119-hr3182

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3182 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 3182

 To amend title 5, United States Code, to prohibit Members of Congress 
 and their spouses from trading stock, and for other purposes.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 May 5, 2025

Mr. Bresnahan introduced the following bill; which was referred to the 
 Committee on House Administration

_______________________________________________________________________

 A BILL

 To amend title 5, United States Code, to prohibit Members of Congress 
 and their spouses from trading stock, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PROHIBITING TRANSACTIONS AND OWNERSHIP OF CERTAIN FINANCIAL 
 INSTRUMENTS BY MEMBERS OF CONGRESS AND THEIR SPOUSES.

    (a) In General.--Chapter 131 of title 5, United States Code, is 
amended by adding after subchapter III the following:

 ``SUBCHAPTER IV--RESTRICTIONS REGARDING FINANCIAL INSTRUMENTS

``

Sec. 13151. Definitions
 ``In this subchapter--
 ``

    (1) the term `covered financial instrument'--
 ``
        (A) means--
 ``
            (i) any investment in--
 ``
            (I) a security (as defined in 
 

section 3

    (a) of Securities Exchange Act 
 of 1934 (15 U.S.C. 78c

    (a) ));
 ``
            (II) a security future (as 
 defined in that section); or
 ``
            (III) a commodity (as defined in 
 

section 1a of the Commodity Exchange 
 Act (7 U.S.C. 1a)); and
 ``
            (ii) any economic interest comparable to 
 an interest described in subclause
            (I) that is 
 acquired through synthetic means, such as the 
 use of a derivative, including an option, 
 warrant, or other similar means; and
 ``
        (B) does not include--
 ``
            (i) a diversified mutual fund;
 ``
            (ii) a diversified exchange-traded fund;
 ``
            (iii) any investment in the Thrift 
 Savings Plan; or
 ``
            (iv) a United States Treasury bill, note, 
 or bond;
 ``

    (2) the term `Member of Congress' has the meaning given 
 that term in 

section 13101; and
 ``

    (3) the term `qualified blind trust' has the meaning 
 given that term in 

section 13104

    (f)

    (3) .
``

Sec. 13152. Prohibition on certain transactions and holdings 
 involving covered financial instruments
 ``

    (a) Prohibition.--Except as provided in subsection

    (b) , a Member 
of Congress and the Member's spouse may not, during the term of service 
of the Member, hold, purchase, or sell any covered financial 
instrument.
 ``

    (b) Exceptions.--
 ``

    (1) Holding covered financial instruments.--The 
 prohibition on holding any covered financial instrument under 
 subsection

    (a) shall not apply to a covered financial 
 instrument a Member of Congress or the Member's spouse owns 
 immediately preceding the term of the Member.
 ``

    (2) Qualified blind trust.--Subsection

    (a) does not apply 
 to a covered financial instrument held in a qualified blind 
 trust operated on behalf of, or for the benefit of, a Member of 
 Congress or the Member's spouse.
 ``
            (c) Fines.--A Member of Congress who holds or conducts a 
transaction involving a covered financial instrument in violation of 
this section may be subject to a civil fine as described under 

section 13106

    (a) .''.

    (b) Clerical Amendment.--The table of sections for such chapter 131 
is amended by inserting after the item relating to 

section 13146 the 
following:

 ``subchapter iv--restrictions regarding financial instruments

``13151. Definitions.
``13152. Prohibition on certain transactions and holdings involving 
 covered financial instruments.''.
            (c) Application.--The amendments made by subsection

    (a) shall begin 
to apply to Members of Congress and their spouses on the first day of 
the One Hundred Twentieth Congress.
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