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United States · Bill · HR

H.R. 1679 (118th)

Bipartisan Ban on Congressional Stock Ownership Act of 2023

referredUnited States· United States Congress· EN

Introduced

21 March 2023

Last action

21 March 2023 · Introduced

Status

Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, House Administration, and 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 concerned.

Sponsors

Rep. Jayapal, Pramila [D-WA-7], Rep. Auchincloss, Jake [D-MA-4], Rep. DeLauro, Rosa L. [D-CT-3], Rep. García, Jesús G. "Chuy" [D-IL-4], Sen. Kim, Andy [D-NJ], Rep. Nadler, Jerrold [D-NY-12], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Porter, Katie [D-CA-47], Rep. Takano, Mark [D-CA-39], Rep. Tonko, Paul [D-NY-20], Rep. Rosendale Sr., Matthew M. [R-MT-2], Rep. Buck, Ken [R-CO-4], Rep. Crane, Elijah [R-AZ-2], Rep. Self, Keith [R-TX-3], Rep. Burchett, Tim [R-TN-2], Rep. Gaetz, Matt [R-FL-1], Rep. Neguse, Joe [D-CO-2], Rep. Brecheen, Josh [R-OK-2], Rep. Napolitano, Grace F. [D-CA-32], Rep. Lee, Barbara [D-CA-12], Rep. McCollum, Betty [D-MN-4], Rep. Deluzio, Christopher R. [D-PA-17], Rep. Pocan, Mark [D-WI-2], Rep. Hoyle, Val T. [D-OR-4], Rep. Goldman, Daniel S. [D-NY-10], Rep. Lawler, Michael [R-NY-17], Rep. Gomez, Jimmy [D-CA-34], Rep. Lee, Summer L. [D-PA-12], Rep. Tlaib, Rashida [D-MI-12], Rep. Cartwright, Matt [D-PA-17]

Subjects

Taxation

Source updated

11 June 2024

Taxation

Official sourceDownload fileView documentsShare

Summary

Bipartisan Ban on Congressional Stock Ownership Act of 2023 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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 21 March 2023

    Introduced

    Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, House Administration, and 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 concerned.

    Source: IntroReferral

  2. 21 March 2023

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 21 March 2023

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 21 March 2023

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  • Introduced in House (PDF)

    Introduced in House · EN · 21 March 2023

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 21 March 2023

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Sponsors

Related records

Sources

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