What does Preamble of TRUST in Congress Act do?

This bill, formally titled 'To require Members of Congress and their spouses and dependent children to place certain assets into blind trusts, and for other purposes,' aims to require Members of Congress and their families to place certain assets into blind trusts. The bill was introduced in the House of Representatives on January 14, 2025.

What does SHORT TITLE. of TRUST in Congress Act do?

This bill is formally titled the "Transparent Representation Upholding Service and Trust in Congress Act" or the "TRUST in Congress Act".

What does PLACEMENT OF CERTAIN ASSETS OF MEMBERS OF CONGRESS AND THEIR of TRUST in Congress Act do?

This section requires Members of Congress, their spouses, and dependent children to place covered investments into qualified blind trusts. Members assuming office after the enactment of this Act have 90 days to place covered investments in a qualified blind trust, while those in office on the enactment date have 180 days. Spouses or dependent children may place covered investments in a qualified blind trust established by a Member of Congress. Members and their families cannot dissolve a qualified blind trust or control the investment within it for 180 days after the Member leaves office. Members of the House and Senate must certify to the Clerk and Secretary, respectively, within 15 days of establishing a trust or affirming they do not own covered investments. Certifications are to be made publicly available on the websites of the Clerk of the House and the Secretary of the Senate. Individuals who receive compensation from their primary occupation through covered investments are exempt from the requirement to place those investments in a blind trust. The definition of 'covered investment' includes investments in securities, commodities, or futures, but excludes widely held investment funds and U.S. Treasury bills, notes, or bonds.

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TRUST in Congress Act

Last updated: 1/14/2025 · Introduced: 1/14/2025

Author: Seth Magaziner (D-RI)

TL;DR (AI)

The TRUST in Congress Act mandates that Members of Congress, their spouses, and dependent children place certain investments, such as securities and commodities, into qualified blind trusts.
Members of Congress have a limited timeframe—90 days for new members and 180 days for existing members—to comply with this requirement after the bill's enactment.
The bill requires public disclosure of certifications confirming Members' compliance with blind trust requirements or attesting to the absence of covered investments.

119th Congressin committeeOfficial page

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Includes provisions on preamble, short title., and 1 more.

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