,,ii #aacth ,,congress #b;d ,session ,s4 #beaf ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,june #bd1 #bjad ,mr4 ,whitehouse 7for himself1 ,mr4 ,leahy1 ,mrs4 ,shaheen1 ,mr4 ,bennet1 ,mr4 ,king1 ,mr4 ,udall of ,new ,mexico1 ,mr4 ,franken1 ,mr4 ,schumer1 ,mrs4 ,hagan1 ,mr4 ,harkin1 ,mr4 ,reed1 ,mrs4 ,gillibrand1 ,mrs4 ,boxer1 ,mr4 ,brown1 ,ms4 ,klobuchar1 ,ms4 ,hirono1 ,mr4 ,markey1 ,mr4 ,johnson of ,south ,dakota1 ,mr4 ,tester1 ,ms4 ,stabenow1 ,mr4 ,nelson1 ,mr4 ,cardin1 ,mr4 ,casey1 ,mr4 ,rockefeller1 ,mrs4 ,mc,caskill1 ,mr4 ,sanders1 ,ms4 ,warren1 ,mrs4 ,feinstein1 ,mrs4 ,murray1 ,mr4 ,durbin1 ,mr4 ,coons1 ,mr4 ,udall of ,colorado1 ,mr4 ,menendez1 ,mr4 ,begich1 ,mr4 ,kaine1 ,mr4 ,warner1 ,mr4 ,walsh1 ,ms4 ,baldwin1 ,mr4 ,heinrich1 ,mr4 ,carper1 ,mr4 ,blumenthal1 ,mr4 ,schatz1 ,mr4 ,reid1 ,mr4 ,merkley1 ,ms4 ,heitkamp1 ,mr4 ,manchin1 ,mr4 ,murphy1 ,mr4 ,booker1 ,ms4 ,cantwell1 ,mr4 ,levin1 and ,ms4 ,landrieu7 introduced the following bill2 which was read twice and referred to the ,committee on ,rules and ,administration ,a ,,bill ,to amend the ,federal ,election ,campaign ,act of #aiga to provide for additional disclosure requirements for corporations1 labor organizations1 ,super ,p,a,cs and other entities1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,democracy ,is ,strengthened by ,casting ,light ,on ,spending in ,elections ,act of #bjad or the ,,disclose ,act of #bjad4 #b4 ,campaign disbursement reporting 7a7 ,information required ,to be reported 7#a7 ,treatment of functional equivalent of express advocacy as independent expenditure ,subparagraph 7,a7 of section #cja7ag7 of the ,federal ,election ,campaign ,act of #aiga 7#b ,u4,s4,c4 #dca7ag77 is amended to read as follows3 7,a7 that expressly advocates the election or defeat of a clearly identified candidate1 or is the functional equivalent of express advocacy because1 when taken as a whole1 it can be interpreted by a reasonable person only as advocating the election or defeat of a candidate1 taking into account whether the communication involved mentions a candidacy1 a political party1 or a challenger to a candidate1 or takes a position on a candidate's character1 qualifications1 or fitness for office2 and 4 7#b7 ,expansion of period during which communications are treated as electioneering communications ,section #cjd7;f77#c77;,a77i7 of such ,act 7#b ,u4,s4,c4 #dcd7;f77#c77;,a77i77 is amended-- 7,a7 by redesignating subclause 7,,iii7 as subclause 7,,iv72 and 7,b7 by striking subclause 7,,ii7 and inserting the following3 7,,ii7 in the case of a communication which refers to a candidate for an office other than the ,president or ,vice ,president1 is made during the period beginning on ,january #a of the calendar year in which a general or runoff election is held and ending on the date of the general or runoff election 7or in the case of a special election1 during the period beginning on the date on which the announcement with respect to such election is made and ending on the date of the special election72 7,,iii7 in the case of a communication which refers to a candidate for the office of ,president or ,vice ,president1 is made in any ,state during the period beginning #abj days before the first primary election1 caucus1 or preference election held for the selection of delegates to a national nominating convention of a political party is held in any ,state 7or1 if no such election or caucus is held in any ,state1 the first convention or caucus of a political party which has the authority to nominate a candidate for the office of ,president or ,vice ,president7 and ending on the date of the general election2 and 4 7#c7 ,effective date2 transition for electioneering communications made prior to enactment ,the amendment made by paragraph 7#b7 shall apply with respect to communications made on or after ,january #a1 #bjae1 except that no communication which is made prior to such date shall be treated as an electioneering communication under subclause 7,,ii7 or 7,,iii7 of section #cjd7;f77#c77;,a77i7 of the ,federal ,election ,campaign ,act of #aiga 7as amended by paragraph 7#b77 unless the communication would be treated as an electioneering communication under such section if the amendment made by paragraph 7#b7 did not apply4 7b7 ,disclosure requirements for corporations1 labor organizations1 and certain other entities 7#a7 ,in general ,section #cbd of the ,federal ,election ,campaign ,act of #aiga 7#b ,u4,s4,c4 #ddak7 is amended to read as follows3 #cbd4 ,disclosure of campaign-related disbursements by covered organizations 7a7 ,disclosure statement 7#a7 ,in general ,any covered organization that makes campaign-related disbursements aggregating more than #aj1jjj in an election reporting cycle shall1 not later than #bd hours after each disclosure date1 file a statement with the ,commission made under penalty of perjury that contains the information described in paragraph 7#b7-- 7,a7 in the case of the first statement filed under this subsection1 for the period beginning on the first day of the election reporting cycle and ending on the first such disclosure date2 and 7,b7 in the case of any subsequent statement filed under this subsection1 for the period beginning on the previous disclosure date and ending on such disclosure date4 7#b7 ,information described ,the information described in this paragraph is as follows3 7,a7 ,the name of the covered organization and the principal place of business of such organization4 7,b7 ,the amount of each campaign-related disbursement made by such organization during the period covered by the statement of more than #a1jjj1 and the name and address of the person to whom the disbursement was made4 7,c7 ,in the case of a campaign-related disbursement that is not a covered transfer1 the election to which the campaign-related disbursement pertains and if the disbursement is made for a public communication1 the name of any candidate identified in such communication and whether such communication is in support of or in opposition to a candidate4 7,d7 ,a certification by the chief executive officer or person who is the head of the covered organization that the campaign-related disbursement is not made in cooperation1 consultation1 or concert with or at the request or suggestion of a candidate1 authorized committee1 or agent of a candidate1 political party1 or agent of a political party4 7,e7 ,if the covered organization makes campaign-related disbursements using exclusively funds in a segregated bank account consisting of funds that were paid directly to such account by persons other than the covered organization that controls the account1 for each such payment to the account-- 7i7 the name and address of each person who made such payment during the period covered by the statement2 7ii7 the date and amount of such payment2 and 7iii7 the aggregate amount of all such payments made by the person during the period beginning on the first day of the election reporting cycle and ending on the disclosure date2 but only if such payment was made by a person who made payments to the account in an aggregate amount of #aj1jjj or more during the period beginning on the first day of the election reporting cycle and ending on the disclosure date4 7,f7 ,if the covered organization makes campaign-related disbursements using funds other than funds in a segregated bank account described in subparagraph 7,e71 for each payment to the covered organization-- 7i7 the name and address of each person who made such payment during the period covered by the statement2 7ii7 the date and amount of such payment2 and 7iii7 the aggregate amount of all such payments made by the person during the period beginning on the first day of the election reporting cycle and ending on the disclosure date2 but only if such payment was made by a person who made payments to the covered organization in an aggregate amount of #aj1jjj or more during the period beginning on the first day of the election reporting cycle and ending on the disclosure date4 7,g7 ,such other information as required in rules established by the ,commission to promote the purposes of this section4 7#c7 ,exceptions 7,a7 ,amounts received in ordinary course of business ,the requirement to include in a statement filed under paragraph 7#a7 the information described in paragraph 7#b7 shall not apply to amounts received by the covered organization in commercial transactions in the ordinary course of any trade or business conducted by the covered organization or in the form of investments 7other than investments by the principal shareholder in a limited liability corporation7 in the covered organization4 7,b7 ,donor restriction on use of funds ,the requirement to include in a statement submitted under paragraph 7#a7 the information described in subparagraph 7,f7 of paragraph 7#b7 shall not apply if-- 7i7 the person described in such subparagraph prohibited1 in writing1 the use of the payment made by such person for campaign-related disbursements2 and 7ii7 the covered organization agreed to follow the prohibition and deposited the payment in an account which is segregated from any account used to make campaign-related disbursements4 7,c7 ,amounts received from affiliates ,the requirement to include in a statement submitted under paragraph 7#a7 the information described in subparagraph 7,f7 of paragraph 7#b7 shall not apply to any amount which is described in subsection 7f77#c77;,a77i74 7#d7 ,other definitions ,for purposes of this section3 7,a7 ,disclosure date ,the term disclosure date means-- 7i7 the first date during any election reporting cycle by which a person has made campaign-related disbursements aggregating more than #aj1jjj2 and 7ii7 any other date during such election reporting cycle by which a person has made campaign-related disbursements aggregating more than #aj1jjj since the most recent disclosure date for such election reporting cycle4 7,b7 ,election reporting cycle ,the term election reporting cycle means the #b-year period beginning on the date of the most recent general election for ,federal office4 7,c7 ,payment ,the term payment includes any contribution1 donation1 transfer1 payment of dues1 or other payment4 7b7 ,coordination with other provisions 7#a7 ,other reports filed with the ,commission ,information included in a statement filed under this section may be excluded from statements and reports filed under section #cjd4 7#b7 ,treatment as separate segregated fund ,a segregated bank account referred to in subsection 7a77#b77;,e7 may be treated as a separate segregated fund for purposes of section #ebg7;f77#c7 of the ,internal ,revenue ,code of #aihf4 7c7 ,filing ,statements required to be filed under subsection 7a7 shall be subject to the requirements of section #cjd7;d7 to the same extent and in the same manner as if such reports had been required under subsection 7c7 or 7g7 of section #cjd4 7d7 ,campaign-,related disbursement defined ,in this section1 the term campaign-related disbursement means a disbursement by a covered organization for any of the following3 7#a7 ,an independent expenditure consisting of a public communication4 7#b7 ,an electioneering communication1 as defined in section #cjd7;f77#c74 7#c7 ,a covered transfer4 7e7 ,covered organization defined ,in this section1 the term covered organization means any of the following3 7#a7 ,a corporation 7other than an organization described in section #eja7;c77#c7 of the ,internal ,revenue ,code of #aihf74 7#b7 ,an organization described in section #eja7;c7 of such ,code and exempt from taxation under section #eja7;a7 of such ,code 7other than an organization described in section #eja7;c77#c7 of such ,code74 7#c7 ,a labor organization 7as defined in section #caf7;b774 7#d7 ,any political organization under section #ebg of the ,internal ,revenue ,code of #aihf1 other than a political committee under this ,act4 7f7 ,covered transfer defined 7#a7 ,in general ,in this section1 the term covered transfer means any transfer or payment of funds by a covered organization to another person if the covered organization-- 7,a7 designates1 requests1 or suggests that the amounts be used for-- 7i7 campaign-related disbursements 7other than covered transfers72 or 7ii7 making a transfer to another person for the purpose of making or paying for such campaign-related disbursements2 7,b7 made such transfer or payment in response to a solicitation or other request for a donation or payment for-- 7i7 the making of or paying for campaign-related disbursements 7other than covered transfers72 or 7ii7 making a transfer to another person for the purpose of making or paying for such campaign-related disbursements2 7,c7 engaged in discussions with the recipient of the transfer or payment regarding-- 7i7 the making of or paying for campaign-related disbursements 7other than covered transfers72 or 7ii7 donating or transferring any amount of such transfer or payment to another person for the purpose of making or paying for such campaign-related disbursements2 7,d7 made campaign-related disbursements 7other than a covered transfer7 in an aggregate amount of #ej1jjj or more during the #b-year period ending on the date of the transfer or payment1 or knew or had reason to know that the person receiving the transfer or payment made such disbursements in such an aggregate amount during that #b-year period2 or 7,e7 knew or had reason to know that the person receiving the transfer or payment would make campaign-related disbursements in an aggregate amount of #ej1jjj or more during the #b-year period beginning on the date of the transfer or payment4 7#b7 ,exclusions ,the term covered transfer does not include any of the following3 7,a7 ,a disbursement made by a covered organization in a commercial transaction in the ordinary course of any trade or business conducted by the covered organization or in the form of investments made by the covered organization4 7,b7 ,a disbursement made by a covered organization if-- 7i7 the covered organization prohibited1 in writing1 the use of such disbursement for campaign-related disbursements2 and 7ii7 the recipient of the disbursement agreed to follow the prohibition and deposited the disbursement in an account which is segregated from any account used to make campaign-related disbursements4 7#c7 ,exception for certain transfers among affiliates 7,a7 ,exception for certain transfers among affiliates 7i7 ,in general ,the term covered transfer does not include an amount transferred by one covered organization to another covered organization if such transfer-- 7,i7 is not made directly into a separate segregated bank account described in subsection 7a77#b77;,e72 and 7,,ii7 is treated as a transfer between affiliates under subparagraph 7,b74 7ii7 ,special rule ,if the aggregate amount of transfers described in clause 7i7 exceeds #ej1jjj in any election reporting cycle-- 7,i7 the covered organization which makes such transfers shall provide to the covered organization receiving such transfers the information required under subsection 7a77#b77;,f7 7applied by substituting the period beginning on the first day of the election reporting cycle and ending on the date of the most recent transfer described in subsection 7f77#c77;,a77i7 for the period covered by the statement in clause 7i7 thereof72 and 7,,ii7 the covered organization receiving such transfers shall report the information described in subclause 7,i7 on any statement filed under subsection 7a77#a7 as if any contribution1 donation1 or transfer to which such information relates was made directly to the covered organization receiving the transfer4 7,b7 ,description of transfers between affiliates ,a transfer of amounts from one covered organization to another covered organization shall be treated as a transfer between affiliates if-- 7i7 one of the organizations is an affiliate of the other organization2 or 7ii7 each of the organizations is an affiliate of the same organization2 except that the transfer shall not be treated as a transfer between affiliates if one of the organizations is established for the purpose of making campaign-related disbursements4 7,c7 ,determination of affiliate status ,for purposes of this paragraph1 the following organizations shall be considered to be affiliated with each other3 7i7 ,a membership organization1 including a trade or professional association1 and the related ,state and local entities of that organization4 7ii7 ,a national or international labor organization and its ,state or local unions1 or an organization of national or international unions and its ,state and local entities4 7iii7 ,a corporation and its wholly owned subsidiaries4 7,d7 ,coverage of transfers to affiliated section #eja7;c77#c7 organizations ,this paragraph shall apply with respect to an amount transferred by a covered organization to an organization described in paragraph 7#c7 of section #eja7;c7 of the ,internal ,revenue ,code of #aihf and exempt from tax under section #eja7;a7 of such ,code in the same manner as this paragraph applies to an amount transferred by a covered organization to another covered organization4 4 7#b7 ,conforming amendment ,section #cjd7;f77#f7 of such ,act 7#b ,u4,s4,c4 #dcd7 is amended by striking ,any requirement and inserting ,except as provided in section #cbd7;b71 any requirement4 #c4 ,application of disclosure rules to ,super ,p,a,cs 7a7 ,in general ,subsection 7e7 of section #cbd of the ,federal ,election ,campaign ,act of #aiga 7#b ,u4,s4,c4 #ddak71 as amended by section #b1 is amended by adding at the end the following new paragraph3 7#e7 ,a political committee with an account that accepts donations or contributions that do not comply with the contribution limits or source prohibitions under this ,act1 but only with respect to such accounts4 4 7b7 ,conforming amendment ,paragraph 7#d7 of section #cbd7;e7 of such ,act 7#b ,u4,s4,c4 #ddak71 as amended by section #b1 is amended by inserting 7except as provided in paragraph 7#e77 before the period at the end4 #d4 ,severability ,if any provision of this ,act or amendment made by this ,act1 or the application of a provision or amendment to any person or circumstance1 is held to be unconstitutional1 the remainder of this ,act and amendments made by this ,act1 and the application of the provisions and amendment to any person or circumstance1 shall not be affected by the holding4 #e4 ,effective date ,except as provided in section #b7;a77#c71 the amendments made by this ,act shall apply with respect to disbursements made on or after ,january #a1 #bjae1 and shall take effect without regard to whether or not the ,federal ,election ,commission has promulgated regulations to carry out such amendments4