,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #gebf  ,,in ,,the ,,house ,,of  
,,representatives  ,july #i1 #bjbj,mr4  
,golden introduced the following bill2  
which was referred to the ,committee on 
,oversight and ,reform1 and in addition 
to the ,committee on ,house             
,administration1 for a period to be     
subsequently determined by the ,speaker1
 in each case for consideration of such 
provisions as fall within the           
jurisdiction of the committee concerned 
,a ,,bill  ,to amend the ,ethics in     
,government ,act of #aigh to require    
senior ,government officials and their  
family members to divest foreign        
financial interests1 and for other      
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,stop ,foreign      
,payoffs ,act4  #b4 ,divestiture of     
foreign financial interests  7a7 ,in    
general ,the ,ethics in ,government ,act
 of #aigh 7#e ,u4,s4,c4 ,app47 is       
amended by adding after title ,v the    
following3  ,,vi ,limitation on ,foreign

 ,financial ,interests  #fja4           
,limitation on foreign financial        
interests  7a7 ,divestiture  7#a7 ,in   
general ,a covered individual may not   
hold any foreign financial interest1 and
 shall divest of any such interest by-- 
7,a7 converting each such interest to   
cash or other investment2 or  7,b7      
placing each such interest in a         
qualified blind trust as defined in     
section #ajb7;f77#c7 or a diversified   
trust under section #ajb7;f77#d77;,b74  
7#b7 ,application  7,a7 ,not later than 
#cj days after the date regulations are 
promulgated to carry out this section1 a
 covered individual holding any foreign 
financial interest on such date shall   
divest of such interest pursuant to     
paragraph 7#a74  7,b7 ,within #cj days  
that an individual assumes an office    
described under subparagraph 7,a71 7,b71
 or 7,c7 of subsection 7d77#a71 such    
individual1 and any applicable          
individual described under subparagraph 
7,d7 of such subsection1 shall divest of

 such interest pursuant to paragraph    
7#a74  7b7 ,prohibition on receiving    
foreign payments ,a covered individual  
may not receive any wage1 salary1       
dividend1 or any other payment from any 
foreign business4  7c7 ,enforcement     
7#a7 ,in general ,the ,attorney ,general
 may bring a civil action in any        
appropriate ,united ,states district    
court against any individual who        
knowingly and willfully violates the    
provisions of this section4 ,the court  
in which such action is brought may     
assess against such individual a civil  
penalty in any amount not to exceed     
twice the value of any foreign financial
 interest held1 or any unlawfully       
foreign payment received1 in violation  
of this section4  7#b7 ,negligent       
violations ,the ,attorney ,general may  
bring a civil action in any appropriate 
,united ,states district court against  
any individual who negligently violates 
the provisions of this section4 ,the    
court in which such action is brought   

may assess against such individual a    
civil penalty in any amount not to      
exceed the value of any foreign         
financial interest held1 or any         
unlawfully foreign payment received1 in 
violation of this section4  7d7         
,definitions ,for purposes of this      
section-- 7#a7 the term covered         
individual means-- 7,a7 the ,president2 
7,b7 a ,member of ,congress 7as that    
term is defined in section #bajf of     
title #e1 ,united ,states ,code72  7,c7 
any cabinet-level position within the   
executive branch of ,government1        
including the head of any executive     
department 7as that term is defined in  
section #aja of title #e1 ,united       
,states ,code72 and  7,d7 the spouse1   
son1 daughter1 son-in-law1 or           
daughter-in-law of any individual       
described in subparagraph 7,a71 7,b71 or
 7,c72  7#b7 the term foreign business  
means a partnership1 association1       
corporation1 organization1 or other     
combination of persons organized under  

the laws of or having its principal     
place of business in a foreign country2 
and  7#c7 the term foreign financial    
interest means any financial interest in
 a foreign business1 including a stock1 
ownership interest1 bond1 or debt4  4   
7b7 ,regulations ,not later than #abj   
days after the date of enactment of this
 ,act-- 7#a7 with respect to covered    
individuals 7as that term is described  
in subsection 7d77#a7 of section #fja of
 the ,ethics in ,government ,act of     
#aigh1 as added in subsection 7a77 in   
the executive branch 7including the     
,vice ,president71 the ,director of the 
,office of ,government ,ethics shall    
promulgate regulations to carry out such
 section #fja2 and  7#b7 with respect to
 covered individuals in the legislative 
branch1 the ,committee on ,ethics of the
 ,house of ,representatives and the     
,select ,committee on ,ethics of the    
,senate shall promulgate regulations to 
carry out such section #fja4