No Conflict of Interest Presidency Act of 2017

Bill: 115-hr-3532
Sponsor: full_name: Rep. Evans, Dwight [D-PA-2]
Introduced: 2017-07-28
Policy area: Government Operations and Politics
Subjects: Business investment and capital

Congressional-executive branch relations

Criminal investigation, prosecution, interrogation

Financial services and investments

Government ethics and transparency, public corruption

Presidents and presidential powers, Vice Presidents

Real estate business

Securities
Latest action: action_date: 2017-07-28
text: Referred to the House Committee on Oversight and Government Reform.

Summaries:
action_date: 2017-07-28
action_desc: Introduced in House
text: <p><strong>No Conflict of Interest Presidency Act of 2017</strong></p> <p>This bill requires the President: (1) immediately after assuming office, to convert any private businesses and investments owned or held by the President into cash; and (2) upon making such conversion, to purchase Treasury bills, notes, or bonds, widely diversified mutual funds, or any other holding that does not give rise to a financial conflict of interest. </p> <p> A violation of this bill shall constitute a high crime and misdemeanor under the U.S. Constitution.</p>

tv_txt: I 115th CONGRESS 1st Session H. R. 3532 IN THE HOUSE OF REPRESENTATIVES July 28, 2017 Mr. Evans (for himself and Mr. McGovern ) introduced the following bill; which was referred to the Committee on Oversight and Government Reform A BILL To require the President to convert private businesses and investments in order to prevent conflicts of interest under Federal law, and for other purposes.

1. Short title This Act may be cited as the No Conflict of Interest Presidency Act of 2017 . 2. Conversion of President’s assets to avoid conflict of interest (a) In general In order to ensure that no financial conflict of interest exists, immediately after assuming office the President, acting in the interests of the American people, shall convert any private businesses and investments owned or held by the President into cash. (b) Permissible assets Upon converting such private businesses and investments pursuant to subsection (a), the President shall purchase Treasury bills, notes, or bonds, widely diversified mutual funds, or any other holding that does not give rise to a financial conflict of interest. (c) Application The requirements of this section shall no longer apply after the date on which the President leaves office. (d) Definition of private businesses and investments In this section, the term private businesses and investments includes the following entities owned or held, either whole or in part, by the President: (1) Real estate properties and ventures, including— (A) golf courses; (B) hotels; (C) resorts and spas; or (D) casinos. (2) For-profit education systems. (3) Modeling management agencies, including production companies of beauty pageants. (4) Reality television and network affiliations. (5) Retail and consumer products. (6) Any other private businesses or investments listed in the President’s financial disclosure reports, including any report under the Ethics in Government Act of 1978. 3. Violations A violation of this Act shall constitute a high crime and misdemeanor for the purposes of article II, section 4 of the Constitution of the United States.