PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Jan 24, 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. Additionally, a loss stemming from a prohibited holding or transaction may not be used as an income tax deduction.
Each Member must submit an annual certification of compliance, and the Government Accountability Office must audit Members' compliance with the bill's provisions.
People & committees
Sen. Hawley, Josh [R-MO] · R–MO
Legislative record
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Read twice and referred to the Committee on Finance.
Introduced in Senate
Primary sources
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Source last updated: Jul 24, 2024. Consult Congress.gov for the current record.
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