119-hr396

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 396 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 396

To require Members of Congress and their spouses and dependent children 
 to place certain assets into blind trusts, and for other purposes.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 January 14, 2025

 Mr. Magaziner (for himself, Mr. Roy, Ms. Adams, Mr. Beyer, Mr. Casar, 
Mr. Ciscomani, Mr. Cleaver, Ms. Craig, Mr. Crane, Mr. Crow, Ms. Davids 
 of Kansas, Ms. DelBene, Mr. Deluzio, Mr. Garcia of California, Mr. 
Golden of Maine, Mr. Gottheimer, Ms. Houlahan, Mr. Huffman, Mr. Johnson 
 of South Dakota, Mr. Keating, Mrs. Kim, Mr. Landsman, Mr. Lawler, Ms. 
 Leger Fernandez, Mr. Levin, Ms. Mace, Ms. McCollum, Mr. Mrvan, Mr. 
 Murphy, Mr. Nadler, Mr. Neguse, Ms. Norton, Ms. Perez, Mr. Perry, Ms. 
 Pettersen, Mr. Pocan, Ms. Salinas, Ms. Sherrill, Mr. Sorensen, Mr. 
 Stanton, Ms. Stevens, Ms. Titus, Mr. Tonko, Mr. Vasquez, Ms. Williams 
 of Georgia, Mr. Mackenzie, and Mr. Pappas) introduced the following 
 bill; which was referred to the Committee on House Administration

_______________________________________________________________________

 A BILL

To require Members of Congress and their spouses and dependent children 
 to place certain assets into blind trusts, 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. SHORT TITLE.

 This Act may be cited as the ``Transparent Representation Upholding 
Service and Trust in Congress Act'' or the ``TRUST in Congress Act''.

SEC. 2. PLACEMENT OF CERTAIN ASSETS OF MEMBERS OF CONGRESS AND THEIR 
 SPOUSES AND DEPENDENT CHILDREN IN BLIND TRUST.

    (a) In General.--

    (1) Members occupying office on date of enactment.--Not 
 later than 180 days after the date of enactment of this Act, a 
 Member of Congress and any spouse or dependent child of such 
 Member shall place any covered investment owned by such Member, 
 spouse, or dependent child into a qualified blind trust.

    (2) Members assuming office after date of enactment.--Not 
 later than 90 days after the date an individual becomes a 
 Member of Congress after the date of enactment of this Act, 
 such individual and any spouse or dependent child of such 
 individual shall place any covered investment owned by such 
 individual, spouse, or dependent child into a qualified blind 
 trust.

    (3) Mingling of assets.--A spouse or dependent child of a 
 Member of Congress may place a covered investment in a 
 qualified blind trust established by such Member under 
 paragraph

    (1) or

    (2) .

    (4) Assets upon separation.--A Member of Congress and any 
 spouse or dependent child of such Member may not dissolve any 
 qualified blind trust in which a covered investment has been 
 placed pursuant to paragraph

    (1) or

    (2) , or otherwise control 
 such an investment, until the date that is 180 days after the 
 date such Member ceases to be a Member of Congress.

    (b) Accountability.--

    (1) Members of the house.--A Member of Congress who is a 
 Member of the House of Representatives shall--
        (A) not later than 15 days after the date a 
 qualified blind trust is established under subsection

    (a) , certify to the Clerk of the House of 
 Representatives that such trust has been established 
 and that any covered investment owned by such Member or 
 a spouse or dependent child of such Member has been 
 placed in such trust; or
        (B) certify to the Clerk that such Member or a 
 spouse or dependent child of such Member does not own 
 any covered investment.

    (2) Members of the senate.--A Member of Congress who is a 
 Senator shall--
        (A) not later than 15 days after the date a 
 qualified blind trust is established under subsection

    (a) , certify to the Secretary of the Senate that such 
 trust has been established and that any covered 
 investment owned by such Member or a spouse or 
 dependent child of such Member has been placed in such 
 trust; or
        (B) certify to the Secretary that such Member or a 
 spouse or dependent child of such Member does not own 
 any covered investment.

    (3) Report.--The Clerk of the House of Representatives and 
 the Secretary of the Senate shall make available on the public 
 website of the Clerk and the Secretary, respectively, any 
 certification made under paragraph

    (1) or

    (2) .
            (c) Exception.--A spouse or dependent child who receives 
compensation from their primary occupation through any covered 
investment shall not be required to place such covered investment in a 
qualified blind trust under this Act.
            (d) === Definitions. ===
-In this Act:

    (1) Commodity.--The term ``commodity'' has the meaning 
 given the term in 

section 1a of the Commodity Exchange Act (7 
 U.S.C. 1a).

    (2) Covered investment.--The term ``covered investment''--
        (A) means investment in a security, a commodity, or 
 a future, or any comparable economic interest acquired 
 through synthetic means such as the use of a 
 derivative; and
        (B) does not include--
            (i) a widely held investment fund described 
 in 

section 13104

    (f)

    (8) of title 5, United 
 States Code; or
            (ii) a United States Treasury bill, note, 
 or bond.

    (3) Dependent child.--The term ``dependent child'' has the 
 meaning given that term in 

section 13101 of title 5, United 
 States Code.

    (4) Member of congress.--The term ``Member of Congress'' 
 has the meaning given that term in such 

section 13101.

    (5) Qualified blind trust.--The term ``qualified blind 
 trust'' has the meaning given that term in 

section 13104

    (f)

    (3) of such title.
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