I 
119TH CONGRESS 
1ST SESSION H. R. 1908 
To prohibit stock trading and ownership by Members of Congress and their 
spouses and dependent children, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 6, 2025 
Mr. BURCHETT introduced the following bill; which was referred to the Com-
mittee on Financial Services, and in addition to the Committees on Agri-
culture, House Administration, and 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 con-
cerned 
A BILL 
To prohibit stock trading and ownership by Members of 
Congress and their spouses and dependent children, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘End Congressional 
Stock Trading Act’’. 
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SEC. 2. BAR ON STOCK TRADING AND OWNERSHIP BY MEM-
BERS OF CONGRESS AND THEIR SPOUSES 
AND DEPENDENT CHILDREN. 
(a) DEFINITIONS.—In this section: 
(1) COMMODITY.—The term ‘‘commodity’’ has 
the meaning given that term in section 1a of the 
Commodity Exchange Act (7 U.S.C. 1a). 
(2) DEPENDENT CHILD.—The term ‘‘dependent 
child’’ has the meaning given that term in section 
13101 of title 5, United States Code. 
(3) DIVERSIFIED.—The term ‘‘diversified’’, 
with respect to an investment fund, means that the 
investment fund does not have a stated policy of 
overly concentrating its investments. 
(4) MEMBER OF CONGRESS.—The term ‘‘Mem-
ber of Congress’’ has the meaning given that term 
in section 13101 of title 5, United States Code. 
(5) SECURITY.—The term ‘‘security’’ has the 
meaning given that term in section 3(a) of Securities 
Exchange Act of 1934 (15 U.S.C. 78c(a)). 
(6) SMALL
BUSINESS
CONCERN.—The term 
‘‘small business concern’’ has the meaning given 
that term under section 3 of the Small Business Act 
(15 U.S.C. 632). 
(7) WIDELY
HELD
INVESTMENT
FUND.—The 
term ‘‘widely held investment fund’’ means a widely 
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held investment fund described in 13104(f)(8) of 
title 5, United States Code. 
(b) DIVESTMENT.— 
(1) IN GENERAL.—A Member of Congress or a 
spouse or dependent child of a Member of Congress 
may not own an interest in or trade (except as a di-
vestment) any stock, bond, commodity, future, or 
other form of security, including an interest in a 
hedge fund, a derivative, option, or other complex in-
vestment vehicle. 
(2) IMPLEMENTATION.— 
(A) CURRENT MEMBERS.— 
(i) IN GENERAL.—Except as provided 
in clause (ii), an individual who is a Mem-
ber of Congress or a spouse or dependent 
child of a Member of Congress on the date 
of enactment of this Act shall complete the 
divestment of any asset described in para-
graph (1) by not later than 180 days after 
the date of enactment of this Act. 
(ii) CERTAIN ASSETS.—For an asset 
described in paragraph (1) that is an inter-
est in a hedge fund, venture capital fund, 
or other privately held complex investment 
vehicle, an individual who is a Member of 
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date of enactment of this Act shall com-
plete the divestment of the asset by not 
later than 5 years after the date on which 
the individual becomes a Member of Con-
gress or a spouse or dependent child of a 
Member of Congress. 
(C) DIVESTMENT
OF
ASSETS
RECEIVED 
WHILE A MEMBER.—An individual serving as a 
Member of Congress or a spouse or dependent 
child of an individual serving as a Member of 
Congress who receives any asset described in 
paragraph (1) during the period of such service, 
such as from an inheritance, shall complete the 
divestment of the asset by not later than 180 
days after the date on which the individual re-
ceives the asset. 
(c) EXCEPTIONS.—Nothing in this section shall be 
construed to prevent— 
(1) a Member of Congress or a spouse or de-
pendent child of a Member of Congress from owning 
or trading— 
(A) a widely held investment fund, if the 
widely held investment fund— 
(i) does not present a conflict of inter-
est; and 
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(ii) is diversified; 
(B) shares of Settlement Common Stock 
issued under section 7(g)(1)(A) of the Alaska 
Native Claims Settlement Act (43 U.S.C. 
1606(g)(1)(A)); 
(C) shares of Settlement Common Stock, 
as defined in section 3 of the Alaska Native 
Claims Settlement Act (43 U.S.C. 1602); 
(D) a United States Treasury bill, note, or 
bond; 
(E) an investment fund held in a Federal, 
State, or local government employee retirement 
plan; 
(F) an interest in a small business con-
cern, if the small business concern does not 
present a conflict of interest; or 
(G) any asset described in subsection 
(b)(1) received as compensation from the pri-
mary occupation of the spouse; or 
(2) a spouse or dependent child of a Member of 
Congress from trading any asset described in sub-
section (b)(1) that is not owned by the spouse or 
Member of Congress in the course of performing the 
primary occupation of the spouse. 
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(d) CIVIL FINES.—The Attorney General or the Spe-
cial Counsel may bring a civil action in the appropriate 
United States district court against any Member of Con-
gress or spouse or dependent child of a Member of Con-
gress who engages in conduct constituting a violation of 
this section and, upon proof of such conduct by a prepon-
derance of the evidence, such Member of Congress or 
spouse or dependent child of such Member of Congress 
shall be subject to a civil penalty of not more than 
$100,000 for each violation. The imposition of a civil pen-
alty under this subsection does not preclude any other 
criminal or civil statutory, common law, or administrative 
remedy, which is available by law to the United States or 
any other person. 
(e) NONRECOGNITION OF GAIN.— 
(1) IN
GENERAL.—Paragraph (1) of section 
1043(b) of the Internal Revenue Code of 1986 is 
amended— 
(A) by striking ‘‘and’’ at the end of sub-
paragraph (A); 
(B) by redesignating subparagraph (B) as 
subparagraph (C); 
(C) by inserting after subparagraph (A) 
the following new subparagraph: 
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‘‘(B) any Member of Congress or any 
spouse or dependent child of a Member of Con-
gress, but only with respect to a divestment of 
property required by the End Congressional 
Stock Trading Act and only if, not later than 
60 days after the divestment of such property, 
the individual uses the proceeds of the divest-
ment to obtain property which the individual is 
authorized to own or trade under section 
2(c)(1) of such Act, and’’; and 
(D) by striking ‘‘subparagraph (A)’’ in 
subparagraph (C), as so redesignated, and in-
serting ‘‘subparagraph (A) or (B), whichever is 
applicable’’. 
(2) CERTIFICATE OF DIVESTITURE.—Subpara-
graph (B) of section 1043(b)(2) of such Code is 
amended— 
(A) by striking ‘‘or by’’ and inserting 
‘‘by’’; and 
(B) by inserting ‘‘, or by the applicable 
congressional ethics committee, as defined in 
section 13101 of title 5, United States Code, in 
the case of Members of Congress and spouses 
and dependent children of Members of Con-
gress,’’ after ‘‘judicial officers’’. 
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(3) NO
EFFECT
ON
SUBSEQUENT
SALE
OF 
PROPERTY.—Nothing in the amendments made by 
this subsection shall be construed to provide for the 
nonrecognition of gain with respect to the sale of 
property obtained by a Member of Congress or any 
spouse or dependent child of a Member of Congress 
with the proceeds of a divestment required by this 
Act, as described in section 1043(b)(1)(B) of the In-
ternal Revenue Code of 1986 (as added by this sub-
section). 
(4) EFFECTIVE DATE.—The amendments made 
by this subsection shall apply to sales of property 
after the date of the enactment of this Act. 
(f) INTERPRETIVE GUIDANCE.—The Select Com-
mittee on Ethics of the Senate and the Committee on Eth-
ics of the House of Representatives shall issue interpretive 
guidance regarding relevant terms not defined in this Act 
or elsewhere in statute. 
Æ 
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