,i #aah? ,,congress #a/ ,session ,h4 ,r4 #cjjc ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,april #bh1 #bjbc,mr4 ,fitzpatrick 7= himself1 ,ms4 ,ocasio-,cortez1 ,mr4 ,gaetz1 & ,mr4 ,kri%namoor?i7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,h\se ,adm9i/ration1 & 9 addition to ! ,committee on ,ways & ,means1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to am5d title #e1 ,unit$ ,/ates ,code1 to re/rict trad+ & own]%ip ( c]ta9 f9ancial in/rum5ts by ,memb]s ( ,congress & _! sp\ses & dep5d5ts1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,bip>tisan ,re/or+ ,fai? 9 ,gov]nm5t ,act4 #b4 ,prohibition ( congressional own]%ip ( f9ancial inve/m5ts 7a7 ,9 g5]al ,*apt] #aca ( title #e1 ,unit$ ,/ates ,code1 is am5d$ by add+ at ! end ! foll[+3 ,,iv ,prohibition on ,congressional ,own]%ip ( ,f9ancial ,inve/m5ts #acaea4 ,def9itions ,9 ?is sub*apt]3 7#a7 ,cov]$ f9ancial in/rum5t ,! t]m cov]$ f9ancial in/rum5t means-- 7,a7 any inve/m5t 9-- 7i7 a security 7z def9$ 9 section #c7;a7 ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;c7a7772 7ii7 a security future 7z def9$ 9 section #c7;a7 ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;c7a7772 or 7iii7 a commodity 7z def9$ 9 section #a;a ( ! ,commodity ,ex*ange ,act 7#g ,u4,s4,c4 #a;a772 & 7,b7 any economic int]e/ comp>able to an int]e/ describ$ 9 subclause 7,i7 t is acquir$ ?r\gh syn!tic means1 su* z ! use ( a d]ivative1 includ+ an option1 w>rant1 or o!r simil> means4 7#b7 ,cov]$ individual ,! t]m cov]$ individual means any ( ! foll[+3 7,a7 ,a ,memb] ( ,congress4 7,b7 ,! sp\se ( a ,memb] ( ,congress4 7,c7 ,! dep5d5t ( a ,memb] ( ,congress4 7#c7 ,dep5d5t ,! t]m dep5d5t has ! mean+ giv5 t t]m 9 section #acaja4 7#d7 ,memb] ( ,congress ,! t]m ,memb] ( ,congress has ! mean+ giv5 t t]m 9 section #acaja4 7#e7 ,qualifi$ bl9d tru/ ,! t]m qualifi$ bl9d tru/ has ! mean+ giv5 t t]m 9 section #acajd7;f77#c74 7#f7 ,sup]vis+ e?ics (fice ,! t]m sup]vis+ e?ics (fice has ! mean+ giv5 t t]m 9 section #acaja4 #acaeb4 ,limitation on own+ or trad+ c]ta9 assets 7a7 ,requirem5t 7#a7 ,9 g5]al ,except z provid$ 9 ?is section1 no cov]$ individual may own or trade a cov]$ f9ancial in/rum5t4 7#b7 ,exceptions ,no?+ 9 ?is sub*apt] %all be con/ru$ to prev5t a cov]$ individual f own+ or trad+-- 7,a7 a widely held inve/m5t fund 7z t t]m is describ$ 9 section #acajd7;f77#h77 t is regi/]$ z a managem5t company "u ! ,inve/m5t ,company ,act1 z am5d$ 7#ae ,u4,s4,c4 #hj;a-#a et seq472 7,b7 a ,unit$ ,/ates ,treasury bill1 note1 or bond2 7,c7 any bond issu$ by a ,/ate or local gov]nm5t2 or 7,d7 any inve/m5t "u ! ,?rift ,sav+s ,plan4 7b7 ,compliance 7#a7 ,9 g5]al ,to comply ) ! requirem5t "u subsection 7a71 a cov]$ individual %all dive/ ( a cov]$ f9ancial in/rum5t ?r\gh sale or placem5t 9 a qualifi$ bl9d tru/ 9 accordance ) subsection 7c74 7#b7 ,assets acquir$ ?r\gh special circum/ances ,9 ! ev5t t a cov]$ individual acquires a cov]$ f9ancial in/rum5t aft] ! date ( enactm5t ( ! ,bip>tisan ,re/or+ ,fai? 9 ,gov]nm5t ,act o!r ?an by pur*ase1 ! cov]$ individual %all h #ij days f ! date on :i* su* individual receiv$ su* in/rum5t to dive/ ( su* in/rum5t ?r\gh any means provid$ "u p>agraph 7#a74 7c7 ,"t p]iod = compliance 7#a7 ,cov]$ individuals z ( date ( enactm5t 7,a7 ,9 g5]al ,an individual :o is a cov]$ individual z ( ! date ( enactm5t ( ,bip>tisan ,re/or+ ,fai? 9 ,gov]nm5t ,act %all h #ij days foll[+ ! date ( enactm5t ( su* ,act to dive/ ( su* in/rum5t ?r\gh any means provid$ "u subsection 7b77#a74 7,b7 ,special rule = sp\ses ,a cov]$ individual :o is a sp\se ( a ,memb] ( ,congress & :o receives any f9ancial in/rum5t z comp5sation = _! prim>y employm5t %all dive/ ( su* f9ancial in/rum5t n lat] ?an #ij days aft] ! date t ! sp\se is contractually p]mitt$ to sell ! cov]$ inve/m5t4 7#b7 ,cov]$ individuals aft] date ( enactm5t ,an individual :o becomes a cov]$ individual aft] ! date ( enactm5t ( ! ,bip>tisan ,re/or+ ,fai? 9 ,gov]nm5t ,act %all h #ij days f ! date on :i* su* individual becomes a cov]$ individual to dive/ ( su* in/rum5t ?r\gh any means provid$ "u subsection 7b77#a74 7#c7 ,qualifi$ bl9d tru/ requirem5ts ,not)/&+ p>agraphs 7#a7 & 7#b71 a qualifi$ bl9d tru/ may n be e/abli%$ = purposes ( comply+ ) ?is sub*apt] )\t ! prior approval ( ! sup]vis+ e?ics (fice4 ,) respect to any su* tru/ s approv$1 ! applicable tru/ee-- 7,a7 %all dive/ ( any su* in/rum5t plac$ 9 ! tru/ n lat] ?an #f mon?s aft] ! tru/ is e/abli%$2 7,b7 %all c]tify to ! applicable sup]vis+ e?ics (fice on an annual basis t ! tru/ee has n provid$ any in=mation on ! tru/'s assets or transactions to ! applicable cov]$ individual2 & 7,c7 may n h a close p]sonal or bus9ess relation%ip ) ! applicable cov]$ individual4 7d7 ,income tax ,a loss f a transaction or hold+ involv+ a cov]$ f9ancial in/rum5t t is conduct$ 9 violation ( ?is section may n be d$uct$ f ! am\nt ( income tax ow$ by ! cov]$ individual4 7e7 ,assets ^u sep>ation ,9 ! case ( a sp\se or dep5d5t :o ceases to be a cov]$ individual1 su* sp\se or dep5d5t may rega9 control ov] any cov]$ f9ancial in/rum5t t 0 plac$ into a qualifi$ bl9d tru/ pursuant to subsection 7a74 7f7 ,pro( ( compliance 7#a7 ,submission ,a ,memb] ( ,congress %all submit to ! sup]vis+ e?ics (fice a pl$ge ( compliance ) ! requirem5ts ( ?is sub*apt]1 & %all produce1 ^u reque/ ( ! sup]vis+ e?ics (fice1 mat]ial or in=mation det]m9$ by ! sup]vis+ e?ics committee to be necess>y to indicate compliance ) ! provisions ( ?is sub*apt]4 7#b7 ,c]tificate ,! sup]vis+ e?ics (fice %all provide ea* ,memb] ( ,congress 9 compliance ) ! provisions ( ?is ,act ) a c]tificate ( compliance4 7#c7 ,publication ,! sup]vis+ e?ics (fice %all make available1 on a publicly accessible website1 all c]tificates issu$ "u ?is subsection4 #acaec4 ,en=cem5t 7a7 ,ref]ral ,! sup]vis+ e?ics (fice %all ref] to ! ,attorney ,g5]al ! "n ( any cov]$ individual :o su* (fice has reasonable cause to believe has willfully fail$ to comply ) ! requirem5ts ( section #acaeb4 7b7 ,p5alty 7#a7 ,9 g5]al ,! ,attorney ,g5]al may br+ a civil action 9 any appropriate ,unit$ ,/ates di/rict c\rt aga9/ any cov]$ individual :o kn[+ly & willfully fails to comply ) section #acaeb4 ,! c\rt 9 :i* su* action is br\ght may assess aga9/ su* individual a civil p5alty 9 any am\nt1 n to exce$ #ej1jjj4 7#b7 ,limitation ,a cov]$ individual may n pay any p5alty result+ f a civil action "u p>agraph 7#a7 us+-- 7,a7 funds f a ,memb]s' ,repres5tational ,all[ance or ,s5ators' ,(ficial ,p]sonnel & ,(fice ,exp5se ,acc\nt 7z ! case may be72 or 7,b7 funds ( any political committee "u ! ,f$]al ,election ,campaign ,act ( #aiga 7#eb ,u4,s4,c4 #cjaja et seq474 4 7b7 ,application ( tax rules = sales ( prop]ty ,to comply ) conflict-(-,int]e/ requirem5ts ,section #ajdc ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subsection3 7d7 ,application to prohibition on ,congressional own]%ip ( c]ta9 assets 7#a7 ,treatm5t z conflict ( int]e/ /atute ,= purposes ( subsection 7b77#b77;,a71 sub*apt] ,,iv ( *apt] #aca ( title #e1 ,unit$ ,/ates ,code1 %all be treat$ z a ,f$]al conflict ( int]e/ /atute4 7#b7 ,cov]$ individuals treat$ z eligible p]sons ,= purposes ( ?is section-- 7,a7 ! t]m eligible p]son %all include cov]$ individuals 7z def9$ 9 section #acaea ( title #e1 ,unit$ ,/ates ,code71 & 7,b7 su* cov]$ individuals %all be treat$ z ref]r$ to 9 subsection 7b77#a77;,a7 = purposes ( apply+ subsection 7b77#e77;,a74 7#c7 ,c]tificates ( dive/iture issu$ by e?ics committee ,9 ! case ( any cov]$ individual ref]r$ to 9 p>agraph 7#b77;,a71 a c]tificate ( dive/iture meets ! requirem5t ( subsection 7b77#b77;,b7 if su* c]tificate is issu$ by ! applicable ,congressional e?ics committee4 4 7c7 ,cl]ical am5dm5t ,! table ( sections = su* *apt] is am5d$ by ins]t+ aft] ! item relat+ to section #acadf ! foll[+3 ,,sub*apt] ,,iv--,,prohibition ,,on ,,congressional ,,own]%ip ,,( ,,f9ancial ,,inve/m5ts#acaea4 ,def9itions4#acaeb4 ,limitation on own+ or trad+ c]ta9 assets4#acaec4 ,en=cem5t4 4