Stop Politicians Profiting from War Act of 2024

referredUnited States· United States Congress· EN

Introduced

6 February 2024

Last action

29 August 2024 · Referred

Status

Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.

Summary

Stop Politicians Profiting from War Act of 2024 This bill prohibits Members of Congress, their spouses, and their dependent children from owning or trading stocks, bonds, commodities, futures, or any other form of security from a defense contractor or which are significantly based upon defense contractors. Each current Member must divest within 120 days after the bill is enacted and each new Member must divest within 120 days after becoming a Member. However, Members and their spouses have 180 days to divest from specified complex investment vehicles. Placing assets into qualified blind trusts does not qualify as divestment. 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, spouse, or dependent child 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

6 February 2024
Introduced
Referred to the Committee on Financial Services, and in addition to the Committees on House Administration, Agriculture, 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
6 February 2024
Introduced
Introduced in House
Source: IntroReferral
6 February 2024
Introduced
Introduced in House
Source: IntroReferral
15 February 2024
Introduced
Sponsor introductory remarks on measure. (CR H644)
Source: IntroReferral
29 August 2024
Referred
Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
Source: Committee

Votes

No vote records are attached yet.

Versions

Introduced in House · 6 February 2024 · Download file

Documents

3 official files

Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN · 6 February 2024
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Introduced in House (PDF)
Introduced in House · EN · 6 February 2024
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Introduced in House
summary · EN · 6 February 2024
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

related to → Bipartisan Ban on Congressional Stock Ownership Act of 2023

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/118th-congress/house-bill/7264
Open data entity: https://api.congress.gov/v3/bill/118/hr/7264
us · 118-hr-7264 · source updated 30 August 2024