,,iv  #aai? ,,congress  #a/ ,session    
,h4 ,,res4 #ffe  ,,9 ,,! ,,h\se ,,(     
,,repres5tatives  ,augu/ #bi1 #bjbe,mrs4
 ,luna submitt$ ! foll[+ resolution2 :i*
 0 ref]r$ to ! ,committee on ,rules     
,,resolution  ,provid+ = consid]ation ( 
! bill 7,h4,r4 #aijh7 to prohibit /ock  
trad+ & own]%ip by ,memb]s ( ,congress &
 _! sp\ses & dep5d5t *ildr51 & = o!r    
purposes4  ,t imm$iately ^u adoption (  
?is resolution1 ! ,h\se %all proce$ to !
 consid]ation 9 ! ,h\se ( ! bill 7,h4,r4
 #aijh7 to prohibit /ock trad+ & own]%ip
 by ,memb]s ( ,congress & _! sp\ses &   
dep5d5t *ildr51 & = o!r purposes4 ,all  
po9ts ( ord] aga9/ consid]ation ( ! bill
 are waiv$4 ,! am5dm5t specifi$ 9       
section #c ( ?is resolution %all be     
consid]$ z adopt$4 ,! bill1 z am5d$1    
%all be consid]$ z read4 ,all po9ts (   
ord] aga9/ provisions 9 ! bill1 z am5d$1
 are waiv$4 ,! previ\s "q %all be       
consid]$ z ord]$ on ! bill1 z am5d$1 &  
on any fur!r am5dm5t !reto1 to f9al     
passage )\t int]v5+ motion except3 7#a7 

"o h\r ( debate equally divid$ &        
controll$ by ! *air & rank+ m9ority     
memb] ( ! ,committee on ,f9ancial       
,s]vices2 & 7#b7 "o motion to recommit4 
#b4 ,clause #a7;c7 ( rule ,,xix %all n  
apply to ! consid]ation ( ,h4,r4 #aijh4 
#c4 ,! am5dm5t specifi$ 9 ?is section is
 z foll[s4  ,/rike section #a & all t   
foll[s & ins]t ! foll[+3  #a4  ,%ort    
title  ,?is ,act may be cit$ z ! ,end   
,congressional ,/ock ,trad+ ,act4  #b4  
,b> on /ock trad+ & own]%ip by ,memb]s (
 ,congress & _! sp\ses & dep5d5t *ildr5 
7a7  ,def9itions  ,9 ?is section3 7#a7  
,commodity ,! t]m commodity has ! mean+ 
giv5 t t]m 9 section #a;a ( ! ,commodity
 ,ex*ange ,act 7#g ,u4,s4,c4 #a;a74     
7#b7  ,dep5d5t *ild  ,! t]m dep5d5t *ild
 has ! mean+ giv5 t t]m 9 section #acaja
 ( title #e1 ,unit$ ,/ates ,code4  7#c7 
,div]sifi$  ,! t]m div]sifi$1 ) respect 
to an inve/m5t fund1 means t ! inve/m5t 
fund does n h a /at$ policy ( ov]ly     
conc5trat+ its inve/m5ts4  7#d7  ,memb] 
( ,congress  ,! t]m ,memb] ( ,congress  

has ! mean+ giv5 t t]m 9 section #acaja 
( title #e1 ,unit$ ,/ates ,code4  7#e7  
,qualifi$ bl9d tru/  ,! t]m qualifi$    
bl9d tru/ has ! mean+ giv5 t t]m 9      
section #acajd7;f77#c7 ( title #e1      
,unit$ ,/ates ,code4  7#f7  ,security   
,! t]m security has ! mean+ giv5 t t]m 9
 section #c7;a7 ( ,securities ,ex*ange  
,act ( #aicd 7#ae ,u4,s4,c4 #gh;c7a774  
7#g7  ,small bus9ess conc]n  ,! t]m     
small bus9ess conc]n has ! mean+ giv5 t 
t]m "u section #c ( ! ,small ,bus9ess   
,act 7#ae ,u4,s4,c4 #fcb74  7#h7        
,widely held inve/m5t fund  ,! t]m      
widely held inve/m5t fund means a widely
 held inve/m5t fund describ$ 9          
#acajd7;f77#h7 ( title #e1 ,unit$ ,/ates
 ,code4  7b7  ,dive/m5t  7#a7  ,9 g5]al 
,a ,memb] ( ,congress or a sp\se or     
dep5d5t *ild ( a ,memb] ( ,congress may 
n own an int]e/ 9 or trade 7except z a  
dive/m5t7 any /ock1 bond1 commodity1    
future1 or o!r =m ( security1 includ+ an
 int]e/ 9 a h$ge fund1 a d]ivative1     
option1 or o!r complex inve/m5t vehicle4

  7#b7  ,implem5tation  7,a7  ,curr5t   
,memb]s  7i7  ,9 g5]al  ,except z       
provid$ 9 clause 7ii71 an individual :o 
is a ,memb] ( ,congress or a sp\se or   
dep5d5t *ild ( a ,memb] ( ,congress on !
 date ( enactm5t ( ?is ,act %all        
complete ! dive/m5t ( any asset describ$
 9 p>agraph 7#a7 by n lat] ?an #ahj days
 aft] ! date ( enactm5t ( ?is ,act4     
7ii7  ,c]ta9 assets  ,= an asset        
describ$ 9 p>agraph 7#a7 t is an int]e/ 
9 a h$ge fund1 v5ture capital fund1 or  
o!r privately held complex inve/m5t     
vehicle1 an individual :o is a ,memb] ( 
,congress or a sp\se or dep5d5t *ild ( a
 ,memb] ( ,congress on ! date ( enactm5t
 ( ?is ,act %all complete ! dive/m5t ( !
 asset by n lat] ?an #b ye>s aft] ! date
 ( enactm5t ( ?is ,act4  7,b7  ,new     
,memb]s  7i7  ,9 g5]al  ,except z       
provid$ 9 clause 7ii71 an individual :o 
becomes a ,memb] ( ,congress or a sp\se 
or dep5d5t *ild ( a ,memb] ( ,congress  
aft] ! date ( enactm5t ( ?is ,act %all  
complete ! dive/m5t ( any asset describ$

 9 p>agraph 7#a7 by n lat] ?an #ahj days
 aft] ! date on :i* ! individual becomes
 a ,memb] ( ,congress or a sp\se or     
dep5d5t *ild ( a ,memb] ( ,congress4    
7ii7  ,c]ta9 assets  ,= an asset        
describ$ 9 p>agraph 7#a7 t is an int]e/ 
9 a h$ge fund1 v5ture capital fund1 or  
o!r privately held complex inve/m5t     
vehicle1 an individual :o becomes a     
,memb] ( ,congress or a sp\se or dep5d5t
 *ild ( a ,memb] ( ,congress aft] ! date
 ( enactm5t ( ?is ,act %all complete !  
dive/m5t ( ! asset by n lat] ?an #b ye>s
 aft] ! date on :i* ! individual becomes
 a ,memb] ( ,congress or a sp\se or     
dep5d5t *ild ( a ,memb] ( ,congress4    
7,c7  ,dive/m5t ( assets receiv$ :ile a 
,memb]  ,an individual s]v+ z a ,memb] (
 ,congress or a sp\se or dep5d5t *ild ( 
an individual s]v+ z a ,memb] (         
,congress :o receives any asset describ$
 9 p>agraph 7#a7 dur+ ! p]iod ( su*     
s]vice1 su* z f an inh]itance1 %all     
complete ! dive/m5t ( ! asset by n lat] 
?an #ahj days aft] ! date on :i* !      

individual receives ! asset4  7c7       
,exceptions  ,no?+ 9 ?is section %all be
 con/ru$ to prev5t-- 7#a7 a ,memb] (    
,congress or a sp\se or dep5d5t *ild ( a
 ,memb] ( ,congress f own+ or trad+--   
7,a7 a widely held inve/m5t fund1 if !  
widely held inve/m5t fund-- 7i7 does n  
pres5t a conflict ( int]e/2 &  7ii7 is  
div]sifi$2  7,b7 %>es ( ,settlem5t      
,common ,/ock issu$ "u section          
#g7;g77#a77;,a7 ( ! ,alaska ,native     
,claims ,settlem5t ,act 7#dc ,u4,s4,c4  
#afjf7;g77#a77;,a772  7,c7 %>es (       
,settlem5t ,common ,/ock1 z def9$ 9     
section #c ( ! ,alaska ,native ,claims  
,settlem5t ,act 7#dc ,u4,s4,c4 #afjb72  
7,d7 a ,unit$ ,/ates ,treasury bill1    
note1 or bond2  7,e7 an inve/m5t fund   
held 9 a ,f$]al1 ,/ate1 or local        
gov]nm5t employee retirem5t plan2  7,f7 
an int]e/ 9 a small bus9ess conc]n1 if !
 small bus9ess conc]n does n pres5t a   
conflict ( int]e/2 or  7,g7 any asset   
describ$ 9 subsection 7b77#a7 receiv$ z 
comp5sation f ! prim>y occupation ( !   

sp\se2  7#b7 a sp\se or dep5d5t *ild ( a
 ,memb] ( ,congress f trad+ any asset   
describ$ 9 subsection 7b77#a7 t is n    
own$ by ! sp\se or ,memb] ( ,congress 9 
! c\rse ( p]=m+ ! prim>y occupation ( ! 
sp\se2 or  7#c7 a ,memb] ( ,congress or 
a sp\se or dep5d5t *ild ( a ,memb] (    
,congress f hold+ any /ock1 bond1       
commodity1 future1 or o!r =m ( security 
9 a qualifi$ bl9d tru/ op]at$ on behalf 
(1 or = ! b5efit (1 ! ,memb] or ! sp\se 
or dep5d5t *ild ( ! ,memb]4  7d7  ,civil
 f9es  7#a7  ,9 g5]al  ,! ,attorney     
,g5]al or ! ,special ,c\nsel may br+ a  
civil action 9 ! appropriate ,unit$     
,/ates di/rict c\rt aga9/ any ,memb] (  
,congress or sp\se or dep5d5t *ild ( a  
,memb] ( ,congress :o engages 9 conduct 
con/itut+ a violation ( ?is section &1  
^u pro( ( su* conduct by a prepond]ance 
( ! evid5ce1 su* ,memb] ( ,congress or  
sp\se or dep5d5t *ild ( su* ,memb] (    
,congress %all be subject to a civil    
p5alty ( n m ?an #ajj1jjj = ea*         
violation or #aj p]c5t ( ! mo/ rec5t    

comb9$ value ( ea* /ock1 bond1          
commodity1 future1 or o!r =m ( security 
involv$ 7:i*ev] is great]74 ,!          
imposition ( a civil p5alty "u ?is      
subsection does n preclude any o!r      
crim9al or civil /atutory1 common law1  
or adm9i/rative rem$y1 :i* is available 
by law to ! ,unit$ ,/ates or any o!r    
p]son4  7#b7  ,prohibit+ use ( (fice    
funds  ,a ,memb] ( ,congress may n use  
funds made available f ! ,memb]s'       
,repres5tational ,all[ance 79 ! case ( a
 ,repres5tative 91 or ,delegate or      
,resid5t ,commission] to1 ! ,congress7  
or ! ,s5ators' ,(ficial ,p]sonnel &     
,(fice ,exp5se ,acc\nt 79 ! case ( a    
,s5ator7 to pay a p5alty impos$ "u      
p>agraph 7#a74  7#c7  ,prohibit+ use (  
campaign funds  ,section #cac7;b7 ( !   
,f$]al ,election ,campaign ,act ( #aiga 
7#eb ,u4,s4,c4 #cjaad7;b77 is am5d$ by  
add+ at ! end ! foll[+ new p>agraph3    
7#c7  ,prohibit+ use to pay c]ta9       
p5alties  ,a contribution or a donation 
describ$ 9 subsection 7a7 may n be us$  

to pay a p5alty impos$ "u section       
#b7;d77#a7 ( ! ,end ,congressional ,/ock
 ,trad+ ,act4  4  7e7  ,nonrecognition (
 ga9  7#a7  ,9 g5]al  ,p>agraph 7#a7 (  
section #ajdc7;b7 ( ! ,int]nal ,rev5ue  
,code ( #aihf is am5d$--  7,a7 by /rik+ 
& at ! end ( subp>agraph 7,a72  7,b7 by 
r$esignat+ subp>agraph 7,b7 z           
subp>agraph 7,c72  7,c7 by ins]t+ aft]  
subp>agraph 7,a7 ! foll[+ new           
subp>agraph3  7,b7 any ,memb] (         
,congress or any sp\se or dep5d5t *ild (
 a ,memb] ( ,congress1 b only ) respect 
to a dive/m5t ( prop]ty requir$ by !    
,end ,congressional ,/ock ,trad+ ,act & 
only if1 n lat] ?an #fj days aft] !     
dive/m5t ( su* prop]ty1 ! individual    
uses ! proce$s ( ! dive/m5t to obta9    
prop]ty :i* ! individual is au?oriz$ to 
own or trade "u section #b7;c77#a7 ( su*
 ,act1 &  2 &  7,d7 by /rik+ subp>agraph
 7,a7 9 subp>agraph 7,c71 z s           
r$esignat$1 & ins]t+ subp>agraph 7,a7 or
 7,b71 :i*ev] is applicable4  7#b7      
,c]tificate ( dive/iture  ,subp>agraph  

7,b7 ( section #ajdc7;b77#b7 ( su* ,code
 is am5d$-- 7,a7 by /rik+ or by & ins]t+
 by2 &  7,b7 by ins]t+ 1 or by !        
applicable congressional e?ics          
committee1 z def9$ 9 section #acaja (   
title #e1 ,unit$ ,/ates ,code1 9 ! case 
( ,memb]s ( ,congress & sp\ses & dep5d5t
 *ildr5 ( ,memb]s ( ,congress1 aft]     
judicial (fic]s4  7#c7  ,no effect on   
subsequ5t sale ( prop]ty  ,no?+ 9 !     
am5dm5ts made by ?is subsection %all be 
con/ru$ to provide = ! nonrecognition ( 
ga9 ) respect to ! sale ( prop]ty obta9$
 by a ,memb] ( ,congress or any sp\se or
 dep5d5t *ild ( a ,memb] ( ,congress ) !
 proce$s ( a dive/m5t requir$ by ?is    
,act1 z describ$ 9 section              
#ajdc7;b77#a77;,b7 ( ! ,int]nal ,rev5ue 
,code ( #aihf 7z add$ by ?is            
subsection74  7#d7  ,effective date  ,! 
am5dm5ts made by ?is subsection %all    
apply to sales ( prop]ty aft] ! date ( !
 enactm5t ( ?is ,act4  7f7  ,int]pretive
 guidance  ,! ,select ,committee on     
,e?ics ( ! ,s5ate & ! ,committee on     

,e?ics ( ! ,h\se ( ,repres5tatives %all 
issue int]pretive guidance reg>d+       
relevant t]ms n def9$ 9 ?is ,act or     
else:]e 9 /atute4  #c4  ,annual         
c]tification ( compliance  7a7          
,c]tification  7#a7  ,9 g5]al  ,except z
 provid$ 9 p>agraph 7#b71 n lat] ?an #fj
 days aft] ! beg9n+ ( any session (     
,congress1 ea* ,memb] ( ,congress %all  
submit to ! applicable (ficial a writt5 
c]tification t ! ,memb] & ! ,memb]'s    
sp\se are 9 compliance ) ! requirem5ts (
 ?is ,act4  7#b7  ,special rule = fir/  
session aft] enactm5t  ,9 ! case ( !    
fir/ session ( ,congress :i* beg9s aft] 
! date ( ! enactm5t ( ?is ,act1 p>agraph
 7#a7 %all apply z if ! ref]5ce to #fj  
days 0 a ref]5ce to #ahj days4  7b7     
,publication  ,! applicable (ficial %all
 publi% ! c]tifications submitt$ to !   
applicable (ficial "u p>agraph 7#a7 on a
 publicly available website4  7c7  ,use 
( c]tifications = audits by ,int]nal    
,rev5ue ,s]vice  ,^u receiv+ a          
c]tification "u subsection 7a71 !       

applicable (ficial %all transmit !      
c]tification to ! ,secret>y ( !         
,treasury1 :o %all c>ry out su* actions1
 includ+ audits & inve/igations1 z !    
,secret>y det]m9es appropriate to ensure
 ! accuracy ( ! c]tification4  7d7      
,applicable (ficial def9$  ,9 ?is       
section1 ! t]m applicable (ficial       
means-- 7#a7 ! ,cl]k ( ! ,h\se (        
,repres5tatives 79 ! case ( a           
,repres5tative 91 or ,delegate or       
,resid5t ,commission] to1 ! ,congress or
 ! sp\se ( a ,repres5tative 91 or       
,delegate or ,resid5t ,commission] to1 !
 ,congress72 or  7#b7 ! ,secret>y ( !   
,s5ate 79 ! case ( a ,s5ator & ! sp\se (
 a ,s5ator74  4