HR 6678
Bipartisan Ban on Congressional Stock Ownership Act of 2022
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- Passed House
- Passed Senate
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Bill overview
This bill, the Bipartisan Ban on Congressional Stock Ownership Act of 2022, aims to prevent members of Congress and their spouses from owning or trading stocks, bonds, and other securities. It requires current members to divest within 180 days and new members within 180 days of joining, with a five-year grace period for certain complex investments. The bill includes exceptions for widely held investment funds meeting specific criteria, government retirement plans, and certain Alaska Native Settlement Act stock. Violations can result in fines, and the legislation also provides a tax benefit for members who divest their assets.
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Primary sponsor
Cosponsors
Eleanor Holmes [D-DC-At Large] Norton
Grace F. Napolitano
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