Summary

Requires Members of Congress and their spouses and dependent children to place specified financial holdings into qualified blind trusts on a set timetable, certify the trusts (or that no covered investments exist), and publish those certifications. Incumbent Members have 180 days after enactment to comply; new Members have 90 days after assuming office. Trusts holding covered investments may not be dissolved and the Member may not control those investments until 180 days after leaving office. An exception excludes investments that are the primary source of a spouse's or dependent child's earned income.

• Members and their spouses/dependent children must place covered investments into qualified blind trusts.
• Incumbents have 180 days after enactment to comply; new Members have 90 days after taking office.
• Members must certify trust establishment or absence of covered investments to the House Clerk or Senate Secretary within 15 days; certifications are published online.
• Trusts holding covered investments cannot be dissolved while the Member is in office and the Member cannot control those investments until 180 days after leaving office.
• An exception excludes investments that are the primary source of earned income for a spouse or dependent child.
• Definitions for covered investments and qualified blind trusts refer to existing federal law and commodity definitions.
• Spouses and dependent children may consolidate covered assets into the Member’s blind trust.
• The law increases transparency through public certification but does not detail new enforcement penalties in the text provided.