,i #aahth ,,congress #b;d ,session ,h4 ,r4 #gbfd ,,in ,,the ,,house ,,of ,,representatives ,february #f1 #bjbd,ms4 ,tlaib 7for herself and ,ms4 ,bush7 introduced the following bill2 which was referred to the ,committee on ,financial ,services1 and in addition to the ,committees on ,house ,administration1 ,agriculture1 and ,ways and ,means1 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 prohibit certain defense industry stock trading and ownership by ,members of ,congress and spouses of ,members of ,congress1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,stop ,politicians ,profiting from ,war ,act of #bjbd4 #b4 ,ban on certain defense industry stock trading and ownership by ,members of ,congress1 spouses1 and dependent children 7a7 ,definitions ,in this ,act3 7#a7 ,commodity ,the term commodity has the meaning given that term in section #a;a of the ,commodity ,exchange ,act 7#g ,u4,s4,c4 #a;a74 7#b7 ,covered defense contractor ,the term covered defense contractor means a person1 other than an institution of higher education 7as defined under section #aja of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajja77 or a non-profit medical treatment facility1 that has entered into a contract1 transaction1 or other agreement with the ,department of ,defense4 7#c7 ,diversified ,the term diversified1 with respect to a fund1 trust1 or plan1 means that the fund1 trust1 or plan does not have a stated policy of concentrating its investments in any industry1 business1 single country other than the ,united ,states1 or bonds of a single ,state4 7#d7 ,member of ,congress ,the term ,member of ,congress has the meaning given that term in section #acaja of title #e1 ,united ,states ,code4 7#e7 ,security ,the term security has the meaning given that term in section #c7;a7 of ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;c7a774 7#f7 ,widely held investment fund ,the term widely held investment fund means a widely held investment fund described in #acajd7;f77#h7 of title #e1 ,united ,states ,code4 7b7 ,divestment of assets 7#a7 ,in general ,except as provided in subsection 7c71 no ,member of ,congress1 spouse of a ,member of ,congress1 or dependent child of a ,member of ,congress may have a financial interest in a covered defense contractor1 or may own an interest in or trade 7except as a divestment7 any stock1 bond1 commodity1 future1 or other form of security the value of which is significantly based upon a covered defense contractor or an entity in the defense industrial base1 including an interest in a hedge fund1 a derivative1 option1 or other complex investment vehicle4 7#b7 ,implementation 7,a7 ,current members 7i7 ,in general ,except as provided in clause 7ii71 an individual who is a ,member of ,congress on the date of the enactment of this ,act1 or the spouse or dependent child of such an individual1 shall complete the divestment of any asset described in paragraph 7#a7 by not later than #abj days after the date of enactment of this ,act4 7ii7 ,certain assets ,for an asset described in paragraph 7#a7 that is an interest in a hedge fund1 venture capital fund1 or other privately held complex investment vehicle1 an individual who is a ,member of ,congress on the date of enactment of this ,act1 or the spouse or dependent child of such an individual1 shall complete the divestment of the asset by not later than #ahj days after the date of enactment of this ,act4 7iii7 ,application ,this subparagraph shall apply to a covered defense contractor that is performing or has performed a contract for the ,department of ,defense during the #e-year period preceding the date of the enactment of this ,act4 7,b7 ,new members 7i7 ,in general ,except as provided in clause 7ii71 an individual who becomes a ,member of ,congress after the date of enactment of this ,act1 or who is the spouse of such an individual1 shall complete the divestment of any asset described in paragraph 7#a7 by not later than #abj days after the date on which the individual becomes a ,member of ,congress4 7ii7 ,certain assets ,for an asset described in paragraph 7#a7 that is an interest in a hedge fund1 venture capital fund1 or other privately held complex investment vehicle1 an individual who becomes a ,member of ,congress after the date of enactment of this ,act1 or who is the spouse or dependent child of such an individual1 shall complete the divestment of the asset by not later than #ahj days after the date on which the individual becomes a ,member of ,congress4 7iii7 ,application ,this subparagraph shall apply to a covered defense contractor that is performing or has performed a contract for the ,department of ,defense during the #e-year period preceding the date on which the individual becomes a ,member of ,congress4 7,c7 ,divestment of assets received while a member ,an individual serving as a ,member of ,congress1 or the spouse or dependent child of such an individual1 who receives any asset described in paragraph 7#a7 during the period of such service1 such as from an inheritance1 shall complete the divestment of the asset by not later than #abj days after the date on which the individual or spouse receives the asset4 7,d7 ,qualified blind trust prohibited ,placing an asset described in paragraph 7#a7 in a qualified blind trust 7as that term is defined in section #acajd7;f77#c7 of title #e1 ,united ,states ,code71 or any other blind trust1 shall not qualify as a divestment under such paragraph for purposes of compliance with the requirements of this ,act4 7c7 ,exceptions ,nothing in this section shall be construed to prevent-- 7#a7 a ,member of ,congress or their spouse or dependent child from owning or trading-- 7,a7 a widely held investment fund1 if the widely held investment fund-- 7i7 does not present a conflict of interest2 7ii7 is diversified2 and 7iii7 in the literature it distributes to prospective and current investors or participants1 does not indicate the objective or practice of concentrating its investments in covered defense contractors or entities in the defense industrial base1 if the ,member of ,congress1 or the spouse or dependent child of such an individual1 neither exercises control nor has the ability to exercise control over the financial interests held in the fund2 7,b7 shares of ,settlement ,common ,stock issued under section #g7;g77#a77;,a7 of the ,alaska ,native ,claims ,settlement ,act 7#dc ,u4,s4,c4 #afjf7;g77#a77;,a772 7,c7 shares of ,settlement ,common ,stock1 as defined in section #c of the ,alaska ,native ,claims ,settlement ,act 7#dc ,u4,s4,c4 #afjb72 7,d7 a ,united ,states ,treasury bill1 note1 or bond2 7,e7 an investment fund held in a ,federal1 ,state1 or local government employee retirement plan2 or 7,f7 an interest in an investment fund registered as an investment company under section #c of the ,investment ,company ,act of #aidj 7#ae ,u4,s4,c4 #hj;a-#c7 that is diversified2 and 7#b7 a spouse or dependent child of a ,member of ,congress from trading any asset described in subsection 7b77#a7 that is not owned by the spouse1 child1 or ,member of ,congress in the course of performing the primary occupation of the spouse or child4 7d7 ,civil fines ,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 their spouse or dependent child who engages in conduct constituting a violation of this section and1 upon proof of such conduct by a preponderance of the evidence1 such ,member of ,congress1 spouse1 or child 7as the case may be7 shall be subject to a civil penalty of not more than #ej1jjj for each violation4 ,the imposition of a civil penalty under this subsection does not preclude any other criminal or civil statutory1 common law1 or administrative remedy1 which is available by law to the ,united ,states or any other person4 7e7 ,nonrecognition of gain 7#a7 ,in general ,paragraph 7#a7 of section #ajdc7;b7 of the ,internal ,revenue ,code of #aihf is amended-- 7,a7 by striking and at the end of subparagraph 7,a72 7,b7 by redesignating subparagraph 7,b7 as subparagraph 7,c72 7,c7 by inserting after subparagraph 7,a7 the following new subparagraph3 7,b7 any ,member of ,congress or ,member of ,congress-elect1 but only with respect to a divestment of property required by the ,stop ,politicians ,profiting from ,war ,act of #bjbd1 and 2 and 7,d7 by striking subparagraph 7,a7 in subparagraph 7,c71 as so redesignated1 and inserting subparagraph 7,a7 or 7,b71 whichever is applicable4 7#b7 ,certificate of divestiture ,subparagraph 7,b7 of section #ajdc7;b77#b7 of such ,code is amended-- 7,a7 by striking or by and inserting by2 and 7,b7 by inserting 1 or by the applicable congressional ethics committee 7as that term is defined in section #acaja of title #e71 in the case of ,members of ,congress1 ,members of ,congress-elect1 and spouses of ,members of ,congress and ,members of ,congress-elect after judicial officers4 7#c7 ,effective date ,the amendments made by this subsection shall apply to sales of property after the date of the enactment of this ,act4 7f7 ,interpretive guidance ,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 ,act4