summary
Introduced
03/21/2023
03/21/2023
In Committee
03/21/2023
03/21/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To prohibit stock trading and ownership by Members of Congress and spouses of Members of Congress, and for other purposes.
AI Summary
This bill, the Bipartisan Ban on Congressional Stock Ownership Act of 2023, prohibits members of Congress and their spouses from owning or trading any stocks, bonds, commodities, futures, or other securities, with some exceptions. Current members and their spouses must divest these assets within 180 days, or within 5 years for certain complex investment vehicles. New members and their spouses have the same divestment timeline. The bill provides civil penalties of up to $50,000 for violations and allows for nonrecognition of capital gains from required divestitures. The Senate and House ethics committees will issue guidance on interpreting the key terms used in the bill.
Committee Categories
Business and Industry
Sponsors (30)
Pramila Jayapal (D)*,
Jake Auchincloss (D),
Josh Brecheen (R),
Ken Buck (R),
Tim Burchett (R),
Matt Cartwright (D),
Eli Crane (R),
Rosa DeLauro (D),
Chris Deluzio (D),
Matt Gaetz (R),
Chuy García (D),
Dan Goldman (D),
Jimmy Gomez (D),
Val Hoyle (D),
Andy Kim (D),
Mike Lawler (R),
Barbara Lee (D),
Summer Lee (D),
Betty McCollum (D),
Jerry Nadler (D),
Grace Napolitano (D),
Joe Neguse (D),
Eleanor Holmes Norton (D),
Mark Pocan (D),
Katie Porter (D),
Matt Rosendale (R),
Keith Self (R),
Mark Takano (D),
Rashida Tlaib (D),
Paul Tonko (D),
Last Action
Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, 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 03/21/2023)
Taxonomy
Government Operations
- ‐ Government Ethics and Conflicts of Interest
- ‐ Legislative Branch Operations and Rules
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/1679/all-info | 03/22/2023 |
| BillText | https://www.congress.gov/118/bills/hr1679/BILLS-118hr1679ih.pdf | 04/06/2023 |
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