A bill to amend the Federal Election Campaign Act of 1971 to require disclosure of certain disbursements made for electioneering communications, and for other purposes..

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Advancing Truth and Accountability 
in Campaign Communications Act of 2001''.

SEC. 2. DISCLOSURE OF ELECTIONEERING COMMUNICATIONS.

    Section 304 of the Federal Election Campaign Act of 1971 (2 U.S.C. 
434) is amended by adding at the end the following:
    ``(e) Additional Statements on Electioneering Communications.--
            ``(1) Statement required.--Every person who makes a 
        disbursement for electioneering communications in an aggregate 
        amount in excess of $10,000 during any calendar year shall, 
        within 24 hours of each disclosure date, file with the 
        Commission a statement containing the information described in 
        paragraph (2).
            ``(2) Contents of statement.--Each statement required to be 
        filed under this subsection shall be made under penalty of 
        perjury and shall contain the following information:
                    ``(A) The identification of--
                            ``(i) the person making the disbursement;
                            ``(ii) any entity sharing or exercising 
                        direction or control over the activities of 
                        such person; and
                            ``(iii) the custodian of the books and 
                        accounts of the person making the disbursement.
                    ``(B) The State of incorporation and the principal 
                place of business of the person making the 
                disbursement.
                    ``(C) The amount of each disbursement during the 
                period covered by the statement and the identification 
                of the person to whom the disbursement was made.
                    ``(D) The elections to which the electioneering 
                communications pertain and the names (if known) of the 
                candidates identified or to be identified.
                    ``(E) If the disbursements were paid out of a 
                segregated account to which only individuals could 
                contribute, the names and addresses of all contributors 
                who contributed an aggregate amount of $500 or more to 
                that account during the period beginning on the first 
                day of the preceding calendar year and ending on the 
                disclosure date.
                    ``(F) If the disbursements were paid out of funds 
                not described in subparagraph (E), the names and 
                addresses of all contributors who contributed an 
                aggregate amount of $500 or more to the organization or 
                any related entity during the period beginning on the 
                first day of the preceding calendar year and ending on 
                the disclosure date.
                    ``(G) Whether or not any electioneering 
                communication is made in coordination, cooperation, 
                consultation, or concert with, or at the request or 
                suggestion of, any candidate or any authorized 
                committee, any political party or committee, or any 
                agent of the candidate, political party, or committee 
                and if so, the identification of any candidate, party, 
                committee, or agent involved.
            ``(3) Electioneering communication defined.--For purposes 
        of this subsection--
                    ``(A) In general.--The term `electioneering 
                communication' means any broadcast from a television or 
                radio broadcast station that--
                            ``(i) refers to a clearly identified 
                        candidate for Federal office;
                            ``(ii) is made (or scheduled to be made) 
                        within--
                                    ``(I) 60 days before a general, 
                                special, or runoff election for such 
                                Federal office; or
                                    ``(II) 30 days before a primary or 
                                preference election, or a convention or 
                                caucus of a political party that has 
                                authority to nominate a candidate, for 
                                such Federal office; and
                            ``(iii) is broadcast from a television or 
                        radio broadcast station whose audience includes 
                        the electorate for such election, convention, 
                        or caucus.
                    ``(B) Exceptions.--Such term shall not include--
                            ``(i) communications appearing in a news 
                        story, commentary, or editorial distributed 
                        through the facilities of any broadcasting 
                        station, unless such facilities are owned or 
                        controlled by any political party, political 
                        committee, or candidate; or
                            ``(ii) communications which constitute 
                        expenditures or independent expenditures under 
                        this Act.
            ``(4) Disclosure date defined.--For purposes of this 
        subsection, the term `disclosure date' means--
                    ``(A) the first date during any calendar year by 
                which a person has made disbursements for 
                electioneering communications aggregating in excess of 
                $10,000; and
                    ``(B) any other date during such calendar year by 
                which a person has made disbursements for 
                electioneering communications aggregating in excess of 
                $10,000 since the most recent disclosure date for such 
                calendar year.
            ``(5) Contracts to disburse.--For purposes of this 
        subsection, a person shall be treated as having made a 
        disbursement if the person has contracted to make the 
        disbursement.
            ``(6) Coordination with other requirements.--Any 
        requirement to report under this subsection shall be in 
        addition to any other reporting requirement under this Act.''.

SEC. 3. COORDINATED COMMUNICATIONS AS CONTRIBUTIONS.

    Section 315(a)(7)(B) of the Federal Election Campaign Act of 1971 
(2 U.S.C. 441a(a)(7)(B)) is amended by inserting after clause (ii) the 
following:
                            ``(iii) if--
                                    ``(I) any person makes, or 
                                contracts to make, any payment for any 
                                electioneering communication (as 
                                defined in section 304(e)(3)); and
                                    ``(II) such payment is coordinated 
                                with a candidate for Federal office or 
                                an authorized committee of such 
                                candidate, a Federal, State, or local 
                                political party or committee thereof, 
                                or an agent or official of any such 
                                candidate, party, or committee,
                        such payment or contracting shall be treated as 
                        a contribution to such candidate and as an 
                        expenditure by such candidate; and''.

SEC. 4. PROHIBITION OF CORPORATE AND LABOR DISBURSEMENTS FOR 
              ELECTIONEERING COMMUNICATIONS.

    (a) In General.--Section 316(b)(2) of the Federal Election Campaign 
Act of 1971 (2 U.S.C. 441b(b)(2)) is amended by inserting ``or for any 
applicable electioneering communication'' before ``, but shall not 
include''.
    (b) Applicable Electioneering Communication.--Section 316 of such 
Act is amended by adding at the end the following:
    ``(c) Rules Relating to Electioneering Communications.--
            ``(1) Applicable electioneering communication.--For 
        purposes of this section, the term `applicable electioneering 
        communication' means an electioneering communication (as 
        defined in section 304(e)(3)) that is made by--
                    ``(A) any entity to which subsection (a) applies 
                other than a section 501(c)(4) organization; or
                    ``(B) a section 501(c)(4) organization if such 
                communication is paid for using amounts derived from 
                the conduct of a trade or business or from an entity 
                described in subparagraph (A).
            ``(2) Special operating rules.--For purposes of paragraph 
        (1), the following rules shall apply:
                    ``(A) An electioneering communication shall be 
                treated as made by an entity described in paragraph 
                (1)(A) if--
                            ``(i) the entity described in paragraph 
                        (1)(A) directly or indirectly disburses any 
                        amount for any of the costs of the 
                        communication; or
                            ``(ii) any amount is disbursed for the 
                        communication by a corporation or organization 
                        or a State or local political party or 
                        committee thereof that receives anything of 
                        value from the entity described in paragraph 
                        (1)(A), except that this clause shall not apply 
                        to any communication the costs of which are 
                        defrayed entirely out of a segregated account 
                        to which only individuals can contribute.
                    ``(B) A section 501(c)(4) organization that derives 
                amounts from business activities or from any entity 
                described in paragraph (1)(A) shall be considered to 
                have paid for any communication out of such amounts 
                unless such organization paid for the communication out 
                of a segregated account to which only individuals can 
                contribute.
            ``(3) Definitions and rules.--For purposes of this 
        subsection--
                    ``(A) the term `section 501(c)(4) organization' 
                means--
                            ``(i) an organization described in section 
                        501(c)(4) of the Internal Revenue Code of 1986 
                        and exempt from taxation under section 501(a) 
                        of such Code; or
                            ``(ii) an organization which has submitted 
                        an application to the Internal Revenue Service 
                        for determination of its status as an 
                        organization described in clause (i); and
                    ``(B) a person shall be treated as having made a 
                disbursement if the person has contracted to make the 
                disbursement.
            ``(4) Coordination with internal revenue code.--Nothing in 
        this subsection shall be construed to authorize an organization 
        exempt from taxation under section 501(a) of the Internal 
        Revenue Code of 1986 from carrying out any activity which is 
        prohibited under such Code.''.

Summary: Advancing Truth and Accountability in Campaign Communications Act of 2001 - Amends the Federal Election Campaign Act of 1971 to require the filing of a report with the Commissioner of the Federal Election Commission within 24 hours of each date during a calendar year on which disbursements for electioneering communications exceed an aggregate of $10,000. Defines electioneering communications as certain communications broadcast from either a television or radio station that refer to a clearly identified candidate for Federal office. Provides that if any person makes, or contracts to make, any payment for any electioneering communication, and such payment is coordinated with a candidate for Federal office or an authorized committee of such candidate, a Federal, State, or local political party or committee thereof, or an agent or official of any such candidate, party, or committee, then such payment or contracting shall be treated as a contribution to and an expenditure by such candidate. Prohibits, in general, corporate and labor disbursements for applicable electioneering communications.