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To require certain officers and employees in the executive branch of the Federal Government to divest certain financial interests, and for other purposes.

USA116th CongressHR-7581| House 
| Updated: 7/13/2020
David N. Cicilline

David N. Cicilline

Democratic Representative

Rhode Island

Oversight and Government Reform Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill requires certain government officials in the executive branch and their spouses to divest corporate and other financial interests. Specifically, such officials must divest into a qualified blind trust any financial interest in a business for which the official is a trustee, partner, officer, director, or more than 10% shareholder. The trustee of the qualified blind trust must sell the interest and use the proceeds to purchase conflict-free holdings. The bill's requirements apply to cabinet officials, senior executives, policy advisors, presidential appointees, specified White House personnel, and their spouses.
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Timeline
Jul 13, 2020
Introduced in House
Jul 13, 2020
Referred to the House Committee on Oversight and Reform.
  • July 13, 2020
    Introduced in House


  • July 13, 2020
    Referred to the House Committee on Oversight and Reform.

Government Operations and Politics

Related Bills

  • HR 116-706: Restoring the Public Trust Act
Congressional-executive branch relationsCongressional oversightCorporate finance and managementFamily relationshipsFederal officialsFinancial services and investmentsGovernment ethics and transparency, public corruptionSecurities

To require certain officers and employees in the executive branch of the Federal Government to divest certain financial interests, and for other purposes.

USA116th CongressHR-7581| House 
| Updated: 7/13/2020
This bill requires certain government officials in the executive branch and their spouses to divest corporate and other financial interests. Specifically, such officials must divest into a qualified blind trust any financial interest in a business for which the official is a trustee, partner, officer, director, or more than 10% shareholder. The trustee of the qualified blind trust must sell the interest and use the proceeds to purchase conflict-free holdings. The bill's requirements apply to cabinet officials, senior executives, policy advisors, presidential appointees, specified White House personnel, and their spouses.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jul 13, 2020
Introduced in House
Jul 13, 2020
Referred to the House Committee on Oversight and Reform.
  • July 13, 2020
    Introduced in House


  • July 13, 2020
    Referred to the House Committee on Oversight and Reform.
David N. Cicilline

David N. Cicilline

Democratic Representative

Rhode Island

Oversight and Government Reform Committee

Government Operations and Politics

Related Bills

  • HR 116-706: Restoring the Public Trust Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Congressional-executive branch relationsCongressional oversightCorporate finance and managementFamily relationshipsFederal officialsFinancial services and investmentsGovernment ethics and transparency, public corruptionSecurities