PRIA Logo™
119-hres-725119th CongressWALLET

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.

Sponsored By: Representative Luna, Anna Paulina [R-FL-13]

Introduced

Summary

Ban on owning or trading many types of investments by Members of Congress and close family. The bill would create rules to force divestment, allow narrow exemptions, require certificates of compliance, and impose penalties to curb conflicts of interest.

Show full summary
  • Members, spouses, and dependent children would be barred from purchasing or holding most "covered investments." Those already covered would have 180 days to divest and anyone who becomes covered later would have 90 days to divest.
  • Spouses and dependent children may still trade if the activity is their primary occupation and the asset is not owned by the covered individual. Family trusts can qualify for exemptions only if they meet strict conditions and are certified by the ethics office.
  • Supervising ethics offices would issue certificates of divestiture, publish fine descriptions and outcomes, and may grant limited extensions for liquidity or vesting. Violations would trigger a 10 percent fee on the investment value plus disgorgement, paid to the U.S. Treasury, and fines cannot be paid with representational allowances or campaign funds.

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 2 costs, 0 mixed.

Ban on Members' stock trading

If adopted, this resolution would bar Members of Congress, their spouses, and dependent children from owning or trading most stocks, commodities, futures, or similar investments while serving. It would ban new purchases. Covered individuals would have to divest covered investments at fair market value within 180 days if covered on enactment, or 90 days if they become covered later. Assets acquired by marriage, inheritance, or divorce would need to be sold within 90 days. Supervising ethics offices could issue certificates of divestiture for tax rules under IRC section 1043 after proof of compliance. Limited exceptions could apply for qualifying family trusts and when a spouse or child trades as part of their main job. Offices could grant extensions for low liquidity, vesting, or contractual restrictions. Supervising offices would issue interpretive guidance for unclear terms.

Penalties and public disclosure rules

If adopted, this resolution would make violators pay a fee equal to 10% of the covered investment's value and disgorge any profits from violating trades. Disgorged money would go to the U.S. Treasury. Members could not pay penalties with their office allowance or campaign contributions. Each supervising ethics office would post each fine, the reason, and the result on a public website.

Sponsors & CoSponsors

Sponsor

Luna, Anna Paulina [R-FL-13]

FL • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
Back to Legislation