H.R. 6731 — Restore Trust in Government Act

This section establishes a new subchapter IV in chapter 131 of title 5, United States Code, prohibiting covered individuals—Members of Congress; their spouses, dependent children, or trustees of certain trusts in which they hold beneficial interests; and the President, Vice President, or their spouses or dependent children—from directly or indirectly owning or trading covered investments, defined as securities, commodities, futures, or comparable economic interests (excluding diversified publicly traded funds, U.S. Treasury securities, state or municipal bonds, small business concerns as defined in 15 U.S.C. 632, family farm or ranch interests qualifying as such, certain real estate LLCs for personal residences, and specified Alaska Native Claims Settlement Act stock). It requires divestiture of covered investments at fair market value within 180 days of enactment for current covered individuals or 90 days of becoming covered thereafter. It applies the certificate of divestiture program under section 1043 of the Internal Revenue Code to such divestitures, treats covered individuals as eligible persons thereunder, and directs supervising ethics offices to issue certificates upon proof of compliance. (Losses from violations are nondeductible for income tax purposes.)