Bill > S1879

This bill, known as the "Ban Congressional Stock Trading Act," requires Members of Congress, their spouses, and dependent children to place certain financial investments into qualified blind trusts to prevent potential conflicts of interest. The bill defines "covered investments" as securities, commodities, futures, and similar economic interests, while excluding diversified mutual funds, treasury bonds, and government employee retirement plans. Current and new Members of Congress must certify within 30 days and then divest or transfer these investments into a qualified blind trust within 120 days of the bill's enactment, with the possibility of up to 180 days of extensions. Members are prohibited from acquiring new covered investments and cannot dissolve or control blind trusts for 180 days after leaving office. The bill mandates that supervising ethics offices make trust agreements and asset information publicly available and imposes civil penalties equal to a member's monthly salary for non-compliance. Trustees and members must provide regular notifications about trust contents and changes, and supervising ethics offices are authorized to establish procedures, issue rules, and enforce these requirements.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/senate-bill/1879/all-info