Legislation1w ago
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To authorize implementation grants to community-based nonprofits to operate one-stop reentry centers.
HR8548Rep. Kamlager-Dove, Sydney [D-CA-37] (D-CA)
introduced
HR3779119th CongressWALLET
STOCK Act 2.0
Sponsored By: Representative Rep. Min, Dave [D-CA-47]
Introduced
Summary
This bill would create an expanded, public-facing system of financial disclosures and anti-conflict rules for senior federal officials. It would force prompt reporting of federal payments to covered persons and add new divestiture, cooling-off, and penalty rules to limit conflicts of interest.
Show full summary
- Members of Congress, congressional staff, very senior executive officials, and judicial officers would have to file financial disclosures electronically and make them publicly available in machine-readable, searchable, and downloadable form with API access and accessibility standards.
- Federal Reserve bank presidents, vice presidents, and directors and their spouses or dependent children would be covered and the Fed's supervising ethics office and the Bureau of Consumer Financial Protection would have one year to build a public electronic filing system with searchable, downloadable, and API-ready data.
- The bill would create a prompt reporting regime for covered federal payments effective 90 days after enactment and a $5,000 civil fine for failures. It would add a new Subchapter IV requiring banned conflicted interests, mandatory divestiture timelines, cooling-off periods, and public reporting of divestiture extensions.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Ban stock and crypto trades for top officials
If enacted, top officials and some family members would be banned from holding, buying, or selling many securities, crypto from ICOs, and similar derivatives. They also could not serve on for‑profit boards. Allowed holdings would include diversified mutual funds and U.S. Treasury bonds. Covered people would have 120 days to sell covered holdings after enactment or when they enter office; inherited assets would have 120 days to sell. Extensions could total up to 150 days, with any single extension up to 45 days. Violations would bring a fine of at least 10% of the asset’s value. The ban would still apply for 120 days after leaving office. The bill would also name who can issue tax certificates of divestiture for each group.
Stricter reporting and fines for officials
If enacted, many covered officials would face new reporting rules. They would have to report most federal loans, grants, or contracts tied to them within 30 days of notice, and no later than 45 days after a payment is made or promised. Missing a covered‑payment report could bring a $5,000 fine per case. Missing a required stock‑transaction report would carry a $1,000 fine per case. Ethics offices would need to update their rules within one year. The covered‑payment reporting would start 90 days after enactment.
Public, searchable ethics filings online
If enacted, Congress, the courts, and Federal Reserve banks would post financial disclosures online in searchable, downloadable databases with an API. Members and candidates’ reports would be public upon enactment. The courts and the Fed would build e‑filing and public sites within one year, with some rules starting 18 months after enactment. The sites would meet federal accessibility rules, and no login would be needed to view filings. Judges and Fed officials could file electronically, and agencies could ask Congress in writing for more time.
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Sponsors & CoSponsors
Sponsor
Rep. Min, Dave [D-CA-47]
CA • D
Cosponsors
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 6/5/2025
Ansari
AZ • D
Sponsored 6/5/2025
Rep. Levin, Mike [D-CA-49]
CA • D
Sponsored 6/5/2025
Rep. Tlaib, Rashida [D-MI-12]
MI • D
Sponsored 6/5/2025
Rep. Deluzio, Christopher R. [D-PA-17]
PA • D
Sponsored 6/5/2025
Rep. Ramirez, Delia C. [D-IL-3]
IL • D
Sponsored 6/5/2025
Rep. Keating, William R. [D-MA-9]
MA • D
Sponsored 6/5/2025
Rep. Horsford, Steven [D-NV-4]
NV • D
Sponsored 6/5/2025
Rep. Stanton, Greg [D-AZ-4]
AZ • D
Sponsored 6/5/2025
Rep. Budzinski, Nikki [D-IL-13]
IL • D
Sponsored 6/9/2025
Rep. García, Jesús G. "Chuy" [D-IL-4]
IL • D
Sponsored 6/26/2025
Latimer
NY • D
Sponsored 7/22/2025
Rep. Doggett, Lloyd [D-TX-37]
TX • D
Sponsored 8/5/2025
Rep. Quigley, Mike [D-IL-5]
IL • D
Sponsored 8/15/2025
Rep. Harder, Josh [D-CA-9]
CA • D
Sponsored 9/2/2025
Rep. Thompson, Mike [D-CA-4]
CA • D
Sponsored 11/4/2025
Rep. Casar, Greg [D-TX-35]
TX • D
Sponsored 12/4/2025
Rep. Tran, Derek [D-CA-45]
CA • D
Sponsored 1/13/2026
Roll Call Votes
No roll call votes available for this bill.
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