Us Congress 2025-2026 Regular Session

Us Congress House Bill HB396 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 396
5	5	To require Members of Congress and their spouses and dependent children
6	6	to place certain assets into blind trusts, and for other purposes.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	JANUARY14, 2025
9	9	Mr. M
10	10	AGAZINER(for himself, Mr. ROY, Ms. ADAMS, Mr. BEYER, Mr. CASAR,
11	11	Mr. C
12	12	ISCOMANI, Mr. CLEAVER, Ms. CRAIG, Mr. CRANE, Mr. CROW, Ms.
13	13	D
14	14	AVIDSof Kansas, Ms. DELBENE, Mr. DELUZIO, Mr. GARCIAof Cali-
15	15	fornia, Mr. G
16	16	OLDENof Maine, Mr. GOTTHEIMER, Ms. HOULAHAN, Mr.
17	17	H
18	18	UFFMAN, Mr. JOHNSONof South Dakota, Mr. KEATING, Mrs. KIM, Mr.
19	19	L
20	20	ANDSMAN, Mr. LAWLER, Ms. LEGERFERNANDEZ, Mr. LEVIN, Ms.
21	21	M
22	22	ACE, Ms. MCCOLLUM, Mr. MRVAN, Mr. MURPHY, Mr. NADLER, Mr.
23	23	N
24	24	EGUSE, Ms. NORTON, Ms. PEREZ, Mr. PERRY, Ms. PETTERSEN, Mr.
25	25	P
26	26	OCAN, Ms. SALINAS, Ms. SHERRILL, Mr. SORENSEN, Mr. STANTON, Ms.
27	27	S
28	28	TEVENS, Ms. TITUS, Mr. TONKO, Mr. VASQUEZ, Ms. WILLIAMSof Geor-
29	29	gia, Mr. M
30	30	ACKENZIE, and Mr. PAPPAS) introduced the following bill;
31	31	which was referred to the Committee on House Administration
32	32	A BILL
33	33	To require Members of Congress and their spouses and de-
34	34	pendent children to place certain assets into blind trusts,
35	35	and for other purposes.
36	36	Be it enacted by the Senate and House of Representa-1
37	37	tives of the United States of America in Congress assembled, 2
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40	40	•HR 396 IH
41	41	SECTION 1. SHORT TITLE. 1
42	42	This Act may be cited as the ‘‘Transparent Represen-2
43	43	tation Upholding Service and Trust in Congress Act’’ or 3
44	44	the ‘‘TRUST in Congress Act’’. 4
45	45	SEC. 2. PLACEMENT OF CERTAIN ASSETS OF MEMBERS OF 5
46	46	CONGRESS AND THEIR SPOUSES AND DE-6
47	47	PENDENT CHILDREN IN BLIND TRUST. 7
48	48	(a) I
49	49	NGENERAL.— 8
50	50	(1) M
51	51	EMBERS OCCUPYING OFFICE ON DATE OF 9
52	52	ENACTMENT.—Not later than 180 days after the 10
53	53	date of enactment of this Act, a Member of Con-11
54	54	gress and any spouse or dependent child of such 12
55	55	Member shall place any covered investment owned 13
56	56	by such Member, spouse, or dependent child into a 14
57	57	qualified blind trust. 15
58	58	(2) M
59	59	EMBERS ASSUMING OFFICE AFTER DATE 16
60	60	OF ENACTMENT.—Not later than 90 days after the 17
61	61	date an individual becomes a Member of Congress 18
62	62	after the date of enactment of this Act, such indi-19
63	63	vidual and any spouse or dependent child of such in-20
64	64	dividual shall place any covered investment owned by 21
65	65	such individual, spouse, or dependent child into a 22
66	66	qualified blind trust. 23
67	67	(3) M
68	68	INGLING OF ASSETS.—A spouse or de-24
69	69	pendent child of a Member of Congress may place 25
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72	72	•HR 396 IH
73	73	a covered investment in a qualified blind trust estab-1
74	74	lished by such Member under paragraph (1) or (2). 2
75	75	(4) A
76	76	SSETS UPON SEPARATION .—A Member of 3
77	77	Congress and any spouse or dependent child of such 4
78	78	Member may not dissolve any qualified blind trust in 5
79	79	which a covered investment has been placed pursu-6
80	80	ant to paragraph (1) or (2), or otherwise control 7
81	81	such an investment, until the date that is 180 days 8
82	82	after the date such Member ceases to be a Member 9
83	83	of Congress. 10
84	84	(b) A
85	85	CCOUNTABILITY.— 11
86	86	(1) M
87	87	EMBERS OF THE HOUSE .—A Member of 12
88	88	Congress who is a Member of the House of Rep-13
89	89	resentatives shall— 14
90	90	(A) not later than 15 days after the date 15
91	91	a qualified blind trust is established under sub-16
92	92	section (a), certify to the Clerk of the House of 17
93	93	Representatives that such trust has been estab-18
94	94	lished and that any covered investment owned 19
95	95	by such Member or a spouse or dependent child 20
96	96	of such Member has been placed in such trust; 21
97	97	or 22
98	98	(B) certify to the Clerk that such Member 23
99	99	or a spouse or dependent child of such Member 24
100	100	does not own any covered investment. 25
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103	103	•HR 396 IH
104	104	(2) MEMBERS OF THE SENATE .—A Member of 1
105	105	Congress who is a Senator shall— 2
106	106	(A) not later than 15 days after the date 3
107	107	a qualified blind trust is established under sub-4
108	108	section (a), certify to the Secretary of the Sen-5
109	109	ate that such trust has been established and 6
110	110	that any covered investment owned by such 7
111	111	Member or a spouse or dependent child of such 8
112	112	Member has been placed in such trust; or 9
113	113	(B) certify to the Secretary that such 10
114	114	Member or a spouse or dependent child of such 11
115	115	Member does not own any covered investment. 12
116	116	(3) R
117	117	EPORT.—The Clerk of the House of Rep-13
118	118	resentatives and the Secretary of the Senate shall 14
119	119	make available on the public website of the Clerk 15
120	120	and the Secretary, respectively, any certification 16
121	121	made under paragraph (1) or (2). 17
122	122	(c) E
123	123	XCEPTION.—A spouse or dependent child who 18
124	124	receives compensation from their primary occupation 19
125	125	through any covered investment shall not be required to 20
126	126	place such covered investment in a qualified blind trust 21
127	127	under this Act. 22
128	128	(d) D
129	129	EFINITIONS.—In this Act: 23
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132	132	•HR 396 IH
133	133	(1) COMMODITY.—The term ‘‘commodity’’ has 1
134	134	the meaning given the term in section 1a of the 2
135	135	Commodity Exchange Act (7 U.S.C. 1a). 3
136	136	(2) C
137	137	OVERED INVESTMENT .—The term ‘‘cov-4
138	138	ered investment’’— 5
139	139	(A) means investment in a security, a com-6
140	140	modity, or a future, or any comparable eco-7
141	141	nomic interest acquired through synthetic 8
142	142	means such as the use of a derivative; and 9
143	143	(B) does not include— 10
144	144	(i) a widely held investment fund de-11
145	145	scribed in section 13104(f)(8) of title 5, 12
146	146	United States Code; or 13
147	147	(ii) a United States Treasury bill, 14
148	148	note, or bond. 15
149	149	(3) D
150	150	EPENDENT CHILD.—The term ‘‘dependent 16
151	151	child’’ has the meaning given that term in section 17
152	152	13101 of title 5, United States Code. 18
153	153	(4) M
154	154	EMBER OF CONGRESS .—The term ‘‘Mem-19
155	155	ber of Congress’’ has the meaning given that term 20
156	156	in such section 13101. 21
157	157	(5) Q
158	158	UALIFIED BLIND TRUST .—The term 22
159	159	‘‘qualified blind trust’’ has the meaning given that 23
160	160	term in section 13104(f)(3) of such title. 24
161	161	Æ
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