House Bill 7581
116th Congress(2019-2020)
To require certain officers and employees in the executive branch of the Federal Government to divest certain financial interests, and for other purposes.
Introduced
Introduced in House on Jul 13, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
7581
Congress
116
Policy Area
Government Operations and Politics
Government Operations and Politics
Primary focus of measure is government administration, including agency organization, contracting, facilities and property, information management and services; rulemaking and administrative law; elections and political activities; government employees and officials; Presidents; ethics and public participation; postal service. Measures concerning agency appropriations and the budget process may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
This bill requires certain government officials in the executive branch and their spouses to divest corporate and other financial interests.
Specifically, such officials must divest into a qualified blind trust any financial interest in a business for which the official is a trustee, partner, officer, director, or more than 10% shareholder. The trustee of the qualified blind trust must sell the interest and use the proceeds to purchase conflict-free holdings.
The bill's requirements apply to cabinet officials, senior executives, policy advisors, presidential appointees, specified White House personnel, and their spouses.
July 13, 2020
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07/13/2020
Referred to the House Committee on Oversight and Reform.
07/13/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:45:57 PM