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Bipartisan Ban on Congressional Stock Ownership Act of 2023

USA118th CongressHR-1679| House 
| Updated: 3/21/2023
Pramila Jayapal

Pramila Jayapal

Democratic Representative

Washington

Cosponsors (29)
Matthew M. Rosendale (Republican)Tim Burchett (Republican)Barbara Lee (Democratic)Mark Pocan (Democratic)Christopher R. Deluzio (Democratic)Elijah Crane (Republican)Keith Self (Republican)Ken Buck (Republican)Paul Tonko (Democratic)Rosa L. DeLauro (Democratic)Jake Auchincloss (Democratic)Matt Cartwright (Democratic)Daniel S. Goldman (Democratic)Jerrold Nadler (Democratic)Mark Takano (Democratic)Betty McCollum (Democratic)Eleanor Holmes Norton (Democratic)Val T. Hoyle (Democratic)Joe Neguse (Democratic)Andy Kim (Democratic)Summer L. Lee (Democratic)Matt Gaetz (Republican)Michael Lawler (Republican)Jesús G. "Chuy" García (Democratic)Jimmy Gomez (Democratic)Rashida Tlaib (Democratic)Josh Brecheen (Republican)Grace F. Napolitano (Democratic)Katie Porter (Democratic)

Committee on House Administration, Ways and Means Committee, Agriculture Committee, Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Bipartisan Ban on Congressional Stock Ownership Act of 2023 This bill prohibits Members of Congress and their spouses from owning or trading stocks, bonds, commodities, futures, or any other form of security. Each current Member must divest within 180 days after the bill is enacted and each new Member must divest within 180 days after becoming a Member. However, Members and their spouses have 5 years to divest from specified complex investment vehicles. The bill does not apply to certain investments, such as investments in widely held investment funds that are diversified and do not present a conflict of interest and investments held in government employee retirement plans. A Member or spouse who violates the bill may be subject to a fine of up to $50,000 for each violation. The bill permits a Member or spouse who is required to divest property under the bill to avoid recognizing gain for income tax purposes from the sale of that property to the extent that the Member or spouse purchases permitted bonds or diversified investment funds within 60 days of the divestiture.
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Timeline

Bill from Previous Congress

HR 117-6678
Bipartisan Ban on Congressional Stock Ownership Act of 2022
Mar 21, 2023
Introduced in House
Mar 21, 2023
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.
  • Bill from Previous Congress

    HR 117-6678
    Bipartisan Ban on Congressional Stock Ownership Act of 2022


  • March 21, 2023
    Introduced in House


  • March 21, 2023
    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.

Congress

Related Bills

  • HR 118-7264: Stop Politicians Profiting from War Act of 2024

Bipartisan Ban on Congressional Stock Ownership Act of 2023

USA118th CongressHR-1679| House 
| Updated: 3/21/2023
Bipartisan Ban on Congressional Stock Ownership Act of 2023 This bill prohibits Members of Congress and their spouses from owning or trading stocks, bonds, commodities, futures, or any other form of security. Each current Member must divest within 180 days after the bill is enacted and each new Member must divest within 180 days after becoming a Member. However, Members and their spouses have 5 years to divest from specified complex investment vehicles. The bill does not apply to certain investments, such as investments in widely held investment funds that are diversified and do not present a conflict of interest and investments held in government employee retirement plans. A Member or spouse who violates the bill may be subject to a fine of up to $50,000 for each violation. The bill permits a Member or spouse who is required to divest property under the bill to avoid recognizing gain for income tax purposes from the sale of that property to the extent that the Member or spouse purchases permitted bonds or diversified investment funds within 60 days of the divestiture.
View Full Text

Suggested Questions

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

Timeline

Bill from Previous Congress

HR 117-6678
Bipartisan Ban on Congressional Stock Ownership Act of 2022
Mar 21, 2023
Introduced in House
Mar 21, 2023
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.
  • Bill from Previous Congress

    HR 117-6678
    Bipartisan Ban on Congressional Stock Ownership Act of 2022


  • March 21, 2023
    Introduced in House


  • March 21, 2023
    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.
Pramila Jayapal

Pramila Jayapal

Democratic Representative

Washington

Cosponsors (29)
Matthew M. Rosendale (Republican)Tim Burchett (Republican)Barbara Lee (Democratic)Mark Pocan (Democratic)Christopher R. Deluzio (Democratic)Elijah Crane (Republican)Keith Self (Republican)Ken Buck (Republican)Paul Tonko (Democratic)Rosa L. DeLauro (Democratic)Jake Auchincloss (Democratic)Matt Cartwright (Democratic)Daniel S. Goldman (Democratic)Jerrold Nadler (Democratic)Mark Takano (Democratic)Betty McCollum (Democratic)Eleanor Holmes Norton (Democratic)Val T. Hoyle (Democratic)Joe Neguse (Democratic)Andy Kim (Democratic)Summer L. Lee (Democratic)Matt Gaetz (Republican)Michael Lawler (Republican)Jesús G. "Chuy" García (Democratic)Jimmy Gomez (Democratic)Rashida Tlaib (Democratic)Josh Brecheen (Republican)Grace F. Napolitano (Democratic)Katie Porter (Democratic)

Committee on House Administration, Ways and Means Committee, Agriculture Committee, Financial Services Committee

Congress

Related Bills

  • HR 118-7264: Stop Politicians Profiting from War Act of 2024
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted