Bipartisan Ban on Congressional Stock Ownership Act of 2023

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D JayapalSponsor

29 cosponsors · 21 D, 8 R

11 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This bill prohibits Members of Congress and their spouses from owning or trading stocks, bonds, commodities, futures, or any other form of security.

What it does: CRS summary · Introduced in House · Mar 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.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Bipartisan Ban on Congressional Stock Ownership Act of 2023

Latest action (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.

Policy area: Congress · Origin: House · Introduced: Mar 21, 2023

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.