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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7008 Introduced in House (IH)]
<DOC>
119th CONGRESS
2d Session
H. R. 7008
To amend chapter 131 of title 5 to require certain restrictions on
stocks for Members of Congress and their spouses and dependents, and
for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 12, 2026
Mr. Steil (for himself, Mr. Hudson, Mr. Griffith, Mr. Murphy, Mrs.
Bice, Mr. Carey, Mrs. Miller of Illinois, Ms. Lee of Florida, Mr. Biggs
of Arizona, Mr. Ogles, Mrs. Luna, Mr. Roy, Mr. Taylor, Mr. Van Orden,
Mr. Bacon, Mr. Johnson of South Dakota, Mr. Hurd of Colorado, Mr. Joyce
of Pennsylvania, Mr. Collins, Mr. Lawler, Mr. Baumgartner, Mr. Cloud,
Mr. Feenstra, Mr. Scott Franklin of Florida, Mr. Mann, Mr. Buchanan,
Mr. Timmons, Mrs. Kim, Mr. Nunn of Iowa, Mr. Cline, Mr. Crenshaw, Mr.
Harris of Maryland, Mr. Arrington, Mr. Alford, Mr. Yakym, Mr. Kennedy
of Utah, Mrs. Miller-Meeks, Mr. James, Mr. Mills, Mrs. Cammack, Mr.
Barrett, Mr. Carter of Georgia, Mr. LaLota, Mr. Mackenzie, Mr. Schmidt,
Mrs. Fedorchak, Mrs. Kiggans of Virginia, Mrs. Hinson, Mr. Rutherford,
Mr. Smith of New Jersey, Mr. Ciscomani, Mr. Kiley of California, Mr.
Patronis, Mrs. Houchin, Mr. Riley of New York, Mr. Harrigan, Mr.
Moolenaar, Mr. Perry, Mr. Bean of Florida, Mr. Flood, Mr. Self, Mr.
Bresnahan, Mr. Huizenga, Mr. Bergman, Mr. Messmer, Mr. Tiffany, Mr.
Grothman, Mr. Fitzgerald, Mr. Smucker, Mr. Strong, Mr. Miller of Ohio,
Mr. McDowell, and Mrs. Wagner) introduced the following bill; which was
referred to the Committee on House Administration
_______________________________________________________________________
A BILL
To amend chapter 131 of title 5 to require certain restrictions on
stocks for Members of Congress and their spouses and dependents, 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 ``Stop Insider Trading Act''.
SEC. 2. RESTRICTIONS ON COVERED INVESTMENTS.
(a) Table of Contents.--The table of contents for chapter 131 of
title 5, United States Code, is amended by adding at the end the
following:
subchapter iv. restrictions on covered investments
13151. Definitions.
13152. Restrictions on covered investments.
13153. Penalties.
(b) Restrictions.--Chapter 131 of title 5, United States Code, is
amended by adding at the end a new subchapter:
``SUBCHAPTER IV--RESTRICTIONS ON COVERED INVESTMENTS
``Sec. 13151. Definitions
``In this subchapter:
``(1) Covered individual.--The term `covered individual'
means any of the following:
``(A) A Member of Congress, as defined in section
13101.
``(B) A dependent child (as defined in section
13101) or a spouse of a Member of Congress.
``(2) Covered investment.--
``(A) In general.--The term `covered investment'--
``(i) means a security issued by a publicly
traded company or any comparable economic
interest acquired through synthetic means, such
as the use of a derivative, including an
option, warrant, or other similar means; and
``(B) Exclusion.--The term `covered investment'
does not include--
``(i) an excepted investment fund (as
described in section 13104(f)(8));
``(ii) any other fund that would be an
excepted investment fund but for the fact that
the fund does not meet the diversification
requirement solely because the fund is
concentrated in--
``(I) the United States; or
``(II) the State, territory, or
District of residence of the covered
individual who owns the fund;
``(iii) an interest in a small business
concern as defined under section 3 of the Small
Business Act (15 U.S.C. 632); or
``(iv) investments held in a trust if no
covered individual has any authority over a
trustee of the trust, including the authority
to appoint, replace, or direct the actions of
such a trustee, and the trustee is not the
spouse, child, parent, or sibling of a Member
of Congress.
``(3) Publicly traded company.--The term `publicly traded
company' means an issuer that has a class of securities
registered under section 12 of the Securities Exchange Act of
1934 (15 U.S.C. 78l).
``(4) Security.--The term `security' has the meaning given
the term in section 3(a) of the Securities Exchange Act of 1934
(15 U.S.C. 78c(a)).
``(5) Supervising ethics office.--The term `supervising
ethics office' has the meaning given the term in section 13101.
``Sec. 13152. Restrictions on covered investments
``(a) Conduct During Federal Service.--Except as described in
subsection (c), no covered individual may purchase a covered
investment.
``(b) Advanced Notice Requirement.--
``(1) In general.--No covered individual shall sell a
covered investment, unless a notice of intent to sell the
covered investment is made by the Member of Congress and
publicly disclosed at least 7 calendar days, and no more than
14 calendar days, prior to the sale in accordance with the
requirements of this subsection.
``(2) Contents of notice.--The notice under paragraph (1)
shall include the following:
``(A) The projected date of sale of a covered
investment.
``(B) A description of such sale.
``(C) The number of shares in such sale.
``(3) Withdrawal.--The notice under paragraph (1) shall be
withdrawn by the Member of Congress who filed it, prior to the
close of the expiration of the notice, if the covered
individual determines not to sell the covered asset.
``(4) Filing.--A Member of Congress shall file the notice
under paragraph (1) for each intended sale by the Member, or
the spouse or dependent child of the Member, with--
``(A) the Clerk of the House of Representatives, in
the case of a Representative in Congress, a Delegate to
Congress, or the Resident Commissioner from Puerto
Rico; or
``(B) the Secretary of the Senate, in the case of a
Senator.
``(5) Publication.--The notice under paragraph (1) and the
withdrawal under paragraph (3) shall, upon receipt, be made
publicly available on a website controlled by the by the Clerk
of the House of Representatives or the Secretary of the Senate,
as applicable.
``(c) Exceptions.--
``(1) Occupation.--The requirements of subsections (a) and
(b) shall not apply to a spouse or dependent child of a Member
of Congress with respect to a transaction in a covered
investment which is--
``(A) on behalf, or for the benefit, of any person
other than a covered individual; or
``(B) made as a part of compensation from an
employer of such individual or in furtherance of any
fiduciary or occupational obligations of such
individual.
``(2) Other.--The requirements of subsection (a) shall not
apply to a covered individual with respect to a transaction in
a covered investment made for the purpose of reinvesting
dividends received from such covered investment.
``Sec. 13153. Enforcement
``(a) In General.--Any covered individual who violates the
restrictions in section 13152 with respect to a covered investment,
shall, at the direction of the supervising ethics office--
``(1) incur a fee, as calculated in subsection (b), to be
paid by the Member of Congress who--
``(A) caused the violation; or
``(B) is the spouse or parent of a covered
individual who caused the violation; and
``(2) in the case of a purchase of a covered investment, be
required to sell a covered investment purchased in violation of
section 13152(a).
``(b) Calculation of Fees.--The fee required under subsection (a)
shall be equal to the sum of--
``(1) $2,000 or ten percent of the value of the transaction
in the covered investment which violates section 13152,
whichever is greater; and
``(2) the net gain realized, if any, from the covered
investment during the period beginning on the most recent date
on which the individual became a covered individual and ending
on the date of disposition of the covered investment, as
determined by the supervising ethics office.
``(c) Payment Restrictions.--A Member of Congress may not pay any
of the fees under this section by using amounts from the following
sources:
``(1) The Members' Representational Allowance.
``(2) The Senators' Official Personnel and Office Expense
Account.
``(3) Any contribution (as defined in section 301(8) of the
Federal Election Campaign Act of 1971 (52 U.S.C. 30101(8)))
accepted as a candidate, and any other donation received as
support for activities of the individual as a holder of Federal
office.
``(d) Miscellaneous Receipts.--Any amounts collected in fees
authorized by this section shall be deposited in the general fund of
the Treasury as miscellaneous receipts in accordance with section
3302(b) of title 31.
``(e) Referral.--Upon the assessment of a fee under this section,
the supervising ethics office has the authority to refer a Member of
Congress to the Department of Justice in the same manner and to the
same extent as a violation under section 13106 if such Member of
Congress resigns or retires before paying such assessed fee.
``(f) Interpretative Guidance.--Each supervising ethics office may
issue interpretative guidance on this subchapter and in issuing such
guidance, may consider mitigating or aggravating circumstances.''.
(c) Effective Date.--The amendments made by this Act shall take
effect on the date that is 180 days after the date of enactment of this
Act.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on House Administration.
Committee Consideration and Mark-up Session Held
Ordered to be Reported (Amended) by the Yeas and Nays: 7 - 4.
Reported (Amended) by the Committee on House Administration. H. Rept. 119-479.
Reported (Amended) by the Committee on House Administration. H. Rept. 119-479.
Placed on the Union Calendar, Calendar No. 409.
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