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United States · Bill · HR

H.R. 5362 (117th)

Stop Foreign Payoffs Act

referredUnited States· United States Congress· EN

Introduced

24 September 2021

Last action

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Status

Referred to the Committee on Oversight and Reform, and in addition to the Committee on House Administration, 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

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Subjects

Discovery layer

Source updated

4 February 2025

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Summary

Stop Foreign Payoffs Act This bill prohibits certain government officials and their family members from holding foreign financial interests and also requires divestiture of any such interests in a prescribed manner and time frame. Specifically, the bill prohibits the President, cabinet officials, and Members of Congress from holding any financial interest in, or receiving payment from, a foreign business. Such individuals must divest any such interest by either converting the interest into cash or another investment, or by placing the interest in a qualified blind trust or diversified trust; divestiture must occur no later than 30 days after either the issuance of implementing regulations or after the individual takes office. The bill's requirements apply to the spouses, children, sons-in-law, and daughters-in-law of such individuals.

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Documents

3 official files

Introduced in House (text)

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Sources

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