,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #aijh  ,,in ,,the ,,house ,,of  
,,representatives  ,march #f1 #bjbe,mr4 
,burchett introduced the following bill2
 which was referred to the ,committee on
 ,financial ,services1 and in addition  
to the ,committees on ,agriculture1     
,house ,administration1 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 stock trading and ownership by 
,members of ,congress and their spouses 
and dependent children1 and for other   
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,end ,congressional 
,stock ,trading ,act4  #b4 ,bar on stock
 trading and ownership by ,members of   
,congress and their spouses and         
dependent children  7a7 ,definitions ,in
 this section3 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 ,dependent child ,the term         
dependent child has the meaning given   
that term in section #acaja of title #e1
 ,united ,states ,code4  7#c7           
,diversified ,the term diversified1 with
 respect to an investment fund1 means   
that the investment fund does not have a
 stated policy of overly concentrating  
its investments4  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 ,small business concern
 ,the term small business concern has   
the meaning given that term under       
section #c of the ,small ,business ,act 
7#ae ,u4,s4,c4 #fcb74  7#g7 ,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  7#a7   
,in general ,a ,member of ,congress or a
 spouse or dependent child of a ,member 
of ,congress may not own an interest in 
or trade 7except as a divestment7 any   
stock1 bond1 commodity1 future1 or other
 form of security1 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 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    
7#a7 by not later than #ahj 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
 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 #e years after the date of        
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 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 7#a7 by not later than #ij    
days after the date on which the        
individual becomes a ,member of         
,congress or a spouse or dependent child
 of 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 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 #e years
 after the date on which the individual 
becomes a ,member of ,congress or a     
spouse or dependent child of a ,member  
of ,congress4  7,c7 ,divestment of      
assets received while a ,member ,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 7#a7 during the  
period of such service1 such as from an 
inheritance1 shall complete the         
divestment of the asset by not later    
than #ahj days after the date on which  
the individual receives the asset4  7c7 
,exceptions ,nothing in this section    
shall be construed to prevent-- 7#a7 a  
,member of ,congress or a spouse or     
dependent child of a ,member of         
,congress 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 and 
7ii7 is diversified2  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  7,f7 an      
interest in a small business concern1 if
 the small business concern does not    
present a conflict of interest2 or  7,g7
 any asset described in subsection      
7b77#a7 received as compensation from   
the primary occupation of the spouse2 or
  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 spouse or      

,member of ,congress in the course of   
performing the primary occupation of the
 spouse4  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 spouse or dependent child of a       
,member of ,congress 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 ,congress or spouse or  
dependent child of such ,member of      
,congress shall be subject to a civil   
penalty of not more than #ajj1jjj 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 any    
spouse or dependent child of a ,member  
of ,congress1 but only with respect to a
 divestment of property required by the 
,end ,congressional ,stock ,trading ,act
 and only if1 not later than #fj days   
after the divestment of such property1  
the individual uses the proceeds of the 
divestment to obtain property which the 
individual is authorized to own or trade
 under section #b7;c77#a7 of such ,act1 
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 committee1 as defined in section 
#acaja of title #e1 ,united ,states     
,code1 in the case of ,members of       
,congress and spouses and dependent     
children of ,members of ,congress1 after
 judicial officers4  7#c7 ,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 ,act1 as    
described in section #ajdc7;b77#a77;,b7 
of the ,internal ,revenue ,code of #aihf
 7as added by this subsection74  7#d7   
,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 ,act or      
elsewhere in statute4