Amending the Rules of the House of Representatives to prohibit with limited exceptions the participation of any Member, Delegate, Resident Commissioner, officer, or employee of the House on the board of any publicly held or publicly regulated corporation, financial institution, or business entity.

Bill: 115-hres-1043
Sponsor: full_name: Rep. Rice, Kathleen M. [D-NY-4]
Introduced: 2018-08-21
Policy area: Congress
Subjects: Congressional officers and employees

Corporate finance and management

Government ethics and transparency, public corruption
Latest action: action_date: 2018-08-21
text: Referred to the House Committee on Rules.

Summaries:
action_date: 2018-08-21
action_desc: Introduced in House
text: <p>Amends Rule XXV (Limitations on Outside Earned Income and Acceptance of Gifts) of the Rules of the House of Representatives to prohibit a Member, Delegate, Resident Commissioner, officer, or employee of the House from serving as an officer or member of the board of any publicly held or publicly regulated corporation, financial institution, or business entity.</p> <p>Specifies that this prohibition shall not apply, however, to uncompensated service as an officer or member of the board of an organization that is either tax-exempt or principally available to Members or employees of the House.</p>  </p>

tv_txt: IV 115th CONGRESS 2d Session H. RES. 1043 IN THE HOUSE OF REPRESENTATIVES August 21, 2018 Miss Rice of New York (for herself and Mr. Reed ) submitted the following resolution; which was referred to the Committee on Rules RESOLUTION Amending the Rules of the House of Representatives to prohibit with limited exceptions the participation of any Member, Delegate, Resident Commissioner, officer, or employee of the House on the board of any publicly held or publicly regulated corporation, financial institution, or business entity.

1. Conflict of interest Rule XXV of the Rules of the House of Representatives is amended by adding at the end the following new clause: Conflict of interest 9. A Member, Delegate, Resident Commissioner, officer, or employee of the House may not serve as an officer or member of the board of any publicly held or publicly regulated corporation, financial institution, or business entity. The preceding sentence shall not apply to service of a Member, Delegate, Resident Commissioner, officer, or employee as— (a) an officer or member of the board of an organization which is exempt from taxation under section 501(c) of the Internal Revenue Code of 1954, if such service is performed without compensation; or (b) an officer of member of the board of an institution or organization which is principally available to Members, Delegates, Resident Commissioner, officers, or employees of the House, or their families, if such service is performed without compensation. . 2. Effective date The amendment made by section 1 of this resolution shall take effect immediately before noon, January 3, 2019.