1. Short title This Act may be cited as the Stop Politicians Profiting from War Act of 2024 . 2. Ban on certain defense industry stock trading and ownership by Members of Congress, spouses, and dependent children (a) Definitions In this Act: (1) Commodity The term commodity has the meaning given that term in section 1a of the Commodity Exchange Act ( 7 U.S.C. 1a ). (2) Covered defense contractor The term covered defense contractor means a person, other than an institution of higher education (as defined under section 101 of the Higher Education Act of 1965 ( 20 U.S.C. 1001 )) or a non-profit medical treatment facility, that has entered into a contract, transaction, or other agreement with the Department of Defense. (3) Diversified The term diversified , with respect to a fund, trust, or plan, means that the fund, trust, or plan does not have a stated policy of concentrating its investments in any industry, business, single country other than the United States, or bonds of a single State. (4) Member of Congress The term Member of Congress has the meaning given that term in section 13101 of title 5, United States Code. (5) Security The term security has the meaning given that term in section 3(a) of Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ). (6) Widely held investment fund The term widely held investment fund means a widely held investment fund described in 13104(f)(8) of title 5, United States Code. (b) Divestment of assets (1) In general Except as provided in subsection (c), no Member of Congress, spouse of a Member of Congress, or dependent child of a Member of Congress may have a financial interest in a covered defense contractor, or may own an interest in or trade (except as a divestment) any stock, bond, commodity, future, or other form of security the value of which is significantly based upon a covered defense contractor or an entity in the defense industrial base, including an interest in a hedge fund, a derivative, option, or other complex investment vehicle. (2) Implementation (A) Current