,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #bbad  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #bd1 #bjac ,ms4  
,m5g 7= h]self1 ,mr4 ,blum5au]1 ,mr4    
,capuano1 ,mr4 ,c>twright1 ,ms4 ,*u1    
,mr4 ,cicill9e1 ,mr4 ,coh51 ,mr4        
,cony]s1 ,ms4 ,edw>ds1 ,mr4 ,ellison1   
,mr4 ,connolly1 ,mr4 ,johnson (         
,georgia1 ,mr4 ,huffman1 ,mr4           
,mc,govern1 ,mr4 ,murphy ( ,florida1    
,mr4 ,pocan1 ,mr4 ,rangel1 ,ms4         
,%ea-,port]1 ,ms4 ,slaught]1 & ,mr4     
,mi*aud7 introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to am5d !         
securities laws to require t regi/ration
 /atem5ts1 qu>t]ly & annual reports1 &  
proxy solicitations ( public companies  
include a disclosure to %>ehold]s ( any 
exp5diture made by t company 9 support (
 or 9 opposition to any c&idate =       
,f$]al1 ,/ate1 or local public (fice4   
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,corporate ,politics ,transp>5cy ,act4
  #b4 ,disclosure to %>ehold]s ( c]ta9  

political exp5ditures  7a7 ,qu>t]ly &   
annual reports ,section #ac ( !         
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #ghm7 is am5d$ by add+ at !   
end ! foll[+ new subsection3  7s7       
,disclosure ( c]ta9 political           
exp5ditures  7#a7 ,disclosure requir$   
,ea* qu>t]ly & annual report requir$ "u 
?is section or section #ae7;d7 %all     
include a disclosure ( ! total ( any    
political exp5ditures 9 support ( or 9  
opposition to any c&idate = ,f$]al1     
,/ate1 or local public (fice made by !  
issu] dur+ ! prec$+ #f-ye> p]iod4 ,su*  
disclosures %all conta91 at m9imum1 ! "n
 & political p>ty affiliation ( ea*     
c&idate 9 support ( :om or 9 opposition 
to :om a political exp5diture 0 made1 ! 
am\nt ( ea* su* exp5diture1 ! public    
(fice t su* c&idate 0 or is seek+1      
includ+ ! relevant ,/ate1 city1 or      
di/rict1 & a /atem5t ( ! issu]'s int]e/ 
9 & reason = mak+ su* exp5diture4  7#b7 
,def9ition ,= purposes ( ?is subsection1
 ! t]m political exp5diture 9 support ( 

or 9 opposition to any c&idate = ,f$]al1
 ,/ate1 or local public (fice means an  
exp5diture or s]ies ( exp5ditures total+
 m ?an #aj1jjj = any s+le c&idate dur+  
any s+le election t--  7,a7 is an       
indep5d5t exp5diture z su* t]m is def9$ 
9 section #cja7ag7 ( ! ,f$]al ,election 
,campaign ,act ( #aiga or is relat+ to a
 c&idate = ,/ate or local public (fice t
 w\ld be treat$ z an indep5d5t          
exp5diture "u su* ,act if ! c&idate 7 a 
c&idate = ,f$]al public (fice2  7,b7 is 
an electione]+ communication1 z su* t]m 
is def9$ 9 section #cjd7;f77#c7 ( su*   
,act 7#b ,u4,s4,c4 #dcd7;f77#c772 or    
7,c7 dues or o!r paym5ts to any o!r     
organization t are1 or c\ld reasonably  
be anticipat$ to be1 us$ or transf]r$ to
 ano!r association or organization = !  
purposes describ$ 9 subp>agraph 7,a7 or 
7,b74  4  7b7 ,proxies ,section #ad ( ! 
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #ghn7 is am5d$ by add+ at !   
end ! foll[+ new subsection3  7k7       
,disclosure to %>ehold]s ( political    

exp5ditures ,any solicitation ( any     
proxy or cons5t or au?orization 9       
respect ( any security ( an issu] %all  
conta9 a disclosure ( ! total ( any     
political exp5ditures 9 support ( or 9  
opposition to any c&idate = ,f$]al1     
,/ate1 or local public (fice made by !  
issu] dur+ ! prec$+ #f-ye> p]iod4 ,su*  
disclosure mu/ be cle> & conspicu\s &1  
at m9imum1 conta9 ! "n & political p>ty 
affiliation ( ea* c&idate 9 support (   
:om or 9 opposition to :om a political  
exp5diture 0 made1 ! am\nt ( ea* su*    
exp5diture1 ! public (fice t su* c&idate
 0 or is seek+1 includ+ ! relevant      
,/ate1 city1 or di/rict1 & a /atem5t ( !
 issu]'s int]e/ 9 & reason = mak+ su*   
exp5diture4 ,= purposes ( ?is           
subsection1 ! t]m political exp5diture 9
 support ( or 9 opposition to any       
c&idate = ,f$]al1 ,/ate1 or local public
 (fice has ! mean+ giv5 su* t]m 9       
section #ac7m77#b74  4  7c7 ,regi/ration
 /atem5ts ,section #g ( ! ,securities   
,act ( #aicc 7#ae ,u4,s4,c4 #gg;g7 is   

am5d$ by add+ at ! end ! foll[+3  7e7 ,!
 regi/ration /atem5t %all also conta9 a 
disclosure ( any political exp5ditures 9
 support ( or 9 opposition to any       
c&idate = ,f$]al1 ,/ate1 or local public
 (fice made by ! issu] dur+ ! prec$+    
#f-ye> p]iod4 ,su* disclosure %all      
conta91 at m9imum1 ! "n & political p>ty
 affiliation ( ea* c&idate 9 support (  
:om or 9 opposition to :om a political  
exp5diture 0 made1 ! am\nt ( ea* su*    
exp5diture1 ! public (fice t su* c&idate
 0 or is seek+1 includ+ ! relevant      
,/ate1 city1 or di/rict1 & a /atem5t ( !
 issu]'s int]e/ 9 & reason = mak+ su*   
exp5diture4 ,= purposes ( ?is           
subsection1 ! t]m political exp5diture 9
 support ( or 9 opposition to any       
c&idate = ,f$]al1 ,/ate1 or local public
 (fice has ! mean+ giv5 su* t]m 9       
section #ac7m77#b7 ( ! ,securities      
,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4    
#ghm7m77#c774  4  7d7 ,modification (   
=ms ,! ,securities & ,ex*ange           
,commission %all make su* modifications 

to any =ms made available by !          
,commission to facilitate ! disclosures 
requir$ by ! am5dm5ts made by ?is ,act4 
7e7 ,effective date ,! am5dm5ts made by 
?is ,act %all take effect beg9n+ ) !    
fir/ reports t are ! subject ( su*      
am5dm5ts t are requir$ to be fil$ = !   
fiscal ye> t beg9s aft] ! date (        
enactm5t ( ?is ,act4