Bill > S3631

This bill, the Bipartisan Ban on Congressional Stock Ownership Act of 2022, prohibits members of Congress and their spouses from owning or trading any stocks, bonds, commodities, futures, or other securities, including interests in hedge funds, derivatives, or other complex investment vehicles. There are exceptions for widely held investment funds that do not present conflicts of interest, shares in Alaska Native Claims Settlement Act corporations, U.S. Treasury securities, government employee retirement plans, and small businesses that do not present conflicts of interest. Members and spouses must divest such assets within 180 days, or within 5 years for certain complex investments. Violations can result in civil penalties of up to $50,000. The bill also allows for nonrecognition of capital gains from required divestitures.