Congressional Blind Trust Act of 2011

Congressional Blind Trust Act of 2011 - Amends the Ethics in Government Act of 1978 to require each Member of Congress to place all of his or her stocks, bonds, commodities futures, and other forms of securities, including securities held jointly with a spouse, in a qualified blind trust.

Exempts from such 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.

Requires new Members to comply with this Act within 30 days after taking office, and incumbent Members within 30 days after enactment of this Act. Allows a Member to file, as appropriate, with the Clerk of the House of Representative or the Secretary of the Senate for an additional 30-day extension in order to comply.

Authorizes the Attorney General to bring a civil action against any Member of Congress for noncompliance.

[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3549 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 3549

  To amend the Ethics in Government Act of 1978 to require Members of 
 Congress to place their stocks, bonds, commodities futures, and other 
                 forms of securities in a blind trust.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 2, 2011

 Mr. Bachus (for himself and Mr. Duffy) introduced the following bill; 
      which was referred to the Committee on House Administration

_______________________________________________________________________

                                 A BILL


 
  To amend the Ethics in Government Act of 1978 to require Members of 
 Congress to place their stocks, bonds, commodities futures, and other 
                 forms of securities in a blind trust.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Congressional Blind Trust Act of 
2011''.

SEC. 2. REQUIREMENT OF MEMBERS OF CONGRESS TO USE BLIND TRUST.

    The Ethics in Government Act of 1978 (5 U.S.C. App.) is amended by 
inserting after section 101 the following new section:

``SEC. 101A. MEMBERS OF CONGRESS REQUIRED TO ESTABLISH A BLIND TRUST.

    ``(a) Requirement.--Each Member of Congress shall place all of such 
person's stocks, bonds, commodities futures, and other forms of 
securities, including securities held jointly with such person's 
spouse, in a qualified blind trust (as defined in section 102(f)(3)).
    ``(b) Exclusion.--Subsection (a) shall not apply to the financial 
interests or benefits described under section 102(i).
    ``(c) Timing and Extension.--
            ``(1) In general.--Each Member of Congress shall comply 
        with subsection (a) not later than 30 days after taking office, 
        or in the case of a person who is a Member of Congress on the 
        date of enactment of the Congressional Blind Trust Act of 2011, 
        not later than 30 days after such date of enactment.
            ``(2) Extension.--A Member of Congress may file, with the 
        Clerk of the House of Representatives in the case of a 
        Representative or Delegate of Congress and the Resident 
        Commissioner from Puerto Rico, and with the Secretary of the 
        Senate, in the case of a Senator, for an additional 30-day 
        extension to comply with subsection (a).
    ``(d) Civil Penalty for Failure To Comply.--The Attorney General 
may bring a civil action in any appropriate United States district 
court against any Member of Congress who knowingly and willfully fails 
to comply with subsection (a) by the end of the time period specified 
in subsection (c). The court in which such action is brought may assess 
against such person a civil penalty not to exceed $50,000.''.
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