PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
Congressional Research Service
No official summary is available in the imported record yet.
People & committees
Rep. Burchett, Tim [R-TN-2] · R–TN
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
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.
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.
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.
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.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jul 28, 2026. Consult Congress.gov for the current record.
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PlainBill explanation
Based on the full Introduced in House · 2025-03-06 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
As introduced in the House on March 6, 2025, this bill would generally bar members of Congress, their spouses and dependent children from owning or trading stocks, bonds and other investments, require them to dispose of prohibited holdings within set deadlines, and allow court-imposed fines of up to $100,000 per violation. Exceptions would cover U.S. Treasury debt, government employee retirement funds, certain Alaska Native settlement shares, and small-business interests that create no conflict with public duties; investment funds held by many investors would also qualify if they create no such conflict and have no stated policy of concentrating investments too heavily. Families could keep or trade investments received as pay from a spouse’s main job, and spouses and dependent children could trade assets owned by neither the lawmaker nor the spouse as part of the spouse’s main job. People required to sell investments could qualify to postpone taxes on the profits if they reinvest the proceeds in permitted assets within 60 days; this tax treatment would not apply to a later sale of those replacement assets.
2025-03-06: Introduced in House
A Member of Congress or a spouse or dependent child of a Member of Congress may not own an interest in or trade (except as a divestment) any stock, bond, commodity, future, or other form of security, including an interest in a hedge fund, a derivative, option, or other complex investment vehicle.
Except as provided in clause (ii), an individual who is a Member of Congress or a spouse or dependent child of a Member of Congress on the date of enactment of this Act shall complete the divestment of any asset described in paragraph (1) by not later than 180 days after the date of enactment of this Act.
The Attorney General or the Special Counsel may bring a civil action in the appropriate United States district court against any Member of Congress or spouse or dependent child of a Member of Congress who engages in conduct constituting a violation of this section and, upon proof of such conduct by a preponderance of the evidence, such Member of Congress or spouse or dependent child of such Member of Congress shall be subject to a civil penalty of not more than $100,000 for each violation.
The term diversified, with respect to an investment fund, means that the investment fund does not have a stated policy of overly concentrating its investments.
(c) Exceptions Nothing in this section shall be construed to prevent— (1) a Member of Congress or a spouse or dependent child of a Member of Congress from owning or trading— (A) a widely held investment fund, if the widely held investment fund— (i) does not present a conflict of interest; and (ii) is diversified; (B) shares of Settlement Common Stock issued under section 7(g)(1)(A) of the Alaska Native Claims Settlement Act (43 U.S.C. 1606(g)(1)(A)); (C) shares of Settlement Common Stock, as defined in section 3 of the Alaska Native Claims Settlement Act (43 U.S.C. 1602); (D) a United States Treasury bill, note, or bond; (E) an investment fund held in a Federal, State, or local government employee retirement plan; (F) an interest in a small business concern, if the small business concern does not present a conflict of interest; or (G) any asset described in subsection (b)(1) received as compensation from the primary occupation of the spouse; or (2) a spouse or dependent child of a Member of Congress from trading any asset described in subsection (b)(1) that is not owned by the spouse or Member of Congress in the course of performing the primary occupation of the spouse.
(B) any Member of Congress or any spouse or dependent child of a Member of Congress, but only with respect to a divestment of property required by the End Congressional Stock Trading Act and only if, not later than 60 days after the divestment of such property, the individual uses the proceeds of the divestment to obtain property which the individual is authorized to own or trade under section 2(c)(1) of such Act, and
(3) No effect on subsequent sale of property Nothing in the amendments made by this subsection shall be construed to provide for the nonrecognition of gain with respect to the sale of property obtained by a Member of Congress or any spouse or dependent child of a Member of Congress with the proceeds of a divestment required by this Act, as described in section 1043(b)(1)(B) of the Internal Revenue Code of 1986 (as added by this subsection).
The prohibition would cover ownership as well as trading, but would permit transactions to dispose of covered assets.
may not own an interest in or trade (except as a divestment) any stock, bond, commodity, future, or other form of security, including an interest in a hedge fund, a derivative, option, or other complex investment vehicle.
People already covered when the bill became law would generally have 180 days after enactment to dispose of prohibited assets.
Except as provided in clause (ii), an individual who is a Member of Congress or a spouse or dependent child of a Member of Congress on the date of enactment of this Act shall complete the divestment of any asset described in paragraph (1) by not later than 180 days after the date of enactment of this Act.
People who became covered after enactment would generally have 90 days after becoming a Member, spouse, or dependent child to dispose of prohibited assets.
Except as provided in clause (ii), an individual who becomes a Member of Congress or a spouse or dependent child of a Member of Congress after the date of enactment of this Act shall complete the divestment of any asset described in paragraph (1) by not later than 90 days after the date on which the individual becomes a Member of Congress or a spouse or dependent child of a Member of Congress.
Interests in hedge funds, venture capital funds, and other privately held complex investment vehicles would receive a five-year disposal deadline: from enactment for people already covered, or from becoming covered for others.
For an asset described in paragraph (1) that is an interest in a hedge fund, venture capital fund, or other privately held complex investment vehicle, an individual who is a Member of Congress or a spouse or dependent child of a Member of Congress on the date of enactment of this Act shall complete the divestment of the asset by not later than 5 years after the date of enactment of this Act.
For an asset described in paragraph (1) that is an interest in a hedge fund, venture capital fund, or other privately held complex investment vehicle, an individual who becomes a Member of Congress or a spouse or dependent child of a Member of Congress after the date of enactment of this Act shall complete the divestment of the asset by not later than 5 years after the date on which the individual becomes a Member of Congress or a spouse or dependent child of a Member of Congress.
Covered assets received during a Member's service, such as through inheritance, would have to be disposed of within 180 days of receipt, subject to the bill's exceptions.
An individual serving as a Member of Congress or a spouse or dependent child of an individual serving as a Member of Congress who receives any asset described in paragraph (1) during the period of such service, such as from an inheritance, shall complete the divestment of the asset by not later than 180 days after the date on which the individual receives the asset.
(c) Exceptions Nothing in this section shall be construed to prevent—
Covered people could own or trade a widely held investment fund if it presented no conflict of interest and was diversified. The bill defines diversified as having no stated policy of overly concentrating investments.
The term diversified, with respect to an investment fund, means that the investment fund does not have a stated policy of overly concentrating its investments.
Nothing in this section shall be construed to prevent— (1) a Member of Congress or a spouse or dependent child of a Member of Congress from owning or trading— (A) a widely held investment fund, if the widely held investment fund— (i) does not present a conflict of interest; and (ii) is diversified;
The ownership and trading exceptions would also cover specified Alaska Native settlement shares, United States Treasury bills, notes and bonds, and investment funds held in government employee retirement plans.
Nothing in this section shall be construed to prevent— (1) a Member of Congress or a spouse or dependent child of a Member of Congress from owning or trading—
(B) shares of Settlement Common Stock issued under section 7(g)(1)(A) of the Alaska Native Claims Settlement Act (43 U.S.C. 1606(g)(1)(A)); (C) shares of Settlement Common Stock, as defined in section 3 of the Alaska Native Claims Settlement Act (43 U.S.C. 1602); (D) a United States Treasury bill, note, or bond; (E) an investment fund held in a Federal, State, or local government employee retirement plan;
Covered people could own or trade interests in small businesses that presented no conflict of interest, and otherwise covered assets received as compensation from a spouse's primary occupation.
Nothing in this section shall be construed to prevent— (1) a Member of Congress or a spouse or dependent child of a Member of Congress from owning or trading—
(F) an interest in a small business concern, if the small business concern does not present a conflict of interest; or (G) any asset described in subsection (b)(1) received as compensation from the primary occupation of the spouse;
A separate exception would allow a spouse or dependent child to trade covered assets in the course of the spouse's primary occupation, provided the assets were not owned by the spouse or Member. The wording does not expressly exclude assets owned by the dependent child.
(2) a spouse or dependent child of a Member of Congress from trading any asset described in subsection (b)(1) that is not owned by the spouse or Member of Congress in the course of performing the primary occupation of the spouse.
The bill incorporates existing statutory definitions for commodity, dependent child, Member of Congress, security, small business concern, and widely held investment fund.
(1) Commodity The term commodity has the meaning given that term in section 1a of the Commodity Exchange Act (7 U.S.C. 1a). (2) Dependent child The term dependent child has the meaning given that term in section 13101 of title 5, United States Code.
(4) Member of Congress The term Member of Congress has the meaning given that term in section 13101 of title 5, United States Code. (5) Security The term security has the meaning given that term in section 3(a) of Securities Exchange Act of 1934 (15 U.S.C. 78c(a)). (6) Small business concern The term small business concern has the meaning given that term under section 3 of the Small Business Act (15 U.S.C. 632). (7) Widely held investment fund The term widely held investment fund means a widely held investment fund described in 13104(f)(8) of title 5, United States Code.
The Attorney General or Special Counsel could bring a civil case in federal district court. A violation proven by a preponderance of the evidence would carry a civil penalty of up to $100,000 per violation.
The Attorney General or the Special Counsel may bring a civil action in the appropriate United States district court against any Member of Congress or spouse or dependent child of a Member of Congress who engages in conduct constituting a violation of this section and, upon proof of such conduct by a preponderance of the evidence, such Member of Congress or spouse or dependent child of such Member of Congress shall be subject to a civil penalty of not more than $100,000 for each violation.
A civil penalty under the bill would not rule out other criminal, civil, or administrative remedies already available by law.
The imposition of a civil penalty under this subsection does not preclude any other criminal or civil statutory, common law, or administrative remedy, which is available by law to the United States or any other person.
The proposed tax amendment would add Members, spouses, and dependent children to section 1043(b)(1) for required divestments, conditioned on using the proceeds within 60 days to obtain property permitted under the bill's ownership exceptions. The resulting tax treatment cannot be fully determined without the referenced statute.
Paragraph (1) of section 1043(b) of the Internal Revenue Code of 1986 is amended—
(B) any Member of Congress or any spouse or dependent child of a Member of Congress, but only with respect to a divestment of property required by the End Congressional Stock Trading Act and only if, not later than 60 days after the divestment of such property, the individual uses the proceeds of the divestment to obtain property which the individual is authorized to own or trade under section 2(c)(1) of such Act, and
The certificate-of-divestiture amendment would add the applicable congressional ethics committee to the existing statutory provision for Members and their spouses and dependent children.
(2) Certificate of divestiture Subparagraph (B) of section 1043(b)(2) of such Code is amended— (A) by striking or by and inserting by; and (B) by inserting , or by the applicable congressional ethics committee, as defined in section 13101 of title 5, United States Code, in the case of Members of Congress and spouses and dependent children of Members of Congress, after judicial officers.
The tax amendments would apply to property sales after enactment. They would not provide nonrecognition of gain on a later sale of property bought with required-divestment proceeds.
Nothing in the amendments made by this subsection shall be construed to provide for the nonrecognition of gain with respect to the sale of property obtained by a Member of Congress or any spouse or dependent child of a Member of Congress with the proceeds of a divestment required by this Act, as described in section 1043(b)(1)(B) of the Internal Revenue Code of 1986 (as added by this subsection).
The amendments made by this subsection shall apply to sales of property after the date of the enactment of this Act.
The Senate and House ethics committees would have to issue interpretive guidance on relevant terms not defined in the bill or elsewhere in statute.
The Select Committee on Ethics of the Senate and the Committee on Ethics of the House of Representatives shall issue interpretive guidance regarding relevant terms not defined in this Act or elsewhere in statute.
The supplied July 28, 2026 source snapshot records House introduction and referral to four committees on March 6, 2025, followed by referral to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development on March 28, 2025.
Source snapshot updated 2026-07-28T08:05:53Z. 2025-03-28: Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development. 2025-03-06: 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.
2025-03-06: Introduced in House
A closer look
Reviewed version: Introduced in House · 2025-03-06. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated provision or policy change attached to appropriations was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for particular recipients or places was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials; the bundle does not establish formal earmark status in accompanying materials.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
Findings to examine
The findings identify narrow exceptions and special treatment related to the bill's main policy. Classification does not establish improper purpose, and the effects of amendments to unreproduced law remain qualified.
Covered holders of specified Alaska Native settlement shares would receive an express exception allowing ownership and trading despite the general investment prohibition.
Nothing in this section shall be construed to prevent— (1) a Member of Congress or a spouse or dependent child of a Member of Congress from owning or trading—
(B) shares of Settlement Common Stock issued under section 7(g)(1)(A) of the Alaska Native Claims Settlement Act (43 U.S.C. 1606(g)(1)(A)); (C) shares of Settlement Common Stock, as defined in section 3 of the Alaska Native Claims Settlement Act (43 U.S.C. 1602);
Covered owners of small-business interests would receive an ownership and trading exception if the business presented no conflict of interest.
Nothing in this section shall be construed to prevent— (1) a Member of Congress or a spouse or dependent child of a Member of Congress from owning or trading—
(F) an interest in a small business concern, if the small business concern does not present a conflict of interest;
Occupation-related exceptions would permit covered people to own or trade assets received as compensation from a spouse's primary occupation, and permit spouses or dependent children to trade covered assets not owned by the spouse or Member in the course of that occupation.
Nothing in this section shall be construed to prevent— (1) a Member of Congress or a spouse or dependent child of a Member of Congress from owning or trading—
(G) any asset described in subsection (b)(1) received as compensation from the primary occupation of the spouse; or (2) a spouse or dependent child of a Member of Congress from trading any asset described in subsection (b)(1) that is not owned by the spouse or Member of Congress in the course of performing the primary occupation of the spouse.
Covered holders of hedge-fund, venture-capital-fund, or other privately held complex investment interests would receive five years to dispose of those interests under the initial compliance rules, instead of the ordinary 180-day or 90-day deadlines.
Except as provided in clause (ii), an individual who is a Member of Congress or a spouse or dependent child of a Member of Congress on the date of enactment of this Act shall complete the divestment of any asset described in paragraph (1) by not later than 180 days after the date of enactment of this Act.
For an asset described in paragraph (1) that is an interest in a hedge fund, venture capital fund, or other privately held complex investment vehicle, an individual who is a Member of Congress or a spouse or dependent child of a Member of Congress on the date of enactment of this Act shall complete the divestment of the asset by not later than 5 years after the date of enactment of this Act.
Except as provided in clause (ii), an individual who becomes a Member of Congress or a spouse or dependent child of a Member of Congress after the date of enactment of this Act shall complete the divestment of any asset described in paragraph (1) by not later than 90 days after the date on which the individual becomes a Member of Congress or a spouse or dependent child of a Member of Congress.
For an asset described in paragraph (1) that is an interest in a hedge fund, venture capital fund, or other privately held complex investment vehicle, an individual who becomes a Member of Congress or a spouse or dependent child of a Member of Congress after the date of enactment of this Act shall complete the divestment of the asset by not later than 5 years after the date on which the individual becomes a Member of Congress or a spouse or dependent child of a Member of Congress.
The tax amendment would add Members, spouses, and dependent children to section 1043(b)(1) for divestments required by this bill, subject to using the proceeds to obtain permitted property within 60 days. This is a tax-related provision specifically tied to the people subject to the divestment requirement; the resulting tax treatment cannot be fully determined without the referenced statute.
(e) Nonrecognition of gain (1) In general Paragraph (1) of section 1043(b) of the Internal Revenue Code of 1986 is amended—
(B) any Member of Congress or any spouse or dependent child of a Member of Congress, but only with respect to a divestment of property required by the End Congressional Stock Trading Act and only if, not later than 60 days after the divestment of such property, the individual uses the proceeds of the divestment to obtain property which the individual is authorized to own or trade under section 2(c)(1) of such Act, and
Full text preserved for this analysis. Legislative record snapshot: Jul 28, 2026. How PlainBill uses AI