S. 439 · 118th Congress
Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act
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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.
R
HawleySponsorNo cosponsors.
Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act
What it does: CRS summary · Introduced in Senate · Feb 15, 2023
Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act
This bill prohibits Members of Congress (or their spouses) from holding or trading certain investments (e.g., individual stocks and related financial instruments other than diversified investment funds or U.S. Treasury securities).
The prohibition does not apply to assets held in a qualified blind trust or to sales by a Member to come into compliance with the bill's requirements. Specifically, the bill allows for sales by current Members during the 180 days following the bill's enactment and for sales by future Members during the 180 days following the commencement of their service.
Any profit made in violation of the prohibition must be disgorged to the Treasury and may subject the Member to a civil fine.
Each Member must submit an annual certification of compliance, and the Government Accountability Office must audit Members' compliance with the bill's provisions.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act
Latest action (Feb 15, 2023): Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Policy area: Congress · Origin: Senate · Introduced: Feb 15, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.