H.R. 3550 · 112th Congress
RESTRICT Act
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
DuffySponsor6 cosponsors · 1 D, 5 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Restoring Ethical Standards, Transparency, and Responsibility in Congressional Trading Act or RESTRICT Act - Amends the Ethics in Government Act of 1978 to require the President, the Vice President, Members of Congress, and certain federal officers and employees to: (1) place all of his or her stocks, bonds, commodities futures, and other forms of…
What it does: CRS summary · Introduced in House · Dec 2, 2011
Restoring Ethical Standards, Transparency, and Responsibility in Congressional Trading Act or RESTRICT Act - Amends the Ethics in Government Act of 1978 to require the President, the Vice President, Members of Congress, and certain federal officers and employees to: (1) place all of his or her stocks, bonds, commodities futures, and other forms of securities, including securities held jointly with a spouse or dependent child, in a qualified blind trust; or (2) file a report with the appropriate ethics officer, within three business days after a transaction is settled, on any purchase, sale, or exchange in stocks, bonds, commodities futures, and other forms of securities, including those jointly held with the individual's spouse or dependent child.
Exempts from this requirement any financial interests in or income derived from: (1) the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS), including the Thrift Savings Plan (TSP); (2) any other federal retirement system for U.S. officers and employees, including the President, or for members of the uniformed services; or (3) benefits received under the Social Security Act.
Subjects violators of this Act to specified civil and criminal penalties.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: RESTRICT Act
Also known as: Restoring Ethical Standards, Transparency, and Responsibility in Congressional Trading Act
Latest action (Dec 5, 2011): Referred to the Subcommittee on the Constitution.
Policy area: Congress · Origin: House · Introduced: Dec 2, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.