To amend the Federal Election Campaign Act of 1971 to require persons who make disbursements for certain electioneering communications and certain mass communications to file information with the Federal Election Commission regarding the source of the funds used for the disbursements, and for other purposes.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Full Disclosure Campaign Reform Act 
of 2002''.

SEC. 2. DISCLOSURE OF SOURCES OF ELECTIONEERING COMMUNICATIONS AND 
              TARGETED MASS COMMUNICATIONS.

    (a) In General.--Section 304 of the Federal Election Campaign Act 
of 1971 (2 U.S.C. 434) is amended by adding at the end the following 
new subsection:
    ``(e) Disclosure of Electioneering Communications and Targeted Mass 
Communications.--
            ``(1) Statement required.--Every person who makes a 
        disbursement for the direct costs of producing and airing 
        electioneering communications or targeted mass 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 the person making the 
                disbursement, of any person sharing or exercising 
                direction or control over the activities of such 
                person, and of the custodian of the books and accounts 
                of the person making the disbursement.
                    ``(B) The principal place of business of the person 
                making the disbursement, if not an individual.
                    ``(C) The amount of each disbursement of more than 
                $200 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 or targeted mass 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 bank account which consists of funds 
                contributed solely by individuals who are United States 
                citizens or nationals or lawfully admitted for 
                permanent residence as defined in section 1101(a)(2) of 
                the Immigration and Nationality Act (8 U.S.C. 
                1101(a)(2)) directly to this account for electioneering 
                communications or targeted mass communications, the 
                names and addresses of all contributors who contributed 
                an aggregate amount of $1,000 or more to that account 
                during the period beginning on the first day of the 
                preceding calendar year and ending on the disclosure 
                date. Nothing in this subparagraph is to be construed 
                as a prohibition on the use of funds in such a 
                segregated account for a purpose other than 
                electioneering communications or targeted mass 
                communications.
                    ``(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 $1,000 or more to the person making 
                the disbursement during the period beginning on the 
                first day of the preceding calendar year and ending on 
                the disclosure date.
            ``(3) Electioneering communication.--For purposes of this 
        subsection--
                    ``(A) In general.--(i) The term `electioneering 
                communication' means any broadcast, cable, or satellite 
                communication which refers to a clearly identified 
                candidate for Federal office.
                    ``(ii) If clause (i) is held to be constitutionally 
                insufficient by final judicial decision to support any 
                regulation promulgated to carry out the definition of 
the term `electioneering communication' under such clause, the term 
`electioneering communication' means any broadcast, cable, or satellite 
communication which promotes or supports a candidate for that office, 
or attacks or opposes a candidate for that office (regardless of 
whether the communication expressly advocates a vote for or against a 
candidate) and which also is suggestive of no plausible meaning other 
than an exhortation to vote for or against a specific candidate.
                    ``(iii) Nothing in this subparagraph shall be 
                construed to affect the interpretation or application 
                of section 100.22(b) of title 11, Code of Federal 
                Regulations, or any other regulation promulgated by the 
                Commission to carry out the definition of the term 
                `expressly advocating' for purposes of any other 
                provision of this Act.
                    ``(B) Exceptions.--The term `electioneering 
                communication' does not include--
                            ``(i) a communication 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;
                            ``(ii) a communication which constitutes an 
                        expenditure or an independent expenditure under 
                        this Act;
                            ``(iii) a communication which constitutes a 
                        candidate debate or forum conducted pursuant to 
                        regulations adopted by the Commission, or which 
                        solely promotes such a debate or forum and is 
                        made by or on behalf of the person sponsoring 
                        the debate or forum; or
                            ``(iv) any other communication exempted 
                        under such regulations as the Commission may 
                        promulgate (consistent with the requirements of 
                        this paragraph) to ensure the appropriate 
                        implementation of this paragraph, except that 
                        under any such regulation a communication may 
                        not be exempted if the communication--
                                    ``(I) meets the requirements of 
                                this paragraph; and
                                    ``(II) is a public communication 
                                which refers to a clearly identified 
                                candidate for Federal office 
                                (regardless of whether a candidate for 
                                State or local office is also mentioned 
                                or identified) and which promotes or 
                                supports a candidate for that office, 
                                or attacks or opposes a candidate for 
                                that office (regardless of whether the 
                                communication expressly advocates a 
                                vote for or against a candidate).
            ``(4) Targeted mass communication defined.--
                    ``(A) In general.--In this subsection, the term 
                `targeted mass communication' means any communication--
                            ``(i) which refers to or depicts a clearly 
                        identified candidate for such election (by 
                        name, image, or likeness); and
                            ``(ii) which is targeted to the relevant 
                        electorate.
                    ``(B) Targeting to relevant electorate.--
                            ``(i) Broadcast communications.--For 
                        purposes of this paragraph, a communication 
                        disseminated to the public by means of any 
                        broadcast, cable, or satellite communication 
                        which refers to or depicts a clearly identified 
                        candidate for Federal office is `targeted to 
                        the relevant electorate' if the communication 
                        is disseminated by a broadcaster whose audience 
                        includes--
                                    ``(I) a substantial number of 
                                residents of the district the candidate 
                                seeks to represent (as determined in 
                                accordance with regulations of the 
                                Commission), in the case of a candidate 
                                for Representative in, or Delegate or 
                                Resident Commissioner to, the Congress; 
                                or
                                    ``(II) a substantial number of 
                                residents of the State the candidate 
                                seeks to represent (as determined in 
                                accordance with regulations of the 
                                Commission), in the case of a candidate 
                                for Senator.
                            ``(ii) Other communications.--For purposes 
                        of this paragraph, a communication which is not 
                        described in clause (i) which refers to or 
                        depicts a clearly identified candidate for 
                        Federal office is `targeted to the relevant 
                        electorate' if--
                                    ``(I) more than 10 percent of the 
                                total number of intended recipients of 
                                the communication are members of the 
                                electorate involved with respect to 
                                such Federal office; or
                                    ``(II) more than 10 percent of the 
                                total number of members of the 
                                electorate involved with respect to 
                                such Federal office receive the 
                                communication.
                    ``(C) Exceptions.--The term `targeted mass 
                communication' does not include--
                            ``(i) a communication appearing in a news 
                        story, commentary, or editorial distributed 
                        through the facilities of any broadcasting 
                        station, newspaper, magazine, or other 
                        periodical publication, unless such facilities 
                        are owned or controlled by any political party, 
                        political committee, or candidate;
                            ``(ii) a communication made by any 
                        membership organization (including a labor 
                        organization) or corporation solely to its 
                        members, stockholders, or executive or 
                        administrative personnel, if such membership 
                        organization or corporation is not organized 
                        primarily for the purpose of influencing the 
                        nomination for election, or election, of any 
                        individual to Federal office; or
                            ``(iii) a communication which constitutes 
                        an expenditure under this Act.
            ``(5) Disclosure date.--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 the direct 
                costs of producing or airing 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 the direct 
                costs of producing or airing electioneering 
                communications aggregating in excess of $10,000 since 
                the most recent disclosure date for such calendar year.
            ``(6) Contracts to disburse.--For purposes of this 
        subsection, a person shall be treated as having made a 
        disbursement if the person has executed a contract to make the 
        disbursement.
            ``(7) Coordination with other requirements.--Any 
        requirement to report under this subsection shall be in 
        addition to any other reporting requirement under this Act.
            ``(8) Coordination With Internal Revenue Code.--Nothing in 
        this subsection may be construed to establish, modify, or 
        otherwise affect the definition of political activities or 
        electioneering activities (including the definition of 
        participating in, intervening in, or influencing or attempting 
        to influence a political campaign on behalf of or in opposition 
        to any candidate for public office) for purposes of the 
        Internal Revenue Code of 1986.''.
    (b) Responsibilities of Federal Communications Commission.--The 
Federal Communications Commission shall compile and maintain any 
information the Federal Election Commission may require to carry out 
section 304(e) of the Federal Election Campaign Act of 1971 (as added 
by subsection (a)), and shall make such information available to the 
public on the Federal Communication Commission's website.

SEC. 3. EFFECTIVE DATE.

    The amendments made by section 2 shall take effect 30 days after 
the date of the enactment of this Act.

Summary: Full Disclosure Campaign Reform Act of 2002 - Amends the Federal Election Campaign Act of 1971 to require every person who makes a disbursement for the direct costs of producing and airing electioneering communications or targeted mass communications in an aggregate amount in excess of $10,000 during any calendar year to file with the Federal Election Commission (FEC) a disclosure statement meeting specified requirements. Directs the Federal Communications Commission to compile and maintain any information the FEC may require to carry out this Act and to make it publicly available through its website.