119-hres665

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 665 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
H. RES. 665

 Providing for consideration of the bill (H.R. 1908) to prohibit stock 
 trading and ownership by Members of Congress and their spouses and 
 dependent children, and for other purposes.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 August 29, 2025

Mrs. Luna submitted the following resolution; which was referred to the 
 Committee on Rules

_______________________________________________________________________

 RESOLUTION

 Providing for consideration of the bill (H.R. 1908) to prohibit stock 
 trading and ownership by Members of Congress and their spouses and 
 dependent children, and for other purposes.

 Resolved, That immediately upon adoption of this resolution, the 
House shall proceed to the consideration in the House of the bill (H.R. 
1908) to prohibit stock trading and ownership by Members of Congress 
and their spouses and dependent children, and for other purposes. All 
points of order against consideration of the bill are waived. The 
amendment specified in 

section 3 of this resolution shall be considered 
as adopted. The bill, as amended, shall be considered as read. All 
points of order against provisions in the bill, as amended, are waived. 
The previous question shall be considered as ordered on the bill, as 
amended, and on any further amendment thereto, to final passage without 
intervening motion except:

    (1) one hour of debate equally divided and 
controlled by the chair and ranking minority member of the Committee on 
Financial Services; and

    (2) one motion to recommit.
 

Sec. 2. Clause 1
            (c) of rule XIX shall not apply to the 
consideration of H.R. 1908.
 

Sec. 3. The amendment specified in this section is as follows.
 Strike 

section 1 and all that follows and insert the following:

``

SECTION 1. SHORT TITLE.

 ``This Act may be cited as the `End Congressional Stock Trading 
Act'.

``

SEC. 2. BAR ON STOCK TRADING AND OWNERSHIP BY MEMBERS OF CONGRESS AND 
 THEIR SPOUSES AND DEPENDENT CHILDREN.

 ``

    (a) 

=== Definitions. ===
-In this section:
 ``

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

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

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

section 13101 of title 5, United 
 States Code.
 ``

    (3) Diversified.--The term `diversified', with respect to 
 an investment fund, means that the investment fund does not 
 have a stated policy of overly concentrating its investments.
 ``

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

section 13101 of title 5, 
 United States Code.
 ``

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

section 13104

    (f)

    (3) of title 5, United States Code.
 ``

    (6) Security.--The term `security' has the meaning given 
 that term in 

section 3

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

    (a) ).
 ``

    (7) Small business concern.--The term `small business 
 concern' has the meaning given that term under 

section 3 of the 
 Small Business Act (15 U.S.C. 632).
 ``

    (8) Widely held investment fund.--The term `widely held 
 investment fund' means a widely held investment fund described 
 in 13104

    (f)

    (8) of title 5, United States Code.
 ``

    (b) Divestment.--
 ``

    (1) In general.--A Member of Congress or a spouse or 
 dependent child of a Member of Congress may not own an interest 
 in or trade (except as a divestment) any stock, bond, 
 commodity, future, or other form of security, including an 
 interest in a hedge fund, a derivative, option, or other 
 complex investment vehicle.
 ``

    (2) Implementation.--
 ``
        (A) Current members.--
 ``
            (i) In general.--Except as provided in 
 clause
            (ii) , an individual who is a Member of 
 Congress or a spouse or dependent child of a 
 Member of Congress on the date of enactment of 
 this Act shall complete the divestment of any 
 asset described in paragraph

    (1) by not later 
 than 180 days after the date of enactment of 
 this Act.
 ``
            (ii) Certain assets.--For an asset 
 described in paragraph

    (1) that is an interest 
 in a hedge fund, venture capital fund, or other 
 privately held complex investment vehicle, an 
 individual who is a Member of Congress or a 
 spouse or dependent child of a Member of 
 Congress on the date of enactment of this Act 
 shall complete the divestment of the asset by 
 not later than 2 years after the date of 
 enactment of this Act.
 ``
        (B) New members.--
 ``
            (i) In general.--Except as provided in 
 clause
            (ii) , an individual who becomes a Member 
 of Congress or a spouse or dependent child of a 
 Member of Congress after the date of enactment 
 of this Act shall complete the divestment of 
 any asset described in paragraph

    (1) by not 
 later than 180 days after the date on which the 
 individual becomes a Member of Congress or a 
 spouse or dependent child of a Member of 
 Congress.
 ``
            (ii) Certain assets.--For an asset 
 described in paragraph

    (1) that is an interest 
 in a hedge fund, venture capital fund, or other 
 privately held complex investment vehicle, an 
 individual who becomes a Member of Congress or 
 a spouse or dependent child of a Member of 
 Congress after the date of enactment of this 
 Act shall complete the divestment of the asset 
 by not later than 2 years after the date on 
 which the individual becomes a Member of 
 Congress or a spouse or dependent child of a 
 Member of Congress.
 ``
            (C) Divestment of assets received while a 
 member.--An individual serving as a Member of Congress 
 or a spouse or dependent child of an individual serving 
 as a Member of Congress who receives any asset 
 described in paragraph

    (1) during the period of such 
 service, such as from an inheritance, shall complete 
 the divestment of the asset by not later than 180 days 
 after the date on which the individual receives the 
 asset.
 ``
            (c) Exceptions.--Nothing in this section shall be construed to 
prevent--
 ``

    (1) a Member of Congress or a spouse or dependent child 
 of a Member of Congress from owning or trading--
 ``
        (A) a widely held investment fund, if the widely 
 held investment fund--
 ``
            (i) does not present a conflict of 
 interest; and
 ``
            (ii) is diversified;
 ``
        (B) shares of Settlement Common Stock issued 
 under 

section 7

    (g)

    (1)
        (A) of the Alaska Native Claims 
 Settlement Act (43 U.S.C. 1606

    (g)

    (1)
        (A) );
 ``
            (C) shares of Settlement Common Stock, as defined 
 in 

section 3 of the Alaska Native Claims Settlement Act 
 (43 U.S.C. 1602);
 ``
            (D) a United States Treasury bill, note, or bond;
 ``
        (E) an investment fund held in a Federal, State, 
 or local government employee retirement plan;
 ``
        (F) an interest in a small business concern, if 
 the small business concern does not present a conflict 
 of interest; or
 ``
        (G) any asset described in subsection

    (b)

    (1) received as compensation from the primary occupation of 
 the spouse;
 ``

    (2) a spouse or dependent child of a Member of Congress 
 from trading any asset described in subsection

    (b)

    (1) that is 
 not owned by the spouse or Member of Congress in the course of 
 performing the primary occupation of the spouse; or
 ``

    (3) a Member of Congress or a spouse or dependent child 
 of a Member of Congress from holding any stock, bond, 
 commodity, future, or other form of security in a qualified 
 blind trust operated on behalf of, or for the benefit of, the 
 Member or the spouse or dependent child of the Member.
 ``
            (d) Civil Fines.--
 ``

    (1) In general.--The Attorney General or the Special 
 Counsel may bring a civil action in the appropriate United 
 States district court against any Member of Congress or spouse 
 or dependent child of a Member of Congress who engages in 
 conduct constituting a violation of this section and, upon 
 proof of such conduct by a preponderance of the evidence, such 
 Member of Congress or spouse or dependent child of such Member 
 of Congress shall be subject to a civil penalty of not more 
 than $100,000 for each violation or 10 percent of the most 
 recent combined value of each stock, bond, commodity, future, 
 or other form of security involved (whichever is greater). The 
 imposition of a civil penalty under this subsection does not 
 preclude any other criminal or civil statutory, common law, or 
 administrative remedy, which is available by law to the United 
 States or any other person.
 ``

    (2) Prohibiting use of office funds.--A Member of 
 Congress may not use funds made available from the Members' 
 Representational Allowance (in the case of a Representative in, 
 or Delegate or Resident Commissioner to, the Congress) or the 
 Senators' Official Personnel and Office Expense Account (in the 
 case of a Senator) to pay a penalty imposed under paragraph

    (1) .
 ``

    (3) Prohibiting use of campaign funds.--

Section 313

    (b) of 
 the Federal Election Campaign Act of 1971 (52 U.S.C. 30114

    (b) ) 
 is amended by adding at the end the following new paragraph:
 ```

    (3) Prohibiting use to pay certain penalties.--A 
 contribution or a donation described in subsection

    (a) may not 
 be used to pay a penalty imposed under 

section 2
            (d) (1) of the 
 End Congressional Stock Trading Act.'.
 ``

    (e) Nonrecognition of Gain.--
 ``

    (1) In general.--Paragraph

    (1) of 

section 1043

    (b) of the 
 Internal Revenue Code of 1986 is amended--
 ``
        (A) by striking `and' at the end of subparagraph
        (A) ;
 ``
        (B) by redesignating subparagraph
        (B) as 
 subparagraph
            (C) ;
 ``
            (C) by inserting after subparagraph
        (A) the 
 following new subparagraph:
 ```
        (B) any Member of Congress or any spouse or 
 dependent child of a Member of Congress, but only with 
 respect to a divestment of property required by the End 
 Congressional Stock Trading Act and only if, not later 
 than 60 days after the divestment of such property, the 
 individual uses the proceeds of the divestment to 
 obtain property which the individual is authorized to 
 own or trade under 

section 2
            (c) (1) of such Act, and'; 
 and
 ``
            (D) by striking `subparagraph
        (A) ' in 
 subparagraph
            (C) , as so redesignated, and inserting 
 `subparagraph
        (A) or
        (B) , whichever is applicable'.
 ``

    (2) Certificate of divestiture.--Subparagraph
        (B) of 
 

section 1043

    (b)

    (2) of such Code is amended--
 ``
        (A) by striking `or by' and inserting `by'; and
 ``
        (B) by inserting `, or by the applicable 
 congressional ethics committee, as defined in 

section 13101 of title 5, United States Code, in the case of 
 Members of Congress and spouses and dependent children 
 of Members of Congress,' after `judicial officers'.
 ``

    (3) No effect on subsequent sale of property.--Nothing in 
 the amendments made by this subsection shall be construed to 
 provide for the nonrecognition of gain with respect to the sale 
 of property obtained by a Member of Congress or any spouse or 
 dependent child of a Member of Congress with the proceeds of a 
 divestment required by this Act, as described in 

section 1043

    (b)

    (1)
        (B) of the Internal Revenue Code of 1986 (as added by 
 this subsection).
 ``

    (4) Effective date.--The amendments made by this 
 subsection shall apply to sales of property after the date of 
 the enactment of this Act.
 ``

    (f) Interpretive Guidance.--The Select Committee on Ethics of the 
Senate and the Committee on Ethics of the House of Representatives 
shall issue interpretive guidance regarding relevant terms not defined 
in this Act or elsewhere in statute.

``

SEC. 3. ANNUAL CERTIFICATION OF COMPLIANCE.

 ``

    (a) Certification.--
 ``

    (1) In general.--Except as provided in paragraph

    (2) , not 
 later than 60 days after the beginning of any session of 
 Congress, each Member of Congress shall submit to the 
 applicable official a written certification that the Member and 
 the Member's spouse are in compliance with the requirements of 
 this Act.
 ``

    (2) Special rule for first session after enactment.--In 
 the case of the first session of Congress which begins after 
 the date of the enactment of this Act, paragraph

    (1) shall 
 apply as if the reference to `60 days' was a reference to `180 
 days'.
 ``

    (b) Publication.--The applicable official shall publish the 
certifications submitted to the applicable official under paragraph

    (1) on a publicly available website.
 ``
            (c) Use of Certifications for Audits by Internal Revenue 
Service.--Upon receiving a certification under subsection

    (a) , the 
applicable official shall transmit the certification to the Secretary 
of the Treasury, who shall carry out such actions, including audits and 
investigations, as the Secretary determines appropriate to ensure the 
accuracy of the certification.
 ``
            (d) Applicable Official Defined.--In this section, the term 
`applicable official' means--
 ``

    (1) the Clerk of the House of Representatives (in the 
 case of a Representative in, or Delegate or Resident 
 Commissioner to, the Congress or the spouse of a Representative 
 in, or Delegate or Resident Commissioner to, the Congress); or
 ``

    (2) the Secretary of the Senate (in the case of a Senator 
 and the spouse of a Senator).''.
 <all>