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HR 3550 112th Congress House Congress Civil actions and liability Commodities markets Congressional officers and employees Federal officials Financial services and investments Government ethics and transparency, public corruption Government information and archives Members of Congress Securities

RESTRICT Act

Introduced: December 2, 2011 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 5, 2011
Referred to the Subcommittee on the Constitution.
Dec 2, 2011
Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, and the Judiciary, 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.
Dec 2, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Restoring Ethical Standards, Transparency, and Responsibility in Congressional Trading Act or RESTRICT Act - Amends the Ethics in Government Act of 1978 to require the President, the Vice President, Members of Congress, and certain federal officers and employees to: (1) place all of his or her stocks, bonds, commodities futures, and other forms of securities, including securities held jointly with a spouse or dependent child, in a qualified blind trust; or (2) file a report with the appropriate ethics officer, within three business days after a transaction is settled, on any purchase, sale, or exchange in stocks, bonds, commodities futures, and other forms of securities, including those jointly held with the individual's spouse or dependent child.

Exempts from this requirement any financial interests in or income derived from: (1) the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS), including the Thrift Savings Plan (TSP); (2) any other federal retirement system for U.S. officers and employees, including the President, or for members of the uniformed services; or (3) benefits received under the Social Security Act.

Subjects violators of this Act to specified civil and criminal penalties.

What's happening now December 5, 2011

Referred to the Subcommittee on the Constitution.

 Committees of jurisdiction 4
 Cosponsors 1
All 1 Republican 1