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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.
Sets a new rule that senior Federal employees cannot own or trade certain financial investments. The ban also covers their spouses and dependent children, closing loopholes in existing ethics rules. The policy begins 12 months after enactment for the employees defined in 5 U.S.C. 13152(a). To carry out the law, the Office of Government Ethics (OGE) may receive unobligated funds that the Office of Management and Budget (OMB) moves from duplicative executive‑branch programs. These funds remain available to OGE for five years.
Introduced February 26, 2025 by Michael Cloud · Last progress February 26, 2025
Add a new Chapter 13 to Title 5, United States Code, by inserting it after subchapter III. The chapter addresses prohibiting transactions and ownership of certain financial instruments by senior Federal employees, their spouses, or dependent children.
Specify the effective/application date for the amendments: they apply to individuals described in section 13152(a) of Title 5 beginning 12 months after the date of enactment of this Act.
Amend Section 13121(c)(1) of Title 5 by inserting additional text (the exact inserted text is not present in the provided excerpt).
Authorize the Director of the Office of Management and Budget to transfer such funds as the Director considers appropriate, derived from unobligated amounts available for executive-branch programs the Director identifies as duplicative, to the Office of Government Ethics to carry out this Act. Funds transferred remain available until 5 years after the date of enactment.
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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.
Introduced in House