Transparent Representation Upholding Service and Trust in Congress Act or the TRUST in Congress Act
This bill requires a Member of Congress, as well as any spouse or dependent child of a Member, to place specified investments into a qualified blind trust (i.e., an arrangement in which certain financial holdings are placed in someone else's control to avoid a possible conflict of interest) until 180 days after the end of their tenure as a Member of Congress.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 396 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 396
To require Members of Congress and their spouses and dependent children
to place certain assets into blind trusts, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 14, 2025
Mr. Magaziner (for himself, Mr. Roy, Ms. Adams, Mr. Beyer, Mr. Casar,
Mr. Ciscomani, Mr. Cleaver, Ms. Craig, Mr. Crane, Mr. Crow, Ms. Davids
of Kansas, Ms. DelBene, Mr. Deluzio, Mr. Garcia of California, Mr.
Golden of Maine, Mr. Gottheimer, Ms. Houlahan, Mr. Huffman, Mr. Johnson
of South Dakota, Mr. Keating, Mrs. Kim, Mr. Landsman, Mr. Lawler, Ms.
Leger Fernandez, Mr. Levin, Ms. Mace, Ms. McCollum, Mr. Mrvan, Mr.
Murphy, Mr. Nadler, Mr. Neguse, Ms. Norton, Ms. Perez, Mr. Perry, Ms.
Pettersen, Mr. Pocan, Ms. Salinas, Ms. Sherrill, Mr. Sorensen, Mr.
Stanton, Ms. Stevens, Ms. Titus, Mr. Tonko, Mr. Vasquez, Ms. Williams
of Georgia, Mr. Mackenzie, and Mr. Pappas) introduced the following
bill; which was referred to the Committee on House Administration
_______________________________________________________________________
A BILL
To require Members of Congress and their spouses and dependent children
to place certain assets into blind trusts, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Transparent Representation Upholding
Service and Trust in Congress Act'' or the ``TRUST in Congress Act''.
SEC. 2. PLACEMENT OF CERTAIN ASSETS OF MEMBERS OF CONGRESS AND THEIR
SPOUSES AND DEPENDENT CHILDREN IN BLIND TRUST.
(a) In General.--
(1) Members occupying office on date of enactment.--Not
later than 180 days after the date of enactment of this Act, a
Member of Congress and any spouse or dependent child of such
Member shall place any covered investment owned by such Member,
spouse, or dependent child into a qualified blind trust.
(2) Members assuming office after date of enactment.--Not
later than 90 days after the date an individual becomes a
Member of Congress after the date of enactment of this Act,
such individual and any spouse or dependent child of such
individual shall place any covered investment owned by such
individual, spouse, or dependent child into a qualified blind
trust.
(3) 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 such Member under
paragraph (1) or (2).
(4) Assets upon separation.--A Member of Congress and any
spouse or dependent child of such Member may not dissolve any
qualified blind trust in which a covered investment has been
placed pursuant to paragraph (1) or (2), or otherwise control
such an investment, until the date that is 180 days after the
date such Member ceases to be a Member of Congress.
(b) Accountability.--
(1) Members of the house.--A Member of Congress who is a
Member of the House of Representatives shall--
(A) not later than 15 days after the date a
qualified blind trust is established under subsection
(a), certify to the Clerk of the House of
Representatives that such trust has been established
and that any covered investment owned by such Member or
a spouse or dependent child of such Member has been
placed in such trust; or
(B) certify to the Clerk that such Member or a
spouse or dependent child of such Member does not own
any covered investment.
(2) Members of the senate.--A Member of Congress who is a
Senator shall--
(A) not later than 15 days after the date a
qualified blind trust is established under subsection
(a), certify to the Secretary of the Senate that such
trust has been established and that any covered
investment owned by such Member or a spouse or
dependent child of such Member has been placed in such
trust; or
(B) certify to the Secretary that such Member or a
spouse or dependent child of such Member does not own
any covered investment.
(3) Report.--The Clerk of the House of Representatives and
the Secretary of the Senate shall make available on the public
website of the Clerk and the Secretary, respectively, any
certification made under paragraph (1) or (2).
(c) Exception.--A spouse or dependent child who receives
compensation from their primary occupation through any covered
investment shall not be required to place such covered investment in a
qualified blind trust under this Act.
(d) Definitions.--In this Act:
(1) Commodity.--The term ``commodity'' has the meaning
given the term in section 1a of the Commodity Exchange Act (7
U.S.C. 1a).
(2) Covered investment.--The term ``covered investment''--
(A) means investment in a security, a commodity, or
a future, or any comparable economic interest acquired
through synthetic means such as the use of a
derivative; and
(B) does not include--
(i) a widely held investment fund described
in section 13104(f)(8) of title 5, United
States Code; or
(ii) a United States Treasury bill, note,
or bond.
(3) Dependent child.--The term ``dependent child'' has the
meaning given that term in section 13101 of title 5, United
States Code.
(4) Member of congress.--The term ``Member of Congress''
has the meaning given that term in such section 13101.
(5) Qualified blind trust.--The term ``qualified blind
trust'' has the meaning given that term in section 13104(f)(3)
of such title.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on House Administration.
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