     modifying the Harmonized Tariff Schedule of the United States 
     in a manner that benefits 10 or fewer entities.
                                 ______
                                 
  SA 1476. Mr. COBURN submitted an amendment intended to be proposed by 
him to the bill S. 2038, to prohibit Members of Congress and employees 
of Congress from using nonpublic information derived from their 
official positions for personal benefit, and for other purposes; which 
was ordered to lie on the table; as follows:

       Strike all after the enacting clause and insert the 
     following:

     SECTION 1. MEMBER CERTIFICATION.

       Section 102(a) of the Ethics in Government Act of 1978 is 
     amended by inserting at the end the following:
       ``(9)(A) A statement (as provided in subparagraph (B)) 
     certifying that financial transactions included in the report 
     filed pursuant to section 101 (d) and (e) were not made on 
     the basis of non-public information.
       ``(B) The certification required by this paragraph is as 
     follows: `I hereby certify that the financial transactions 
     reflected in this disclosure form were not made on the basis 
     of material, non-public information.' ''.

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