,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #aadg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #aa1 #bjai ,mr4 
,:iteh\se 7= himself1 ,mr4 ,wyd51 ,mr4  
,s*um]1 ,mr4 ,van ,holl51 ,mr4 ,leahy1  
,mrs4 ,fe9/e91 ,mrs4 ,murray1 ,mr4      
,durb91 ,mr4 ,re$1 ,mr4 ,c>p]1 ,ms4     
,/ab5[1 ,ms4 ,cantwell1 ,mr4 ,m55dez1   
,mr4 ,c>d91 ,mr4 ,s&]s1 ,mr4 ,br[n1 ,mr4
 ,casey1 ,ms4 ,klobu*>1 ,mr4 ,te/]1 ,mr4
 ,udall1 ,mrs4 ,%ahe51 ,mr4 ,w>n]1 ,mr4 
,m]kley1 ,mr4 ,b5net1 ,mrs4 ,gillibr&1  
,mr4 ,coons1 ,mr4 ,blum5?al1 ,mr4       
,s*atz1 ,ms4 ,baldw91 ,mr4 ,murphy1 ,ms4
 ,hirono1 ,mr4 ,he9ri*1 ,mr4 ,k+1 ,mr4  
,ka9e1 ,ms4 ,w>r51 ,mr4 ,m>key1 ,mr4    
,book]1 ,mr4 ,pet]s1 ,ms4 ,duckwor?1    
,ms4 ,hassan1 ,ms4 ,h>ris1 ,ms4 ,cortez 
,ma/o1 ,ms4 ,smi?1 ,mr4 ,jones1 & ,ms4  
,ros57 introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,rules & ,adm9i/ration  ,a ,,bill  ,to  
am5d ! ,f$]al ,election ,campaign ,act (
 #aiga to provide = additional          
disclosure requirem5ts = corporations1  

labor organizations1 ,sup] ,p,a,cs & o!r
 entities1 & = o!r purposes  #a4 ,%ort  
title2 table ( cont5ts  7a7 ,%ort title 
,?is ,act may be cit$ z ! ,democracy ,is
 ,/r5g!n$ by ,ca/+ ,light ,on ,sp5d+ 9  
,elections ,act ( #bjai or ! ,,disclose 
,act ( #bjai4  7b7 ,table ( cont5ts ,!  
table ( cont5ts ( ?is ,act is z foll[s3 
,sec4 #a4 ,%ort title2 table ( cont5ts4 
,,title ,i--,,disclose ,act ,subtitle   
,a--,regulation ( ,c]ta9 ,political     
,sp5d+ ,sec4 #aja4 ,cl>ification (      
prohibition on p>ticipation by =eign    
nationals 9 election-relat$ activities4 
,sec4 #ajb4 ,cl>ification ( application 
( =eign money ban to c]ta9 disbursem5ts 
& activities4 ,sec4 #ajc4 ,audit &      
report on illicit =eign money 9 ,f$]al  
elections4 ,sec4 #ajd4 ,prohibition on  
contributions & donations by =eign      
nationals 9 connections ) ballot        
initiatives & ref]5da4 ,sec4 #aje4      
,disbursem5ts & activities subject to   
=eign money ban4 ,subtitle ,b--,report+ 
( ,campaign-,relat$ ,disbursem5ts ,sec4 

#aaa4 ,report+ ( campaign-relat$        
disbursem5ts4 ,sec4 #aab4 ,application (
 =eign money ban to disbursem5ts =      
campaign-relat$ disbursem5ts consi/+ (  
cov]$ transf]s4 ,sec4 #aac4 ,effective  
date4 ,,title ,,ii--,/& by ,e ,ad ,act  
,sec4 #bja4 ,%ort title4 ,sec4 #bjb4 ,/&
 ,by ,e ,ad4 ,sec4 #bjc4 ,disclaim]     
requirem5ts = communications made ?r\gh 
pr]ecord$ telephone calls4 ,sec4 #bjd4  
,no expansion ( p]sons subject to       
disclaim] requirem5ts on ,int]net       
communications4 ,sec4 #bje4 ,effective  
date4 ,,title ,,iii--,o!r provisions    
,sec4 #cja4 ,sev]ability4  ,i ,,disclose
 ,act  ,a ,regulation ( ,c]ta9          
,political ,sp5d+  #aja4 ,cl>ification (
 prohibition on p>ticipation by =eign   
nationals 9 election-relat$ activities  
7a7 ,cl>ification ( prohibition ,section
 #cai7;a7 ( ! ,f$]al ,election ,campaign
 ,act ( #aiga 7#eb ,u4,s4,c4 #cjaba7;a77
 is am5d$--  7#a7 by /rik+ or at ! end (
 p>agraph 7#a72  7#b7 by /rik+ ! p]iod  
at ! end ( p>agraph 7#b7 & ins]t+ 2 or2 

&  7#c7 by add+ at ! end ! foll[+ new   
p>agraph3  7#c7 a =eign national to     
direct1 dictate1 control1 or directly or
 indirectly p>ticipate 9 ! decision mak+
 process ( any p]son 7includ+ a         
corporation1 labor organization1        
political committee1 or political       
organization7 ) reg>d to su* p]son's    
,f$]al or non-,f$]al election-relat$    
activity1 includ+ any decision conc]n+ !
 mak+ ( contributions1 donations1       
exp5ditures1 or disbursem5ts 9          
connection ) an election = any ,f$]al1  
,/ate1 or local (fice or any decision   
conc]n+ ! adm9i/ration ( a political    
committee4  4  7b7 ,c]tification (      
,compliance ,section #cai ( su* ,act    
7#eb ,u4,s4,c4 #cjaba7 is am5d$ by add+ 
at ! end ! foll[+ new subsection3  7c7  
,c]tification ( compliance requir$ prior
 ,to c>ry+ out activity ,prior to ! mak+
 9 connection ) an election = ,f$]al    
(fice ( any contribution1 donation1     
exp5diture1 indep5d5t exp5diture1 or    
disbursem5t = an electione]+            

communication by a corporation1 limit$  
liability corporation1 or p>tn]%ip dur+ 
a ye>1 ! *ief executive (fic] ( !       
corporation1 limit$ liability           
corporation1 or p>tn]%ip 7or1 if !      
corporation1 limit$ liability           
corporation1 or p>tn]%ip does n h a *ief
 executive (fic]1 ! highe/ rank+ (ficial
 ( ! corporation1 limit$ liability      
corporation1 or p>tn]%ip71 %all file a  
c]tification ) ! ,commission1 "u p5alty 
( p]jury1 t a =eign national did n      
direct1 dictate1 control1 or directly or
 indirectly p>ticipate 9 ! decision mak+
 process relat+ to su* activity 9       
violation ( subsection 7a77#c71 unless !
 *ief executive (fic] has previ\sly fil$
 su* a c]tification dur+ t cal5d> ye>4  
4  7c7 ,effective date ,! am5dm5ts made 
by ?is section %all take effect ^u !    
expiration ( ! #ahj-;day p]iod :i* beg9s
 on ! date ( ! enactm5t ( ?is ,act1 &   
%all take effect )\t reg>d to :e!r or n 
! ,f$]al ,election ,commission has      
promulgat$ regulations to c>ry out su*  

am5dm5ts4  #ajb4 ,cl>ification (        
application ( =eign money ban to c]ta9  
disbursem5ts & activities  7a7          
,application to disbursem5ts to ,sup]   
,p,a,cs ,section #cai7;a77#a77;,a7 ( !  
,f$]al ,election ,campaign ,act ( #aiga 
7#eb ,u4,s4,c4 #cjaba7;a77#a77;,a77 is  
am5d$ by /rik+ ! semicolon & ins]t+ !   
foll[+3 1 includ+ any disbursem5t to a  
political committee :i* accepts         
donations or contributions t d n comply 
) ! limitations1 prohibitions1 & report+
 requirem5ts ( ?is ,act 7or any         
disbursem5t to or on behalf ( any acc\nt
 ( a political committee :i* is e/abli%$
 = ! purpose ( accept+ su* donations or 
contributions724  7b7 ,conditions "u :i*
 corporate ,p,a,cs may make             
contributions & exp5ditures ,section    
#caf7;b7 ( su* ,act 7#eb ,u4,s4,c4      
#cjaah7;b77 is am5d$ by add+ at ! end ! 
foll[+ new p>agraph3  7#h7 ,a sep>ate   
segregat$ fund e/abli%$ by a corporation
 may n make a contribution or exp5diture
 dur+ a ye> unless ! fund has c]tifi$ to

 ! ,commission ! foll[+ dur+ ! ye>3     
7,a7 ,ea* individual :o manages ! fund1 
& :o is responsible = ex]cis+           
decisionmak+ au?ority = ! fund1 is a    
citiz5 ( ! ,unit$ ,/ates or is lawfully 
admitt$ = p]man5t resid5ce 9 ! ,unit$   
,/ates4  7,b7 ,no =eign national "u     
section #cai p>ticipates 9 any way 9 !  
decisionmak+ processes ( ! fund ) reg>d 
to contributions or exp5ditures "u ?is  
,act4  7,c7 ,! fund does n solicit or   
accept recomm5dations f any =eign       
national "u section #cai ) respect to ! 
contributions or exp5ditures made by !  
fund4  7,d7 ,any memb] ( ! bo>d (       
directors ( ! corporation :o is a =eign 
national "u section #cai ab/a9s f vot+  
on matt]s conc]n+ ! fund or its         
activities4  4  #ajc4 ,audit & report on
 illicit =eign money 9 ,f$]al elections 
7a7 ,9 g5]al ,title ,,iii ( ! ,f$]al    
,election ,campaign ,act ( #aiga 7#eb   
,u4,s4,c4 #cjaja et seq47 is am5d$ by   
ins]t+ aft] section #cai ! foll[+ new   
section3  #cai;,a4 ,audit & report on   

disbursem5ts by =eign nationals  7a7    
,audit  7#a7 ,9 g5]al ,! ,commission    
%all conduct an audit aft] ea* ,f$]al   
election cycle to det]m9e ! incid5ce (  
illicit =eign money 9 su* ,f$]al        
election cycle4  7#b7 ,proc$ures ,9     
c>ry+ out p>agraph 7#a71 ! ,commission  
%all conduct r&om audits ( any          
disbursem5ts requir$ to be report$ "u   
?is ,act1 9 accordance ) proc$ures      
e/abli%$ by ! ,commission4  7b7 ,report 
,n lat] ?an #ahj days aft] ! end ( ea*  
,f$]al election cycle1 ! ,commission    
%all submit to ,congress a report       
conta9+--  7#a7 results ( ! audit       
requir$ by subsection 7a77#a72 &  7#b7  
recomm5dations to address ! pres5ce (   
illicit =eign money 9 elections1 z      
appropriate4  7c7 ,def9itions ,z us$ 9  
?is section3  7#a7 ,! t]m ,f$]al        
election cycle means ! p]iod :i* beg9s  
on ! day aft] ! date ( a regul>ly s*$ul$
 g5]al election = ,f$]al (fice & :i*    
ends on ! date ( ! fir/ regul>ly s*$ul$ 
g5]al election = ,f$]al (fice held aft] 

su* date4  7#b7 ,! t]m illicit =eign    
money means any disbursem5t by a =eign  
national 7z def9$ 9 section #cai7;b77   
prohibit$ "u su* section4  4  7b7       
,effective date ,! am5dm5t made by      
subsection 7a7 %all apply ) respect to !
 ,f$]al election cycle t began dur+     
,novemb] #bjah1 & ea* succe$+ ,f$]al    
election cycle4  #ajd4 ,prohibition on  
contributions & donations by =eign      
nationals 9 connections ) ballot        
initiatives & ref]5da  7a7 ,9 g5]al     
,section #cai7;a77#a77;,a7 ( ! ,f$]al   
,election ,campaign ,act ( #aiga 7#eb   
,u4,s4,c4 #cjaba7;a77#a77;,a77 is am5d$ 
by /rik+ election2 & ins]t+ ! foll[+3   
election1 includ+ a ,/ate or local      
ballot initiative or ref]5dum24  7b7    
,effective date ,! am5dm5t made by ?is  
section %all apply ) respect to         
elections held 9 #bjbj or any succe$+   
ye>4  #aje4 ,disbursem5ts & activities  
subject to =eign money ban  7a7         
,disbursem5ts describ$ ,section         
#cai7;a77#a7 ( ! ,f$]al ,election       

,campaign ,act ( #aiga 7#eb ,u4,s4,c4   
#cjaba7;a77#a77 is am5d$--  7#a7 by     
/rik+ or at ! end ( subp>agraph 7,b72 & 
7#b7 by /rik+ subp>agraph 7,c7 & ins]t+ 
! foll[+3  7,c7 an exp5diture2  7,d7 an 
indep5d5t exp5diture2  7,e7 a           
disbursem5t = an electione]+            
communication 7)9 ! mean+ ( section     
#cjd7;f77#c772  7,f7 a disbursem5t = a  
paid int]net or paid digital            
communication t ref]s to a cle>ly       
id5tifi$ c&idate = election = ,f$]al    
(fice & is dissem9at$ )9 #fj days be=e a
 g5]al1 special1 or run(f election = !  
(fice s\ght by ! c&idate or #cj days    
be=e a prim>y or pref]5ce election1 or a
 conv5tion or caucus ( a political p>ty 
t has au?ority to nom9ate a c&idate = ! 
(fice s\ght by ! c&idate2  7,g7 a       
disbursem5t = a broadca/1 cable1 or     
satellite communication1 or = a paid    
int]net or paid digital communication1 t
 promotes1 supports1 attacks or opposes 
! election ( a cle>ly id5tifi$ c&idate =
 ,f$]al1 ,/ate1 or local (fice          

7reg>dless ( :e!r ! communication       
conta9s express advocacy or ! functional
 equival5t ( express advocacy7 & is = ! 
purpose ( influ5c+ an election2 or  7,h7
 a disbursem5t = a broadca/1 cable1 or  
satellite communication1 or = any       
communication :i* is plac$ or promot$ = 
a fee on an onl9e plat=m1 t discusses a 
national legislative issue ( public     
importance 9 a ye> 9 :i* a regul>ly     
s*$ul$ g5]al election = ,f$]al (fice is 
held1 b only if ! disbursem5t is made by
 a =eign pr9cipal :o is a gov]nm5t ( a  
=eign c\ntry or a =eign political p>ty  
or an ag5t ( su* a =eign pr9cipal "u !  
,=eign ,ag5ts ,regi/ration ,act ( #aich1
 z am5d$4  4  7b7 ,effective date ,!    
am5dm5ts made by subsection 7a7 %all    
apply ) respect to disbursem5ts made on 
or aft] ! date ( ! enactm5t ( ?is ,act4 
,b ,report+ ( ,campaign-,relat$         
,disbursem5ts  #aaa4 ,report+ (         
campaign-relat$ disbursem5ts  7a7       
,disclosure requirem5ts = corporations1 
labor organizations1 & c]ta9 o!r        

entities  7#a7 ,9 g5]al ,section #cbd ( 
! ,f$]al ,election ,campaign ,act (     
#aiga 7#eb ,u4,s4,c4 #cjabf7 is am5d$ to
 read z foll[s3  #cbd4 ,disclosure (    
campaign-relat$ disbursem5ts by cov]$   
organizations  7a7 ,disclosure /atem5t  
7#a7 ,9 g5]al ,any cov]$ organization t 
makes campaign-relat$ disbursem5ts      
aggregat+ m ?an #aj1jjj 9 an election   
report+ cycle %all1 n lat] ?an #bd h\rs 
aft] ea* disclosure date1 file a /atem5t
 ) ! ,commission made "u p5alty ( p]jury
 t conta9s ! in=mation describ$ 9       
p>agraph 7#b7--  7,a7 9 ! case ( ! fir/ 
/atem5t fil$ "u ?is subsection1 = !     
p]iod beg9n+ on ! fir/ day ( ! election 
report+ cycle 7or1 if e>li]1 ! p]iod    
beg9n+ "o ye> be=e ! fir/ su* disclosure
 date7 & end+ on ! fir/ su* disclosure  
date2 &  7,b7 9 ! case ( any subsequ5t  
/atem5t fil$ "u ?is subsection1 = !     
p]iod beg9n+ on ! previ\s disclosure    
date & end+ on su* disclosure date4     
7#b7 ,in=mation describ$ ,! in=mation   
describ$ 9 ?is p>agraph is z foll[s3    

7,a7 ,! "n ( ! cov]$ organization & !   
pr9cipal place ( bus9ess ( su*          
organization &1 9 ! case ( a cov]$      
organization t is a corporation 7o!r ?an
 a bus9ess conc]n t is an issu] ( a     
class ( securities regi/]$ "u section   
#ab ( ! ,securities ,ex*ange ,act (     
#aicd 7#ae ,u4,s4,c4 #ghl7 or t is      
requir$ to file reports "u section      
#ae7;d7 ( t ,act 7#ae ,u4,s4,c4         
#gho7d777 or an entity describ$ 9       
subsection 7e77#b71 a li/ ( ! b5eficial 
own]s 7z def9$ 9 p>agraph 7#d77;,a77 ( !
 entity t--  7i7 id5tifies ea* b5eficial
 own] by "n & curr5t resid5tial or      
bus9ess /reet address2 &  7ii7 if any   
b5eficial own] ex]cises control ov] !   
entity ?r\gh ano!r legal entity1 su* z a
 corporation1 p>tn]%ip1 limit$ liability
 company1 or tru/1 id5tifies ea* su* o!r
 legal entity & ea* su* b5eficial own]  
:o w use t o!r entity to ex]cise control
 ov] ! entity4  7,b7 ,! am\nt ( ea*     
campaign-relat$ disbursem5t made by su* 
organization dur+ ! p]iod cov]$ by !    

/atem5t ( m ?an #a1jjj1 & ! "n & address
 ( ! p]son to :om ! disbursem5t 0 made4 
7,c7 ,9 ! case ( a campaign-relat$      
disbursem5t t is n a cov]$ transf]1 !   
election to :i* ! campaign-relat$       
disbursem5t p]ta9s & if ! disbursem5t is
 made = a public communication1 ! "n (  
any c&idate id5tifi$ 9 su* communication
 & :e!r su* communication is 9 support (
 or 9 opposition to a c&idate4  7,d7 ,a 
c]tification by ! *ief executive (fic]  
or p]son :o is ! head ( ! cov]$         
organization t ! campaign-relat$        
disbursem5t is n made 9 coop]ation1     
consultation1 or conc]t ) or at ! reque/
 or sugge/ion ( a c&idate1 au?oriz$     
committee1 or ag5t ( a c&idate1         
political p>ty1 or ag5t ( a political   
p>ty4  7,e7 7i7 ,if ! cov]$ organization
 makes campaign-relat$ disbursem5ts us+ 
exclusively funds 9 a segregat$ bank    
acc\nt consi/+ ( funds t 7 paid directly
 to su* acc\nt by p]sons o!r ?an ! cov]$
 organization t controls ! acc\nt1 = ea*
 su* paym5t to ! acc\nt--  7,i7 ! "n &  

address ( ea* p]son :o made su* paym5t  
dur+ ! p]iod cov]$ by ! /atem5t2  7,,ii7
 ! date & am\nt ( su* paym5t2 &  7,,iii7
 ! aggregate am\nt ( all su* paym5ts    
made by ! p]son dur+ ! p]iod beg9n+ on !
 fir/ day ( ! election report+ cycle    
7or1 if e>li]1 ! p]iod beg9n+ "o ye>    
be=e ! disclosure date7 & end+ on !     
disclosure date1  b only if su* paym5t 0
 made by a p]son :o made paym5ts to !   
acc\nt 9 an aggregate am\nt ( #aj1jjj or
 m dur+ ! p]iod beg9n+ on ! fir/ day ( !
 election report+ cycle 7or1 if e>li]1 !
 p]iod beg9n+ "o ye> be=e ! disclosure  
date7 & end+ on ! disclosure date4  7ii7
 ,9 any cal5d> ye> aft] #bjbj1 section  
#cae7;c77#a77;,b7 %all apply to ! am\nt 
describ$ 9 clause 7i7 9 ! same mann] z  
su* section applies to ! limitations    
e/abli%$ "u subsections 7a77#a77;,a71   
7a77#a77;,b71 7a77#c71 & 7h7 ( su*      
section1 except t = purposes ( apply+   
su* section to ! am\nts describ$ 9      
subsection 7b71 ! base p]iod %all be    
#bjbj4  7,f7 7i7 ,if ! cov]$            

organization makes campaign-relat$      
disbursem5ts us+ funds o!r ?an funds 9 a
 segregat$ bank acc\nt describ$ 9       
subp>agraph 7,e71 = ea* paym5t to !     
cov]$ organization--  7,i7 ! "n &       
address ( ea* p]son :o made su* paym5t  
dur+ ! p]iod cov]$ by ! /atem5t2  7,,ii7
 ! date & am\nt ( su* paym5t2 &  7,,iii7
 ! aggregate am\nt ( all su* paym5ts    
made by ! p]son dur+ ! p]iod beg9n+ on !
 fir/ day ( ! election report+ cycle    
7or1 if e>li]1 ! p]iod beg9n+ "o ye>    
be=e ! disclosure date7 & end+ on !     
disclosure date1  b only if su* paym5t 0
 made by a p]son :o made paym5ts to !   
cov]$ organization 9 an aggregate am\nt 
( #aj1jjj or m dur+ ! p]iod beg9n+ on ! 
fir/ day ( ! election report+ cycle 7or1
 if e>li]1 ! p]iod beg9n+ "o ye> be=e ! 
disclosure date7 & end+ on ! disclosure 
date4  7ii7 ,9 any cal5d> ye> aft]      
#bjbj1 section #cae7;c77#a77;,b7 %all   
apply to ! am\nt describ$ 9 clause 7i7 9
 ! same mann] z su* section applies to !
 limitations e/abli%$ "u subsections    

7a77#a77;,a71 7a77#a77;,b71 7a77#c71 &  
7h7 ( su* section1 except t = purposes (
 apply+ su* section to ! am\nts describ$
 9 subsection 7b71 ! base p]iod %all be 
#bjbj4  7,g7 ,su* o!r in=mation z       
requir$ 9 rules e/abli%$ by !           
,commission to promote ! purposes ( ?is 
section4  7#c7 ,exceptions  7,a7 ,am\nts
 receiv$ 9 ord9>y c\rse ( bus9ess ,!    
requirem5t to include 9 a /atem5t fil$  
"u p>agraph 7#a7 ! in=mation describ$ 9 
p>agraph 7#b7 %all n apply to am\nts    
receiv$ by ! cov]$ organization 9       
comm]cial transactions 9 ! ord9>y c\rse 
( any trade or bus9ess conduct$ by !    
cov]$ organization or 9 ! =m ( inve/m5ts
 7o!r ?an inve/m5ts by ! pr9cipal       
%>ehold] 9 a limit$ liability           
corporation7 9 ! cov]$ organization4 ,= 
purposes ( ?is subp>agraph1 am\nts      
receiv$ by a cov]$ organization z       
remittances f an employee to !          
employee's collective b>ga9+            
repres5tative %all be treat$ z am\nts   
receiv$ 9 comm]cial transactions 9 !    

ord9>y c\rse ( ! bus9ess conduct$ by !  
cov]$ organization4  7,b7 ,donor        
re/riction on use ( funds ,! requirem5t 
to include 9 a /atem5t submitt$ "u      
p>agraph 7#a7 ! in=mation describ$ 9    
subp>agraph 7,f7 ( p>agraph 7#b7 %all n 
apply if--  7i7 ! p]son describ$ 9 su*  
subp>agraph prohibit$1 9 writ+1 ! use ( 
! paym5t made by su* p]son =            
campaign-relat$ disbursem5ts2 &  7ii7 ! 
cov]$ organization agre$ to foll[ !     
prohibition & deposit$ ! paym5t 9 an    
acc\nt :i* is segregat$ f any acc\nt us$
 to make campaign-relat$ disbursem5ts4  
7,c7 ,?reat ( h>assm5t or reprisal ,!   
requirem5t to include any in=mation     
relat+ to ! "n or address ( any p]son   
7o!r ?an a c&idate7 9 a /atem5t submitt$
 "u p>agraph 7#a7 %all n apply if !     
inclusion ( ! in=mation w\ld subject !  
p]son to s]i\s ?reats1 h>assm5t1 or     
reprisals4  7#d7 ,o!r def9itions ,=     
purposes ( ?is section3 7,a7 ,b5eficial 
own] def9$  7i7 ,9 g5]al ,except z      
provid$ 9 clause 7ii71 ! t]m b5eficial  

own] means1 ) respect to any entity1 a  
natural p]son :o1 directly or           
indirectly--  7,i7 ex]cises sub/antial  
control ov] an entity ?r\gh own]%ip1    
vot+ rights1 agreem5t1 or o!rwise2 or   
7,,ii7 has a sub/antial int]e/ 9 or     
receives sub/antial economic b5efits f !
 assets ( an entity4  7ii7 ,exceptions  
,! t]m b5eficial own] %all n include--  
7,i7 a m9or *ild2  7,,ii7 a p]son act+ z
 a nom9ee1 int]m$i>y1 cu/odian1 or ag5t 
on behalf ( ano!r p]son2  7,,iii7 a     
p]son act+ solely z an employee ( an    
entity & ^: control ov] or economic     
b5efits f ! entity d]ives solely f !    
employm5t /atus ( ! p]son2  7,,iv7 a    
p]son ^: only int]e/ 9 an entity is     
?r\gh a "r ( inh]itance1 unless ! p]son 
also meets ! requirem5ts ( clause 7i72  
or  7,v7 a cr$itor ( an entity1 unless !
 cr$itor also meets ! requirem5ts (     
clause 7i74  7iii7 ,anti-abuse rule ,!  
exceptions "u clause 7ii7 %all n apply  
if us$ = ! purpose ( evad+1 circumv5t+1 
or abus+ ! provisions ( clause 7i7 or   

p>agraph 7#b77;,a74  7,b7 ,disclosure   
date ,! t]m disclosure date means--  7i7
 ! fir/ date dur+ any election report+  
cycle by :i* a p]son has made           
campaign-relat$ disbursem5ts aggregat+ m
 ?an #aj1jjj2 &  7ii7 any o!r date dur+ 
su* election report+ cycle by :i* a     
p]son has made campaign-relat$          
disbursem5ts aggregat+ m ?an #aj1jjj    
s9ce ! mo/ rec5t disclosure date = su*  
election report+ cycle4  7,c7 ,election 
report+ cycle ,! t]m election report+   
cycle means ! #b-ye> p]iod beg9n+ on !  
date ( ! mo/ rec5t g5]al election =     
,f$]al (fice4  7,d7 ,paym5t ,! t]m      
paym5t includes any contribution1       
donation1 transf]1 paym5t ( dues1 or o!r
 paym5t4  7b7 ,coord9ation ) o!r        
provisions  7#a7 ,o!r reports fil$ ) !  
,commission ,in=mation includ$ 9 a      
/atem5t fil$ "u ?is section may be      
exclud$ f /atem5ts & reports fil$ "u    
section #cjd4  7#b7 ,treatm5t z sep>ate 
segregat$ fund ,a segregat$ bank acc\nt 
ref]r$ to 9 subsection 7a77#b77;,e7 may 

be treat$ z a sep>ate segregat$ fund =  
purposes ( section #ebg7;f77#c7 ( !     
,int]nal ,rev5ue ,code ( #aihf4  7c7    
,fil+ ,/atem5ts requir$ to be fil$ "u   
subsection 7a7 %all be subject to !     
requirem5ts ( section #cjd7;d7 to ! same
 ext5t & 9 ! same mann] z if su* reports
 _h be5 requir$ "u subsection 7c7 or 7g7
 ( section #cjd4  7d7 ,campaign-,relat$ 
disbursem5t def9$  7#a7 ,9 g5]al ,9 ?is 
section1 ! t]m campaign-relat$          
disbursem5t means a disbursem5t by a    
cov]$ organization = any ( ! foll[+3    
7,a7 ,an indep5d5t exp5diture :i*       
expressly advocates ! election or defeat
 ( a cle>ly id5tifi$ c&idate = election 
= ,f$]al (fice1 or is ! functional      
equival5t ( express advocacy because1 :5
 tak5 z a :ole1 x c be int]pret$ by a   
reasonable p]son only z advocat+ !      
election or defeat ( a c&idate =        
election = ,f$]al (fice4  7,b7 ,any     
public communication :i* ref]s to a     
cle>ly id5tifi$ c&idate = election =    
,f$]al (fice & :i* promotes or supports 

! election ( a c&idate = t (fice1 or    
attacks or opposes ! election ( a       
c&idate = t (fice1 )\t reg>d to :e!r !  
communication expressly advocates a vote
 = or aga9/ a c&idate = t (fice4  7,c7  
,an electione]+ communication1 z def9$ 9
 section #cjd7;f77#c74  7,d7 ,a cov]$   
transf]4  7#b7 ,int5t n requir$ ,a      
disbursem5t = an item describ$ 9        
subp>agraph 7,a71 7,b71 7,c71 or 7,d7 ( 
p>agraph 7#a7 %all be treat$ z a        
campaign-relat$ disbursem5t reg>dless ( 
! int5t ( ! p]son mak+ ! disbursem5t4   
7e7 ,cov]$ organization def9$ ,9 ?is    
section1 ! t]m cov]$ organization means 
any ( ! foll[+3  7#a7 ,a corporation    
7o!r ?an an organization describ$ 9     
section #eja7;c77#c7 ( ! ,int]nal       
,rev5ue ,code ( #aihf74  7#b7 ,a limit$ 
liability corporation t is n o!rwise    
treat$ z a corporation = purposes ( ?is 
,act 7o!r ?an an organization describ$ 9
 section #eja7;c77#c7 ( ! ,int]nal      
,rev5ue ,code ( #aihf74  7#c7 ,an       
organization describ$ 9 section #eja7;c7

 ( su* ,code & exempt f taxation "u     
section #eja7;a7 ( su* ,code 7o!r ?an an
 organization describ$ 9 section        
#eja7;c77#c7 ( su* ,code74  7#d7 ,a     
labor organization 7z def9$ 9 section   
#caf7;b774  7#e7 ,any political         
organization "u section #ebg ( !        
,int]nal ,rev5ue ,code ( #aihf1 o!r ?an 
a political committee "u ?is ,act       
7except z provid$ 9 p>agraph 7#f774     
7#f7 ,a political committee ) an acc\nt 
t accepts donations or contributions t d
 n comply ) ! contribution limits or    
s\rce prohibitions "u ?is ,act1 b only )
 respect to su* acc\nts4  7f7 ,cov]$    
transf] def9$  7#a7 ,9 g5]al ,9 ?is     
section1 ! t]m cov]$ transf] means any  
transf] or paym5t ( funds by a cov]$    
organization to ano!r p]son if ! cov]$  
organization--  7,a7 designates1        
reque/s1 or sugge/s t ! am\nts be us$   
=--  7i7 campaign-relat$ disbursem5ts   
7o!r ?an cov]$ transf]s72 or  7ii7 mak+ 
a transf] to ano!r p]son = ! purpose (  
mak+ or pay+ = su* campaign-relat$      

disbursem5ts2  7,b7 made su* transf] or 
paym5t 9 response to a solicitation or  
o!r reque/ = a donation or paym5t =--   
7i7 ! mak+ ( or pay+ = campaign-relat$  
disbursem5ts 7o!r ?an cov]$ transf]s72  
or  7ii7 mak+ a transf] to ano!r p]son =
 ! purpose ( mak+ or pay+ = su*         
campaign-relat$ disbursem5ts2  7,c7     
engag$ 9 discussions ) ! recipi5t ( !   
transf] or paym5t reg>d+--  7i7 ! mak+ (
 or pay+ = campaign-relat$ disbursem5ts 
7o!r ?an cov]$ transf]s72 or  7ii7      
donat+ or transf]r+ any am\nt ( su*     
transf] or paym5t to ano!r p]son = !    
purpose ( mak+ or pay+ = su*            
campaign-relat$ disbursem5ts2  7,d7 made
 campaign-relat$ disbursem5ts 7o!r ?an a
 cov]$ transf]7 9 an aggregate am\nt (  
#ej1jjj or m dur+ ! #b-ye> p]iod end+ on
 ! date ( ! transf] or paym5t1 or knew  
or _h reason to "k t ! p]son receiv+ !  
transf] or paym5t made su* disbursem5ts 
9 su* an aggregate am\nt dur+ t #b-ye>  
p]iod2 or  7,e7 knew or _h reason to "k 
t ! p]son receiv+ ! transf] or paym5t   

w\ld make campaign-relat$ disbursem5ts 9
 an aggregate am\nt ( #ej1jjj or m dur+ 
! #b-ye> p]iod beg9n+ on ! date ( !     
transf] or paym5t4  7#b7 ,exclusions ,! 
t]m cov]$ transf] does n include any ( !
 foll[+3  7,a7 ,a disbursem5t made by a 
cov]$ organization 9 a comm]cial        
transaction 9 ! ord9>y c\rse ( any trade
 or bus9ess conduct$ by ! cov]$         
organization or 9 ! =m ( inve/m5ts made 
by ! cov]$ organization4  7,b7 ,a       
disbursem5t made by a cov]$ organization
 if--  7i7 ! cov]$ organization         
prohibit$1 9 writ+1 ! use ( su*         
disbursem5t = campaign-relat$           
disbursem5ts2 &  7ii7 ! recipi5t ( !    
disbursem5t agre$ to foll[ ! prohibition
 & deposit$ ! disbursem5t 9 an acc\nt   
:i* is segregat$ f any acc\nt us$ to    
make campaign-relat$ disbursem5ts4  7#c7
 ,special rule reg>d+ transf]s among    
affiliates  7,a7 ,special rule ,a       
transf] ( an am\nt by "o cov]$          
organization to ano!r cov]$ organization
 :i* is treat$ z a transf] betwe5       

affiliates "u subp>agraph 7,c7 %all be  
consid]$ a cov]$ transf] by ! cov]$     
organization :i* transf]s ! am\nt only  
if ! aggregate am\nt transf]r$ dur+ !   
ye> by su* cov]$ organization to t same 
cov]$ organization is equal to or great]
 ?an #ej1jjj4  7,b7 ,det]m9ation ( am\nt
 ( c]ta9 paym5ts among affiliates ,9    
det]m9+ ! am\nt ( a transf] betwe5      
affiliates = purposes ( subp>agraph     
7,a71 to ! ext5t t ! transf] consi/s (  
funds attributable to dues1 fees1 or    
assessm5ts :i* are paid by individuals  
on a regul>1 p]iodic basis 9 accordance 
) a p]-individual calculation :i* is    
made on a regul> basis1 ! transf] %all  
be attribut$ to ! individuals pay+ !    
dues1 fees1 or assessm5ts & %all n be   
attribut$ to ! cov]$ organization4  7,c7
 ,description ( transf]s betwe5         
affiliates ,a transf] ( am\nts f "o     
cov]$ organization to ano!r cov]$       
organization %all be treat$ z a transf] 
betwe5 affiliates if--  7i7 "o ( !      
organizations is an affiliate ( ! o!r   

organization2 or  7ii7 ea* ( !          
organizations is an affiliate ( ! same  
organization1  except t ! transf] %all n
 be treat$ z a transf] betwe5 affiliates
 if "o ( ! organizations is e/abli%$ = !
 purpose ( mak+ campaign-relat$         
disbursem5ts4  7,d7 ,det]m9ation (      
affiliate /atus ,= purposes (           
subp>agraph 7,c71 a cov]$ organization  
is an affiliate ( ano!r cov]$           
organization if--  7i7 ! gov]n+ in/rum5t
 ( ! organization requires x to be b\nd 
by decisions ( ! o!r organization2  7ii7
 ! gov]n+ bo>d ( ! organization includes
 p]sons :o are specifically designat$   
repres5tatives ( ! o!r organization or  
are memb]s ( ! gov]n+ bo>d1 (fic]s1 or  
paid executive /aff memb]s ( ! o!r      
organization1 or ^: s]vice on ! gov]n+  
bo>d is cont+5t ^u ! approval ( ! o!r   
organization2 or  7iii7 ! organization  
is *>t]$ by ! o!r organization4  7,e7   
,cov]age ( transf]s to affiliat$ section
 #eja7;c77#c7 organizations ,?is        
p>agraph %all apply ) respect to an     

am\nt transf]r$ by a cov]$ organization 
to an organization describ$ 9 p>agraph  
7#c7 ( section #eja7;c7 ( ! ,int]nal    
,rev5ue ,code ( #aihf & exempt f tax "u 
section #eja7;a7 ( su* ,code 9 ! same   
mann] z ?is p>agraph applies to an am\nt
 transf]r$ by a cov]$ organization to   
ano!r cov]$ organization4  7g7 ,no      
effect on o!r report+ requirem5ts ,no?+ 
9 ?is section %all be con/ru$ to waive  
or o!rwise affect any o!r requirem5t (  
?is ,act :i* relates to ! report+ (     
campaign-relat$ disbursem5ts4  4  7#b7  
,con=m+ am5dm5t ,section #cjd7;f77#f7 ( 
su* ,act 7#eb ,u4,s4,c4 #cjajd7 is am5d$
 by /rik+ ,any requirem5t & ins]t+      
,except z provid$ 9 section #cbd7;b71   
any requirem5t4  7b7 ,coord9ation )     
,fin,c,e,n  7#a7 ,9 g5]al ,! ,director (
 ! ,f9ancial ,crimes ,en=cem5t ,network 
( ! ,dep>tm5t ( ! ,treasury %all provide
 ! ,f$]al ,election ,commission ) su*   
in=mation z necess>y to assi/ 9 adm9i/]+
 & en=c+ section #cbd ( ! ,f$]al        
,election ,campaign ,act ( #aiga1 z add$

 by ?is section4  7#b7 ,report ,n lat]  
?an #f mon?s aft] ! date ( ! enactm5t ( 
?is ,act1 ! ,*airman ( ! ,f$]al         
,election ,commission1 9 consultation ) 
! ,director ( ! ,f9ancial ,crimes       
,en=cem5t ,network ( ! ,dep>tm5t ( !    
,treasury1 %all submit to ,congress a   
report ) recomm5dations = provid+ fur!r 
legislative au?ority to assi/ 9 !       
adm9i/ration & en=cem5t ( su* section   
#cbd4  #aab4 ,application ( =eign money 
ban to disbursem5ts = campaign-relat$   
disbursem5ts consi/+ ( cov]$ transf]s   
,section #cai7;a77#a77;,a7 ( ! ,f$]al   
,election ,campaign ,act ( #aiga 7#eb   
,u4,s4,c4 #cjaba7;a77#a77;,a771 z am5d$ 
by section #ajb1 is am5d$ by /rik+ !    
semicolon & ins]t+ ! foll[+3 1 & any    
disbursem5t1 o!r ?an a disbursem5t      
describ$ 9 section #cbd7;a77#c77;,a71 to
 ano!r p]son :o made a campaign-relat$  
disbursem5t consi/+ ( a cov]$ transf] 7z
 describ$ 9 section #cbd7 dur+ ! #b-ye> 
p]iod end+ on ! date ( ! disbursem5t24  
#aac4 ,effective date ,! am5dm5ts made  

by ?is subtitle %all apply ) respect to 
disbursem5ts made on or aft] ,janu>y #a1
 #bjbj1 & %all take effect )\t reg>d to 
:e!r or n ! ,f$]al ,election ,commission
 has promulgat$ regulations to c>ry out 
su* am5dm5ts4  ,,ii ,/& by ,e ,ad ,act  
#bja4 ,%ort title ,?is title may be cit$
 z ! ,/& ,by ,e ,ad ,act4  #bjb4 ,/& ,by
 ,e ,ad  7a7 ,exp&$ disclaim]           
requirem5ts = c]ta9 communications      
,section #cah ( ! ,f$]al ,election      
,campaign ,act ( #aiga 7#eb ,u4,s4,c4   
#cjabj7 is am5d$ by add+ at ! end !     
foll[+ new subsection3  7e7 ,exp&$      
disclaim] requirem5ts = communications n
 au?oriz$ by c&idates or committees     
7#a7 ,9 g5]al ,except z provid$ 9       
p>agraph 7#f71 any communication        
describ$ 9 p>agraph 7#c7 ( subsection   
7a7 :i* is transmitt$ 9 an audio or     
video =mat 7includ+ an ,int]net or      
digital communication71 or :i* is an    
,int]net or digital communication       
transmitt$ 9 a text or graphic =mat1    
%all include1 9 addition to !           

requirem5ts ( p>agraph 7#c7 ( subsection
 7a71 ! foll[+3  7,a7 ,! individual     
disclosure /atem5t describ$ 9 p>agraph  
7#b77;,a7 7if ! p]son pay+ = !          
communication is an individual7 or !    
organizational disclosure /atem5t       
describ$ 9 p>agraph 7#b77;,b7 7if !     
p]son pay+ = ! communication is n an    
individual74  7,b7 ,if ! communication  
is transmitt$ 9 a video =mat1 or is an  
,int]net or digital communication :i* is
 transmitt$ 9 a text or graphic =mat1 & 
is paid = 9 :ole or 9 "p ) a paym5t :i* 
is treat$ z a campaign-relat$           
disbursem5t "u section #cbd--  7i7 !    
,top ,five ,fund]s li/ 7if applicable72 
or  7ii7 9 ! case ( a communication :i*1
 z det]m9$ on ! basis ( crit]ia e/abli%$
 9 regulations issu$ by ! ,commission1  
is ( su* %ort duration t includ+ ! ,top 
,five ,fund]s li/ 9 ! communication w\ld
 con/itute a h>d%ip to ! p]son pay+ = ! 
communication by requir+ a              
disproportionate am\nt ( ! cont5t ( !   
communication to consi/ ( ! ,top ,five  

,fund]s li/1 ! "n ( a website :i*       
conta9s ! ,top ,five ,fund]s li/ 7if    
applicable7 or1 9 ! case ( an ,int]net  
or digital communication1 a hyp]l9k to  
su* website4  7,c7 ,if ! communication  
is transmitt$ 9 an audio =mat & is paid 
= 9 :ole or 9 "p ) a paym5t :i* is      
treat$ z a campaign-relat$ disbursem5t  
"u section #cbd--  7i7 ! ,top ,two      
,fund]s li/ 7if applicable72 or  7ii7 9 
! case ( a communication :i*1 z det]m9$ 
on ! basis ( crit]ia e/abli%$ 9         
regulations issu$ by ! ,commission1 is (
 su* %ort duration t includ+ ! ,top ,two
 ,fund]s li/ 9 ! communication w\ld     
con/itute a h>d%ip to ! p]son pay+ = !  
communication by requir+ a              
disproportionate am\nt ( ! cont5t ( !   
communication to consi/ ( ! ,top ,two   
,fund]s li/1 ! "n ( a website :i*       
conta9s ! ,top ,two ,fund]s li/ 7if     
applicable74  7#b7 ,disclosure /atem5ts 
describ$  7,a7 ,individual disclosure   
/atem5ts ,! individual disclosure       
/atem5t describ$ 9 ?is subp>agraph is ! 

foll[+3 ,i am 1 & ,i approve ?is        
message41 ) ! blank fill$ 9 ) ! "n ( !  
applicable individual4  7,b7            
,organizational disclosure /atem5ts ,!  
organizational disclosure /atem5t       
describ$ 9 ?is subp>agraph is ! foll[+3 
,i am 1 !  ( 1 &  approves ?is message41
 )--  7i7 ! fir/ blank to be fill$ 9 ) !
 "n ( ! applicable individual2  7ii7 !  
second blank to be fill$ 9 ) ! title ( !
 applicable individual2 &  7iii7 ! ?ird 
& f\r? blank ea* to be fill$ 9 ) ! "n ( 
! organization or o!r p]son pay+ = !    
communication4  7#c7 ,me?od ( conveyance
 ( /atem5t  7,a7 ,communications 9 text 
or graphic =mat ,9 ! case ( a           
communication to :i* ?is subsection     
applies :i* is transmitt$ 9 a text or   
graphic =mat1 ! disclosure /atem5ts     
requir$ "u p>agraph 7#a7 %all appe> 9   
lett]s at lea/ z l>ge z ! majority ( !  
text 9 ! communication4  7,b7           
,communications transmitt$ 9 audio =mat 
,9 ! case ( a communication to :i* ?is  
subsection applies :i* is transmitt$ 9  

an audio =mat1 ! disclosure /atem5ts    
requir$ "u p>agraph 7#a7 %all be made by
 audio by ! applicable individual 9 a   
cle> & conspicu\s mann]4  7,c7          
,communications transmitt$ 9 video =mat 
,9 ! case ( a communication to :i* ?is  
subsection applies :i* is transmitt$ 9 a
 video =mat1 ! in=mation requir$ "u     
p>agraph 7#a7--  7i7 %all appe> 9 writ+ 
at ! end ( ! communication or 9 a crawl 
along ! bottom ( ! communication 9 a    
cle> & conspicu\s mann]1 ) a reasonable 
degree ( color contra/ betwe5 !         
backgr\nd & ! pr9t$ /atem5t1 = a p]iod (
 at lea/ #f seconds2 &  7ii7 %all also  
be convey$ by an unobscur$1 full-scre5  
view ( ! applicable individual or by !  
applicable individual mak+ ! /atem5t 9  
voice-ov] accompani$ by a cle>ly        
id5tifiable photograph or simil> image (
 ! individual1 except 9 ! case ( a ,top 
,five ,fund]s li/4  7#d7 ,applicable    
individual def9$ ,! t]m applicable      
individual means1 ) respect to a        
communication to :i* ?is subsection     

applies--  7,a7 if ! communication is   
paid = by an individual1 ! individual   
involv$2  7,b7 if ! communication is    
paid = by a corporation1 ! *ief         
executive (fic] ( ! corporation 7or1 if 
! corporation does n h a *ief executive 
(fic]1 ! highe/ rank+ (ficial ( !       
corporation72  7,c7 if ! communication  
is paid = by a labor organization1 !    
highe/ rank+ (fic] ( ! labor            
organization2 &  7,d7 if ! communication
 is paid = by any o!r p]son1 ! highe/   
rank+ (ficial ( su* p]son4  7#e7 ,top   
,five ,fund]s li/ & ,top ,two ,fund]s   
li/ def9$  7,a7 ,top ,five ,fund]s li/  
,! t]m ,top ,five ,fund]s li/ means1 )  
respect to a communication :i* is paid =
 9 :ole or 9 "p ) a campaign-relat$     
disbursem5t 7z def9$ 9 section #cbd71 a 
li/ ( ! five p]sons :o1 dur+ ! #ab-mon? 
p]iod end+ on ! date ( ! disbursem5t1   
provid$ ! l>ge/ paym5ts ( any type 9 an 
aggregate am\nt equal to or exce$+      
#aj1jjj to ! p]son :o is pay+ = !       
communication & ! am\nt ( ! paym5ts ea* 

su* p]son provid$4 ,if two or m p       
provid$ ! fif? l>ge/ ( su* paym5ts1 !   
p]son pay+ = ! communication %all select
 "o ( ^? p]sons to be includ$ on ! ,top 
,five ,fund]s li/4  7,b7 ,top ,two      
,fund]s li/ ,! t]m ,top ,two ,fund]s li/
 means1 ) respect to a communication :i*
 is paid = 9 :ole or 9 "p ) a           
campaign-relat$ disbursem5t 7z def9$ 9  
section #cbd71 a li/ ( ! p]sons :o1 dur+
 ! #ab-mon? p]iod end+ on ! date ( !    
disbursem5t1 provid$ ! l>ge/ & ! second 
l>ge/ paym5ts ( any type 9 an aggregate 
am\nt equal to or exce$+ #aj1jjj to !   
p]son :o is pay+ = ! communication & !  
am\nt ( ! paym5ts ea* su* p]son provid$4
 ,if two or m p]sons provid$ ! second   
l>ge/ ( su* paym5ts1 ! p]son pay+ = !   
communication %all select "o ( ^? p]sons
 to be includ$ on ! ,top ,two ,fund]s   
li/4  7,c7 ,exclusion ( c]ta9 paym5ts ,=
 purposes ( subp>agraphs 7,a7 & 7,b71 9 
det]m9+ ! am\nt ( paym5ts made by a     
p]son to a p]son pay+ = a communication1
 !re %all be exclud$ ! foll[+3  7i7 ,any

 am\nts provid$ 9 ! ord9>y c\rse ( any  
trade or bus9ess conduct$ by ! p]son    
pay+ = ! communication or 9 ! =m (      
inve/m5ts 9 ! p]son pay+ = !            
communication4  7ii7 ,any paym5t :i* !  
p]son prohibit$1 9 writ+1 f be+ us$ =   
campaign-relat$ disbursem5ts1 b only if 
! p]son pay+ = ! communication agre$ to 
foll[ ! prohibition & deposit$ ! paym5t 
9 an acc\nt :i* is segregat$ f any      
acc\nt us$ to make campaign-relat$      
disbursem5ts4  7#f7 ,special rules =    
c]ta9 communications  7,a7 ,exception = 
communications paid = by political      
p>ties & c]ta9 political committees ,?is
 subsection does n apply to any         
communication to :i* subsection 7d77#b7 
applies4  7,b7 ,treatm5t ( video        
communications la/+ #aj seconds or less 
,9 ! case ( a communication to :i* ?is  
subsection applies :i* is transmitt$ 9 a
 video =mat1 or is an ,int]net or       
digital communication :i* is transmitt$ 
9 a text or graphic =mat1 !             
communication %all meet ! foll[+        

requirem5ts3  7i7 ,! communication %all 
include ! individual disclosure /atem5t 
describ$ 9 p>agraph 7#b77;,a7 7if !     
p]son pay+ = ! communication is an      
individual7 or ! organizational         
disclosure /atem5t describ$ 9 p>agraph  
7#b77;,b7 7if ! p]son pay+ = !          
communication is n an individual74  7ii7
 ,! /atem5t describ$ 9 clause 7i7 %all  
appe> 9 writ+ at ! end ( !              
communication1 or 9 a crawl along !     
bottom ( ! communication1 9 a cle> &    
conspicu\s mann]1 ) a reasonable degree 
( color contra/ betwe5 ! backgr\nd & !  
pr9t$ /atem5t1 = a p]iod ( at lea/ #d   
seconds4  7iii7 ,! communication %all   
include1 9 a cle> & conspicu\s mann]1 a 
website address ) a l&+ page :i* w      
provide all ( ! in=mation describ$ 9    
p>agraph 7#a7 ) respect to !            
communication4 ,su* address %all appe> =
 ! full duration ( ! communication4     
7iv7 ,to ! ext5t t ! =mat 9 :i* !       
communication is made p]mits ! use ( a  
hyp]l9k1 ! communication %all include a 

hyp]l9k to ! website address describ$ 9 
clause 7iii74  4  7b7 ,application (    
exp&$ requirem5ts to public             
communications consi/+ (                
campaign-,relat$ disbursem5ts ,section  
#cah7;a7 ( su* ,act 7#eb ,u4,s4,c4      
#cjabj7;a77 is am5d$ by /rik+ = !       
purpose ( f9anc+ communications         
expressly advocat+ ! election or defeat 
( a cle>ly id5tifi$ c&idate & ins]t+ = a
 campaign-relat$ disbursem5t1 z def9$ 9 
section #cbd1 consi/+ ( a public        
communication4  7c7 ,exception =        
communications paid = by political      
p>ties & c]ta9 political committees     
,section #cah7;d77#b7 ( su* ,act 7#eb   
,u4,s4,c4 #cjabj7;d77#b77 is am5d$--    
7#a7 9 ! head+1 by /rik+ o!rs & ins]t+  
c]ta9 political committees2  7#b7 by    
/rik+ ,any communication & ins]t+ 7,a7  
,any communication2  7#c7 by ins]t+ :i* 
7except to ! ext5t provid$ 9 subp>agraph
 7,b77 is paid = by a political         
committee 7includ+ a political committee
 ( a political p>ty7 & aft] subsection  

7a72  7#d7 by /rik+ or o!r p]son ea*    
place x appe>s2 &  7#e7 by add+ at ! end
 ! foll[+ new subp>agraph3  7,b7 7i7    
,?is p>agraph does n apply to a         
communication paid = 9 :ole or 9 "p dur+
 a cal5d> ye> ) a campaign-relat$       
disbursem5t1 b only if ! cov]$          
organization mak+ ! campaign-relat$     
disbursem5t made campaign-relat$        
disbursem5ts 7z def9$ 9 section #cbd7   
aggregat+ m ?an #aj1jjj dur+ su* cal5d> 
ye>4  7ii7 ,= purposes ( clause 7i71 9  
det]m9+ ! am\nt ( campaign-relat$       
disbursem5ts made by a cov]$            
organization dur+ a ye>1 !re %all be    
exclud$ ! foll[+3  7,i7 ,any am\nts     
receiv$ by ! cov]$ organization 9 !     
ord9>y c\rse ( any trade or bus9ess     
conduct$ by ! cov]$ organization or 9 ! 
=m ( inve/m5ts 9 ! cov]$ organization4  
7,,ii7 ,any am\nts receiv$ by ! cov]$   
organization f a p]son :o prohibit$1 9  
writ+1 ! organization f us+ su* am\nts =
 campaign-relat$ disbursem5ts1 b only if
 ! cov]$ organization agre$ to foll[ !  

prohibition & deposit$ ! am\nts 9 an    
acc\nt :i* is segregat$ f any acc\nt us$
 to make campaign-relat$ disbursem5ts4  
4  #bjc4 ,disclaim] requirem5ts =       
communications made ?r\gh pr]ecord$     
telephone calls  7a7 ,application (     
requirem5ts  7#a7 ,9 g5]al ,section     
#cah7;a7 ( ! ,f$]al ,election ,campaign 
,act ( #aiga 7#eb ,u4,s4,c4 #cjabj7;a77 
is am5d$ by ins]t+ aft] 8mail+10 ea*    
place x appe>s ! foll[+3 8telephone call
 :i* consi/s 9 sub/antial "p ( a        
pr]ecord$ audio message104  7#b7        
,application to communications subject  
to exp&$ disclaim] requirem5ts ,section 
#cah7;e77#a7 ( su* ,act 7#eb ,u4,s4,c4  
#cjabj7;e77#a771 z add$ by section      
#bjb7;a71 is am5d$ 9 ! matt] prec$+     
subp>agraph 7,a7 by /rik+ :i* is        
transmitt$ 9 an audio or video =mat &   
ins]t+ :i* is transmitt$ 9 an audio or  
video =mat or :i* consi/s ( a telephone 
call consi/+ 9 sub/antial "p ( a        
pr]ecord$ audio message4  7b7 ,treatm5t 
z communication transmitt$ 9 audio =mat 

7#a7 ,communications by c&idates or     
au?oriz$ p]sons ,section #cah7;d7 ( su* 
,act 7#eb ,u4,s4,c4 #cjabj7;d77 is am5d$
 by add+ at ! end ! foll[+ new p>agraph3
  7#c7 ,pr]ecord$ telephone calls ,any  
communication describ$ 9 p>agraph 7#a71 
7#b71 or 7#c7 ( subsection 7a7 7o!r ?an 
a communication :i* is subject to       
subsection 7e77 :i* is a telephone call 
consi/+ 9 sub/antial "p ( a pr]ecord$   
audio message %all include1 9 addition  
to ! requirem5ts ( su* p>agraph1 ! audio
 /atem5t requir$ "u subp>agraph 7,a7 (  
p>agraph 7#a7 or ! audio /atem5t requir$
 "u p>agraph 7#b7 7:i*ev] is            
applicable71 except t ! /atem5t %all be 
made at ! beg9n+ ( ! telephone call4  4 
7#b7 ,communications subject to exp&$   
disclaim] requirem5ts ,section          
#cah7;e77#c7 ( su* ,act 7#eb ,u4,s4,c4  
#cjabj7;e77#c771 z add$ by section      
#bjb7;a71 is am5d$ by add+ at ! end !   
foll[+ new subp>agraph3  7,d7 ,pr]ecord$
 telephone calls ,9 ! case ( a          
communication to :i* ?is subsection     

applies :i* is a telephone call consi/+ 
9 sub/antial "p ( a pr]ecord$ audio     
message1 ! communication %all be        
consid]$ to be transmitt$ 9 an audio    
=mat4  4  #bjd4 ,no expansion ( p]sons  
subject to disclaim] requirem5ts on     
,int]net communications ,no?+ 9 ?is     
title or ! am5dm5ts made by ?is title   
may be con/ru$ to require any p]son :o  
is n requir$ "u section #cah ( ! ,f$]al 
,election ,campaign ,act ( #aiga 7z     
provid$ "u section #aaj4aa ( title #aa (
 ! ,code ( ,f$]al ,regulations7 to      
include a disclaim] on communications   
made by ! p]son ?r\gh ! ,int]net to     
include any disclaim] on any su*        
communications4  #bje4 ,effective date  
,! am5dm5ts made by ?is title %all apply
 ) respect to communications made on or 
aft] ,janu>y #a1 #bjbj1 & %all take     
effect )\t reg>d to :e!r or n ! ,f$]al  
,election ,commission has promulgat$    
regulations to c>ry out su* am5dm5ts4   
,,iii ,o!r provisions  #cja4            
,sev]ability ,if any provision ( ?is    

,act or am5dm5t made by ?is ,act1 or !  
application ( a provision or am5dm5t to 
any p]son or circum/ance1 is held to be 
uncon/itutional1 ! rema9d] ( ?is ,act & 
am5dm5ts made by ?is ,act1 & !          
application ( ! provisions & am5dm5t to 
any p]son or circum/ance1 %all n be     
affect$ by ! hold+4