,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #djcf  ,,in ,,the ,,house ,,of  
,,representatives  ,june #ag1 #bjbe,mr4 
,kean 7for himself and ,ms4 ,craig7     
introduced the following bill2 which was
 referred to the ,committee on ,house   
,administration  ,a ,,bill  ,to amend   
title #e1 ,united ,states ,code1 to     
prohibit the short sale of certain      
financial investments by ,members of    
,congress and their spouses and         
dependents1 and for other purposes4  #a4
 ,short title  ,this ,act may be cited  
as the ,no ,shorting ,america ,act4  #b4
 ,prohibition of congressional short    
selling of financial investments        
,chapter #aca of title #e1 ,united      
,states ,code1 is amended by adding at  
the end the following 7and by conforming
 the table of contents for such chapter 
accordingly73  ,,iv ,prohibition on     
,congressional ,short ,selling  #acaea4 
,definitions ,in this subchapter3  7#a7 
,covered financial instrument ,the term 
covered financial instrument means--    

7,a7 any investment in--  7i7 a security
 7as defined in section #c7;a7 of the   
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;c7a7772  7ii7 a security 
future 7as defined in section #c7;a7 of 
the ,securities ,exchange ,act of #aicd 
7#ae ,u4,s4,c4 #gh;c7a7772 or  7iii7 a  
commodity 7as defined in section #a;a of
 the ,commodity ,exchange ,act 7#g      
,u4,s4,c4 #a;a772 and  7,b7 any economic
 interest comparable to an interest     
described in subclause 7,i7 that is     
acquired through synthetic means1 such  
as the use of a derivative1 including an
 option1 warrant1 or other similar      
means4  7#b7 ,covered individual ,the   
term covered individual means any of the
 following3 7,a7 ,a ,member of          
,congress4  7,b7 ,the spouse of a       
,member of ,congress4  7,c7 ,the        
dependent of a ,member of ,congress4    
7#c7 ,dependent ,the term dependent has 
the meaning given that term in section  
#acaja4  7#d7 ,member of ,congress ,the 
term ,member of ,congress has the       

meaning given that term in section      
#acaja4  7#e7 ,short sale ,the term     
short sale has the meaning given that   
term in section #bdb4bjj of title #ag1  
,code of ,federal ,regulations 7or any  
successor regulation74  7#f7            
,supervising ethics office ,the term    
supervising ethics office has the       
meaning given that term in section      
#acaja4  #acaeb4 ,limitation on short   
sale  7a7 ,in general ,no covered       
individual may engage in a short sale of
 any covered financial instrument issued
 by any business entity that is listed  
on a national stock exchange4  7b7      
,income tax ,a loss from a short sale   
involving a covered financial instrument
 that is conducted in violation of this 
section may not be deducted from the    
amount of income tax owed by the covered
 individual4  7c7 ,proof of compliance  
7#a7 ,submission ,a ,member of ,congress
 shall submit to the supervising ethics 
office a pledge of compliance with the  
requirements of this subchapter1 and    

shall produce1 upon request of the      
supervising ethics office1 material or  
information determined by the           
supervising ethics committee to be      
necessary to indicate compliance with   
the provisions of this subchapter4  7#b7
 ,certificate ,the supervising ethics   
office shall provide each ,member of    
,congress in compliance with the        
provisions of this chapter with a       
certificate of compliance4  7#c7        
,publication ,the supervising ethics    
office shall make available1 on a       
publicly accessible website1 all        
certificates issued under this          
subsection4  #acaec4 ,enforcement  7a7  
,referral ,the supervising ethics office
 shall refer to the ,attorney ,general  
the name of any covered individual who  
such office has reasonable cause to     
believe has willfully failed to comply  
with the requirements of section #acaeb4
  7b7 ,penalty  7#a7 ,in general ,the   
,attorney ,general may bring a civil    
action in any appropriate ,united       

,states district court against any      
covered individual who knowingly and    
willfully fails to comply with section  
#acaeb4 ,the court in which such action 
is brought may assess against such      
individual a civil penalty in any       
amount1 not to exceed #ej1jjj4  7#b7    
,limitation ,a covered individual may   
not pay any penalty resulting from a    
civil action under paragraph 7#a7       
using--  7,a7 funds from a ,members'    
,representational ,allowance or         
,senators' ,official ,personnel and     
,office ,expense ,account 7as the case  
may be72 or  7,b7 funds of any political
 committee under the ,federal ,election 
,campaign ,act of #aiga 7#eb ,u4,s4,c4  
#cjaja et seq474  4