Dismantling Investments in Violation of Ethical Standards through Trusts Act

Summary

Dismantling Investments in Violation of Ethical Standards through Trusts Act This bill prohibits a senior federal employee, his or her spouse, or dependent children from holding, purchasing, or selling certain financial instruments during the employee's term of service. Any profit made in violation of the prohibition must be disgorged to the Treasury and may subject the individual to a civil fine. The bill also requires the submission of an annual certification of compliance and requires the Government Accountability Office to conduct a compliance audit. A loss from a transaction or holding involving a covered financial instrument that is conducted in violation of this bill may not be deducted from the amount of income tax owed by the applicable senior federal employee, spouse, or dependent child. A senior federal employee who holds or conducts a transaction involving a covered financial instrument in violation of this bill may be subject to a civil fine assessed by the supervising ethics office.

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Timeline

1. 12 January 2023

   Introduced

   Referred to the Committee on Oversight and Accountability, 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 concerned.

   Source: IntroReferral

2. 12 January 2023

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 January 2023

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 January 2023 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 January 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 January 2023

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 January 2023

  Open at official source

Sponsors

• Rep. Cloud, Michael [R-TX-27] · R · Sponsor
• Jared Golden · D · Sponsor
• Keith Self · R · Cosponsor
• Rep. Krishnamoorthi, Raja [D-IL-8] · D · Cosponsor
• Josh Brecheen · R · Cosponsor
• Rep. Cammack, Kat [R-FL-3] · R · Cosponsor
• · hswm00 · Standing
• · hsgo00 · Standing

Related records

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