Bipartisan Ban on Congressional Stock Ownership Act of 2022

Summary

Bipartisan Ban on Congressional Stock Ownership Act of 2022 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. 10 February 2022

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 10 February 2022

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 5 April 2022

   Committee

   Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 10 February 2022 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 10 February 2022

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 10 February 2022

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 10 February 2022

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Warren, Elizabeth [D-MA] · D · Sponsor
• Sen. Daines, Steve [R-MT] · R · Sponsor
• Sen. Blackburn, Marsha [R-TN] · R · Sponsor
• Sen. Stabenow, Debbie [D-MI] · D · Sponsor
• Sen. Warnock, Raphael G. [D-GA] · D · Sponsor
• Sen. Graham, Lindsey [R-SC] · R · Sponsor
• · ssbk00 · Standing
• · ssfi00 · Standing

Related records

• related to → Bipartisan Ban on Congressional Stock Ownership Act of 2022