,,ii #aai? ,,congress #a/ ,session ,s4 #cbja ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,novemb] #ai1 #bjbe,mr4 ,%eehy introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,homel& ,security & ,gov]nm5tal ,affairs ,a ,,bill ,to am5d *apt] #aca ( title #e1 ,unit$ ,/ates ,code1 to prohibit transactions involv+ c]ta9 assets by ,memb]s ( ,congress1 to require ,memb]s ( ,congress & _! sp\ses & dep5d5t *ildr5 to place c]ta9 assets into bl9d tru/s1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,good ,gov]nm5t ,act ( #bjbe4 #b4 ,cov]$ f9ancial in/rum5ts ( ,memb]s ( ,congress & _! sp\ses & dep5d5t *ildr5 7a7 ,9 g5]al ,*apt] #aca ( title #e1 ,unit$ ,/ates ,code1 is am5d$ by add+ at ! end ! foll[+3 ,,iv ,cov]$ f9ancial in/rum5ts ( ,memb]s ( ,congress & _! sp\ses & dep5d5t *ildr5 #acafa4 ,def9itions ,9 ?is sub*apt]3 7#a7 ,commodity ,! t]m commodity has ! mean+ giv5 ! t]m 9 section #a;a ( ! ,commodity ,ex*ange ,act 7#g ,u4,s4,c4 #a;a74 7#b7 ,cov]$ f9ancial in/rum5t 7,a7 ,9 g5]al ,! t]m cov]$ f9ancial in/rum5t means-- 7i7 any inve/m5t 9-- 7,i7 a security2 7,,ii7 a security future2 or 7,,iii7 a commodity2 & 7ii7 any economic int]e/ comp>able to an int]e/ describ$ 9 clause 7i7 t is acquir$ ?r\gh syn!tic means1 su* z ! use ( a d]ivative1 includ+ an option1 a w>rant1 or o!r simil> means4 7,b7 ,inclusions ,! t]m cov]$ f9ancial in/rum5t includes an inve/m5t or economic int]e/ describ$ 9 subp>agraph 7,a7 t is held directly1 or 9 :i* an individual has an indirect1 b5eficial1 or economic int]e/1 ?r\gh-- 7i7 an inve/m5t fund2 7ii7 a tru/ 7o!r ?an a qualifi$ bl9d tru/72 7iii7 an employee b5efit plan2 or 7iv7 a def]r$ comp5sation plan1 includ+ a c>ri$ int]e/ or o!r agreem5t ti$ to ! p]=mance ( an inve/m5t1 o!r ?an a fix$ ca% paym5t4 7,c7 ,exclusions ,! t]m cov]$ f9ancial in/rum5t does n include-- 7i7 a div]sifi$ mutual fund 7includ+ any hold+s ( su* a fund72 7ii7 a div]sifi$ ex*ange-trad$ fund 7includ+ any hold+s ( su* a fund72 7iii7 a ,unit$ ,/ates ,treasury bill1 note1 or bond2 7iv7 comp5sation f ! prim>y occupation ( a sp\se or dep5d5t *ild ( a ,memb] ( ,congress2 or 7v7 any inve/m5t fund held 9 a ,f$]al1 ,/ate1 or local gov]nm5t employee retirem5t plan4 7,d7 ,cl>ification ,an inve/m5t t a*ieves compliance ) applicable environm5tal1 social1 & gov]nance crit]ia %all n be consid]$ to be a cov]$ f9ancial in/rum5t solely by reason ( t compliance4 7#c7 ,curr5t ,! t]m curr5t1 ) respect to a ,memb] ( ,congress1 means an individual :o is s]v+ z a ,memb] ( ,congress on ! date ( enactm5t ( ! ,good ,gov]nm5t ,act ( #bjbe4 7#d7 ,dep5d5t *ild2 ,memb] ( ,congress ,! t]ms dep5d5t *ild & ,memb] ( ,congress h ! mean+s giv5 ^? t]ms 9 section #acaja4 7#e7 ,div]sifi$ ,! t]m div]sifi$1 ) respect to a fund1 tru/1 or plan1 means t ! fund1 tru/1 or plan does n h a /at$ policy ( conc5trat+ its inve/m5ts 9 any indu/ry1 bus9ess1 s+le c\ntry o!r ?an ! ,unit$ ,/ates1 or bonds ( a s+le ,/ate4 7#f7 ,initial prop]ty ,! t]m initial prop]ty means an asset or f9ancial int]e/ transf]r$ to a qualifi$ bl9d tru/ by1 or on behalf (1 an int]e/$ p>ty or a relative ( an int]e/$ p>ty1 reg>dless ( :e!r ! asset or f9ancial int]e/ is transf]r$ to ! qualifi$ bl9d tru/ on or aft] ! date ( e/abli%m5t ( ! qualifi$ bl9d tru/4 7#g7 ,int]e/$ p>ty ,! t]m int]e/$ p>ty has ! mean+ giv5 ! t]m 9 section #acajd7;f77#c77;,e74 7#h7 ,new ,! t]m new1 ) respect to a ,memb] ( ,congress1 means an individual :o-- 7,a7 is n a curr5t ,memb] ( ,congress2 b 7,b7 comm5ces s]vice z a ,memb] ( ,congress aft] ! date ( enactm5t ( ! ,good ,gov]nm5t ,act ( #bjbe4 7#i7 ,qualifi$ bl9d tru/ ,! t]m qualifi$ bl9d tru/ means a qualifi$ bl9d tru/1 z def9$ 9 section #acajd7;f77#c71 t has be5 approv$ 9 writ+ by ! applicable sup]vis+ e?ics (fice "u section #acajd7;f77#c77;,d74 7#aj7 ,security2 security future ,! t]ms security & security future h ! mean+s giv5 ^? t]ms 9 section #c7;a7 ( ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;c7a774 7#aa7 ,sup]vis+ e?ics committee ,! t]m sup]vis+ e?ics committee means1 z applicable-- 7,a7 ! ,select ,committee on ,e?ics ( ! ,s5ate2 & 7,b7 ! ,committee on ,e?ics ( ! ,h\se ( ,repres5tatives4 #acafb4 ,prohibition on c]ta9 transactions & hold+s involv+ cov]$ f9ancial in/rum5ts ,except z provid$ 9 section #acafc1 a ,memb] ( ,congress1 or any sp\se or dep5d5t *ild ( a ,memb] ( ,congress1 may n1 dur+ ! t]m ( s]vice ( ! ,memb] ( ,congress1 hold1 pur*ase1 or sell any cov]$ f9ancial in/rum5t4 #acafc4 ,dive/m5t & placem5t ( cov]$ f9ancial in/rum5ts 9 qualifi$ bl9d tru/s 7a7 ,curr5t ,memb]s ( ,congress 7#a7 ,c]tification ,n lat] ?an #cj days aft] ! date ( enactm5t ( ! ,good ,gov]nm5t ,act ( #bjbe1 ea* curr5t ,memb] ( ,congress %all submit to ! applicable sup]vis+ e?ics (fice a c]tification t1 z applicable-- 7,a7 = ea* cov]$ f9ancial in/rum5t own$ by ! ,memb] ( ,congress or a sp\se or dep5d5t *ild ( ! ,memb] ( ,congress1 ! ,memb] ( ,congress1 or ! applicable sp\se or dep5d5t *ild ( ! ,memb] ( ,congress1 w1 9 accordance ) p>agraph 7#b7-- 7i7 dive/ ! cov]$ f9ancial in/rum5t2 or 7ii7 place ! cov]$ f9ancial in/rum5t 9 a qualifi$ bl9d tru/1 includ+ by e/abli%+ a qualifi$ bl9d tru/ = t purpose1 if necess>y2 or 7,b7 nei!r ! ,memb] ( ,congress nor any sp\se or dep5d5t *ild ( ! ,memb] ( ,congress owns a cov]$ f9ancial in/rum5t4 7#b7 ,dive/iture or placem5t 9 qualifi$ bl9d tru/ 7,a7 ,requirem5t ,subject to p>agraph 7#c71 n lat] ?an #abj days aft] ! date ( enactm5t ( ! ,good ,gov]nm5t ,act ( #bjbe1 ea* curr5t ,memb] ( ,congress %all dive/1 or place 9 a qualifi$ bl9d tru/ 7includ+ by e/abli%+ a qualifi$ bl9d tru/ = t purpose1 if necess>y71 ea* cov]$ f9ancial in/rum5t own$ by ! ,memb] ( ,congress or a sp\se or dep5d5t *ild ( ! ,memb] ( ,congress4 7,b7 ,dive/iture ,a curr5t ,memb] ( ,congress %all dive/ a cov]$ f9ancial in/rum5t held by ! ,memb] ( ,congress or a sp\se or dep5d5t *ild ( ! ,memb] ( ,congress if-- 7i7 ! ,memb] ( ,congress1 or ! applicable sp\se or dep5d5t *ild ( ! ,memb] ( ,congress1 is unable to place ! cov]$ f9ancial in/rum5t 9 a qualifi$ bl9d tru/ by ! date describ$ 9 subp>agraph 7,a72 & 7ii7 ! ,memb] ( ,congress fails to obta9 an ext5sion pursuant to p>agraph 7#c74 7#c7 ,ext5sions ,if a curr5t ,memb] ( ,congress1 or a sp\se or dep5d5t *ild ( ! ,memb] ( ,congress1 is unable to place a cov]$ f9ancial in/rum5t 9 a qualifi$ bl9d tru/ by ! date describ$ 9 p>agraph 7#b77;,a71 ! ,memb] ( ,congress may reque/1 & ! sup]vis+ e?ics (fice may grant1 #a or m reasonable ext5sions1 subject to ! conditions t-- 7,a7 ! total p]iod ( "t cov]$ by all ext5sions grant$ to ! ,memb] ( ,congress = ! cov]$ f9ancial in/rum5t %all n exce$ #ahj days2 & 7,b7 ! p]iod cov]$ by a s+le ext5sion %all be n long] ?an #de days4 7b7 ,new ,memb]s ( ,congress 7#a7 ,c]tification ,n lat] ?an #cj days aft] ! date on :i* an individual becomes a new ,memb] ( ,congress1 ! new ,memb] ( ,congress %all submit to ! applicable sup]vis+ e?ics (fice a c]tification t1 z applicable-- 7,a7 = ea* cov]$ f9ancial in/rum5t own$ by ! ,memb] ( ,congress or a sp\se or dep5d5t *ild ( ! ,memb] ( ,congress1 ! ,memb] ( ,congress1 or ! applicable sp\se or dep5d5t *ild ( ! ,memb] ( ,congress1 w-- 7i7 dive/ ! cov]$ f9ancial in/rum5t2 or 7ii7 place ! cov]$ f9ancial in/rum5t 9 a qualifi$ bl9d tru/1 includ+ by e/abli%+ a qualifi$ bl9d tru/ = t purpose1 if necess>y2 or 7,b7 nei!r ! ,memb] ( ,congress nor a sp\se or dep5d5t *ild ( ! ,memb] ( ,congress owns a cov]$ f9ancial in/rum5t4 7#b7 ,dive/iture or placem5t 9 qualifi$ bl9d tru/ 7,a7 ,requirem5t ,subject to p>agraph 7#c71 n lat] ?an #abj days aft] ! date on :i* an individual becomes a new ,memb] ( ,congress1 ! individual %all dive/1 or place 9 a qualifi$ bl9d tru/ 7includ+ by e/abli%+ a qualifi$ bl9d tru/ = t purpose1 if necess>y71 ea* cov]$ f9ancial in/rum5t own$ by ! ,memb] ( ,congress or a sp\se or dep5d5t *ild ( ! ,memb] ( ,congress4 7,b7 ,dive/iture ,a new ,memb] ( ,congress %all dive/ a cov]$ f9ancial in/rum5t held by ! ,memb] ( ,congress or a sp\se or dep5d5t *ild ( ! ,memb] ( ,congress if-- 7i7 ! ,memb] ( ,congress1 or ! applicable sp\se or dep5d5t *ild ( ! ,memb] ( ,congress1 is unable to place ! cov]$ f9ancial in/rum5t 9 a qualifi$ bl9d tru/ by ! date describ$ 9 subp>agraph 7,a72 & 7ii7 ! ,memb] ( ,congress fails to obta9 an ext5sion pursuant to p>agraph 7#c74 7#c7 ,ext5sions ,if a new ,memb] ( ,congress1 or a sp\se or dep5d5t *ild ( ! ,memb] ( ,congress1 is unable to place a cov]$ f9ancial in/rum5t 9 a qualifi$ bl9d tru/ by ! date describ$ 9 p>agraph 7#b77;,a71 ! ,memb] ( ,congress may reque/1 & ! sup]vis+ e?ics (fice may grant1 #a or m reasonable ext5sions1 subject to ! conditions t-- 7,a7 ! total p]iod ( "t cov]$ by all ext5sions grant$ to ! ,memb] ( ,congress = ! cov]$ f9ancial in/rum5t %all n exce$ #ahj days2 & 7,b7 ! p]iod cov]$ by a s+le ext5sion %all be n long] ?an #de days4 7c7 ,m+l+ ( assets ,a sp\se or dep5d5t *ild ( a ,memb] ( ,congress may place a cov]$ f9ancial in/rum5t 9 a qualifi$ bl9d tru/ e/abli%$ by ! ,memb] ( ,congress "u subsection 7a77#b77;,a7 or 7b77#b77;,a71 z applicable4 7d7 ,sep>ation f s]vice & cool+-,(f p]iod requir$ = control ,dur+ ! p]iod beg9n+ on ! date on :i* an individual becomes a ,memb] ( ,congress & end+ on ! date t is #ahj days aft] ! date on :i* ! individual ceases to s]ve z a ,memb] ( ,congress1 ! ,memb] ( ,congress1 & any sp\se or dep5d5t *ild ( ! ,memb] ( ,congress1 may n-- 7#a7 dissolve any qualifi$ bl9d tru/ 9 :i* a cov]$ f9ancial in/rum5t has be5 plac$ pursuant to subsection 7a7 or 7b72 or 7#b7 except z provid$ 9 ?is section1 o!rwise control a cov]$ f9ancial in/rum5t4 7e7 ,report+ requirem5ts 7#a7 ,sup]vis+ e?ics (fices ,ea* sup]vis+ e?ics (fice %all make available on ! public website ( ! sup]vis+ e?ics (fice-- 7,a7 a copy (-- 7i7 ea* c]tification submitt$ to ! sup]vis+ e?ics (fice "u subsection 7a77#a7 or 7b77#a72 7ii7 ea* qualifi$ bl9d tru/ agreem5t ( ea* ,memb] ( ,congress2 & 7iii7 ea* notice & o!r docum5tation submitt$ to ! sup]vis+ e?ics (fice "u p>agraph 7#b7 or 7#c72 7,b7 a s*$ule ( all assets plac$ 9 a qualifi$ bl9d tru/ by ea* ,memb] ( ,congress & int]e/$ p>ty2 & 7,c7 a description ( ea* ext5sion grant$1 & ea* civil p5alty impos$1 pursuant to ?is section4 7#b7 ,tru/ees ,ea* tru/ee ( a qualifi$ bl9d tru/ e/abli%$ by a ,memb] ( ,congress %all submit to ! ,memb] ( ,congress & ! applicable sup]vis+ e?ics (fice a writt5 notice 9 any case 9 :i* ! tru/ee-- 7,a7 le>ns t-- 7i7 an int]e/$ p>ty has obta9$ k ( any tru/ prop]ty o!r ?an ! initial prop]ty ( ! qualifi$ bl9d tru/2 or 7ii7 ! value ( ! initial prop]ty ( ! qualifi$ bl9d tru/ is less ?an #a1jjj2 or 7,b7 dive/s any initial prop]ty ( ! qualifi$ bl9d tru/4 7#c7 ,memb]s ( ,congress ,ea* ,memb] ( ,congress :o is a b5efici>y ( a qualifi$ bl9d tru/ %all submit to ! applicable sup]vis+ e?ics (fice-- 7,a7 a copy ( ! execut$ qualifi$ bl9d tru/ agreem5t by n lat] ?an #cj days aft] ! date ( execution2 7,b7 a li/ ( ea* asset & ea* f9ancial int]e/ transf]r$ to ! qualifi$ bl9d tru/ by an int]e/$ p>ty by n lat] ?an #cj days aft] ! date ( ! transf]2 7,c7 a copy ( ea* notice submitt$ to ! ,memb] ( ,congress "u p>agraph 7#b7 by n lat] ?an #cj days aft] ! date ( receipt2 7,d7 a writt5 notice t an int]e/$ p>ty has obta9$ k ( any hold+ ( ! qualifi$ bl9d tru/ by n lat] ?an ! date t is #cj days aft] ! date on :i* ! ,memb] ( ,congress discov]$ t ! k _h be5 obta9$2 & 7,e7 a writt5 notice ( dissolution ( ! qualifi$ bl9d tru/ by n lat] ?an #cj days aft] ! date ( dissolution4 #acafd4 ,annual c]tification ( compliance ,n less frequ5tly ?an annually1 ea* ,memb] ( ,congress %all submit to ! applicable sup]vis+ e?ics committee a writt5 c]tification t ! ,memb] ( ,congress has a*iev$ compliance ) ! requirem5ts ( ?is sub*apt]4 #acafe4 ,en=cem5t 7a7 ,9 g5]al ,! applicable sup]vis+ e?ics (fice %all provide a writt5 notice 7includ+ notice ( ! pot5tial = civil p5alties "u subsection 7e77 to any ,memb] ( ,congress :o-- 7#a7 fails-- 7,a7 to submit a c]tification "u subsection 7a77#a7 or 7b77#a7 ( section #acafc by ! date on :i* ! c]tification is requir$ to be submitt$2 7,b7 to place #a or m cov]$ f9ancial in/rum5ts own$ by ! ,memb] ( ,congress or a sp\se or dep5d5t *ild ( ! ,memb] ( ,congress 9 a qualifi$ bl9d tru/ 9 accordance ) subsection 7a77#b7 or 7b77#b7 ( section #acafc by ! applicable deadl9e1 subject to any ext5sion "u subsection 7a77#c7 or 7b77#c7 ( t section2 or 7,c7 to submit an annual c]tification "u section #acafd2 or 7#b7 o!rwise violates ?is sub*apt]4 7b7 ,he>+ ,any ,memb] ( ,congress to :om a notice has be5 provid$ "u subsection 7a7 %all be af=d$ an opportunity1 ) respect to ea* alleg$ violation t is ! subject ( ! notice-- 7#a7 = a he>+2 & 7#b7 to a*ieve compliance ) ! requirem5ts ( ?is sub*apt]4 7c7 ,disgorgem5t ,a ,memb] ( ,congress %all disgorge to ! ,treasury ( ! ,unit$ ,/ates any pr(it f a transaction or hold+ involv+ a cov]$ f9ancial in/rum5t t is conduct$ 9 violation ( ?is sub*apt]4 7d7 ,f9es 7#a7 ,9 g5]al ,a sup]vis+ e?ics (fice %all impose a civil p5alty1 9 ! am\nt describ$ 9 p>agraph 7#b71 on a ,memb] ( ,congress to :om a notice is provid$ "u subsection 7a7-- 7,a7 on ! date t is #cj days aft] ! date ( provision ( ! notice2 & 7,b7 n less frequ5tly ?an once e #cj days !reaft]4 7#b7 ,am\nt ,! am\nt ( ea* civil p5alty impos$ on a ,memb] ( ,congress pursuant to p>agraph 7#a7 %all be equal to ! mon?ly equival5t ( ! annual rate ( pay payable to ! ,memb] ( ,congress4 #acaff4 ,au?ority ( sup]vis+ e?ics committees ,ea* sup]vis+ e?ics committee may implem5t & en=ce ! requirem5ts ( ?is sub*apt]1 includ+ by-- 7#a7 issu+-- 7,a7 = ,memb]s ( ,congress-- 7i7 rules gov]n+ t implem5tation & en=cem5t2 & 7ii7 #a or m reasonable ext5sions to a*ieve compliance ) ?is sub*apt]1 if ! applicable sup]vis+ e?ics committee det]m9es t a ,memb] ( ,congress is mak+ a good fai? ef=t to dive/ any cov]$ f9ancial in/rum5ts2 & 7,b7 guidance relat+ to cov]$ f9ancial in/rum5ts2 7#b7 publi%+ on a publicly available website a description (-- 7,a7 ) respect to ea* civil p5alty assess$ by ! sup]vis+ e?ics committee pursuant to section #acafe-- 7i7 ! am\nt ( su* civil p5alty2 7ii7 ! reasons :y ea* civil p5alty f9e 0 assess$2 & 7iii7 ! result ( ea* assessm5t1 includ+ any he>+ "u section #acafe7;b7 relat+ to ! assessm5t2 7,b7 ! in=mation describ$ 9 section #acafc7;f77#a72 & 7,c7 ea* notice1 rule1 & o!r docum5tation issu$ or receiv$ by ! sup]vis+ e?ics (fice "u ?is sub*apt]2 & 7#c7 e/abli% su* proc$ures & /&>d =ms z ! sup]vis+ e?ics (fice det]m9es to be appropriate to implem5t ?is sub*apt]4 #acafg4 ,audit by ,gov]nm5t ,acc\ntability ,(fice ,n lat] ?an #b ye>s aft] ! date ( enactm5t ( ! ,good ,gov]nm5t ,act ( #bjbe1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all-- 7#a7 conduct an audit ( ! compliance by ,memb]s ( ,congress ) ! requirem5ts ( ?is sub*apt]2 & 7#b7 submit to ! sup]vis+ e?ics committees a report describ+ ! results ( ! audit conduct$ "u p>agraph 7#a74 4 7b7 ,con=m+ am5dm5ts 7#a7 ,table ( sections ,! table ( sections = *apt] #aca ( title #e1 ,unit$ ,/ates ,code1 is am5d$ by add+ at ! end ! foll[+3 ,,sub*apt] ,,iv--,cov]$ f9ancial in/rum5ts ( ,memb]s ( ,congress & _! sp\ses & dep5d5t *ildr5#acafa4 ,def9itions4#acafb4 ,prohibition on c]ta9 transactions & hold+s involv+ cov]$ f9ancial in/rum5ts4#acafc4 ,dive/m5t & placem5t ( cov]$ f9ancial in/rum5ts 9 qualifi$ bl9d tru/s4#acafd4 ,annual c]tification ( compliance4#acafe4 ,en=cem5t4#acaff4 ,au?ority ( sup]vis+ e?ics committees4#acafg4 ,audit by ,gov]nm5t ,acc\ntability ,(fice4 4 7#b7 ,p]sons requir$ to file ,section #acajc7;f7 ( title #e1 ,unit$ ,/ates ,code1 is am5d$-- 7,a7 9 p>agraph 7#i71 by /rik+ z def9$ 9 section #acaja ( ?is title2 7,b7 9 p>agraph 7#aj71 by /rik+ z def9$ 9 section #acaja ( ?is title2 7,c7 9 p>agraph 7#aa71 by /rik+ z def9$ 9 section #acaja ( ?is title2 & 7,d7 9 p>agraph 7#ab71 by /rik+ z def9$ 9 section #acaja ( ?is title4 7#c7 ,lobby+ ,disclosure ,act ( #aiie ,section #c7d77;,d7 ( ! ,lobby+ ,disclosure ,act ( #aiie 7#b ,u4,s4,c4 #afjb7d77;,d77 is am5d$ by /rik+ legislative bran* employee s]v+ 9 a position describ$ "u section #acaja7ac7 ( title #e1 ,unit$ ,/ates ,code & ins]t+ (fic] or employee ( ,congress 7z def9$ 9 section #acaja ( title #e1 ,unit$ ,/ates ,code74