This bill prohibits Members of Congress and their spouses and dependent children from owning stocks, commodities, and similar investments. Instead, they must place these assets into blind trusts—accounts managed by an independent trustee who makes investment decisions without the Member's knowledge or input—or sell them entirely. The bill applies immediately to current Members (with 120 days to comply) and to new Members when they take office. Members cannot acquire new covered investments while in office, though they have 120 days to handle inherited assets similarly. The legislation includes a 180-day "cooling-off period" after leaving office during which former Members cannot access these trusts. Violators face monthly civil penalties equal to their congressional salary until they comply. The bill exempts diversified mutual funds, Treasury securities, government employee retirement plans, and spouse or dependent compensation from their primary jobs, and it requires ethics offices to publicly report all compliance documents and trust details.
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