American Sovereign Wealth Fund Exploration Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 3116 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 3116 To establish a commission to study the creation of a national sovereign wealth fund by the United States, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 30, 2025 Mr. McGarvey introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To establish a commission to study the creation of a national sovereign wealth fund by the United States, and for other purposes. 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 ``American Sovereign Wealth Fund Exploration Act''. SEC. 2. COMMISSION ON EXPLORING THE CREATION OF A SOVEREIGN WEALTH FUND OF THE UNITED STATES. (a) Establishment.--Not later than 90 days after the date of the enactment of this Act, the Chair of the Federal Reserve shall establish a commission to be known as the ``Commission on Exploring the Creation of a Sovereign Wealth Fund of the United States'' (in this Act referred to as the ``Commission'') to study and make recommendations to Congress about the creation of a national sovereign wealth fund owned and managed by the United States. (b) Membership.--The Commission shall be composed of the following members: (1) 6 representatives from the Board of Governors of the Federal Reserve System or a Federal reserve bank, appointed by the Chair of the Federal Reserve. (2) 3 representatives from the Department of the Treasury, appointed by the Secretary of the Treasury. (3) 3 representatives from the Securities and Exchange Commission, appointed by the Chairman of the Securities and Exchange Commission. (4) 2 representatives from the Department of Comme