118th Congress Congress
H.R. 1138: Prohibit Insider Trading Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill prohibits Members of Congress (or their spouses) from holding or trading certain investments (e.g., individual stocks and related financial instruments other than diversified investment funds, investments in the federal retirement savings plan, or U.S. Treasury securities).
Generally, the prohibition applies seven days after the first day of a Member's initial term, though for current Members, it applies on the first day of the second session of the 118th Congress. Additionally, the prohibition does not apply to assets held in a qualified blind trust.
Any profit stemming from a prohibited holding or transaction must be disgorged to the Treasury and may subject the Member to a civil fine. Additionally, a loss stemming from a prohibited holding or transaction may not be used as an income tax deduction.
Read the full summary
Each Member must submit an annual certification of compliance to the supervising ethics office. The office must publish each certification on a public website and periodically audit Members' compliance with the bill's provisions.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Greg Stanton D-AZOriginal
- Jeffrey Jackson D-NC
- Marie Gluesenkamp Perez D-WA
- Nicholas Langworthy R-NY
- Michael Lawler R-NY
Who scored on this bill
- 1Zachary (Zach) Nunn SponsorDrew cross-party cosponsors, introduced2 events+6
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Zachary (Zach) Nunn
History
- Introduced in the House by Zachary (Zach) Nunn.
Show the full action history (2 actions)
- Introduced in House
- Referred to the Committee on House Administration, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.