US SB3649

Prohibits Members of Congress, their spouses, and dependent children from owning or trading individual stocks, securities, commodities, and futures

Requires divestiture of covered investments within 180 days for current Members or 90 days for newly elected Members, with extensions available for low liquidity or contractual restrictions

Exempts diversified publicly-traded investment funds (like index funds), U.S. Treasury bonds, state/municipal bonds, small business interests, and Alaska Native Settlement Stock

Provides certificates of divestiture allowing tax deferral under IRS Code Section 1043 when selling to comply with the law

Imposes penalties of 10% of investment value plus disgorgement of profits for violations, with fines published publicly and barred from being paid with campaign or office funds