H.R. 3182

119 HR 3182 IH: To amend title 5, United States Code, to prohibit Members of Congress and their spouses from trading stock, and for other purposes.
 U.S. House of Representatives
 2025-05-05
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 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 3182  IN THE HOUSE OF REPRESENTATIVES   May 5, 2025   Mr. Bresnahan  introduced the following bill; which was referred to the  Committee on House Administration    A BILL
To amend title 5, United States Code, to prohibit Members of Congress and their spouses from trading stock, and for other purposes.
1.
Prohibiting transactions and ownership of certain financial instruments by Members of Congress and their spouses
(a)
In general
 Chapter 131  of title 5, United States Code, is amended by adding after subchapter III the following:
IV
Restrictions Regarding Financial Instruments
13151.
Definitions
In this subchapter—
(1)
the term  covered financial instrument —
(A)
means—
(i)
any investment in—
(I)
a security (as defined in section 3(a) of Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ));
(II)
a security future (as defined in that section); or
(III)
a commodity (as defined in section 1a of the Commodity Exchange Act ( 7 U.S.C. 1a )); and
(ii)
any economic interest comparable to an interest described in subclause (I) that is acquired through synthetic means, such as the use of a derivative, including an option, warrant, or other similar means; and
(B)
does not include—
(i)
a diversified mutual fund;
(ii)
a diversified exchange-traded fund;
(iii)
any investment in the Thrift Savings Plan; or
(iv)
a United States Treasury bill, note, or bond;
(2)
the term  Member of Congress  has the meaning given that term in section 13101; and
(3)
the term  qualified blind trust  has the meaning given that term in section 13104(f)(3).
13152.
Prohibition on certain transactions and holdings involving covered financial instruments
(a)
Prohibition
Except as provided in subsection (b), a Member of Congress and the Member’s spouse may not, during the term of service of the Member, hold, purchase, or sell any covered financial instrument.
(b)
Exceptions
(1)
Holding covered financial instruments
The prohibition on holding any covered financial instrument under subsection (a) shall not apply to a covered financial instrument a Member of Congress or the Member’s spouse owns immediately preceding the term of the Member.
(2)
Qualified blind trust
Subsection (a) does not apply to a covered financial instrument held in a qualified blind trust operated on behalf of, or for the benefit of, a Member of Congress or the Member’s spouse.
(c)
Fines
A Member of Congress who holds or conducts a transaction involving a covered financial instrument in violation of this section may be subject to a civil fine as described under section 13106(a).
  .
(b)
Clerical amendment
The table of sections for such chapter 131 is amended by inserting after the item relating to section 13146 the following:
SUBCHAPTER IV—RESTRICTIONS REGARDING FINANCIAL INSTRUMENTS
13151. Definitions.
13152. Prohibition on certain transactions and holdings involving covered financial instruments.
  .
(c)
Application
The amendments made by subsection (a) shall begin to apply to Members of Congress and their spouses on the first day of the One Hundred Twentieth Congress.