Bill
Bill > HR389
US HR389
US HR389PORTFOLIO Act Preventing Opportunistic Returns on Trades and Futures by Officials, Leadership, and Individuals in Office Act
summary
Introduced
01/17/2023
01/17/2023
In Committee
01/17/2023
01/17/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Ethics in Government Act of 1978 to restrict trading and ownership of covered investments by each Federal employee, and for other purposes.
AI Summary
This bill, the Preventing Opportunistic Returns on Trades and Futures by Officials, Leadership, and Individuals in Office Act (PORTFOLIO Act), amends the Ethics in Government Act of 1978 to restrict trading and ownership of "covered investments" (generally securities, commodities, futures, cryptocurrencies, and other similar financial instruments) by federal employees, Members of Congress, the President, and the Vice President. The bill requires these "covered persons" to divest from or place covered investments in a qualified blind trust within 180 days. It also imposes penalties for violations, enhances financial disclosure requirements, and grants additional authorities to the supervising ethics offices to implement and enforce the new restrictions.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Referred to the Committee on Oversight and Accountability, and in addition to the Committees on the Judiciary, House Administration, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (on 01/17/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/389/all-info |
| BillText | https://www.congress.gov/118/bills/hr389/BILLS-118hr389ih.pdf |
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