Rep. DelBene Discloses Joint Energy Sector Bond Trades

Representative Suzan K. DelBene (D-WA) executed a series of joint financial transactions involving energy-related municipal bonds throughout September 2026, according to a recent congressional trade report. The activity spanned multiple energy authorities and school district obligations, with individual trade valuations ranging between $250,001 and $500,000.

Breakdown of September Transactions

The reported trades reflect a rotation within the representative's municipal bond holdings. All transactions were marked with a "JT" code, indicating they were conducted jointly.

• September 3: Purchased Boulder Larimer & Weld Counties, Colo. 5% general obligation bonds (due 2027) valued at $250,001 to $500,000.
• September 3: Sold California Community Choice Financing Authority 5% bonds (due 2056) valued at $250,001 to $500,000.
• September 3: Purchased San Joaquin Valley, Calif. Clean Energy Authority 5.5% bonds (due 2056) valued at $250,001 to $500,000.
• September 14: Purchased Central Valley Energy Authority, Calif. 5% bonds (due 2034) valued at $250,001 to $500,000.
• September 14: Sold San Joaquin Valley, Calif. Clean Energy Authority 5.5% bonds (due 2056) valued at $250,001 to $500,000.

Understanding Municipal Bond Mechanisms

Municipal bonds, such as those held by the representative, are debt securities issued by states, cities, counties, and other governmental entities to fund day-to-day obligations or finance capital projects like schools, highways, or power infrastructure.

In this portfolio, the holdings focus on revenue bonds issued by energy authorities. General obligation bonds are backed by the full taxing power of the issuing municipality, but revenue bonds are typically secured by the specific income generated by the project, such as utility fees or energy sales. The San Joaquin Valley and Central Valley Energy Authority bonds fall into this category, as they are often used to finance energy procurement or infrastructure for community-owned utilities.

Disclosure Requirements for Lawmakers

The Stop Trading on Congressional Knowledge (STOCK) Act requires members of Congress to disclose financial transactions, including stocks, bonds, and other securities, within 45 days of the transaction. These disclosures provide transparency regarding the financial interests of public officials, allowing the public to monitor for potential conflicts of interest.

The trades in September represent a shift in the representative's exposure within the energy sector. The representative moved out of the California Community Choice Financing Authority and the San Joaquin Valley Clean Energy Authority, while acquiring new positions in Colorado school district debt and the Central Valley Energy Authority.