House Democratic leadership finally released the text of their bill to ban members of Congress from trading stocks. Here's what's in it.

The text of a bill to ban members of Congress and other government officials from trading stocks was released by House Democratic leaders.

Penalties for violating federal conflicts-of-interest law would be increased under the Combatting Financial Conflicts of Interest in Government Act.

Insider's "Conflicted Congress" investigation found many violations of the Stop Trading on Congressional Knowledge (STOCK) Act and many potential conflicts of interest among lawmakers.

Many high-profile Democrats are among the stock-disclosure violators.

They include senators Dianne Feinstein of California and Sheldon Whitehouse of Rhode Island, as well as the assistant house speaker and two congressmen.

The Committee on House Administration held a hearing in April to look into the issue of banning the practice.

The California Democrat who is close to Pelosi was tasked with writing the legislation after Pelosi initially opposed the idea.

During the current congressional session, Pelosi's husband, venture capitalist Paul Pelosi, bought and sold tens of millions of dollars worth of stock and stock options.

Congress won't have much time to consider the details of the bill, as the House will be in session only from Wednesday evening until Friday afternoon, with other must-pass government funding legislation also on the legislative calendar. Florida's Gulf Coast is about to be hit by a massive and potentially deadly storm.

Further complicating matters is House Majority Leader's reported opposition to the legislation which builds on existing opposition from some corners of the party

The Senate is unlikely to act on its own proposal until after the elections.

Here's what the bill includes:

The bill would prohibit top officials in all three branches from owning or trading stock or cryptocurrencies.

The bill prohibits government officials from owning other digital assets. The bill doesn't explicitly ban NFTs, but it does state that coins and token are subject to prohibitions, and that other digital assets that rely on the technology may be subject to regulation.

The ban includes the president, vice president, political appointees, Supreme Court justices, and the rest of the federal judiciary.

In order to comply with the ban, members of Congress may place holdings into qualified blind trusts, but the bill would allow them to put their money in other investments.

When they become a member of Congress or a federal judge, the legislation will require them to comply with the ban within 180 days.

The bill increases fines for violating the STOCK Act to $1,000, increases the penalty from $200 to $250, and adjusts the penalty by inflation.

Eliminating a long-standing problem with lawmakers submitting illegible information about their personal finances would be part of the proposal.

The bill would require the government to reveal the identities of people who paid fines for violating financial trading laws. The fines would be made public.

It's difficult to review who has paid fines because the government doesn't make such information public and most members of Congress refuse to give the information to Insider.

Here's the text of the bill: