,i #aafth ,,congress #ast ,session ,h4 ,r4 #bigg ,,in ,,the ,,house ,,of ,,representatives ,may #bc1 #bjai,mr4 ,cicilline 7for himself1 ,mr4 ,aguilar1 ,mr4 ,allred1 ,mrs4 ,axne1 ,ms4 ,barragn1 ,ms4 ,bass1 ,mrs4 ,beatty1 ,mr4 ,bera1 ,mr4 ,beyer1 ,mr4 ,blumenauer1 ,ms4 ,blunt ,rochester1 ,ms4 ,bonamici1 ,mr4 ,brendan ,f4 ,boyle of ,pennsylvania1 ,mr4 ,brindisi1 ,mr4 ,brown of ,maryland1 ,ms4 ,brownley of ,california1 ,mrs4 ,bustos1 ,mr4 ,carbajal1 ,mr4 ,crdenas1 ,mr4 ,case1 ,mr4 ,casten of ,illinois1 ,ms4 ,castor of ,florida1 ,ms4 ,judy ,chu of ,california1 ,mr4 ,cisneros1 ,ms4 ,clark of ,massachusetts1 ,ms4 ,clarke of ,new ,york1 ,mr4 ,cleaver1 ,mr4 ,cohen1 ,mr4 ,cooper1 ,mr4 ,courtney1 ,mr4 ,cox of ,california1 ,mrs4 ,craig1 ,mr4 ,crist1 ,mr4 ,crow1 ,mr4 ,cunningham1 ,ms4 ,davids of ,kansas1 ,mrs4 ,davis of ,california1 ,ms4 ,dean1 ,mr4 ,de,fazio1 ,ms4 ,de,gette1 ,ms4 ,de,lauro1 ,ms4 ,del,bene1 ,mr4 ,delgado1 ,mrs4 ,demings1 ,mr4 ,de,saulnier1 ,mr4 ,deutch1 ,mrs4 ,dingell1 ,mr4 ,doggett1 ,mr4 ,engel1 ,ms4 ,escobar1 ,ms4 ,eshoo1 ,mr4 ,espaillat1 ,ms4 ,finkenauer1 ,ms4 ,frankel1 ,ms4 ,gabbard1 ,mr4 ,gallego1 ,mr4 ,garamendi1 ,mr4 ,garca of ,illinois1 ,mr4 ,golden1 ,mr4 ,gomez1 ,mr4 ,green of ,texas1 ,mr4 ,grijalva1 ,ms4 ,haaland1 ,mr4 ,harder of ,california1 ,mr4 ,hastings1 ,mrs4 ,hayes1 ,mr4 ,heck1 ,mr4 ,higgins of ,new ,york1 ,ms4 ,hill of ,california1 ,mr4 ,himes1 ,ms4 ,kendra ,s4 ,horn of ,oklahoma1 ,mr4 ,horsford1 ,ms4 ,houlahan1 ,mr4 ,huffman1 ,ms4 ,jackson ,lee1 ,ms4 ,jayapal1 ,ms4 ,johnson of ,texas1 ,mr4 ,johnson of ,georgia1 ,ms4 ,kaptur1 ,ms4 ,kelly of ,illinois1 ,mr4 ,khanna1 ,mr4 ,kildee1 ,mr4 ,kilmer1 ,mr4 ,kim1 ,mr4 ,kind1 ,mrs4 ,kirkpatrick1 ,mr4 ,krishnamoorthi1 ,ms4 ,kuster of ,new ,hampshire1 ,mr4 ,lamb1 ,mr4 ,langevin1 ,mr4 ,larson of ,connecticut1 ,mrs4 ,lawrence1 ,ms4 ,lee of ,california1 ,mrs4 ,lee of ,nevada1 ,mr4 ,levin of ,michigan1 ,mr4 ,levin of ,california1 ,mr4 ,lipinski1 ,mr4 ,loebsack1 ,mr4 ,lowenthal1 ,mrs4 ,lowey1 ,mr4 ,lujn1 ,mrs4 ,luria1 ,mr4 ,lynch1 ,mr4 ,malinowski1 ,mrs4 ,carolyn ,b4 ,maloney of ,new ,york1 ,mr4 ,sean ,patrick ,maloney of ,new ,york1 ,ms4 ,matsui1 ,mr4 ,mc,adams1 ,mrs4 ,mc,bath1 ,ms4 ,mc,collum1 ,mr4 ,mc,eachin1 ,mr4 ,mc,govern1 ,mr4 ,meeks1 ,mr4 ,morelle1 ,mr4 ,moulton1 ,ms4 ,mucarsel-,powell1 ,mrs4 ,murphy1 ,mr4 ,nadler1 ,mrs4 ,napolitano1 ,mr4 ,neguse1 ,mr4 ,norcross1 ,ms4 ,norton1 ,mr4 ,o',halleran1 ,ms4 ,omar1 ,mr4 ,pallone1 ,mr4 ,panetta1 ,mr4 ,pappas1 ,mr4 ,pascrell1 ,mr4 ,peters1 ,mr4 ,phillips1 ,mr4 ,pocan1 ,ms4 ,porter1 ,ms4 ,pressley1 ,mr4 ,price of ,north ,carolina1 ,mr4 ,quigley1 ,miss ,rice of ,new ,york1 ,mr4 ,rose of ,new ,york1 ,mr4 ,rouda1 ,ms4 ,roybal-,allard1 ,mr4 ,ruiz1 ,mr4 ,ryan1 ,ms4 ,snchez1 ,mr4 ,sarbanes1 ,ms4 ,scanlon1 ,ms4 ,schakowsky1 ,mr4 ,schiff1 ,mr4 ,schrader1 ,ms4 ,schrier1 ,mr4 ,schneider1 ,mr4 ,scott of ,virginia1 ,mr4 ,david ,scott of ,georgia1 ,mr4 ,serrano1 ,ms4 ,sherrill1 ,mr4 ,sires1 ,mr4 ,smith of ,washington1 ,ms4 ,spanberger1 ,ms4 ,speier1 ,mr4 ,stanton1 ,ms4 ,stevens1 ,mr4 ,suozzi1 ,mr4 ,swalwell of ,california1 ,mr4 ,takano1 ,mr4 ,thompson of ,california1 ,ms4 ,tlaib1 ,ms4 ,torres ,small of ,new ,mexico1 ,mrs4 ,trahan1 ,mr4 ,van ,drew1 ,mr4 ,vargas1 ,ms4 ,velzquez1 ,mrs4 ,watson ,coleman1 ,mr4 ,welch1 ,ms4 ,wild1 and ,mr4 ,yarmuth7 introduced the following bill2 which was referred to the ,committee on ,house ,administration1 and in addition to the ,committee on ,ways and ,means1 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 #bjai or the ,,disclose ,act of #bjai4 7b7 ,table of contents ,the table of contents of this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4 ,,title ,i--,,disclose ,act ,subtitle ,a--,regulation of ,certain ,political ,spending ,sec4 #aja4 ,clarification of prohibition on participation by foreign nationals in election-related activities4 ,sec4 #ajb4 ,clarification of application of foreign money ban to certain disbursements and activities4 ,sec4 #ajc4 ,audit and report on illicit foreign money in ,federal elections4 ,sec4 #ajd4 ,prohibition on contributions and donations by foreign nationals in connections with ballot initiatives and referenda4 ,sec4 #aje4 ,disbursements and activities subject to foreign money ban4 ,subtitle ,b--,reporting of ,campaign-,related ,disbursements ,sec4 #aaa4 ,reporting of campaign-related disbursements4 ,sec4 #aab4 ,application of foreign money ban to disbursements for campaign-related disbursements consisting of covered transfers4 ,sec4 #aac4 ,effective date4 ,,title ,,ii--,stand by ,every ,ad ,act ,sec4 #bja4 ,short title4 ,sec4 #bjb4 ,stand ,by ,every ,ad4 ,sec4 #bjc4 ,disclaimer requirements for communications made through prerecorded telephone calls4 ,sec4 #bjd4 ,no expansion of persons subject to disclaimer requirements on ,internet communications4 ,sec4 #bje4 ,effective date4 ,,title ,,iii--,other provisions ,sec4 #cja4 ,severability4 ,i ,,disclose ,act ,a ,regulation of ,certain ,political ,spending #aja4 ,clarification of prohibition on participation by foreign nationals in election-related activities 7a7 ,clarification of prohibition ,section #cai7;a7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjaba7;a77 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 a foreign national to direct1 dictate1 control1 or directly or indirectly participate in the decision making process of any person 7including a corporation1 labor organization1 political committee1 or political organization7 with regard to such person's ,federal or non-,federal election-related activity1 including any decision concerning the making of contributions1 donations1 expenditures1 or disbursements in connection with an election for any ,federal1 ,state1 or local office or any decision concerning the administration of a political committee4 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 corporation1 limited liability corporation1 or partnership during a year1 the chief executive officer of the corporation1 limited liability corporation1 or partnership 7or1 if the corporation1 limited liability corporation1 or partnership does not have a chief executive officer1 the highest ranking official of the corporation1 limited liability corporation1 or partnership71 shall file a certification with the ,commission1 under penalty of perjury1 that a foreign national did not direct1 dictate1 control1 or directly or indirectly participate in the decision making process relating to such activity in violation of subsection 7a77#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 #ajc4 ,audit and report on illicit foreign money in ,federal elections 7a7 ,in general ,title ,,iii of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjaja et seq47 is amended by inserting after section #cai the following new section3 #cai;,a4 ,audit and report on disbursements by foreign nationals 7a7 ,audit 7#a7 ,in general ,the ,commission shall conduct an audit after each ,federal election cycle to determine the incidence of illicit foreign money in such ,federal election cycle4 7#b7 ,procedures ,in carrying out paragraph 7#a71 the ,commission shall conduct random audits of any disbursements required to be reported under this ,act1 in accordance with procedures established by the ,commission4 7b7 ,report ,not later than #ahj days after the end of each ,federal election cycle1 the ,commission shall submit to ,congress a report containing-- 7#a7 results of the audit required by subsection 7a77#a72 and 7#b7 recommendations to address the presence of illicit foreign money in elections1 as appropriate4 7c7 ,definitions ,as used in this section3 7#a7 ,the term ,federal election cycle means the period which begins on the day after the date of a regularly scheduled general election for ,federal office and which ends on the date of the first regularly scheduled general election for ,federal office held after such date4 7#b7 ,the term illicit foreign money means any disbursement by a foreign national 7as defined in section #cai7;b77 prohibited under such section4 4 7b7 ,effective date ,the amendment made by subsection 7a7 shall apply with respect to the ,federal election cycle that began during ,november #bjah1 and each succeeding ,federal election cycle4 #ajd4 ,prohibition on contributions and donations by foreign nationals in connections with ballot initiatives and referenda 7a7 ,in general ,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 election2 and inserting the following3 election1 including a ,state or local ballot initiative or referendum24 7b7 ,effective date ,the amendment made by this section shall apply with respect to elections held in #bjbj or any succeeding year4 #aje4 ,disbursements and activities subject to foreign money ban 7a7 ,disbursements described ,section #cai7;a77#a7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjaba7;a77#a77 is amended-- 7#a7 by striking or at the end of subparagraph 7,b72 and 7#b7 by striking subparagraph 7,c7 and inserting the following3 7,c7 an expenditure2 7,d7 an independent expenditure2 7,e7 a disbursement for an electioneering communication 7within the meaning of section #cjd7;f77#c772 7,f7 a disbursement for a paid internet or paid digital communication that refers to a clearly identified candidate for election for ,federal office and is disseminated within #fj days before a general1 special or runoff election for the office sought by the candidate or #cj days before a primary or preference election1 or a convention or caucus of a political party that has authority to nominate a candidate for the office sought by the candidate2 7,g7 a disbursement for a broadcast1 cable or satellite communication1 or for a paid internet or paid digital communication1 that promotes1 supports1 attacks or opposes the election of a clearly identified candidate for ,federal1 ,state1 or local office 7regardless of whether the communication contains express advocacy or the functional equivalent of express advocacy7 and is for the purpose of influencing an election2 or 7,h7 a disbursement for a broadcast1 cable1 or satellite communication1 or for any communication which is placed or promoted for a fee on an online platform1 that discusses a national legislative issue of public importance in a year in which a regularly scheduled general election for ,federal office is held1 but only if the disbursement is made by a foreign principal who is a government of a foreign country or a foreign political party or an agent of such a foreign principal under the ,foreign ,agents ,registration ,act of #aich1 as amended4 4 7b7 ,effective date ,the amendments made by subsection 7a7 shall apply with respect to disbursements made on or after the date of the enactment of this ,act4 ,b ,reporting of ,campaign-,related ,disbursements #aaa4 ,reporting of campaign-related disbursements 7a7 ,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 7or1 if earlier1 the period beginning one year before the first such disclosure date7 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 7i7 ,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-- 7,i7 the name and address of each person who made such payment during the period covered by the statement2 7,,ii7 the date and amount of such payment2 and 7,,iii7 the aggregate amount of all such payments made by the person during the period beginning on the first day of the election reporting cycle 7or1 if earlier1 the period beginning one year before the disclosure date7 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 7or1 if earlier1 the period beginning one year before the disclosure date7 and ending on the disclosure date4 7ii7 ,in any calendar year after #bjbj1 section #cae7;c77#a77;,b7 shall apply to the amount described in clause 7i7 in the same manner as such section applies to the limitations established under subsections 7a77#a77;,a71 7a77#a77;,b71 7a77#c71 and 7h7 of such section1 except that for purposes of applying such section to the amounts described in subsection 7b71 the base period shall be #bjbj4 7,f7 7i7 ,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-- 7,i7 the name and address of each person who made such payment during the period covered by the statement2 7,,ii7 the date and amount of such payment2 and 7,,iii7 the aggregate amount of all such payments made by the person during the period beginning on the first day of the election reporting cycle 7or1 if earlier1 the period beginning one year before the disclosure date7 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 7or1 if earlier1 the period beginning one year before the disclosure date7 and ending on the disclosure date4 7ii7 ,in any calendar year after #bjbj1 section #cae7;c77#a77;,b7 shall apply to the amount described in clause 7i7 in the same manner as such section applies to the limitations established under subsections 7a77#a77;,a71 7a77#a77;,b71 7a77#c71 and 7h7 of such section1 except that for purposes of applying such section to the amounts described in subsection 7b71 the base period shall be #bjbj4 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 ,for purposes of this subparagraph1 amounts received by a covered organization as remittances from an employee to the employee's collective bargaining representative shall be treated as amounts received in commercial transactions in the ordinary course of the business conducted by 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 ,threat of harassment or reprisal ,the requirement to include any information relating to the name or address of any person 7other than a candidate7 in a statement submitted under paragraph 7#a7 shall not apply if the inclusion of the information would subject the person to serious threats1 harassment1 or reprisals4 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 which expressly advocates the election or defeat of a clearly identified candidate for election for ,federal office1 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 candidate for election for ,federal office4 7,b7 ,any public communication which refers to a clearly identified candidate for election for ,federal office and which promotes or supports the election of a candidate for that office1 or attacks or opposes the election of a candidate for that office1 without regard to whether the communication expressly advocates a vote for or against a candidate for that office4 7,c7 ,an electioneering communication1 as defined in section #cjd7;f77#c74 7,d7 ,a covered transfer4 7#b7 ,intent not required ,a disbursement for an item described in subparagraph 7,a71 7,b71 7,c71 or 7,d7 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 ,special rule regarding transfers among affiliates 7,a7 ,special rule ,a transfer of an amount by one covered organization to another covered organization which is treated as a transfer between affiliates under subparagraph 7,c7 shall be considered a covered transfer by the covered organization which transfers the amount only if the aggregate amount transferred during the year by such covered organization to that same covered organization is equal to or greater than #ej1jjj4 7,b7 ,determination of amount of certain payments among affiliates ,in determining the amount of a transfer between affiliates for purposes of subparagraph 7,a71 to the extent that the transfer consists of funds attributable to dues1 fees1 or assessments which are paid by individuals on a regular1 periodic basis in accordance with a per-individual calculation which is made on a regular basis1 the transfer shall be attributed to the individuals paying the dues1 fees1 or assessments and shall not be attributed to the covered organization4 7,c7 ,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,d7 ,determination of affiliate status ,for purposes of subparagraph 7,c71 a covered organization is an affiliate of another covered organization if-- 7i7 the governing instrument of the organization requires it to be bound by decisions of the other organization2 7ii7 the governing board of the organization includes persons who are specifically designated representatives of the other organization or are members of the governing board1 officers1 or paid executive staff members of the other organization1 or whose service on the governing board is contingent upon the approval of the other organization2 or 7iii7 the organization is chartered by the other organization4 7,e7 ,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 7g7 ,no effect on other reporting requirements ,nothing in this section shall be construed to waive or otherwise affect any other requirement of this ,act which relates to the reporting of campaign-related disbursements4 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 7b7 ,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 section4 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 #aab4 ,application of foreign money ban to disbursements for campaign-related disbursements consisting of covered transfers ,section #cai7;a77#a77;,a7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjaba7;a77#a77;,a771 as amended by section #ajb1 is amended by striking the semicolon and inserting the following3 1 and any disbursement1 other than a disbursement described in section #cbd7;a77#c77;,a71 to another person who made a campaign-related disbursement consisting of a covered transfer 7as described in section #cbd7 during the #b-year period ending on the date of the disbursement24 #aac4 ,effective date ,the amendments made by this subtitle shall apply with respect to disbursements made on or after ,january #a1 #bjbj1 and shall take effect without regard to whether or not the ,federal ,election ,commission has promulgated regulations to carry out such amendments4 ,,ii ,stand by ,every ,ad ,act #bja4 ,short title ,this title may be cited as the ,stand ,by ,every ,ad ,act4 #bjb4 ,stand ,by ,every ,ad 7a7 ,expanded disclaimer requirements for certain communications ,section #cah of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjabj7 is amended by adding at the end the following new subsection3 7e7 ,expanded disclaimer requirements for communications not authorized by candidates or committees 7#a7 ,in general ,except as provided in paragraph 7#f71 any communication described in paragraph 7#c7 of subsection 7a7 which is transmitted in an audio or video format 7including an ,internet or digital communication71 or which is an ,internet or digital communication transmitted in a text or graphic format1 shall include1 in addition to the requirements of paragraph 7#c7 of subsection 7a71 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 a video format1 or is an ,internet or digital communication which is transmitted in a text or graphic format1 and is paid for in whole or in part with a payment which is treated as a campaign-related disbursement under section #cbd-- 7i7 the ,top ,five ,funders list 7if applicable72 or 7ii7 in the case of a communication which1 as determined on the basis of criteria established in regulations issued by the ,commission1 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 list1 the name of a website which contains the ,top ,five ,funders list 7if applicable7 or1 in the case of an ,internet or digital communication1 a hyperlink to such website4 7,c7 ,if the communication is transmitted in an audio format and is paid for in whole or in part with a payment which is treated as a campaign-related disbursement under section #cbd-- 7i7 the ,top ,two ,funders list 7if applicable72 or 7ii7 in the case of a communication which1 as determined on the basis of criteria established in regulations issued by the ,commission1 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 list1 the name of a website which contains the ,top ,two ,funders list 7if applicable74 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 text or graphic format ,in the case of a communication to which this subsection applies which is transmitted in a text or graphic format1 the disclosure statements required under paragraph 7#a7 shall appear in letters at least as large as the majority of the text in the communication4 7,b7 ,communications transmitted in audio format ,in the case of a communication to which this subsection applies which is transmitted in an audio format1 the disclosure statements required under paragraph 7#a7 shall be made by audio by the applicable individual in a clear and conspicuous manner4 7,c7 ,communications transmitted in video format ,in the case of a communication to which this subsection applies which is transmitted in a 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 clear and conspicuous 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 ,applicable individual defined ,the term applicable individual means1 with respect to a communication to which this subsection applies-- 7,a7 if the communication is paid for by an individual1 the individual involved2 7,b7 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 7,c7 if the communication is paid for by a labor organization1 the highest ranking officer of the labor organization2 and 7,d7 if the communication is paid for by any other person1 the highest ranking official of such person4 7#e7 ,top ,five ,funders list and ,top ,two ,funders list defined 7,a7 ,top ,five ,funders list ,the term ,top ,five ,funders list means1 with respect to a communication which is paid for in whole or in part with a campaign-related disbursement 7as defined in section #cbd71 a list of the five persons who1 during the #ab-month period ending on the date of the disbursement1 provided the largest payments of any type in an aggregate amount equal to or exceeding #aj1jjj to the person who is paying for the communication and the amount of the payments each such person provided4 ,if two or more people provided the fifth largest of such payments1 the person paying for the communication shall select one of those persons to be included on the ,top ,five ,funders list4 7,b7 ,top ,two ,funders list ,the term ,top ,two ,funders list means1 with respect to a communication which is paid for in whole or in part with a campaign-related disbursement 7as defined in section #cbd71 a list of the persons who1 during the #ab-month period ending on the date of the disbursement1 provided the largest and the second largest payments of any type in an aggregate amount equal to or exceeding #aj1jjj to the person who is paying for the communication and the amount of the payments each such person provided4 ,if two or more persons provided the second largest of such payments1 the person paying for the communication shall select one of those persons to be included on the ,top ,two ,funders list4 7,c7 ,exclusion of certain payments ,for purposes of subparagraphs 7,a7 and 7,b71 in determining the amount of payments made by a person to a person paying for a communication1 there shall be excluded the following3 7i7 ,any amounts provided in the ordinary course of any trade or business conducted by the person paying for the communication or in the form of investments in the person paying for the communication4 7ii7 ,any payment which the person prohibited1 in writing1 from being used for campaign-related disbursements1 but only if the person paying for the communication 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#f7 ,special rules for certain communications 7,a7 ,exception for communications paid for by political parties and certain political committees ,this subsection does not apply to any communication to which subsection 7d77#b7 applies4 7,b7 ,treatment of video communications lasting #aj seconds or less ,in the case of a communication to which this subsection applies which is transmitted in a video format1 or is an ,internet or digital communication which is transmitted in a text or graphic format1 the communication shall meet the following requirements3 7i7 ,the communication shall include 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 7ii7 ,the statement described in clause 7i7 shall appear in writing at the end of the communication1 or in a crawl along the bottom of the communication1 in a clear and conspicuous manner1 with a reasonable degree of color contrast between the background and the printed statement1 for a period of at least #d seconds4 7iii7 ,the communication shall include1 in a clear and conspicuous manner1 a website address with a landing page which will provide all of the information described in paragraph 7#a7 with respect to the communication4 ,such address shall appear for the full duration of the communication4 7iv7 ,to the extent that the format in which the communication is made permits the use of a hyperlink1 the communication shall include a hyperlink to the website address described in clause 7iii74 4 7b7 ,application of expanded requirements to public communications consisting of campaign-,related disbursements ,section #cah7;a7 of such ,act 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 7c7 ,exception for communications paid for by 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 subparagraph 7,b77 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 7i7 ,this paragraph does not apply to a communication paid for in whole or in part during a calendar year with a campaign-related disbursement1 but only if the covered organization making the campaign-related disbursement made campaign-related disbursements 7as defined in section #cbd7 aggregating more than #aj1jjj during such calendar year4 7ii7 ,for purposes of clause 7i71 in determining the amount of campaign-related disbursements made by a covered organization during a year1 there shall be excluded the following3 7,i7 ,any amounts received by the covered organization in the ordinary course of any trade or business conducted by the covered organization or in the form of investments in the covered organization4 7,,ii7 ,any amounts received by the covered organization from a person who prohibited1 in writing1 the organization from using such amounts for campaign-related disbursements1 but only if the covered organization agreed to follow the prohibition and deposited the amounts in an account which is segregated from any account used to make campaign-related disbursements4 4 #bjc4 ,disclaimer requirements for communications made through prerecorded telephone calls 7a7 ,application of requirements 7#a7 ,in general ,section #cah7;a7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjabj7;a77 is amended by inserting after 8mailing10 each place it appears the following3 8telephone call which consists in substantial part of a prerecorded audio message104 7#b7 ,application to communications subject to expanded disclaimer requirements ,section #cah7;e77#a7 of such ,act 7#eb ,u4,s4,c4 #cjabj7;e77#a771 as added by section #bjb7;a71 is amended in the matter preceding subparagraph 7,a7 by striking which is transmitted in an audio or video format and inserting which is transmitted in an audio or video format or which consists of a telephone call consisting in substantial part of a prerecorded audio message4 7b7 ,treatment as communication transmitted in audio format 7#a7 ,communications by candidates or authorized persons ,section #cah7;d7 of such ,act 7#eb ,u4,s4,c4 #cjabj7;d77 is amended by adding at the end the following new paragraph3 7#c7 ,prerecorded telephone calls ,any communication described in paragraph 7#a71 7#b71 or 7#c7 of subsection 7a7 7other than a communication which is subject to subsection 7e77 which is a telephone call consisting in substantial part of a prerecorded audio message shall include1 in addition to the requirements of such paragraph1 the audio statement required under subparagraph 7,a7 of paragraph 7#a7 or the audio statement required under paragraph 7#b7 7whichever is applicable71 except that the statement shall be made at the beginning of the telephone call4 4 7#b7 ,communications subject to expanded disclaimer requirements ,section #cah7;e77#c7 of such ,act 7#eb ,u4,s4,c4 #cjabj7;e77#c771 as added by section #bjb7;a71 is amended by adding at the end the following new subparagraph3 7,d7 ,prerecorded telephone calls ,in the case of a communication to which this subsection applies which is a telephone call consisting in substantial part of a prerecorded audio message1 the communication shall be considered to be transmitted in an audio format4 4 #bjd4 ,no expansion of persons subject to disclaimer requirements on ,internet communications ,nothing in this title or the amendments made by this title may be construed to require any person who is not required under section #cah of the ,federal ,election ,campaign ,act of #aiga 7as provided under section #aaj4aa of title #aa of the ,code of ,federal ,regulations7 to include a disclaimer on communications made by the person through the internet to include any disclaimer on any such communications4 #bje4 ,effective date ,the amendments made by this title shall apply with respect to communications made on or after ,january #a1 #bjbj1 and shall take effect without regard to whether or not the ,federal ,election ,commission has promulgated regulations to carry out such amendments4 ,,iii ,other provisions #cja4 ,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