S. 1879 — Ban Congressional Stock Trading Act

This section adds a new title IV to Chapter 131 of title 5, United States Code, to define terms—including "covered investment" (i.e., an investment in a security, commodity, or future, or comparable economic interest acquired synthetically or held indirectly through non-qualified blind trusts or certain plans, excluding diversified mutual funds or ETFs, U.S. Treasuries, spousal/dependent child compensation from primary occupation, or government retirement plan holdings)—and "dependent child" (i.e., under age 19 and claimed as a tax dependent)—and to require current Members of Congress (i.e., serving on the date of enactment), their spouses, and dependent children to certify to the applicable supervising ethics office within 30 days of enactment that they will divest or place any covered investments into a qualified blind trust (or that they own none), with divestiture or placement required within 120 days of enactment (subject to possible extensions). (Thus, current Members and families must eliminate direct or indirect control over individual stocks, non-diversified funds, commodities, or derivatives while retaining passive holdings like mutual funds.)