,i #aac? ,,congress #a/ ,session ,h4 ,r4 #bfgj ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #aa1 #bjac ,mr4 ,c>twright 7= himself1 ,mr4 ,grayson1 ,mr4 ,brady ( ,p5nsylvania1 ,mr4 ,fattah1 ,mr4 ,sires1 ,mr4 ,eny>t1 ,mr4 ,y>mu?1 ,mr4 ,o',r\rke1 ,ms4 ,loretta ,san*ez ( ,cali=nia1 ,mr4 ,&rews1 ,mr4 ,clyburn1 ,mr4 ,v>gas1 ,mr4 ,ellison1 ,mr4 ,de,fazio1 ,mr4 ,coh51 ,mr4 ,cicill9e1 ,mr4 ,engel1 ,mr4 ,grijalva1 ,mr4 ,tonko1 ,mr4 ,g5e ,gre5 ( ,texas1 & ,ms4 ,l9da ,t4 ,sn*ez ( ,cali=nia7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means1 & 9 addition to ! ,committee on ,h\se ,adm9i/ration1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to am5d ! ,f$]al ,election ,campaign ,act ( #aiga to require corporations & labor organizations to disclose to _! %>ehold]s or memb]s ! am\nts disburs$ = c]ta9 political activity1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,op5ness 9 ,political ,exp5ditures ,n[ ,act or ! ,,op5 ,act4 #b4 ,disclosure by corporations & labor organizations to %>ehold]s & memb]s ( disbursem5ts = political activity 7a7 ,disclosure requir$ ,title ,,iii ( ! ,f$]al ,election ,campaign ,act ( #aiga 7#b ,u4,s4,c4 #dca et seq47 is am5d$ by add+ at ! end ! foll[+ new section3 #cbe4 ,disclosures by ,corporations & ,labor ,organizations to ,%>ehold]s & ,memb]s ( ,in=mation on ,disbursem5ts = ,c]ta9 ,political ,activity 7a7 ,includ+ in=mation 9 regul> p]iodic reports 7#a7 ,9 g5]al ,a corporation :i* submits regul>1 p]iodic reports to its %>ehold]s & a labor organization :i* submits regul>1 p]iodic reports to its memb]s %all include 9 ea* su* report1 9 a cle> & conspicu\s mann]1 ! in=mation describ$ 9 p>agraph 7#b7 ) respect to ! disbursem5ts made by ! corporation or labor organization = cov]$ political activity dur+ ! p]iod cov]$ by ! report1 b only if ! am\nt ( ! disbursem5t made = su* activity dur+ ! p]iod cov]$ by ! report equals or exce$s ! applicable ?re%old = ! activity describ$ 9 p>agraph 7#c74 7#b7 ,in=mation describ$ ,! in=mation describ$ 9 ?is p>agraph is1 = ea* disbursem5t = cov]$ political activity-- 7,a7 ! date ( ! disbursem5t2 7,b7 ! am\nt ( ! disbursem5t2 7,c7 9 ! case ( a disbursem5t consi/+ ( an indep5d5t exp5diture or an electione]+ communication1 or 9 ! case ( a cov]$ political activity describ$ 9 subsection 7c77#c71 ! "n ( ! c&idate id5tifi$ 9 ! indep5d5t exp5diture or electione]+ communication involv$1 ! ,commission ,,id assign$ to ! c&idate1 & ! (fice s\ght by ! c&idate2 & 7,d7 9 ! case ( a cov]$ political activity describ$ 9 subsection 7c77#d71 ! id5tification ( ! association or organization to :om ! disbursem5t 0 made1 & ! ,commission ,,id 7if any7 assign$ to ! association or organization4 7#c7 ,applicable ?re%old = disclosure ,= purposes ( p>agraph 7#a71 ! applicable ?re%old ) respect to a disbursem5t = cov]$ political activity dur+ a p]iod cov]$ by a report is z foll[s3 7,a7 ,9 ! case ( cov]$ political activity consi/+ ( an indep5d5t exp5diture1 #bej4 7,b7 ,9 ! case ( cov]$ political activity consi/+ ( an electione]+ communication or a communication describ$ 9 subsection 7c77#c71 #aj1jjj4 7,c7 ,9 ! case ( cov]$ political activity consi/+ ( a paym5t describ$ 9 subsection 7c77#d71 ! am\nt ( ! limitation on contributions :i* is 9 effect "u section #cae7;a77#a77;,c7 z ( ! la/ day ( ! p]iod4 7b7 ,submission ( ,/atem5t to ,commission 7#a7 ,submission ( /atem5t ,if a corporation or labor organization includes in=mation 9 a report pursuant to ?is section1 at ! "t ! corporation or labor organization submits ! report to its %>ehold]s or memb]s1 ! corporation or labor organization %all file a /atem5t ) ! ,commission consi/+ ( ! in=mation includ$ 9 ! report pursuant to ?is section4 7#b7 ,hyp]l9k to in=mation 7,a7 ,requir+ po/+ ( hyp]l9k ,if a corporation or labor organization ma9ta9s an ,int]net site1 ! corporation or labor organization %all po/ on su* ,int]net site a hyp]l9k f its homepage to ! location on ! ,int]net site ( ! ,commission :i* conta9s ! /atem5t fil$ by ! corporation or labor organization "u p>agraph 7#a74 7,b7 ,deadl9e2 duration ( po/+ ,! corporation or labor organization %all po/ ! hyp]l9k describ$ 9 subp>agraph 7,a7 n lat] ?an #bd h\rs aft] ! ,commission po/s ! /atem5t fil$ by ! corporation or labor organization "u p>agraph 7#a7 on ! ,int]net site ( ! ,commission1 & %all ensure t ! hyp]l9k rema9s on ! ,int]net site ( ! corporation or labor organization until ! expiration ( ! #a-ye> p]iod :i* beg9s on ! date ( ! election ) respect to :i* ! disbursem5ts includ$ 9 ! /atem5t are made4 7c7 ,cov]$ ,political ,activity ,def9$ ,9 ?is section1 ! t]m cov]$ political activity means ea* ( ! foll[+3 7#a7 ,an indep5d5t exp5diture 7z def9$ 9 section #cja7ag774 7#b7 ,an electione]+ communication 7z def9$ 9 section #cjd7;f77#c774 7#c7 ,a communication :i* w\ld be treat$ z an electione]+ communication "u section #cjd7;f77#c7 if ! communication _h be5 a broadca/1 cable1 or satellite communication4 7#d7 ,! paym5t ( dues or o!r am\nts to a trade association or to a section #eja7;c77#d7 organization4 7d7 ,o!r ,def9itions ,9 ?is section1 ! foll[+ def9itions apply3 7#a7 ,! t]m corporation means any corporation :i* is subject to section #caf7;a74 7#b7 ,! t]m labor organization has ! mean+ giv5 su* t]m 9 section #caf4 7#c7 ,! t]m section #eja7;c77#d7 organization means any organization describ$ 9 p>agraph 7#d7 ( section #eja7;c7 ( ! ,int]nal ,rev5ue ,code ( #aihf & exempt f tax "u section #eja7;a7 ( su* ,code4 4 7b7 ,effective date ,! am5dm5t made by subsection 7a7 %all apply ) respect to reports describ$ 9 section #cbe7;a77#a7 ( ! ,f$]al ,election ,campaign ,act ( #aiga 7z add$ by subsection 7a77 :i* are fil$ aft] ! expiration ( ! #ij-;day p]iod :i* beg9s on ! date ( ! enactm5t ( ?is ,act4 #c4 ,limitation on engag+ 9 cov]$ political activities by social welf>e organizations 7a7 ,9 g5]al ,section #eja7;c77#d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+3 7,c7 7i7 ,subp>agraph 7,a7 %all n apply to an entity = a taxable ye> if ! total exp5ditures ( su* entity = ! taxable ye> = cov]$ political activity exce$ ! less] (-- 7,i7 #aj p]c5t ( ! total exp5ditures ( su* entity = ! taxable ye>1 or 7,,ii7 #aj1jjj1jjj4 7ii7 ,subp>agraph 7,a7 %all n apply to an entity = a taxable ye> unless its gov]n+ in/rum5t includes provisions ! effects ( :i* are to prohibit ! exp5ditures ( ! entity = a cov]$ political activity f exce$+ ! ?re%old specifi$ 9 clause 7i74 7iii7 ,= purposes ( ?is subp>agraph1 ! t]m cov]$ political activity means-- 7,i7 any activity describ$ 9 p>agraphs 7#a7 ?r\gh 7#c7 ( section #cbe7;c7 ( ! ,f$]al ,election ,campaign ,act ( #aiga2 & 7,,ii7 any paym5t by ! entity to any o!r entity describ$ 9 ?is p>agraph or to an organization describ$ 9 p>agraph 7#f7 :i* ! payor entity kn[s1 or has reason to "k1 w be us$ directly or indirectly by ! payee entity or organization = any activity ref]r$ to 9 subclause 7,i74 7iv7 ,clause 7i7 %all n apply = a taxable ye> = :i* ! #aj p]c5t ?re%old specifi$ 9 clause 7i77,i7 is exce$$ by n m ?an a de m9imis am\nt if ! ,secret>y det]m9es t ! reason = exce$+ ! ?re%old 0 n willful & is due to reasonable cause4 7v7 ,! ,secret>y %all prescribe su* regulations z may be necess>y or appropriate to prev5t ! avoidance ( clause 7i71 includ+ regulations relat+ to a direct or indirect transf] ( all or "p ( ! assets ( an entity to an entity controll$ 7directly or indirectly7 by ! same p]son or p]sons :o control ! transf]or entity4 4 7b7 ,effective date ,! am5dm5t made by subsection 7a7 %all apply to taxable ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4 #d4 ,sev]ability ,if any provision ( ?is ,act or am5dm5t made by ?is ,act1 or ! application ( a provision or am5dm5t to any p]son or circum/ance1 is held to be uncon/itutional1 ! rema9d] ( ?is ,act & am5dm5ts made by ?is ,act1 & ! application ( ! provisions & am5dm5t to any p]son or circum/ance1 %all n be affect$ by ! hold+4