,i #aaeth ,,congress #b;d ,session ,h4 ,r4 #fbci ,,in ,,the ,,house ,,of ,,representatives ,june #bg1 #bjah,mr4 ,cicilline 7for himself1 ,mr4 ,beyer1 ,mr4 ,brendan ,f4 ,boyle of ,pennsylvania1 ,mr4 ,blumenauer1 ,ms4 ,brownley of ,california1 ,mr4 ,capuano1 ,mr4 ,carbajal1 ,mr4 ,carson of ,indiana1 ,ms4 ,castor of ,florida1 ,mr4 ,cohen1 ,mr4 ,connolly1 ,mr4 ,crist1 ,mr4 ,cummings1 ,mrs4 ,davis of ,california1 ,mr4 ,de,fazio1 ,ms4 ,de,gette1 ,ms4 ,del,bene1 ,mr4 ,de,saulnier1 ,mr4 ,deutch1 ,mr4 ,espaillat1 ,ms4 ,esty of ,connecticut1 ,mr4 ,evans1 ,ms4 ,frankel of ,florida1 ,mr4 ,gene ,green of ,texas1 ,mr4 ,gutirrez1 ,mr4 ,hastings1 ,mr4 ,himes1 ,mr4 ,huffman1 ,ms4 ,kaptur1 ,mr4 ,khanna1 ,mr4 ,kihuen1 ,mr4 ,ted ,lieu of ,california1 ,mr4 ,lynch1 ,mrs4 ,lowey1 ,mr4 ,ben ,ray ,lujn of ,new ,mexico1 ,ms4 ,michelle ,lujan ,grisham of ,new ,mexico1 ,ms4 ,jackson ,lee1 ,mr4 ,langevin1 ,mr4 ,larson of ,connecticut1 ,mrs4 ,lawrence1 ,ms4 ,jayapal1 ,mr4 ,jeffries1 ,ms4 ,matsui1 ,mr4 ,sean ,patrick ,maloney of ,new ,york1 ,mr4 ,mc,govern1 ,ms4 ,meng1 ,mr4 ,meeks1 ,mr4 ,nadler1 ,ms4 ,norton1 ,mr4 ,norcross1 ,mr4 ,o',halleran1 ,mr4 ,pallone1 ,mr4 ,panetta1 ,mr4 ,perlmutter1 ,ms4 ,pingree1 ,mr4 ,pocan1 ,mr4 ,price of ,north ,carolina1 ,mr4 ,raskin1 ,miss ,rice of ,new ,york1 ,mr4 ,richmond1 ,mr4 ,ryan of ,ohio1 ,mr4 ,sarbanes1 ,ms4 ,schakowsky1 ,ms4 ,shea-,porter1 ,mr4 ,sires1 ,mr4 ,soto1 ,ms4 ,speier1 ,mr4 ,swalwell of ,california1 ,mr4 ,takano1 ,mr4 ,thompson of ,california1 ,mr4 ,tonko1 ,ms4 ,velzquez1 ,ms4 ,wasserman ,schultz1 ,mrs4 ,watson ,coleman1 ,mr4 ,welch1 ,ms4 ,wilson of ,florida1 ,mr4 ,yarmuth1 ,ms4 ,bonamici1 ,mr4 ,neal1 ,ms4 ,maxine ,waters of ,california1 ,ms4 ,sewell of ,alabama1 ,mr4 ,mc,nerney1 ,mr4 ,schiff1 ,mr4 ,heck1 ,mrs4 ,napolitano1 ,ms4 ,barragn1 ,ms4 ,mc,collum1 ,ms4 ,clark of ,massachusetts1 ,mrs4 ,bustos1 ,mr4 ,clyburn1 ,ms4 ,de,lauro1 ,ms4 ,eshoo1 ,mr4 ,grijalva1 ,mr4 ,higgins of ,new ,york1 ,mr4 ,kilmer1 ,mrs4 ,carolyn ,b4 ,maloney of ,new ,york1 ,mr4 ,quigley1 ,mr4 ,polis1 ,mr4 ,vargas1 ,mrs4 ,demings1 ,mr4 ,bera1 ,mr4 ,gomez1 ,mr4 ,kennedy1 ,mr4 ,walz1 ,mr4 ,lowenthal1 ,mr4 ,schneider1 ,ms4 ,hanabusa1 ,ms4 ,rosen1 ,ms4 ,adams1 ,mr4 ,brown of ,maryland1 ,ms4 ,bass1 ,mr4 ,cleaver1 ,mr4 ,cooper1 ,mr4 ,gottheimer1 ,mr4 ,hoyer1 ,mr4 ,kind1 ,mr4 ,lamb1 ,mr4 ,lewis of ,georgia1 ,mr4 ,moulton1 ,mrs4 ,murphy of ,florida1 ,mr4 ,peterson1 ,ms4 ,snchez1 ,mr4 ,suozzi1 ,mr4 ,veasey1 ,mr4 ,aguilar1 ,mr4 ,crdenas1 ,mr4 ,engel1 ,ms4 ,eddie ,bernice ,johnson of ,texas1 ,mr4 ,keating1 ,ms4 ,kuster of ,new ,hampshire1 ,mr4 ,larsen of ,washington1 ,ms4 ,lee1 ,mr4 ,levin1 ,mr4 ,peters1 ,mr4 ,serrano1 ,mrs4 ,torres1 ,ms4 ,pelosi1 ,mr4 ,al ,green of ,texas1 ,mr4 ,garamendi1 ,mr4 ,ellison1 ,ms4 ,blunt ,rochester1 ,ms4 ,clarke of ,new ,york1 ,ms4 ,moore1 ,mr4 ,ruiz1 ,mr4 ,nolan1 ,mrs4 ,dingell1 ,mr4 ,loebsack1 ,ms4 ,judy ,chu of ,california1 ,mr4 ,kildee1 ,mr4 ,o',rourke1 ,mr4 ,mc,eachin1 ,mr4 ,delaney1 ,ms4 ,gabbard1 ,mr4 ,castro of ,texas1 ,ms4 ,kelly of ,illinois1 ,mr4 ,krishnamoorthi1 ,mr4 ,lawson of ,florida1 ,ms4 ,lofgren1 ,mr4 ,sherman1 and ,mr4 ,correa7 introduced the following bill2 which was referred to the ,committee on ,house ,administration1 and in addition to the ,committees on ,ways and ,means1 ,financial ,services1 and ,oversight and ,government ,reform1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,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 title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,democracy ,is ,strengthened by ,casting ,light ,on ,spending in ,elections ,act of #bjah or the ,,disclose ,act of #bjah4 7b7 ,table of contents ,the table of contents of this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4 ,,title ,i--,regulation of certain political spending ,sec4 #aja4 ,application of ban on contributions and expenditures by foreign nationals to domestic corporations that are foreign-controlled1 foreign-influenced1 and foreign-owned4 ,sec4 #ajb4 ,clarification of application of foreign money ban to certain disbursements and activities4 ,,title ,,ii--,campaign disbursement reporting ,sec4 #bja4 ,campaign disbursement reporting4 ,sec4 #bjb4 ,effective date4 ,,title ,,iii--,stand ,by ,your ,ad ,sec4 #cja4 ,stand ,by ,your ,ad4 ,,title ,,iv--,use of funds ,sec4 #dja4 ,repeal of restrictions on use of certain funds4 ,,title ,v--,other provisions ,sec4 #eja4 ,severability4 ,i ,regulation of certain political spending #aja4 ,application of ban on contributions and expenditures by foreign nationals to domestic corporations that are foreign-controlled1 foreign-influenced1 and foreign-owned 7a7 ,application of ban ,section #cai7;b7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjaba7;b77 is amended-- 7#a7 by striking or at the end of paragraph 7#a72 7#b7 by striking the period at the end of paragraph 7#b7 and inserting 2 or2 and 7#c7 by adding at the end the following new paragraph3 7#c7 any corporation which is not a foreign national described in paragraph 7#a7 and-- 7,a7 in which a foreign national described in paragraph 7#a7 or 7#b7 directly or indirectly owns or controls-- 7i7 #e percent or more of the voting shares1 if the foreign national is a foreign country1 a foreign government official1 or a corporation principally owned or controlled by a foreign country or foreign government official2 or 7ii7 #bj percent or more of the voting shares1 if the foreign national is not described in clause 7i72 7,b7 in which two or more foreign nationals described in paragraph 7#a7 or 7#b71 each of whom owns or controls at least #e percent of the voting shares1 directly or indirectly own or control #ej percent or more of the voting shares2 7,c7 over which one or more foreign nationals described in paragraph 7#a7 or 7#b7 has the power to direct1 dictate1 or control the decisionmaking process of the corporation with respect to its interests in the ,united ,states2 or 7,d7 over which one or more foreign nationals described in paragraph 7#a7 or 7#b7 has the power to direct1 dictate1 or control the decisionmaking process of the corporation with respect to activities in connection with a ,federal1 ,state1 or local election1 including-- 7i7 the making of a contribution1 donation1 expenditure1 independent expenditure1 or disbursement for an electioneering communication 7within the meaning of section #cjd7;f77#c772 or 7ii7 the administration of a political committee established or maintained by the corporation4 4 7b7 ,certification of ,compliance ,section #cai of such ,act 7#eb ,u4,s4,c4 #cjaba7 is amended by adding at the end the following new subsection3 7c7 ,certification of compliance required prior ,to carrying out activity ,prior to the making in connection with an election for ,federal office of any contribution1 donation1 expenditure1 independent expenditure1 or disbursement for an electioneering communication by a corporation during a year1 the chief executive officer of the corporation 7or1 if the corporation does not have a chief executive officer1 the highest ranking official of the corporation71 shall file a certification with the ,commission1 under penalty of perjury1 that the corporation is not prohibited from carrying out such activity under subsection 7b77#c71 unless the chief executive officer has previously filed such a certification during that calendar year4 4 7c7 ,effective date ,the amendments made by this section shall take effect upon the expiration of the #ahj-;day period which begins on the date of the enactment of this ,act1 and shall take effect without regard to whether or not the ,federal ,election ,commission has promulgated regulations to carry out such amendments4 #ajb4 ,clarification of application of foreign money ban to certain disbursements and activities 7a7 ,application to disbursements to ,super ,p,a,cs ,section #cai7;a77#a77;,a7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjaba7;a77#a77;,a77 is amended by striking the semicolon and inserting the following3 1 including any disbursement to a political committee which accepts donations or contributions that do not comply with the limitations1 prohibitions1 and reporting requirements of this ,act 7or any disbursement to or on behalf of any account of a political committee which is established for the purpose of accepting such donations or contributions724 7b7 ,conditions under which corporate ,p,a,cs may make contributions and expenditures ,section #caf7;b7 of such ,act 7#eb ,u4,s4,c4 #cjaah7;b77 is amended by adding at the end the following new paragraph3 7#h7 ,a separate segregated fund established by a corporation may not make a contribution or expenditure during a year unless the fund has certified to the ,commission the following during the year3 7,a7 ,each individual who manages the fund1 and who is responsible for exercising decisionmaking authority for the fund1 is a citizen of the ,united ,states or is lawfully admitted for permanent residence in the ,united ,states4 7,b7 ,no foreign national under section #cai participates in any way in the decisionmaking processes of the fund with regard to contributions or expenditures under this ,act4 7,c7 ,the fund does not solicit or accept recommendations from any foreign national under section #cai with respect to the contributions or expenditures made by the fund4 7,d7 ,any member of the board of directors of the corporation who is a foreign national under section #cai abstains from voting on matters concerning the fund or its activities4 4 ,,ii ,campaign disbursement reporting #bja4 ,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#eb ,u4,s4,c4 #cjaja7ag77 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#eb ,u4,s4,c4 #cjajd7;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 #bjai1 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#eb ,u4,s4,c4 #cjabf7 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 organization and1 in the case of a covered organization that is a corporation 7other than a business concern that is an issuer of a class of securities registered under section #ab of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghl7 or that is required to file reports under section #ae7;d7 of that ,act 7#ae ,u4,s4,c4 #gho7d777 or an entity described in subsection 7e77#b71 a list of the beneficial owners 7as defined in paragraph 7#d77;,a77 of the entity that-- 7i7 identifies each beneficial owner by name and current residential or business street address2 and 7ii7 if any beneficial owner exercises control over the entity through another legal entity1 such as a corporation1 partnership1 limited liability company1 or trust1 identifies each such other legal entity and each such beneficial owner who will use that other entity to exercise control over the entity4 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 date1 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 date1 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 ,beneficial owner defined 7i7 ,in general ,except as provided in clause 7ii71 the term beneficial owner means1 with respect to any entity1 a natural person who1 directly or indirectly-- 7,i7 exercises substantial control over an entity through ownership1 voting rights1 agreement1 or otherwise2 or 7,,ii7 has a substantial interest in or receives substantial economic benefits from the assets of an entity4 7ii7 ,exceptions ,the term beneficial owner shall not include-- 7,i7 a minor child2 7,,ii7 a person acting as a nominee1 intermediary1 custodian1 or agent on behalf of another person2 7,,iii7 a person acting solely as an employee of an entity and whose control over or economic benefits from the entity derives solely from the employment status of the person2 7,,iv7 a person whose only interest in an entity is through a right of inheritance1 unless the person also meets the requirements of clause 7i72 or 7,v7 a creditor of an entity1 unless the creditor also meets the requirements of clause 7i74 7iii7 ,anti-abuse rule ,the exceptions under clause 7ii7 shall not apply if used for the purpose of evading1 circumventing1 or abusing the provisions of clause 7i7 or paragraph 7#b77;,a74 7,b7 ,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,c7 ,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,d7 ,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 7#a7 ,in general ,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 7#b7 ,intent not required ,a disbursement for an item described in subparagraph 7,a71 7,b71 or 7,c7 of paragraph 7#a7 shall be treated as a campaign-related disbursement regardless of the intent of the person making the disbursement4 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 ,a limited liability corporation that is not otherwise treated as a corporation for purposes of this ,act 7other than an organization described in section #eja7;c77#c7 of the ,internal ,revenue ,code of #aihf74 7#c7 ,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#d7 ,a labor organization 7as defined in section #caf7;b774 7#e7 ,any political organization under section #ebg of the ,internal ,revenue ,code of #aihf1 other than a political committee under this ,act 7except as provided in paragraph 7#f774 7#f7 ,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 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 organization1 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#eb ,u4,s4,c4 #cjajd7 is amended by striking ,any requirement and inserting ,except as provided in section #cbd7;b71 any requirement4 7#c7 ,coordination with ,fin,c,e,n 7,a7 ,in general ,the ,director of the ,financial ,crimes ,enforcement ,network of the ,department of the ,treasury shall provide the ,federal ,election ,commission with such information as necessary to assist in administering and enforcing section #cbd of the ,federal ,election ,campaign ,act of #aiga1 as added by this subsection4 7,b7 ,report ,not later than #f months after the date of the enactment of this ,act1 the ,chairman of the ,federal ,election ,commission1 in consultation with the ,director of the ,financial ,crimes ,enforcement ,network of the ,department of the ,treasury1 shall submit to ,congress a report with recommendations for providing further legislative authority to assist in the administration and enforcement of such section #cbd4 #bjb4 ,effective date ,except as provided in section #bja7;a77#c71 the amendments made by this title shall apply with respect to disbursements made on or after ,january #a1 #bjai1 and shall take effect without regard to whether or not the ,federal ,election ,commission has promulgated regulations to carry out such amendments4 ,,iii ,stand ,by ,your ,ad #cja4 ,stand ,by ,your ,ad 7a7 ,disclaimer requirements for campaign-,related disbursements ,section #cah7;a7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjabj7;a77 is amended by striking for the purpose of financing communications expressly advocating the election or defeat of a clearly identified candidate and inserting for a campaign-related disbursement1 as defined in section #cbd1 consisting of a public communication4 7b7 ,stand ,by ,your ,ad requirements 7#a7 ,maintenance of requirements for political parties and certain political committees ,section #cah7;d77#b7 of such ,act 7#eb ,u4,s4,c4 #cjabj7;d77#b77 is amended-- 7,a7 in the heading1 by striking others and inserting certain political committees2 7,b7 by striking ,any communication and inserting 7,a7 ,any communication2 7,c7 by inserting which 7except to the extent provided in the last sentence of this paragraph7 is paid for by a political committee 7including a political committee of a political party7 and after subsection 7a72 7,d7 by striking or other person each place it appears2 and 7,e7 by adding at the end the following new subparagraph3 7,b7 ,this paragraph does not apply to a communication paid for in whole or in part with a payment which is treated as a campaign-related disbursement under section #cbd and with respect to which a covered organization files a statement under such section4 4 7#b7 ,modification of additional requirements for certain communications ,section #cah7;d7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjabj7;d77 is amended-- 7,a7 in paragraph 7#a77;,a7-- 7i7 by striking which is transmitted through radio and inserting which is in an audio format2 and 7ii7 by striking ,by radio in the heading and inserting ,audio format2 7,b7 in paragraph 7#a77;,b7-- 7i7 by striking which is transmitted through television and inserting which is in video format2 and 7ii7 by striking ,by television in the heading and inserting ,video format2 and 7,c7 in paragraph 7#b7-- 7i7 by striking transmitted through radio or television and inserting made in audio or video format2 and 7ii7 by striking through television in the second sentence and inserting in video format4 7#c7 ,special disclaimer requirements for certain communications ,section #cah of such ,act 7#eb ,u4,s4,c4 #cjabj7 is amended by adding at the end the following new subsection3 7e7 ,communications by others 7#a7 ,in general ,any communication described in paragraph 7#c7 of subsection 7a7 which is transmitted in audio or video format 7other than a communication to which subsection 7d77#b7 applies7 shall include1 in addition to the requirements of such paragraph1 the following3 7,a7 ,the individual disclosure statement described in paragraph 7#b77;,a7 7if the person paying for the communication is an individual7 or the organizational disclosure statement described in paragraph 7#b77;,b7 7if the person paying for the communication is not an individual74 7,b7 ,if the communication is transmitted in video format and is paid for in whole or in part with a payment which is treated as a campaign-related disbursement under section #cbd1 the ,top ,five ,funders list 7if applicable71 unless1 on the basis of criteria established in regulations issued by the ,commission1 the communication is of such short duration that including the ,top ,five ,funders list in the communication would constitute a hardship to the person paying for the communication by requiring a disproportionate amount of the content of the communication to consist of the ,top ,five ,funders list4 7,c7 ,if the communication is transmitted in audio format and is paid for in whole or in part with a payment which is treated as a campaign-related disbursement under section #cbd1 the ,top ,two ,funders list 7if applicable71 unless1 on the basis of criteria established in regulations issued by the ,commission1 the communication is of such short duration that including the ,top ,two ,funders list in the communication would constitute a hardship to the person paying for the communication by requiring a disproportionate amount of the content of the communication to consist of the ,top ,two ,funders list4 7#b7 ,disclosure statements described 7,a7 ,individual disclosure statements ,the individual disclosure statement described in this subparagraph is the following3 ,i am 1 and ,i approve this message41 with the blank filled in with the name of the applicable individual4 7,b7 ,organizational disclosure statements ,the organizational disclosure statement described in this subparagraph is the following3 ,i am 1 the of 1 and approves this message41 with-- 7i7 the first blank to be filled in with the name of the applicable individual2 7ii7 the second blank to be filled in with the title of the applicable individual2 and 7iii7 the third and fourth blank each to be filled in with the name of the organization or other person paying for the communication4 7#c7 ,method of conveyance of statement 7,a7 ,communications in audio format ,in the case of a communication to which this subsection applies which is transmitted in audio format1 the disclosure statements required under paragraph 7#a7 shall be made by audio by the applicable individual in a clearly spoken manner4 7,b7 ,communications transmitted in video format ,in the case of a communication to which this subsection applies which is transmitted in video format1 the information required under paragraph 7#a7-- 7i7 shall appear in writing at the end of the communication or in a crawl along the bottom of the communication in a clearly readable manner1 with a reasonable degree of color contrast between the background and the printed statement1 for a period of at least #f seconds2 and 7ii7 shall also be conveyed by an unobscured1 full-screen view of the applicable individual or by the applicable individual making the statement in voice-over accompanied by a clearly identifiable photograph or similar image of the individual1 except in the case of a ,top ,five ,funders list4 7#d7 ,definitions ,in this subsection3 7,a7 ,applicable individual ,the term applicable individual means1 with respect to a communication to which this subsection applies-- 7i7 if the communication is paid for by an individual1 the individual involved2 7ii7 if the communication is paid for by a corporation1 the chief executive officer of the corporation 7or1 if the corporation does not have a chief executive officer1 the highest ranking official of the corporation72 and 7iii7 if the communication is paid for by a labor organization1 trade association1 or any other organization1 the highest ranking officer or official of the organization4 7,b7 ,covered organization and campaign-related disbursement ,the terms campaign-related disbursement and covered organization have the meaning given such terms in section #cbd4 7,c7 ,top ,five ,funders list ,the term ,top ,five ,funders list means1 with respect to a communication paid for in whole or in part with a payment which is treated as a campaign-related disbursement under section #cbd1 a list of the five persons who provided the largest payments of any type in an aggregate amount equal to or exceeding #aj1jjj which are required under section #cbd7;a7 to be included in the reports filed by a covered organization with respect to such communication during the #ab-month period ending on the date of the disbursement and the amount of the payments each such person provided4 ,if two or more people provided the fifth largest of such payments1 the covered organization involved shall select one of those persons to be included on the ,top ,five ,funders list4 7,d7 ,top ,two ,funders list ,the term ,top ,two ,funders list means1 with respect to a communication paid for in whole or in part with a payment which is treated as a campaign-related disbursement under section #cbd1 a list of the persons who provided the largest and the second largest payments of any type in an aggregate amount equal to or exceeding #aj1jjj which are required under section #cbd7;a7 to be included in the reports filed by a covered organization with respect to such communication during the #ab-month period ending on the date of the disbursement and the amount of the payments each such person provided4 ,if two or more persons provided the second largest of such payments1 the covered organization involved shall select one of those persons to be included on the ,top ,two ,funders list4 4 7#d7 ,clarification related to ,internet communications ,section #cah of such ,act 7#eb ,u4,s4,c4 #cjabj71 as amended by paragraph 7#c71 is amended by adding at the end the following new subsection3 7f7 ,audio and video formats ,for purposes of this section1 any reference to a communication transmitted in audio format or video format shall include a reference to a communication transmitted over the ,internet in such format4 4 7c7 ,disclosure ,requirements for ,campaign ,communications ,made ,through ,prerecorded ,telephone ,calls 7#a7 ,application of requirements ,section #cah7;a7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjabj7;a77 is amended by inserting after mailing1 each place it appears the following3 telephone call which consists in substantial part of a prerecorded audio message14 7#b7 ,treatment as audio communication 7,a7 ,communications by candidates or authorized persons ,section #cah7;d77#a7 of such ,act 7#eb ,u4,s4,c4 #cjabj7;d77#a77 is amended by adding at the end the following new subparagraph3 7,c7 ,prerecorded telephone calls ,any communication described in paragraph 7#a7 or 7#b7 of subsection 7a7 which is a telephone call which consists in substantial part of a prerecorded audio message shall meet the requirements applicable under subparagraph 7,a7 to communications transmitted in an audio format1 except that the statement required under such subparagraph shall be made at the beginning of the telephone call4 4 7,b7 ,communications by others 7i7 ,in general ,section #cah7;d77#b7 of such ,act 7#eb ,u4,s4,c4 #cjabj7;d77#b771 as amended by subsection 7b77#a71 is further amended-- 7,i7 by redesignating subparagraph 7,b7 as subparagraph 7,c72 and 7,,ii7 by inserting after subparagraph 7,a7 the following new subparagraph3 7,b7 ,any communication described in paragraph 7#c7 of subsection 7a7 which is a telephone call which consists in substantial part of a prerecorded audio message shall meet the requirements applicable under this paragraph to communications transmitted in an audio format1 except that the statement required shall be made at the beginning of the telephone call4 4 7ii7 ,application of special personal disclosure rules for certain communications ,section #cah7;e7 of such ,act1 as added by subsection 7b77#c71 is amended-- 7,i7 in paragraph 7#a7 in the matter preceding subparagraph 7,a71 by striking audio or video format and inserting audio or video format1 or which is a telephone call which consists in substantial part of a prerecorded audio message12 and 7,,ii7 in paragraph 7#c71 by adding at the end the following new subparagraph3 7,c7 ,communications made through prerecorded telephone calls ,any communication to which this paragraph applies which is a telephone call which consists in substantial part of a prerecorded audio message shall meet the requirements applicable under this paragraph to communications transmitted in audio format4 4 7d7 ,effective date ,the amendments made by this section shall apply with respect to disbursements made on or after ,january #a1 #bjai4 ,,iv ,use of funds #dja4 ,repeal of restrictions on use of certain funds ,the following provisions of the ,consolidated ,appropriations ,act1 #bjah are repealed3 7#a7 ,section #abe of ,division ,e4 7#b7 ,section #fca of ,division ,e4 7#c7 ,section #gce of ,division ,e4 ,v ,other provisions #eja4 ,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