US HB5362 | 2021-2022 | 117th Congress

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on September 24 2021 - 25% progression
Action: 2021-09-24 - Referred to the Committee on Oversight and Reform, and in addition to the Committee on House Administration, 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.
Pending: House Oversight and Reform Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Prohibits certain government officials and their family members from holding foreign financial interests and also requires divestiture of any such interests in a prescribed manner and time frame. Specifically, the bill prohibits the President, cabinet officials, and Members of Congress from holding any financial interest in, or receiving payment from, a foreign business. Such individuals must divest any such interest by either converting the interest into cash or another investment, or by placing the interest in a qualified blind trust or diversified trust; divestiture must occur no later than 30 days after either the issuance of implementing regulations or after the individual takes office. The bill's requirements apply to the spouses, children, sons-in-law, and daughters-in-law of such individuals.

Tracking Information

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Title

Stop Foreign Payoffs Act

Sponsors


History

DateChamberAction
2021-09-24HouseReferred to the Committee on Oversight and Reform, and in addition to the Committee on House Administration, 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.
2021-09-24HouseReferred to the Committee on Oversight and Reform, and in addition to the Committee on House Administration, 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.
2021-09-24HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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