H.Res. 725 — Providing for consideration of the bill (H.R. 1908) to prohibit stock trading and ownership by Members of Congress and their spouses and dependent children, and for other purposes.

This section establishes the procedure for immediate House floor consideration of H.R. 1908, which prohibits stock trading and ownership by Members of Congress and their spouses and dependent children. It waives all points of order against consideration of the bill and its provisions as amended; deems the amendment specified in section 3 of this resolution adopted and the bill as amended read; and orders the previous question to final passage after (1) one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services and (2) one motion to recommit.

This section enacts the Restore Trust in Congress Act, which amends chapter 131 of title 5, U.S. Code (Ethics in Government), by adding a new subchapter IV that prohibits covered individuals—Members of Congress, their spouses, dependent children, and certain related trusts—from directly or indirectly owning or trading covered investments (i.e., securities, commodities, futures, or synthetic equivalents, excluding diversified publicly traded funds, U.S. Treasuries, state/municipal bonds, small business concerns as defined in 15 U.S.C. 632, certain real estate LLCs, and 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 one, and treats these requirements as a federal conflict-of-interest statute eligible for certificates of divestiture under 26 U.S.C. 1043 to defer taxes on resulting gains. Exceptions include (1) trades by a spouse or dependent child as part of their primary occupation if not owned by a covered individual and (2) qualified blind trusts, which must also divest by the applicable deadline.