{"bill":{"id":"119-hr-1599","congress":119,"type":"HR","number":1599,"title":"Dismantling Investments in Violation of Ethical Standards through Trusts Act","originChamber":"House","introducedDate":"2025-02-26","sponsors":[{"bioguideId":"C001115","fullName":"Rep. Cloud, Michael [R-TX-27]","party":"R","state":"TX","district":27}],"cosponsorsCount":4,"latestAction":{"actionDate":"2025-02-26","text":"Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on 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 concerned."},"policyArea":"Government Operations and Politics","subjects":["Commodities markets","Family relationships","Federal officials","Financial services and investments","Government employee pay, benefits, personnel management","Government ethics and transparency, public corruption","Securities"],"actions":[{"date":"2025-02-26","text":"Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on 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 concerned.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2025-02-26","text":"Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on 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 concerned.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2025-02-26","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false},{"date":"2025-02-26","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false}],"summary":"<p><strong>Dismantling Investments in Violation of Ethical Standards through Trusts Act</strong></p><p>This bill prohibits a senior federal employee or an employee's spouse or dependent children from holding, purchasing, or selling certain financial instruments during the employee's term of service.&nbsp;(A senior federal employee is defined as any individual occupying a Senior Executive Service position.)</p><p>Financial instruments covered by this prohibition include any investments in securities, security futures, commodities, or comparable economic interests acquired through synthetic means such as the use of derivatives.&nbsp;The prohibition does not apply to&nbsp;such instruments if they are held in a qualified blind trust or fall below certain<em>&nbsp;</em>value thresholds. Additionally, the prohibition does not apply to diversified mutual funds, diversified exchange-traded funds, specified Treasury debt securities, or compensation from the primary occupation of a spouse or child. The bill provides a 180-day window for individuals affected by the bill to sell any prohibited financial instruments.</p><p>Any profit made in violation of the prohibition must be disgorged (given)&nbsp;to the Treasury and may subject the individual to a civil fine&nbsp;assessed by the supervising ethics office.&nbsp;A loss from a transaction or holding conducted in violation of this bill may not be deducted from the amount of income tax owed by the applicable senior federal employee, spouse, or dependent child.</p><p>The bill requires each senior federal employee to annually certify compliance, including the compliance of the employee's spouse and dependent children. The Government Accountability Office must conduct a&nbsp;compliance audit.</p>","updateDate":"2026-01-29T14:52:09Z"},"markets":[],"stateBills":[],"meta":{"sources":["congress.gov"],"latencyMs":309,"ts":"2026-04-19T09:58:00.729Z"},"nextActions":{"inspect":[],"related":[{"description":"Search related legislation","method":"GET","url":"/api/public/query-gov?q=Dismantling%20Investments%20in%20Violation%20of%20Ethical%20Standards%20th"}]}}