‘‘(1) IN GENERAL.—Subject to paragraph (2), 
and any applicable rules issued pursuant to sub-
section (h)(3), effective beginning on the date of en-
actment of the Ending Trading and Holdings in 
Congressional Stocks (ETHICS) Act, no covered 
person may acquire any covered investment. 
‘‘(2) INHERITANCES.— 
‘‘(A) IN
GENERAL.—Subject to subpara-
graph (B), a covered person who inherits a cov-
ered investment shall come into compliance as 
required under subsection (a) by not later than 
120 days after the date on which the covered 
investment is inherited. 
‘‘(B) EXTENSIONS.—If a covered person is 
unable to meet the requirements of subpara-
graph (A), the applicable Member of Congress 
may request, and the supervising ethics office 
may grant, 1 or more reasonable extensions, 
subject to the conditions that— 
‘‘(i) the total period of time covered 
by all extensions granted for the covered 
investment shall not exceed 150 days; and 
‘‘(ii) the period covered by a single ex-
tension shall be not longer than 45 days. 
‘‘(c) FAMILY TRUSTS.— 
VerDate Sep 11 2014 
03:58 Aug 07, 2025
Jkt 059200
PO 00000
Frm 00020
Fmt 6652
Sfmt 6201
E:\BILLS\H4890.IH
H4890
kjohnson on DSK7ZCZBW3PROD with $$_JOB
‘‘(1) IN GENERAL.—A supervising ethics office 
may grant an exemption for a family trust only if— 
‘‘(A) no covered person— 
‘‘(i) is a grantor of the family trust; 
‘‘(ii) contributed any asset to the fam-
ily trust; or 
‘‘(iii) has any authority over a trustee 
of the family trust, including the authority 
to appoint, replace, or direct the actions of 
such a trustee; and 
‘‘(B) the grantor of the family trust is or 
was a family member of the covered person. 
‘‘(2) REQUESTS.—A covered person seeking an 
exemption under paragraph (1) shall submit to the 
applicable supervising ethics office a request for the 
exemption, in writing, certifying that the conditions 
described in that paragraph are met. 
‘‘(3) PUBLICATION.—A supervising ethics office 
shall publish on the public website of the supervising 
ethics office— 
‘‘(A) a copy of each request submitted 
under paragraph (2); and 
‘‘(B) the written response of the super-
vising ethics office to each request described in 
subparagraph (A). 
VerDate Sep 11 2014 
03:58 Aug 07, 2025
Jkt 059200
PO 00000
Frm 00021
Fmt 6652
Sfmt 6201
E:\BILLS\H4890.IH
H4890
kjohnson on DSK7ZCZBW3PROD with $$_JOB
‘‘(d) MINGLING OF ASSETS.—A spouse or dependent 
child of a Member of Congress may place a covered invest-
ment in a qualified blind trust established by the Member 
of Congress under subsection (a)(1)(A)(ii). 
‘‘(e) SEPARATION FROM SERVICE AND COOLING-OFF 
PERIOD REQUIRED FOR CONTROL.—During the period 
beginning on the date on which an individual becomes a 
Member of Congress and ending on the date that is 90 
days after the date on which the individual ceases to serve 
as a Member of Congress, the Member of Congress, and 
any spouse or dependent child of the Member of Congress, 
may not— 
‘‘(1) dissolve any qualified blind trust in which 
a covered investment has been placed pursuant to 
subsection (a)(2); or 
‘‘(2) except as provided in this section, other-
wise control a covered investment, including pur-
chasing new covered investments. 
‘‘(f) REPORTING REQUIREMENTS.— 
‘‘(1) SUPERVISING ETHICS OFFICES.—Each su-
pervising ethics office shall make available on the 
public website of the supervising ethics office— 
‘‘(A) a copy of— 
VerDate Sep 11 2014 
03:58 Aug 07, 2025
Jkt 059200
PO 00000
Frm 00022
Fmt 6652
Sfmt 6201
E:\BILLS\H4890.IH
H4890
kjohnson on DSK7ZCZBW3PROD with $$_JOB
‘‘(i) each certification submitted to 
the supervising ethics office under sub-
section (a)(1); 
‘‘(ii) each qualified blind trust agree-
ment of each covered person; 
‘‘(iii) each notice and other docu-
mentation submitted to the supervising 
ethics office under this section; and 
‘‘(iv) each notice, ruling, and other 
documentation issued or received by the 
supervising ethics office under subsection 
(c); 
‘‘(B) a schedule of all assets placed in a 
qualified blind trust by each covered person and 
interested party; and 
‘‘(C) a description of each extension grant-
ed, and each civil penalty imposed, pursuant to 
this section. 
‘‘(2) TRUSTEES.—Each trustee of a qualified 
blind trust established by a covered person shall sub-
mit to the covered person and the applicable super-
vising ethics office a written notice in any case in 
which the trustee learns that an interested party has 
obtained knowledge of any trust property other than 
the initial property of the qualified blind trust. 
VerDate Sep 11 2014 
03:58 Aug 07, 2025
Jkt 059200
PO 00000
Frm 00023
Fmt 6652
Sfmt 6201
E:\BILLS\H4890.IH
H4890
kjohnson on DSK7ZCZBW3PROD with $$_JOB
‘‘(3) MEMBER OF CONGRESS.—Each Member of 
Congress who is a beneficiary of a qualified blind 
trust shall submit to the applicable supervising eth-
ics office— 
‘‘(A) a copy of the executed qualified blind 
trust agreement by not later than 30 days after 
the date of execution; 
‘‘(B) a list of each asset and each financial 
interest transferred to the qualified blind trust 
by an interested party by not later than 30 
days after the date of the transfer; 
‘‘(C) a copy of each notice submitted to the 
Member of Congress under paragraph (2) by 
not later than 30 days after the date of receipt; 
‘‘(D) a written notice that an interested 
party has obtained knowledge of any holding of 
the qualified blind trust by not later than the 
date that is 30 days after the date on which the 
Member of Congress discovered that the knowl-
edge had been obtained; and 
‘‘(E) a written notice of dissolution of the 
qualified blind trust by not later than 30 days 
after the date of dissolution. 
‘‘(4) FEDERAL BENEFITS.— 
VerDate Sep 11 2014 
03:58 Aug 07, 2025
Jkt 059200
PO 00000
Frm 00024
Fmt 6652
Sfmt 6201
E:\BILLS\H4890.IH
H4890
kjohnson on DSK7ZCZBW3PROD with $$_JOB
‘‘(A) COVERED PAYMENT.—In this para-
graph, the term ‘covered payment’— 
‘‘(i) means a payment of money or 
any other item of value made, or promised 
to be made, by the Federal Government; 
‘‘(ii) includes— 
‘‘(I) a loan agreement, contract, 
or grant made, or promised to be 
made, by the Federal Government, in-
cluding such an agreement, contract, 
or grant relating to agricultural activ-
ity; and 
‘‘(II) such other types of pay-
ment of money or items of value as 
the supervising ethics office, may es-
tablish, by guidance; and 
‘‘(iii) does not include— 
‘‘(I) any salary or compensation 
for service performed as, or reim-
bursement of personal outlay by, an 
officer or employee of the Federal 
Government; or 
‘‘(II) any tax refund (including a 
refundable tax credit). 
VerDate Sep 11 2014 
03:58 Aug 07, 2025
Jkt 059200
PO 00000
Frm 00025
Fmt 6652
Sfmt 6201
E:\BILLS\H4890.IH
H4890
kjohnson on DSK7ZCZBW3PROD with $$_JOB