,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #dhij  ,,in ,,the ,,house ,,of  
,,representatives  ,august #e1 #bjbe,mr4
 ,krishnamoorthi 7for himself1 ,mr4     
,cloud1 ,ms4 ,ocasio-,cortez1 ,mr4      
,neguse1 ,mr4 ,riley of ,new ,york1 and 
,mrs4 ,kiggans of ,virginia7 introduced 
the following bill2 which was referred  
to the ,committee on ,house             
,administration1 and in addition to the 
,committees on ,oversight and           
,government ,reform1 and the ,judiciary1
 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 chapter #aca of title #e1 ,united 
,states ,code1 to prevent ,members of   
,congress and their spouses and         
dependent children from trading stocks  
and owning stocks1 and for other        
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,ending ,trading and
 ,holdings in ,congressional ,stocks    

7,,ethics7 ,act4  #b4 ,placement of     
certain assets of ,members of ,congress 
and their spouses and dependent children
 in qualified blind trusts  7a7 ,in     
general ,chapter #aca of title #e1      
,united ,states ,code1 is amended by    
adding at the end the following3  ,,iv  
,certain assets of ,members of ,congress
 and their spouses and dependent        
children  #acafa4 ,definitions ,in this 
title3 7#a7 ,commodity ,the term        
commodity has the meaning given the term
 in section #a;a of the ,commodity      
,exchange ,act 7#g ,u4,s4,c4 #a;a74     
7#b7 ,covered investment  7,a7 ,in      
general ,the term covered investment    
means-- 7i7 an investment in--  7,i7 a  
security2  7,,ii7 a commodity2 or       
7,,iii7 a future2  7ii7 any economic    
interest comparable to an interest      
described in clause 7i7 that is acquired
 through synthetic means1 such as the   
use of a derivative1 including an       
option1 warrant1 or other1 similar      
means2 or  7iii7 any interest described 

in clause 7i7 or 7ii7 that is held      
directly1 or in which an individual has 
an indirect1 beneficial1 or economic    
interest1 through-- 7,i7 an investment  
fund or holding company2  7,,ii7 a trust
 7other than a qualified blind trust72  
7,,iii7 an employee benefit plan2 or    
7,,iv7 a deferred compensation plan1    
including a carried interest or other   
agreement tied to the performance of an 
investment1 other than a fixed cash     
payment4  7,b7 ,exclusions ,the term    
covered investment does not include--   
7i7 a diversified mutual fund 7including
 any holdings of such a fund72  7ii7 a  
diversified exchange-traded fund        
7including any holdings of such a fund72
  7iii7 a ,united ,states ,treasury     
bill1 note1 or bond2  7iv7 compensation 
from the primary occupation of the      
spouse of a ,member of ,congress1 or any
 security that is issued or paid by an  
operating business that is the primary  
employer of such a spouse that is issued
 or paid to such a spouse2  7v7 holding 

and acquiring any security that is      
issued or paid as compensation from     
corporate board service by the spouse of
 a ,member of ,congress1 including the  
dividend reinvestment in the same       
security received from the corporate    
board service by the spouse of a ,member
 of ,congress2  7vi7 any covered        
investment that is traded by the spouse 
of a ,member of ,congress in the course 
of performing the primary occupation of 
such a spouse1 provided the investment  
is not owned by a covered person2  7vii7
 any investment fund held in a ,federal1
 ,state1 or local government employee   
retirement plan2  7viii7 a tax-free     
,state or municipal bond2  7ix7 an      
interest in a small business concern1 if
 the supervising ethics office          
determines that the small business      
concern does not present a conflict of  
interest1 and1 in the case of an        
investment in a family farm or ranch    
that qualifies as an interest in a small
 business concern1 a future or commodity

 directly related to the farming        
activities and products of the farm or  
ranch2  7x7 holding investment-grade    
corporate bonds1 provided that the      
corporate bonds are held by an          
individual who is a covered person on   
the date of enactment of the ,ending    
,trading and ,holdings in ,congressional
 ,stocks 7,,ethics7 ,act2  7xi7 any     
share 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
 or  7xii7 any share of ,settlement     
,common ,stock1 as defined in section #c
 of the ,alaska ,native ,claims         
,settlement ,act 7#dc ,u4,s4,c4 #afjb74 
7#c7 ,covered person ,the term covered  
person means-- 7,a7 a ,member of        
,congress2 and  7,b7 a spouse or        
dependent child of a ,member of         
,congress4  7#d7 ,custody ,the term     
custody has the meaning given the term  
in section #bge4bjf7d7-b7;d7 of title   
#ag1 ,code of ,federal ,regulations 7as 

in effect on the date of enactment of   
the ,ending ,trading and ,holdings in   
,congressional ,stocks 7,,ethics7 ,act  
or a successor regulation74  7#e7       
,dependent child ,the term dependent    
child means1 with respect to any ,member
 of ,congress any individual who is--   
7,a7 under the age of #ai2 and  7,b7 a  
dependent of the ,member of ,congress   
within the meaning of section #aeb of   
the ,internal ,revenue ,code of #aihf4  
7#f7 ,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 or single country   
other than the ,united ,states4  7#g7   
,future ,the term future means-- 7,a7 a 
security future 7as defined in section  
#c7;a7 of the ,securities ,exchange ,act
 of #aicd 7#ae ,u4,s4,c4 #gh;c7a7772 and
  7,b7 any other contract for the sale  
of a commodity for future delivery4     
7#h7 ,illiquid investment ,the term     

illiquid investment means an interest in
 a private fund1 as defined in section  
#bjb7;a77#bi7 of the ,investment        
,advisers ,act of #aidj 7#ae ,u4,s4,c4  
#hj;b-#b74  7#i7 ,initial property ,the 
term initial property means an asset or 
financial interest transferred to a     
qualified blind trust by1 or on behalf  
of1 an interested party or a relative of
 an interested party1 regardless of     
whether the asset or financial interest 
is transferred to the qualified blind   
trust on or after the date of           
establishment of the qualified blind    
trust4  7#aj7 ,interested party ,the    
term interested party has the meaning   
given the term in section               
#ajb7;f77#c77;,e74  7#aa7 ,member of    
,congress2 supervising ethics office    
,the terms ,member of ,congress and     
supervising ethics office have the      
meaning given those terms in section    
#acaja4  7#ab7 ,qualified blind trust   
,the term qualified blind trust means a 
qualified blind trust 7as defined in    

section #acajd7;f77#c77 that has been   
approved in writing by the applicable   
supervising ethics office under section 
#acajd7;f77#c77;,d74  7#ac7 ,security   
,the term security has the meaning given
 the term in section #c7;a7 of the      
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;c7a774  7#ad7 ,small     
business concern ,the term small        
business concern has the meaning given  
the term under section #c of the ,small 
,business ,act 7#ae ,u4,s4,c4 #fcb74    
#acafb4 ,trading covered investments    
7a7 ,ban on trading ,except as provided 
in subsections 7b7 and 7c7-- 7#a7       
effective on the date of enactment of   
the ,ending ,trading and ,holdings in   
,congressional ,stocks 7,,ethics7 ,act1 
a ,member of ,congress shall not        
purchase any covered investment2  7#b7  
effective on the date that is #ij days  
after the date of enactment of the      
,ending ,trading and ,holdings in       
,congressional ,stocks 7,,ethics7 ,act1 
a ,member shall of ,congress not sell   

any covered investment1 except as       
provided in section #bjc7;a77#b72 and   
7#c7 on and after the effective date    
described in section #bjc7k71 a covered 
person that is a spouse or dependent    
child of a ,member of ,congress shall   
not purchase any covered investment or  
sell any covered investment1 except as  
provided in section #bjc7;a77#b74  7b7  
,optional divestment window             
,notwithstanding subsection 7a7-- 7#a7 a
 ,member of ,congress who is sworn as a 
,member of ,congress on or before the   
date of enactment of the ,ending        
,trading and ,holdings in ,congressional
 ,stocks 7,,ethics7 ,act may sell a     
covered investment within #ij days of   
the date of enactment of such ,act1     
provided that the ,member of ,congress  
may not sell any covered investment at  
any time outside of that period while   
the ,member of ,congress serves the term
 for which the ,member of ,congress was 
elected or is reelected or appointed as 
a ,member of ,congress except as        

provided in section #bjc7;a77#b72 and   
7#b7 a ,member of ,congress who is sworn
 as a ,member of ,congress after the    
date of enactment of the ,ending        
,trading and ,holdings in ,congressional
 ,stocks 7,,ethics7 ,act may sell a     
covered investment within #ij days of   
commencing the term of service as a     
,member of ,congress1 provided that the 
,member of ,congress may not sell any   
covered investment at any time outside  
of that period while the ,member of     
,congress serves the term for which the 
,member of ,congress was elected or is  
reelected or appointed as a ,member of  
,congress except as provided in section 
#bjc7;a77#b74  7c7 ,exception           
,notwithstanding subsection 7a71 a      
covered person may divest a covered     
investment as directed by the relevant  
supervising ethics office pursuant to   
this ,act4  7d7 ,joint covered          
investment ,any covered investment      
reported to the supervising ethics      
office as jointly owned by a ,member of 

,congress and the spouse of the ,member 
of ,congress shall be deemed to be a    
covered investment of the ,member of    
,congress for purposes of this section4 
#acafc4 ,addressing owned covered       
investments  7a7 ,members of ,congress  
7#a7 ,certification ,not later than #fj 
days after the applicable effective date
 described in subsection 7j71 a ,member 
of ,congress shall submit to the        
supervising ethics office a             
certification1 which the supervising    
ethics office shall publish online that 
certifies that--  7,a7 each covered     
investment owned by1 or in the custody  
of1 the ,member of ,congress1 or a      
spouse or dependent child of the ,member
 of ,congress1 will1 by the applicable  
deadline under paragraph 7#b71 be-- 7i7 
divested1 as described in paragraph     
7#b77;,b72 or  7ii7 placed in a         
qualified blind trust1 including through
 the establishment of a qualified blind 
trust for that purpose1 if necessary1 as
 described in paragraph 7#b77;,a72 and  

7,b7 no spouse or dependent child of the
 ,member of ,congress owns1 or has      
custody of1 covered investments with a  
cumulative amount equal to more than    
#aj1jjj1 in accordance with paragraph   
7#f74  7#b7 ,divestiture or placement in
 qualified blind trust  7,a7            
,requirement ,subject to paragraphs 7#c7
 and 7#f7 and subsection 7b77#b71 not   
later than #abj days after the          
applicable effective date described in  
subsection 7j71 a ,member of ,congress  
shall divest1 or place in a qualified   
blind trust 7including by establishing a
 qualified blind trust for that purpose1
 if necessary71 each covered investment 
owned or in the custody of-- 7i7 the    
,member of ,congress2 or  7ii7 a spouse 
or dependent child of the ,member of    
,congress4  7,b7 ,divestiture ,a covered
 person shall divest any covered        
investment owned by or in the custody of
 the covered person that is not placed  
in a qualified blind trust not later    
than the date described in subparagraph 

7,a71 subject to any extension granted  
under paragraph 7#c74  7,c7 ,qualified  
blind trusts  7i7 ,mandatory sale of    
initial property in qualified blind     
trust  7,i7 ,in general ,subject to     
clause 7ii71 if a covered person places1
 or has placed before the applicable    
effective date described in subsection  
7j71 #a or more covered investments in a
 qualified blind trust1 the trustee of  
the qualified blind trust shall divest  
any such covered investment not later   
than the date specified in subclause    
7,,ii74  7,,ii7 ,deadline ,the date     
specified in this subclause is--  7aa7  
with respect to a covered investment    
placed in a qualified blind trust before
 the applicable effective date described
 in subsection 7j71 #abj days after such
 applicable effective date2 and  7bb7   
with respect to a covered investment    
placed in a qualified blind trust on or 
after the applicable effective date     
described in subsection 7j71 #abj days  
after the date of creation of the       

qualified blind trust1 as dated by the  
executed qualified blind trust          
agreement4  7,,iii7 ,notice of          
compliance  7aa7 ,in general ,subject to
 item 7bb71 upon completion of the      
divestiture of all initial property     
pursuant to subclause 7,i7-- 7,,aa7 the 
trustee of a qualified blind trust shall
 submit to the supervising ethics office
 and each beneficiary of the trust a    
written notice stating that all initial 
property of the qualified blind trust   
has been divested2 and 7,,bb7 the       
supervising ethics office shall publish 
the notice described in subitem 7,,aa7  
on the website of the supervising ethics
 office4  7bb7 ,contents ,each notice   
described in item 7aa77,,aa7-- 7,,aa7   
shall only identify the initial property
 generally by referring to the complete 
list of assets described in section     
#ajb7;f77#e77;,a77ii7 of the ,ethics in 
,government ,act 7#e ,u4,s4,c4 ,app472  
and 7,,bb7 may not contain any other    
information relating to any holding of  

the qualified blind trust or the timing 
of any divestiture4  7ii7 ,extension of 
mandatory sale of initial property  7,i7
 ,request ,a covered person may apply to
 the supervising ethics office for an   
extension of the period described in    
clause 7i77,i7 if the size or complexity
 of the covered investments in the      
qualified blind trust warrant such      
extension4  7,,ii7 ,duration ,an        
extension granted under subclause 7,i7  
shall not exceed #ij days4  7,d7        
,illiquid investments  7i7 ,sale ,not   
later than #ij days after the date on   
which a covered person is contractually 
permitted to sell an illiquid           
investment1 the covered person shall    
divest the illiquid investment4  7ii7   
,prohibition ,a covered person may not  
place an illiquid investment in any     
qualified blind trust under subparagraph
 7,a74  7,e7 ,trustees ,a trustee of a  
qualified blind trust-- 7i7 shall be    
required to be a financial institution1 
as defined in section #a;a of the       

,commodity ,exchange ,act 7#g ,u4,s4,c4 
#a;a72 and  7ii7 except for a financial 
institution1 may not be-- 7,i7 an       
attorney2  7,,ii7 a certified public    
accountant2  7,,iii7 a broker1 as       
defined in section #c7;a7 of the        
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;c7a772 or  7,,iv7 an     
investment advisor4  7#c7 ,extension of 
assets being placed in qualified blind  
trusts ,if a covered person is unable to
 place a covered investment in a        
qualified blind trust by the date       
described in paragraph 7#b77;,a71 the   
applicable ,member of ,congress may     
request1 and the supervising ethics     
office may grant1 #a or more reasonable 
extensions1 subject to the conditions   
that--  7,a7 the total period of time   
covered by all extensions granted for   
the covered investment shall not exceed 
#aej days2 and  7,b7 the period covered 
by a single extension shall be not      
longer than #de days4  7#d7             
,communications regarding existing      

qualified blind trusts  7,a7 ,in general
 ,any direct or indirect communication  
relating to a qualified blind trust in  
existence on the applicable effective   
date described in subsection 7j7 between
 a trustee of the qualified blind trust 
and an interested party shall be        
permissible for purposes of this title  
if the communication-- 7i7 7,i7 is      
made--  7aa7 in writing2 and  7bb7 not  
later than #fj days after that effective
 date2  7,,ii7 is filed with the        
applicable supervising ethics office by 
the person initiating the communication 
not less than #e days before the date of
 the communication2  7,,iii7 relates to 
a direction or request to the trustee-- 
7aa7 to sell all initial property placed
 in the qualified blind trust by any    
interested party2 or  7bb7 to convert   
all of an asset in the qualified blind  
trust into an investment other than a   
covered investment2 and  7ii7 is        
otherwise permitted under section       
#ajb7;f77#c77;,c77vi74  7#e7            

,communications between covered persons 
and trustees relating to all qualified  
blind trusts  7,a7 ,notification ,a     
trustee of a qualified blind trust shall
 not notify a covered person if--  7i7  
the value of the initial property of the
 qualified blind trust is less than     
#a1jjj2 or  7ii7 the trustee divests any
 property of the qualified blind trust1 
other than the initial property required
 to be divested pursuant to paragraph   
7#b74  7,b7 ,communication  7i7 ,in     
general ,any communication between a    
covered person and the trustee of the   
relevant qualified blind trust-- 7,i7   
shall be in writing2 and  7,,ii7        
submitted and approved in advance of the
 communication by the supervising ethics
 office4  7ii7 ,prohibition ,a          
communication described in clause 7i7   
may not include any information relating
 to the manner in which funds of the    
qualified blind trust are invested1     
including any information relating to-- 
7,i7 any company in which the funds are 

invested2 or  7,,ii7 any sector in which
 the funds are invested4  7#f7          
,exception for dependents ,a covered    
person who is a dependent child of a    
,member of ,congress may have a legal   
guardian hold or trade on behalf of the 
dependent child #a or more covered      
investments provided that the value of  
the covered investments in total does   
not exceed #aj1jjj4  7b7 ,acquisitions  
during service  7#a7 ,in general        
,subject to paragraph 7#b71 and any     
applicable rules issued pursuant to     
subsection 7h77#c71 effective beginning 
on the date of enactment of the ,ending 
,trading and ,holdings in ,congressional
 ,stocks 7,,ethics7 ,act1 no covered    
person may acquire any covered          
investment4  7#b7 ,inheritances  7,a7   
,in general ,subject to subparagraph    
7,b71 a covered person who inherits a   
covered investment shall come into      
compliance as required under subsection 
7a7 by not later than #abj days after   
the date on which the covered investment

 is inherited4  7,b7 ,extensions ,if a  
covered person is unable to meet the    
requirements of subparagraph 7,a71 the  
applicable ,member of ,congress may     
request1 and the supervising ethics     
office may grant1 #a or more reasonable 
extensions1 subject to the conditions   
that--  7i7 the total period of time    
covered by all extensions granted for   
the covered investment shall not exceed 
#aej days2 and  7ii7 the period covered 
by a single extension shall be not      
longer than #de days4  7c7 ,family      
trusts  7#a7 ,in general ,a supervising 
ethics office may grant an exemption for
 a family trust only if-- 7,a7 no       
covered person--  7i7 is a grantor of   
the family trust2  7ii7 contributed any 
asset to the family trust2 or  7iii7 has
 any authority over a trustee of the    
family trust1 including the authority to
 appoint1 replace1 or direct the actions
 of such a trustee2 and  7,b7 the       
grantor of the family trust is or was a 
family member of the covered person4    

7#b7 ,requests ,a covered person seeking
 an exemption under paragraph 7#a7 shall
 submit to the applicable supervising   
ethics office a request for the         
exemption1 in writing1 certifying that  
the conditions described in that        
paragraph are met4  7#c7 ,publication ,a
 supervising ethics office shall publish
 on the public website of the           
supervising ethics office--  7,a7 a copy
 of each request submitted under        
paragraph 7#b72 and  7,b7 the written   
response of the supervising ethics      
office to each request described in     
subparagraph 7,a74  7d7 ,mingling of    
assets ,a spouse or dependent child of a
 ,member of ,congress may place a       
covered investment in a qualified blind 
trust established by the ,member of     
,congress under subsection              
7a77#a77;,a77ii74  7e7 ,separation from 
service and cooling-,off period required
 for control ,during the period         
beginning on the date on which an       
individual becomes a ,member of         

,congress and ending on the date that is
 #ij days after the date on which the   
individual ceases to serve as a ,member 
of ,congress1 the ,member of ,congress1 
and any spouse or dependent child of the
 ,member of ,congress1 may not--  7#a7  
dissolve any qualified blind trust in   
which a covered investment has been     
placed pursuant to subsection 7a77#b72  
or  7#b7 except as provided in this     
section1 otherwise control a covered    
investment1 including purchasing new    
covered investments4  7f7 ,reporting    
requirements  7#a7 ,supervising ethics  
offices ,each supervising ethics office 
shall make available on the public      
website of the supervising ethics       
office-- 7,a7 a copy of--  7i7 each     
certification submitted to the          
supervising ethics office under         
subsection 7a77#a72  7ii7 each qualified
 blind trust agreement of each covered  
person2  7iii7 each notice and other    
documentation submitted to the          
supervising ethics office under this    

section2 and  7iv7 each notice1 ruling1 
and other documentation issued or       
received by the supervising ethics      
office under subsection 7c72  7,b7 a    
schedule of all assets placed in a      
qualified blind trust by each covered   
person and interested party2 and  7,c7 a
 description of each extension granted1 
and each civil penalty imposed1 pursuant
 to this section4  7#b7 ,trustees ,each 
trustee of a qualified blind trust      
established by a covered person shall   
submit to the covered person and the    
applicable supervising ethics office a  
written notice in any case in which the 
trustee learns that an interested party 
has obtained knowledge of any trust     
property other than the initial property
 of the qualified blind trust4  7#c7    
,member of ,congress ,each ,member of   
,congress who is a beneficiary of a     
qualified blind trust shall submit to   
the applicable supervising ethics       
office--  7,a7 a copy of the executed   
qualified blind trust agreement by not  

later than #cj days after the date of   
execution2  7,b7 a list of each asset   
and each financial interest transferred 
to the qualified blind trust by an      
interested party by not later than #cj  
days after the date of the transfer2    
7,c7 a copy of each notice submitted to 
the ,member of ,congress under paragraph
 7#b7 by not later than #cj days after  
the date of receipt2  7,d7 a written    
notice that an interested party has     
obtained knowledge of any holding of the
 qualified blind trust by not later than
 the date that is #cj days after the    
date on which the ,member of ,congress  
discovered that the knowledge had been  
obtained2 and  7,e7 a written notice of 
dissolution of the qualified blind trust
 by not later than #cj days after the   
date of dissolution4  7#d7 ,federal     
benefits  7,a7 ,covered payment ,in this
 paragraph1 the term covered payment--  
7i7 means a payment of money or any     
other item of value made1 or promised to
 be made1 by the ,federal ,government2  

7ii7 includes--  7,i7 a loan agreement1 
contract1 or grant made1 or promised to 
be made1 by the ,federal ,government1   
including such an agreement1 contract1  
or grant relating to agricultural       
activity2 and  7,,ii7 such other types  
of payment of money or items of value as
 the supervising ethics office1 may     
establish1 by guidance2 and  7iii7 does 
not include-- 7,i7 any salary or        
compensation for service performed as1  
or reimbursement of personal outlay by1 
an officer or employee of the ,federal  
,government2 or  7,,ii7 any tax refund  
7including a refundable tax credit74    
7,b7 ,reporting requirement ,not later  
than #cj days after the date of receipt 
of a notice of any application for1 or  
receipt of1 a covered payment by a      
covered person 7including any business  
owned and controlled by the covered     
person71 but in no case later than #de  
days after the date on which the covered
 payment is made or promised to be made1
 the covered person shall submit to the 

applicable supervising ethics office a  
report describing the covered payment4  
7g7 ,enforcement  7#a7 ,divestiture or  
placement in qualified blind trust  7,a7
 ,in general ,the applicable supervising
 ethics office shall provide a written  
notice 7including notice of the         
potential for civil penalties under     
subparagraph 7,b77 to any ,member of    
,congress if the ,member of ,congress1  
or spouse or dependent child of the     
,member of ,congress-- 7i7 fails to     
submit a certification under subsection 
7a77#a7 by the date on which the        
certification is required to be         
submitted2  7ii7 fails to divest or     
place in a qualified blind trust a      
covered investment owned by1 or in the  
custody of the covered person1 in       
accordance with subsection 7a77#b71     
subject to any extension under          
subsection 7a77#c72 or  7iii7 acquires  
an interest in a covered investment in  
violation of this section4  7,b7 ,civil 
penalties  7i7 ,in general ,in the event

 of continuing noncompliance after      
issuance of the notice described in     
subparagraph 7,a71 the supervising      
ethics office shall impose a civil      
penalty1 in the amount described in     
clause 7ii71 on a ,member of ,congress  
to whom a notice is provided under      
clause 7i7 or 7ii7 of subparagraph      
7,a7-- 7,i7 on the date that is #cj days
 after the date of provision of the     
notice2 and  7,,ii7 during the period in
 which such noncompliance continues1 not
 less frequently than once every #cj    
days thereafter4  7ii7 ,amount ,the     
amount of each civil penalty imposed on 
a ,member of ,congress pursuant to      
clause 7i7 shall be equal to the greater
 of--  7,i7 the monthly equivalent of   
the annual rate of pay payable to the   
,member of ,congress2 and  7,,ii7 an    
amount equal to #aj percent of the value
 of each covered investment that was not
 divested or placed into a qualified    
blind trust in violation of this section
 during the period covered by the       

penalty4  7#b7 ,communications ,the     
,attorney ,general of the ,united       
,states shall file a civil action       
seeking to impose a civil penalty on any
 covered person or trustee of a         
qualified blind trust who violates      
subsection 7a77#d71 or otherwise        
discloses the contents of a qualified   
blind trust to any unauthorized         
individual1 equal to the greater of--   
7,a7 #aj1jjj per each communication2 or 
7,b7 #a percent of the value of the     
qualified blind trust on the date of the
 violation4  7h7 ,duties of supervising 
ethics offices ,each supervising ethics 
office in the legislative branch shall--
  7#a7 impose and collect civil         
penalties in accordance with subsection 
7g72  7#b7 establish such procedures and
 standard forms as the supervising      
ethics office determines to be          
appropriate to implement this section2  
7#c7 issue such rules and guidelines as 
the supervising ethics office determines
 to be appropriate for the              

implementation and application of this  
title2 and  7#d7 publish on a website   
all documents and communications        
described in this subsection4  7i7 ,rule
 of construction ,nothing in this       
section shall be construed to prevent a 
covered person from owning or trading-- 
7#a7 a diversified mutual fund2 or  7#b7
 a publicly traded1 diversified exchange
 traded fund4  7j7 ,effective date ,this
 section shall apply to each covered    
person beginning on the date on which   
the covered person 7or with respect to a
 covered person that is a spouse or     
dependent child of a ,member of         
,congress1 the date on which that       
,member of ,congress7 commences the     
first new term of service as a ,member  
of ,congress on or after ,january #ca1  
#bjbc4  4  7b7 ,clerical amendment ,the 
table of sections for chapter #aca of   
title #e1 ,united ,states ,code1 is     
amended by adding at the end the        
following3  ,,subchapter ,,iv--,certain 
assets of ,members of ,congress and     

their spouses and dependent children    
#acafa4 ,definitions4 #acafb4 ,trading  
covered investments4 #acafc4 ,addressing
 owned covered investments4  4  7c7     
,technical and conforming amendments    
7#a7 ,title #e ,title #e1 ,united       
,states ,code1 is amended--  7,a7 in    
section #acajc7;f7-- 7i7 in paragraph   
7#i71 by striking as defined in section 
#acaja of this title2  7ii7 in paragraph
 7#aj71 by striking as defined in       
section #acaja of this title2  7iii7 in 
paragraph 7#aa71 by striking as defined 
in section #acaja of this title2 and    
7iv7 in paragraph 7#ab71 by striking as 
defined in section #acaja of this title2
 and  7,b7 in section                   
#acabb7;f77#b77;,b7--  7i7 by striking  
,subject to clause 7iv7 of this         
subparagraph1 before each place it      
appears and inserting ,before2 and  7ii7
 by striking clause 7iv74  7#b7         
,lobbying ,disclosure ,act of #aiie     
,section #c7d77;,d7 of the ,lobbying    
,disclosure ,act of #aiie 7#b ,u4,s4,c4 

#afjb7d77;,d77 is amended by striking   
legislative branch employee serving in a
 position described under section       
#acaja7ac7 of title #e1 ,united ,states 
,code and inserting officer or employee 
of ,congress 7as defined in section     
#acaja of title #e1 ,united ,states     
,code74  7#c7 ,securities ,exchange ,act
 of #aicd ,section #ba;,a of the        
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #ghu-#a7 is amended--  7,a7  
in subsection 7g77#b77;,b77ii71 by      
striking section #acaja7aa7 and         
inserting section #acaja2 and  7,b7 in  
subsection 7h77#b7--  7i7 in            
subparagraph 7,b71 by striking in       
section #acaja7i7 and inserting under   
section #acaja2 and  7ii7 in            
subparagraph 7,c71 by striking section  
#acaja7aj7 and inserting in section     
#acaja4  #c4 ,penalty for ,,stock ,act  
noncompliance  7a7 ,fines for failure   
,to report  7#a7 ,in general ,the       
,,stock ,act 7,public ,law #aab-aje2    
#abf ,stat4 #bia2 #abf ,stat4 #acaj2    

#abg ,stat4 #dch2 #acb ,stat4 #dafg7 is 
amended by adding at the end the        
following3  #bj4 ,fines for failure to  
report  7a7 ,in general ,notwithstanding
 any other provision of law 7including  
regulations71 a reporting individual    
shall be assessed a fine1 pursuant to   
regulations issued by the applicable    
supervising ethics office 7including the
 ,administrative ,office of the ,united 
,states ,courts1 as applicable71 of #ejj
 in each case in which the reporting    
individual fails to file a transaction  
report required under this ,act or an   
amendment made by this ,act4  7b7       
,deposit in the ,treasury ,the fines    
paid under this section shall be        
deposited in the miscellaneous receipts 
of the ,treasury4  4  7#b7 ,effective   
date ,the amendments made by paragraph  
7#a7 shall take effect on the date on   
which the reporting individual who is a 
,member of ,congress commences the first
 new term of service as a ,member of    
,congress on or after ,january #ca1     

#bjbc4  7b7 ,rules1 regulations1        
guidance1 and documents ,not later than 
#a year after the date of enactment of  
this ,act1 each supervising ethics      
office 7as defined in section #b of the 
,,stock ,act 7#e ,u4,s4,c4 ,app4 #aja   
note77 7including the ,administrative   
,office of the ,united ,states ,courts1 
as applicable7 shall amend the rules1   
regulations1 guidance1 documents1       
papers1 and other records of the        
supervising ethics office in accordance 
with the amendment made by this section4
  #d4 ,electronic filing and online     
public availability of financial        
disclosure forms  7a7 ,members of       
,congress and congressional staff       
,section #h7;b77#a7 of the ,,stock ,act 
7#e ,u4,s4,c4 ,app4 #aje note7 is       
amended--  7#a7 in the matter preceding 
subparagraph 7,a71 by inserting 1       
pursuant to subchapter ,i of chapter    
#aca of part ,,iv of title #e1 ,united  
,states ,code1 through databases        
maintained on the official websites of  

the ,house of ,representatives and the  
,senate after enable2 and  7#b7 by      
striking subparagraph 7,b7 and the      
undesignated matter following that      
subparagraph and inserting the          
following3  7,b7 public access-- 7i7 to 
each--  7,i7 financial disclosure report
 filed by a ,member of ,congress or a   
candidate for ,congress2  7,,ii7        
transaction disclosure report filed by a
 ,member of ,congress or a candidate for
 ,congress pursuant to subsection 7l7 of
 that section2 and  7,,iii7 notice of   
extension1 amendment1 or blind trust1   
with respect to a report described in   
subclause 7,i7 or 7,,ii71 pursuant to   
subchapter ,i of chapter #aca of part   
,,iv of title #e1 ,united ,states ,code2
 and  7ii7 in a manner that--  7,i7     
allows the public to search1 sort1 and  
download data contained in the reports  
described in subclause 7,i7 or 7,,ii7 of
 clause 7i7 by criteria required to be  
reported1 including by filer name1      
asset1 transaction type1 ticker symbol1 

notification date1 amount of            
transaction1 and date of transaction2   
7,,ii7 allows access through an         
application programming interface2 and  
7,,iii7 is fully compliant with-- 7aa7  
section #ejh of the ,rehabilitation ,act
 of #aigc 7#bi ,u4,s4,c4 #gid;d72 and   
7bb7 the most recent ,web ,content      
,accessibility ,guidelines 7or successor
 guidelines74  4  7b7 ,effective date   
,the amendments made by this section    
take effect on the date that is #ah     
months after the date of enactment of   
this ,act4  #e4 ,severability ,if any   
provision of this ,act1 an amendment    
made by this ,act1 or the application of
 such provision or amendment to any     
person or circumstance is held to be    
unconstitutional1 the remainder of this 
,act and of the amendments made by this 
,act1 and the application of the        
remaining provisions of this ,act and   
amendments to any person or             
circumstance1 shall not be affected4