[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3182 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 3182

 To amend title 5, United States Code, to prohibit Members of Congress 
     and their spouses from trading stock, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 5, 2025

Mr. Bresnahan introduced the following bill; which was referred to the 
                   Committee on House Administration

_______________________________________________________________________

                                 A BILL


 
 To amend title 5, United States Code, to prohibit Members of Congress 
     and their spouses from trading stock, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PROHIBITING TRANSACTIONS AND OWNERSHIP OF CERTAIN FINANCIAL 
              INSTRUMENTS BY MEMBERS OF CONGRESS AND THEIR SPOUSES.

    (a) In General.--Chapter 131 of title 5, United States Code, is 
amended by adding after subchapter III the following:

     ``SUBCHAPTER IV--RESTRICTIONS REGARDING FINANCIAL INSTRUMENTS

``Sec. 13151. Definitions
    ``In this subchapter--
            ``(1) the term `covered financial instrument'--
                    ``(A) means--
                            ``(i) any investment in--
                                    ``(I) a security (as defined in 
                                section 3(a) of Securities Exchange Act 
                                of 1934 (15 U.S.C. 78c(a)));
                                    ``(II) a security future (as 
                                defined in that section); or
                                    ``(III) a commodity (as defined in 
                                section 1a of the Commodity Exchange 
                                Act (7 U.S.C. 1a)); and
                            ``(ii) any economic interest comparable to 
                        an interest described in subclause (I) that is 
                        acquired through synthetic means, such as the 
                        use of a derivative, including an option, 
                        warrant, or other similar means; and
                    ``(B) does not include--
                            ``(i) a diversified mutual fund;
                            ``(ii) a diversified exchange-traded fund;
                            ``(iii) any investment in the Thrift 
                        Savings Plan; or
                            ``(iv) a United States Treasury bill, note, 
                        or bond;
            ``(2) the term `Member of Congress' has the meaning given 
        that term in section 13101; and
            ``(3) the term `qualified blind trust' has the meaning 
        given that term in section 13104(f)(3).
``Sec. 13152. Prohibition on certain transactions and holdings 
              involving covered financial instruments
    ``(a) Prohibition.--Except as provided in subsection (b), a Member 
of Congress and the Member's spouse may not, during the term of service 
of the Member, hold, purchase, or sell any covered financial 
instrument.
    ``(b) Exceptions.--
            ``(1) Holding covered financial instruments.--The 
        prohibition on holding any covered financial instrument under 
        subsection (a) shall not apply to a covered financial 
        instrument a Member of Congress or the Member's spouse owns 
        immediately preceding the term of the Member.
            ``(2) Qualified blind trust.--Subsection (a) does not apply 
        to a covered financial instrument held in a qualified blind 
        trust operated on behalf of, or for the benefit of, a Member of 
        Congress or the Member's spouse.
    ``(c) Fines.--A Member of Congress who holds or conducts a 
transaction involving a covered financial instrument in violation of 
this section may be subject to a civil fine as described under section 
13106(a).''.
    (b) Clerical Amendment.--The table of sections for such chapter 131 
is amended by inserting after the item relating to section 13146 the 
following:

      ``subchapter iv--restrictions regarding financial instruments

``13151. Definitions.
``13152. Prohibition on certain transactions and holdings involving 
                            covered financial instruments.''.
    (c) Application.--The amendments made by subsection (a) shall begin 
to apply to Members of Congress and their spouses on the first day of 
the One Hundred Twentieth Congress.
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