1. Short title This Act may be cited as the Presidential Conflicts of Interest Act of 2023 . 2. Divestiture of personal financial interests of the President and Vice President that pose a potential conflict of interest (a) Definitions (1) In general In this section— (A) the term conflict-free holding means an interest in a widely held investment fund (whether such fund is a mutual fund, regulated investment company, pension or deferred compensation plan, or other investment fund) that— (i) is diversified (as defined in section 2640.102 of title 5, Code of Federal Regulations, as in effect on the date of enactment of this Act); and (ii) is— (I) publicly traded; (II) registered as a management company under the Investment Company Act of 1940 ( 15 U.S.C. 80a–1 et seq. ); or (III) a unit investment trust (as defined in section 4 of the Investment Company Act of 1940 15 U.S.C. 80a–4 ) that is a regulated investment company under section 851 of the Internal Revenue Code of 1986; (B) the term financial interest posing a potential conflict of interest means a financial interest of the President, the Vice President, the spouse of the President or Vice President, or a minor child of the President or Vice President, as applicable, that— (i) would constitute a financial interest described in subsection (a) of section 208 of title 18, United States Code— (I) if— (aa) for purposes of such section 208, the terms officer and employee included the President and the Vice President; and (bb) the President or Vice President, as applicable, participated in a particular matter affecting such financial interest; and (II) determined without regard to any exception under subsection (b)(1) of such section 208; or (ii) constitutes a present, emolument, office, or title, of any kind whatever, from any king, prince, or foreign state (including from an entity owned or controlled by a foreign government), within the meaning of article I, section 9 of the Constitution of the United States