H.R. 7008

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7008 Reported in House (RH)]

<DOC>

Union Calendar No. 409
119th CONGRESS
2d Session
H. R. 7008

[Report No. 119-479]

To amend chapter 131 of title 5 to require certain restrictions on 
stocks for Members of Congress and their spouses and dependents, and 
for other purposes.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

January 12, 2026

Mr. Steil (for himself, Mr. Hudson, Mr. Griffith, Mr. Murphy, Mrs. 
Bice, Mr. Carey, Mrs. Miller of Illinois, Ms. Lee of Florida, Mr. Biggs 
of Arizona, Mr. Ogles, Mrs. Luna, Mr. Roy, Mr. Taylor, Mr. Van Orden, 
Mr. Bacon, Mr. Johnson of South Dakota, Mr. Hurd of Colorado, Mr. Joyce 
of Pennsylvania, Mr. Collins, Mr. Lawler, Mr. Baumgartner, Mr. Cloud, 
Mr. Feenstra, Mr. Scott Franklin of Florida, Mr. Mann, Mr. Buchanan, 
Mr. Timmons, Mrs. Kim, Mr. Nunn of Iowa, Mr. Cline, Mr. Crenshaw, Mr. 
Harris of Maryland, Mr. Arrington, Mr. Alford, Mr. Yakym, Mr. Kennedy 
of Utah, Mrs. Miller-Meeks, Mr. James, Mr. Mills, Mrs. Cammack, Mr. 
Barrett, Mr. Carter of Georgia, Mr. LaLota, Mr. Mackenzie, Mr. Schmidt, 
Ms. Fedorchak, Mrs. Kiggans of Virginia, Mrs. Hinson, Mr. Rutherford, 
Mr. Smith of New Jersey, Mr. Ciscomani, Mr. Kiley of California, Mr. 
Patronis, Mrs. Houchin, Mr. Riley of New York, Mr. Harrigan, Mr. 
Moolenaar, Mr. Perry, Mr. Bean of Florida, Mr. Flood, Mr. Self, Mr. 
Bresnahan, Mr. Huizenga, Mr. Bergman, Mr. Messmer, Mr. Tiffany, Mr. 
Grothman, Mr. Fitzgerald, Mr. Smucker, Mr. Strong, Mr. Miller of Ohio, 
Mr. McDowell, and Mrs. Wagner) introduced the following bill; which was 
referred to the Committee on House Administration

February 3, 2026

Additional sponsors: Mr. Begich, Mr. Crane, Mr. LaHood, Mr. Rogers of 
Alabama, Ms. Tenney, Mr. Mast, Mr. Gosar, Mr. Ellzey, Mr. Fallon, Mr. 
Langworthy, Mr. Downing, Mr. Webster of Florida, Mr. Fong, Mr. Crank, 
Mr. Bentz, Mr. McCormick, Mr. Haridopolos, Mr. Guest, Mr. Case, Mr. Van 
Epps, and Mr. Evans of Colorado

February 3, 2026

Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed 
in italic]
[For text of introduced bill, see copy of bill as introduced on January 
12, 2026]

_______________________________________________________________________

A BILL

To amend chapter 131 of title 5 to require certain restrictions on 
stocks for Members of Congress and their spouses and dependents, and 
for other purposes.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Stop Insider Trading Act''.

SEC. 2. RESTRICTIONS ON COVERED INVESTMENTS.

(a) Table of Contents.--The table of contents for chapter 131 of 
title 5, United States Code, is amended by adding at the end the 
following:

``subchapter iv--restrictions on covered investments

``13151. Definitions.
``13152. Restrictions on covered investments.
``13153. Enforcement.''.
(b) Restrictions.--Chapter 131 of title 5, United States Code, is 
amended by adding at the end a new subchapter:

``SUBCHAPTER IV--RESTRICTIONS ON COVERED INVESTMENTS

``Sec. 13151. Definitions
``In this subchapter:
``(1) Covered individual.--The term `covered individual' 
means any of the following:
``(A) A Member of Congress, as defined in section 
13101.
``(B) A dependent child (as defined in section 
13101) or a spouse of a Member of Congress.
``(2) Covered investment.--
``(A) In general.--The term `covered investment' 
means a security issued by a publicly traded company or 
any comparable economic interest acquired through 
synthetic means, such as the use of a derivative, 
including an option, warrant, or other similar means.
``(B) Exclusion.--The term `covered investment' 
does not include--
``(i) an excepted investment fund (as 
described in section 13104(f)(8));
``(ii) any other fund that would be an 
excepted investment fund but for the fact that 
the fund does not meet the diversification 
requirement solely because the fund is 
concentrated in--
``(I) the United States; or
``(II) the State, territory, or 
District of residence of the covered 
individual who owns the fund;
``(iii) an interest in a small business 
concern as defined under section 3 of the Small 
Business Act (15 U.S.C. 632); or
``(iv) investments held in a trust if no 
covered individual has any authority over a 
trustee of the trust, including the authority 
to appoint, replace, or direct the actions of 
such a trustee, and the trustee is not the 
spouse, child, parent, or sibling of a Member 
of Congress.
``(3) Publicly traded company.--The term `publicly traded 
company' means an issuer that has a class of securities 
registered under section 12 of the Securities Exchange Act of 
1934 (15 U.S.C. 78l).
``(4) Security.--The term `security' has the meaning given 
the term in section 3(a) of the Securities Exchange Act of 1934 
(15 U.S.C. 78c(a)).
``(5) Supervising ethics office.--The term `supervising 
ethics office' has the meaning given the term in section 13101.
``Sec. 13152. Restrictions on covered investments
``(a) Conduct During Federal Service.--Except as described in 
subsection (c), no covered individual may purchase a covered 
investment.
``(b) Advanced Notice Requirement.--
``(1) In general.--No covered individual shall sell a 
covered investment, unless a notice of intent to sell the 
covered investment is made by the Member of Congress and 
publicly disclosed at least 7 calendar days, and no more than 
14 calendar days, prior to the sale in accordance with the 
requirements of this subsection.
``(2) Contents of notice.--The notice under paragraph (1) 
shall include the following:
``(A) The projected date of sale of a covered 
investment.
``(B) A description of such sale.
``(C) The number of shares in such sale.
``(3) Withdrawal.--The notice under paragraph (1) shall be 
withdrawn by the Member of Congress who filed it, prior to the 
close of the expiration of the notice, if the covered 
individual determines not to sell the covered asset.
``(4) Filing.--A Member of Congress shall file the notice 
under paragraph (1) for each intended sale by the Member, or 
the spouse or dependent child of the Member, with--
``(A) the Clerk of the House of Representatives, in 
the case of a Representative in Congress, a Delegate to 
Congress, or the Resident Commissioner from Puerto 
Rico; or
``(B) the Secretary of the Senate, in the case of a 
Senator.
``(5) Publication.--The notice under paragraph (1) and the 
withdrawal under paragraph (3) shall, upon receipt, be made 
publicly available on a website controlled by the by the Clerk 
of the House of Representatives or the Secretary of the Senate, 
as applicable.
``(c) Exceptions.--
``(1) Occupation.--The requirements of subsections (a) and 
(b) shall not apply to a spouse or dependent child of a Member 
of Congress with respect to a transaction in a covered 
investment which is--
``(A) on behalf, or for the benefit, of any person 
other than a covered individual; or
``(B) made as a part of compensation from an 
employer of such individual or in furtherance of any 
fiduciary or occupational obligations of such 
individual.
``(2) Other.--The requirements of subsection (a) shall not 
apply to a covered individual with respect to a transaction in 
a covered investment made for the purpose of reinvesting 
dividends received from such covered investment.
``Sec. 13153. Enforcement
``(a) In General.--Any covered individual who violates the 
restrictions in section 13152 with respect to a covered investment, 
shall, at the direction of the supervising ethics office--
``(1) incur a fee, as calculated in subsection (b), to be 
paid by the Member of Congress who--
``(A) caused the violation; or
``(B) is the spouse or parent of a covered 
individual who caused the violation; and
``(2) in the case of a purchase of a covered investment, be 
required to sell a covered investment purchased in violation of 
section 13152(a).
``(b) Calculation of Fees.--The fee required under subsection (a) 
shall be equal to the sum of--
``(1) $2,000 or ten percent of the value of the transaction 
in the covered investment which violates section 13152, 
whichever is greater; and
``(2) the net gain realized, if any, from the covered 
investment during the period beginning on the most recent date 
on which the individual became a covered individual and ending 
on the date of disposition of the covered investment, as 
determined by the supervising ethics office.
``(c) Payment Restrictions.--A Member of Congress may not pay any 
of the fees under this section by using amounts from the following 
sources:
``(1) The Members' Representational Allowance.
``(2) The Senators' Official Personnel and Office Expense 
Account.
``(3) Any contribution (as defined in section 301(8) of the 
Federal Election Campaign Act of 1971 (52 U.S.C. 30101(8))) 
accepted as a candidate, and any other donation received as 
support for activities of the individual as a holder of Federal 
office.
``(d) Miscellaneous Receipts.--Any amounts collected in fees 
authorized by this section shall be deposited in the general fund of 
the Treasury as miscellaneous receipts in accordance with section 
3302(b) of title 31.
``(e) Referral.--Upon the assessment of a fee under this section, 
the supervising ethics office has the authority to refer a Member of 
Congress to the Department of Justice in the same manner and to the 
same extent as a violation under section 13106 if such Member of 
Congress resigns or retires before paying such assessed fee.
``(f) Interpretative Guidance.--Each supervising ethics office may 
issue interpretative guidance on this subchapter and in issuing such 
guidance, may consider mitigating or aggravating circumstances.''.
(c) Effective Date.--The amendments made by this Act shall take 
effect on the date that is 180 days after the date of enactment of this 
Act.
Union Calendar No. 409

119th CONGRESS

2d Session

H. R. 7008

[Report No. 119-479]

_______________________________________________________________________

A BILL

To amend chapter 131 of title 5 to require certain restrictions on 
stocks for Members of Congress and their spouses and dependents, and 
for other purposes.

_______________________________________________________________________

February 3, 2026

Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed