I 

113TH CONGRESS 

1ST SESSION H. R. 148 

To amend the Federal Election Campaign Act of 1971 to provide for additional disclosure requirements for corporations, labor organizations, and 

other entities, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 3, 2013 

Mr. VAN HOLLEN (for himself, Mr. CLYBURN, Mr. BECERRA, Mr. CROWLEY, 

Ms. DELAURO, Mr. ANDREWS, Mr. CUELLAR, Mr. PALLONE, Mr. 

ISRAEL, Mr. LARSON of Connecticut, Mr. BRADY of Pennsylvania, and 

Ms. LOFGREN) introduced the following bill; which was referred to the 

Committee on House Administration, and in addition to the Committees 

on the Judiciary and Ways and Means, for a period to be subsequently 

determined by the Speaker, 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 1971 to 

provide for additional disclosure requirements for corporations, labor organizations, and other entities, and 

for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Disclosure of Informa5 tion on Spending on Campaigns Leads to Open and SeVerDate Mar 15 2010 00:43 Jan 11, 2013 Jkt 029200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H148.IH H148

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1 cure Elections Act of 2013’’ or the ‘‘DISCLOSE 2013 

2 Act’’. 

3 SEC. 2. CAMPAIGN DISBURSEMENT REPORTING. 

4 (a) INFORMATION REQUIRED TO BE REPORTED.— 

5 (1) TREATMENT OF FUNCTIONAL EQUIVALENT

6 OF EXPRESS ADVOCACY AS INDEPENDENT EXPENDI7 TURE.—Subparagraph (A) of section 301(17) of the 

8 Federal Election Campaign Act of 1971 (2 U.S.C. 

9 431(17)) is amended to read as follows: 

10 ‘‘(A) that, when taken as a whole, ex11 pressly advocates the election or defeat of a 

12 clearly identified candidate, or is the functional 

13 equivalent of express advocacy because it can be 

14 interpreted by a reasonable person only as ad15 vocating the election or defeat of a candidate, 

16 taking into account whether the communication 

17 involved mentions a candidacy, a political party, 

18 or a challenger to a candidate, or takes a posi19 tion on a candidate’s character, qualifications, 

20 or fitness for office; and’’. 

21 (2) EXPANSION OF PERIOD DURING WHICH

22 COMMUNICATIONS ARE TREATED AS ELECTION23 EERING COMMUNICATIONS.—Section 304(f)(3)(A)(i) 

24 of such Act (2 U.S.C. 434(f)(3)(A)(i)) is amended— 


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1 (A) by redesignating subclause (III) as 

2 subclause (IV); and 

3 (B) by striking subclause (II) and insert4 ing the following: 

5 ‘‘(II) in the case of a communica6 tion which refers to a candidate for an 

7 office other than the President or Vice 

8 President, is made during the period 

9 beginning on January 1 of the cal10 endar year in which a general or run11 off election is held and ending on the 

12 date of the general or runoff election 

13 (or in the case of a special election, 

14 during the period beginning on the 

15 date on which the announcement with 

16 respect to such election is made and 

17 ending on the date of the special elec18 tion); 

19 ‘‘(III) in the case of a commu20 nication which refers to a candidate 

21 for the office of President or Vice 

22 President, is made in any State dur23 ing the period beginning 120 days be24 fore the first primary or preference 

25 election or a convention or caucus of 


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1 a political party which has the author2 ity to nominate a candidate for the of3 fice of President or Vice President is 

4 held in any State and ending on the 

5 date of the general election; and’’. 

6 (3) EFFECTIVE DATE; TRANSITION FOR ELEC7 TIONEERING COMMUNICATIONS MADE PRIOR TO EN8 ACTMENT.—The amendment made by paragraph (2) 

9 shall apply with respect to communications made on 

10 or after July 1, 2013, except that no communication 

11 which is made prior to such date shall be treated as 

12 an electioneering communication under section 

13 304(f)(3)(A)(i)(II) or (III) of the Federal Election 

14 Campaign Act of 1971 (as amended by paragraph 

15 (2)) unless the communication would be treated as 

16 an electioneering communication under such section 

17 if the amendment made by paragraph (2) did not 

18 apply. 

19 (b) DISCLOSURE REQUIREMENTS FOR CORPORA20 TIONS, LABOR ORGANIZATIONS, AND CERTAIN OTHER

21 ENTITIES.— 

22 (1) IN GENERAL.—Section 324 of the Federal 

23 Election Campaign Act of 1971 (2 U.S.C. 441k) is 

24 amended to read as follows: 


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1 ‘‘SEC. 324. DISCLOSURE OF CAMPAIGN-RELATED DISBURSE2 MENTS BY COVERED ORGANIZATIONS. 

3 ‘‘(a) DISCLOSURE STATEMENT.— 

4 ‘‘(1) IN GENERAL.—Any covered organization 

5 that makes campaign-related disbursements aggre6 gating more than $10,000 in a calendar year shall, 

7 not later than 24 hours after each disclosure date, 

8 file a statement with the Commission made under 

9 penalty of perjury that contains the information de10 scribed in paragraph (2)— 

11 ‘‘(A) in the case of the first statement filed 

12 under this subsection, for the period beginning 

13 on the first day of the preceding calendar year 

14 and ending on the first such disclosure date; 

15 and 

16 ‘‘(B) in the case of any subsequent state17 ment filed under this subsection, for the period 

18 beginning on the previous disclosure date and 

19 ending on such disclosure date. 

20 ‘‘(2) INFORMATION DESCRIBED.—The informa21 tion described in this paragraph is as follows: 

22 ‘‘(A) The name of the covered organization 

23 and the principal place of business of such or24 ganization. 

25 ‘‘(B) The amount of each campaign-related 

26 disbursement made by such organization during 


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1 the period covered by the statement of more 

2 than $1,000. 

3 ‘‘(C) In the case of a campaign-related dis4 bursement that is not a covered transfer, the 

5 election to which the campaign-related disburse6 ment pertains and if the disbursement is made 

7 for a public communication, the name of any 

8 candidate identified in such communication and 

9 whether such communication is in support of or 

10 in opposition to a candidate. 

11 ‘‘(D) A certification by the chief executive 

12 officer or person who is the head of the covered 

13 organization that the campaign-related dis14 bursement is not made in cooperation, consulta15 tion, or concert with or at the request or sug16 gestion of a candidate, authorized committee, or 

17 agent of a candidate, political party, or agent of 

18 a political party. 

19 ‘‘(E) If the covered organization makes 

20 campaign-related disbursements using exclu21 sively funds in a segregated bank account con22 sisting of funds that were contributed, donated, 

23 transferred, or paid directly to such account by 

24 persons other than the covered organization 

25 that controls the account, for each contribution, 


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1 donation, transfer, payment of dues, or other 

2 payment to the account— 

3 ‘‘(i) the name and address of each 

4 person who made such contribution, dona5 tion, transfer, payment of dues, or other 

6 payment during the period covered by the 

7 statement; 

8 ‘‘(ii) the date and amount of such 

9 contribution, donation, transfer, payment 

10 of dues, or other payment; and 

11 ‘‘(iii) the aggregate amount of all such 

12 contributions, donations, transfers, pay13 ments of dues, and other payments made 

14 by the person during the period beginning 

15 on the first day of the preceding calendar 

16 year and ending on the disclosure date; 

17 but only if such contribution, donation, trans18 fer, payment of dues, or other payment was 

19 made by a person who made contributions, do20 nations, transfers, payments of dues, or pay21 ments to the account in an aggregate amount 

22 of $10,000 or more during the period beginning 

23 on the first day of the preceding calendar year 

24 and ending on the disclosure date. 


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1 ‘‘(F) Subject to paragraph (4), if the cov2 ered organization makes campaign-related dis3 bursements using funds other than funds in a 

4 segregated bank account described in subpara5 graph (E), for each contribution, donation, 

6 transfer, or payment of dues to the covered or7 ganization— 

8 ‘‘(i) the name and address of each 

9 person who made such contribution, dona10 tion, transfer, or payment of dues during 

11 the period covered by the statement; 

12 ‘‘(ii) the date and amount of such 

13 contribution, donation, transfer, or pay14 ment of dues; and 

15 ‘‘(iii) the aggregate amount of all such 

16 contributions, donations, transfers, and 

17 payments of dues made by the person dur18 ing the period beginning on the first day of 

19 the preceding calendar year and ending on 

20 the disclosure date; 

21 but only if such contribution, donation, trans22 fer, or payment of dues was made by a person 

23 who made contributions, donations, transfers, 

24 or payments of dues to the covered organization 

25 in an aggregate amount of $10,000 or more 


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1 during the period beginning on the first day of 

2 the preceding calendar year and ending on the 

3 disclosure date. 

4 ‘‘(3) EXCEPTIONS.— 

5 ‘‘(A) AMOUNTS RECEIVED IN ORDINARY

6 COURSE OF BUSINESS.—The requirement to in7 clude in a statement filed under paragraph (1) 

8 the information described in paragraph (2) 

9 shall not apply to amounts received by the cov10 ered organization in the ordinary course of any 

11 trade or business conducted by the covered or12 ganization or in the form of investments in the 

13 covered organization. 

14 ‘‘(B) DONOR RESTRICTION ON USE OF

15 FUNDS.—The requirement to include in a state16 ment submitted under paragraph (1) the infor17 mation described in subparagraph (F) of para18 graph (2) shall not apply if— 

19 ‘‘(i) the person described in such sub20 paragraph prohibited, in writing, the use of 

21 the contribution, donation, transfer, pay22 ment of dues, or other payment made by 

23 such person for campaign-related disburse24 ments; and 


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1 ‘‘(ii) the covered organization agreed 

2 to follow the prohibition and deposited the 

3 contribution, donation, transfer, payment 

4 of dues, or other payment in an account 

5 which is segregated from any account used 

6 to make campaign-related disbursements. 

7 ‘‘(4) DISCLOSURE DATE.— 

8 ‘‘(A) IN GENERAL.—Except as provided in 

9 subparagraph (B), the term ‘disclosure date’ 

10 means— 

11 ‘‘(i) the first date during any calendar 

12 year by which a person has made cam13 paign-related disbursements aggregating 

14 more than $10,000; and 

15 ‘‘(ii) each date following the date de16 scribed in clause (i) during such calendar 

17 year by which a person has made cam18 paign-related disbursements aggregating 

19 more than $10,000. 

20 ‘‘(B) DISCLOSURE DATE FOR CERTAIN

21 TRANSFERS.—In the case of a statement filed 

22 with respect to a campaign-related disburse23 ment which is a covered transfer described in 

24 subsection (f)(1)(E), the term ‘disclosure date’ 

25 means the date on which the covered organizaVerDate Mar 15 2010 00:43 Jan 11, 2013 Jkt 029200 PO 00000 Frm 00010 Fmt 6652 Sfmt 6201 E:\BILLS\H148.IH H148

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1 tion making such transfer knew or should have 

2 known that the recipient of such transfer made 

3 campaign-related disbursements in an aggre4 gate amount of $50,000 or more during the 2- 

5 year period beginning on the date of the trans6 fer. 

7 ‘‘(b) COORDINATION WITH OTHER PROVISIONS.— 

8 ‘‘(1) OTHER REPORTS FILED WITH THE COM9 MISSION.—Information included in a statement filed 

10 under this section may be excluded from statements 

11 and reports filed under section 304. 

12 ‘‘(2) TREATMENT AS SEPARATE SEGREGATED

13 FUND.—A segregated bank account referred to in 

14 subsection (a)(2)(E) may be treated as a separate 

15 segregated fund for purposes of section 527(f)(3) of 

16 the Internal Revenue Code of 1986. 

17 ‘‘(c) FILING.—Statements required to be filed under 

18 subsection (a) shall be subject to the requirements of sec19 tion 304(d) to the same extent and in the same manner 

20 as if such reports had been required under subsection (c) 

21 or (g) of section 304. 

22 ‘‘(d) CAMPAIGN-RELATED DISBURSEMENT DE23 FINED.—In this section, the term ‘campaign-related dis24 bursement’ means a disbursement by a covered organiza25 tion for any of the following: 


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1 ‘‘(1) An independent expenditure consisting of a 

2 public communication, as defined in section 301(22). 

3 ‘‘(2) An electioneering communication, as de4 fined in section 304(f)(3). 

5 ‘‘(3) A covered transfer. 

6 ‘‘(e) COVERED ORGANIZATION DEFINED.—In this 

7 section, the term ‘covered organization’ means any of the 

8 following: 

9 ‘‘(1) A corporation (other than an organization 

10 described in section 501(c)(3) of the Internal Rev11 enue Code of 1986). 

12 ‘‘(2) An organization described in section 

13 501(c) of such Code and exempt from taxation 

14 under section 501(a) of such Code (other than an 

15 organization described in section 501(c)(3) of such 

16 Code). 

17 ‘‘(3) A labor organization (as defined in section 

18 316(b)). 

19 ‘‘(4) Any political organization under section 

20 527 of the Internal Revenue Code of 1986, other 

21 than a political committee under this Act (except as 

22 provided in paragraph (5)). 

23 ‘‘(5) A political committee with an account es24 tablished for the purpose of accepting donations or 

25 contributions that do not comply with the contribuVerDate Mar 15 2010 00:43 Jan 11, 2013 Jkt 029200 PO 00000 Frm 00012 Fmt 6652 Sfmt 6201 E:\BILLS\H148.IH H148

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1 tion limits or source prohibitions under this Act, but 

2 only with respect to the accounts established for 

3 such purpose. 

4 ‘‘(f) COVERED TRANSFER DEFINED.— 

5 ‘‘(1) IN GENERAL.—In this section, the term 

6 ‘covered transfer’ means any transfer or payment of 

7 funds by a covered organization to another person if 

8 the covered organization— 

9 ‘‘(A) designates, requests, or suggests that 

10 the amounts be used for— 

11 ‘‘(i) campaign-related disbursements 

12 (other than covered transfers); or 

13 ‘‘(ii) making a transfer to another 

14 person for the purpose of making or pay15 ing for such campaign-related disburse16 ments; 

17 ‘‘(B) made such transfer or payment in re18 sponse to a solicitation or other request for a 

19 donation or payment for— 

20 ‘‘(i) the making of or paying for cam21 paign-related disbursements (other than 

22 covered transfers); or 

23 ‘‘(ii) making a transfer to another 

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1 ing for such campaign-related disburse2 ments; 

3 ‘‘(C) engaged in discussions with the re4 cipient of the transfer or payment regarding— 

5 ‘‘(i) the making of or paying for cam6 paign-related disbursements (other than 

7 covered transfers); or 

8 ‘‘(ii) donating or transferring any 

9 amount of such transfer or payment to an10 other person for the purpose of making or 

11 paying for such campaign-related disburse12 ments; 

13 ‘‘(D) made campaign-related disburse14 ments (other than a covered transfer) in an ag15 gregate amount of $50,000 or more during the 

16 2-year period ending on the date of the transfer 

17 or payment, or knew or had reason to know 

18 that the person receiving the transfer or pay19 ment made such disbursements in such an ag20 gregate amount during that 2-year period; or 

21 ‘‘(E) knew or had reason to know that the 

22 person receiving the transfer or payment would 

23 make campaign-related disbursements in an ag24 gregate amount of $50,000 or more during the 


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1 2-year period beginning on the date of the 

2 transfer or payment. 

3 ‘‘(2) EXCLUSIONS.—The term ‘covered transfer’ 

4 does not include any of the following: 

5 ‘‘(A) A disbursement made by a covered 

6 organization in the ordinary course of any trade 

7 or business conducted by the covered organiza8 tion or in the form of investments made by the 

9 covered organization. 

10 ‘‘(B) A disbursement made by a covered 

11 organization if— 

12 ‘‘(i) the covered organization prohib13 ited, in writing, the use of such disburse14 ment for campaign-related disbursements; 

15 and 

16 ‘‘(ii) the recipient of the disbursement 

17 agreed to follow the prohibition and depos18 ited the disbursement in an account which 

19 is segregated from any account used to 

20 make campaign-related disbursements. 

21 ‘‘(3) EXCEPTION FOR CERTAIN TRANSFERS

22 AMONG AFFILIATES.— 

23 ‘‘(A) EXCEPTION FOR CERTAIN TRANS24 FERS AMONG AFFILIATES.—The term ‘covered 

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1 ferred by one covered organization to another 

2 covered organization which is treated as a 

3 transfer between affiliates under subparagraph 

4 (B) if the aggregate amount transferred during 

5 the year by such covered organization to that 

6 same covered organization is equal to or less 

7 than $50,000. 

8 ‘‘(B) DESCRIPTION OF TRANSFERS BE9 TWEEN AFFILIATES.—A transfer of amounts 

10 from one covered organization to another cov11 ered organization shall be treated as a transfer 

12 between affiliates if— 

13 ‘‘(i) one of the organizations is an af14 filiate of the other organization; or 

15 ‘‘(ii) each of the organizations is an 

16 affiliate of the same organization; 

17 except that the transfer shall not be treated as 

18 a transfer between affiliates if one of the orga19 nizations is established for the purpose of mak20 ing campaign-related disbursements. 

21 ‘‘(C) DETERMINATION OF AFFILIATE STA22 TUS.—For purposes of subparagraph (B), a 

23 covered organization is an affiliate of another 

24 covered organization if— 


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1 ‘‘(i) the governing instrument of the 

2 organization requires it to be bound by de3 cisions of the other organization; 

4 ‘‘(ii) the governing board of the orga5 nization includes persons who are specifi6 cally designated representatives of the 

7 other organization or are members of the 

8 governing board, officers, or paid executive 

9 staff members of the other organization, or 

10 whose service on the governing board is 

11 contingent upon the approval of the other 

12 organization; or 

13 ‘‘(iii) the organization is chartered by 

14 the other organization. 

15 ‘‘(D) COVERAGE OF TRANSFERS TO AF16 FILIATED SECTION 501(c)(3) ORGANIZA17 TIONS.—This paragraph shall apply with re18 spect to an amount transferred by a covered or19 ganization to an organization described in para20 graph (3) of section 501(c) of the Internal Rev21 enue Code of 1986 and exempt from tax under 

22 section 501(a) of such Code in the same man23 ner as this paragraph applies to an amount 

24 transferred by a covered organization to an25 other covered organization.’’. 


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1 (2) CONFORMING AMENDMENT.—Section 

2 304(f)(6) of such Act (2 U.S.C. 434) is amended by 

3 striking ‘‘Any requirement’’ and inserting ‘‘Except 

4 as provided in section 324(b), any requirement’’. 

5 SEC. 3. STAND BY YOUR AD. 

6 (a) DISCLAIMER REQUIREMENTS FOR CAMPAIGN-RE7 LATED DISBURSEMENTS.—Section 318(a) of the Federal 

8 Election Campaign Act of 1971 (2 U.S.C. 441d(a)) is 

9 amended by striking ‘‘for the purpose of financing commu10 nications expressly advocating the election or defeat of a 

11 clearly identified candidate’’ and inserting ‘‘for a cam12 paign-related disbursement, as defined in section 324, con13 sisting of a public communication’’. 

14 (b) STAND BY YOUR AD REQUIREMENTS.— 

15 (1) MAINTENANCE OF REQUIREMENTS FOR PO16 LITICAL PARTIES AND CERTAIN POLITICAL COMMIT17 TEES.—Section 318(d)(2) of such Act (2 U.S.C. 

18 441d(d)(2)) is amended— 

19 (A) in the heading, by striking ‘‘OTHERS’’ 

20 and inserting ‘‘CERTAIN POLITICAL COMMIT21 TEES’’; 

22 (B) by inserting ‘‘which (except to the ex23 tent provided in the last sentence of this para24 graph) is paid for by a political committee (inVerDate Mar 15 2010 00:43 Jan 11, 2013 Jkt 029200 PO 00000 Frm 00018 Fmt 6652 Sfmt 6201 E:\BILLS\H148.IH H148

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1 cluding a political committee of a political 

2 party) and’’ after ‘‘subsection (a)’’; 

3 (C) by striking ‘‘or other person’’ each 

4 place it appears; and 

5 (D) by adding at the end the following: 

6 ‘‘This paragraph does not apply to a commu7 nication paid for in whole or in part with a pay8 ment which is treated as a campaign-related 

9 disbursement under section 324 and with re10 spect to which a covered organization files a 

11 statement under such section.’’. 

12 (2) SPECIAL DISCLAIMER REQUIREMENTS FOR

13 CERTAIN COMMUNICATIONS.—Section 318 of such 

14 Act (2 U.S.C. 441d) is amended by adding at the 

15 end the following new subsection: 

16 ‘‘(e) COMMUNICATIONS BY OTHERS.— 

17 ‘‘(1) IN GENERAL.—Any communication de18 scribed in paragraph (3) of subsection (a) which is 

19 transmitted through radio or television (other than 

20 a communication to which subsection (d)(2) applies) 

21 shall include, in addition to the requirements of such 

22 paragraph, the following: 

23 ‘‘(A) The individual disclosure statement 

24 described in paragraph (2)(A) (if the person 

25 paying for the communication is an individual) 


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1 or the organizational disclosure statement de2 scribed in paragraph (2)(B) (if the person pay3 ing for the communication is not an individual). 

4 ‘‘(B) If the communication is transmitted 

5 through television and is paid for in whole or in 

6 part with a payment which is treated as a cam7 paign-related disbursement under section 324, 

8 the Top Five Funders list (if applicable), un9 less, on the basis of criteria established in regu10 lations issued by the Commission, the commu11 nication is of such short duration that including 

12 the Top Five Funders list in the communication 

13 would constitute a hardship to the person pay14 ing for the communication by requiring a dis15 proportionate amount of the content of the 

16 communication to consist of the Top Five 

17 Funders list. 

18 ‘‘(C) If the communication is transmitted 

19 through radio and is paid for in whole or in 

20 part with a payment which is treated as a cam21 paign-related disbursement under section 324, 

22 the Top Two Funders list (if applicable), un23 less, on the basis of criteria established in regu24 lations issued by the Commission, the commu25 nication is of such short duration that including 


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1 the Top Two Funders list in the communication 

2 would constitute a hardship to the person pay3 ing for the communication by requiring a dis4 proportionate amount of the content of the 

5 communication to consist of the Top Two 

6 Funders list. 

7 ‘‘(2) DISCLOSURE STATEMENTS DESCRIBED.— 

8 ‘‘(A) INDIVIDUAL DISCLOSURE STATE9 MENTS.—The individual disclosure statement 

10 described in this subparagraph is the following: 

11 ‘I am llllllll, and I approve this 

12 message.’, with the blank filled in with the 

13 name of the applicable individual. 

14 ‘‘(B) ORGANIZATIONAL DISCLOSURE

15 STATEMENTS.—The organizational disclosure 

16 statement described in this subparagraph is the 

17 following: ‘I am llllllll, the 

18 llllllll of llllllll, and 

19 llllllll approves this message.’, 

20 with— 

21 ‘‘(i) the first blank to be filled in with 

22 the name of the applicable individual; 

23 ‘‘(ii) the second blank to be filled in 

24 with the title of the applicable individual; 

25 and 


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1 ‘‘(iii) the third and fourth blank each 

2 to be filled in with the name of the organi3 zation or other person paying for the com4 munication. 

5 ‘‘(3) METHOD OF CONVEYANCE OF STATE6 MENT.— 

7 ‘‘(A) COMMUNICATIONS TRANSMITTED

8 THROUGH RADIO.—In the case of a communica9 tion to which this subsection applies which is 

10 transmitted through radio, the disclosure state11 ments required under paragraph (1) shall be 

12 made by audio by the applicable individual in a 

13 clearly spoken manner. 

14 ‘‘(B) COMMUNICATIONS TRANSMITTED

15 THROUGH TELEVISION.—In the case of a com16 munication to which this subsection applies 

17 which is transmitted through television, the in18 formation required under paragraph (1)— 

19 ‘‘(i) shall appear in writing at the end 

20 of the communication or in a crawl along 

21 the bottom of the communication in a 

22 clearly readable manner, with a reasonable 

23 degree of color contrast between the back24 ground and the printed statement, for a 

25 period of at least 6 seconds; and 


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1 ‘‘(ii) shall also be conveyed by an 

2 unobscured, full-screen view of the applica3 ble individual or by the applicable indi4 vidual making the statement in voice-over 

5 accompanied by a clearly identifiable pho6 tograph or similar image of the individual, 

7 except in the case of a Top Five Funders 

8 list. 

9 ‘‘(4) DEFINITIONS.—In this subsection: 

10 ‘‘(A) APPLICABLE INDIVIDUAL.—The term 

11 ‘applicable individual’ means, with respect to a 

12 communication to which this subsection ap13 plies— 

14 ‘‘(i) if the communication is paid for 

15 by an individual, the individual involved; 

16 ‘‘(ii) if the communication is paid for 

17 by a corporation, the chief executive officer 

18 of the corporation (or, if the corporation 

19 does not have a chief executive officer, the 

20 highest ranking official of the corporation); 

21 ‘‘(iii) if the communication is paid for 

22 by a labor organization, the highest rank23 ing officer of the labor organization; and 


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1 ‘‘(iv) if the communication is paid for 

2 by any other person, the highest ranking 

3 official of such person. 

4 ‘‘(B) COVERED ORGANIZATION AND CAM5 PAIGN-RELATED DISBURSEMENT.—The terms 

6 ‘campaign-related disbursement’ and ‘covered 

7 organization’ have the meaning given such 

8 terms in section 324. 

9 ‘‘(C) TOP FIVE FUNDERS LIST.—The term 

10 ‘Top Five Funders list’ means, with respect to 

11 a communication paid for in whole or in part 

12 with a payment which is treated as a campaign13 related disbursement under section 324, a list 

14 of the five persons who provided the largest 

15 payments of any type in an aggregate amount 

16 equal to or exceeding $10,000 which are re17 quired under section 324(a) to be included in 

18 the reports filed by a covered organization with 

19 respect to such communication during the 12- 

20 month period ending on the date of the dis21 bursement and the amount of the payments 

22 each such person provided. If two or more peo23 ple provided the fifth largest of such payments, 

24 the covered organization involved shall select 


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1 one of those persons to be included on the Top 

2 Five Funders list. 

3 ‘‘(D) TOP TWO FUNDERS LIST.—The term 

4 ‘Top Two Funders list’ means, with respect to 

5 a communication paid for in whole or in part 

6 with a payment which is treated as a campaign7 related disbursement under section 324, a list 

8 of the persons who provided the largest and the 

9 second largest payments of any type in an ag10 gregate amount equal to or exceeding $10,000 

11 which are required under section 324(a) to be 

12 included in the reports filed by a covered orga13 nization with respect to such communication 

14 during the 12-month period ending on the date 

15 of the disbursement and the amount of the pay16 ments each such person provided. If two or 

17 more persons provided the second largest of 

18 such payments, the covered organization in19 volved shall select one of those persons to be in20 cluded on the Top Two Funders list.’’. 

21 SEC. 4. SHAREHOLDERS’ AND MEMBERS’ RIGHT TO KNOW. 

22 Title III of the Federal Election Campaign Act of 

23 1971 (2 U.S.C. 431 et seq.) is amended by adding at the 

24 end the following new section: 


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1 ‘‘SEC. 325. DISCLOSURES BY COVERED ORGANIZATIONS TO 

2 SHAREHOLDERS, MEMBERS, AND DONORS OF 

3 INFORMATION ON CAMPAIGN-RELATED DIS4 BURSEMENTS. 

5 ‘‘(a) INFORMATION ON CAMPAIGN-RELATED DIS6 BURSEMENTS TO BE INCLUDED IN PERIODIC RE7 PORTS.—A covered organization which submits regular, 

8 periodic reports to its shareholders, members, or donors 

9 on its finances or activities shall include in each such re10 port, in a clear and conspicuous manner, the information 

11 included in the statements filed by the organization under 

12 section 324 with respect to the campaign-related disburse13 ments made by the organization during the period covered 

14 by the report. 

15 ‘‘(b) HYPERLINK TO INFORMATION INCLUDED IN

16 REPORTS FILED WITH COMMISSION.— 

17 ‘‘(1) REQUIRED POSTING OF HYPERLINK.—If a 

18 covered organization maintains an Internet site, the 

19 organization shall post on such Internet site a 

20 hyperlink from its homepage to the location on the 

21 Internet site of the Commission which contains the 

22 information included in the statements filed by the 

23 organization under section 324 with respect to cam24 paign-related disbursements. 

25 ‘‘(2) DEADLINE; DURATION OF POSTING.—The 

26 covered organization shall post the hyperlink deVerDate Mar 15 2010 00:43 Jan 11, 2013 Jkt 029200 PO 00000 Frm 00026 Fmt 6652 Sfmt 6201 E:\BILLS\H148.IH H148

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1 scribed in paragraph (1) not later than 24 hours 

2 after the Commission posts the information de3 scribed in such paragraph on the Internet site of the 

4 Commission, and shall ensure that the hyperlink re5 mains on the Internet site of the covered organiza6 tion until the expiration of the 1-year period which 

7 begins on the date of the election with respect to 

8 which the campaign-related disbursements are made. 

9 ‘‘(c) DEFINITIONS.—The terms ‘campaign-related 

10 disbursement’ and ‘covered organization’ have the mean11 ings given such terms in section 324.’’. 

12 SEC. 5. LOBBYISTS’ CAMPAIGN FUNDING DISCLOSURE. 

13 (a) DISCLOSURE OF INDEPENDENT EXPENDITURES

14 AND ELECTIONEERING COMMUNICATIONS.—Section 

15 5(d)(1) of the Lobbying Disclosure Act of 1995 (2 U.S.C. 

16 1604(d)(1)) is amended— 

17 (1) by striking ‘‘and’’ at the end of subpara18 graph (F); 

19 (2) by redesignating subparagraph (G) as sub20 paragraph (I); and 

21 (3) by inserting after subparagraph (F) the fol22 lowing new subparagraphs: 

23 ‘‘(G) the amount of any independent ex24 penditure (as defined in section 301(17) of the 

25 Federal Election Campaign Act of 1971 (2 


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1 U.S.C. 431(17))) equal to or greater than 

2 $1,000 made by such person or organization, 

3 and for each such expenditure the name of each 

4 candidate being supported or opposed and the 

5 amount spent supporting or opposing each such 

6 candidate; 

7 ‘‘(H) the amount of any electioneering 

8 communication (as defined in section 304(f)(3) 

9 of such Act (2 U.S.C. 434(f)(3))) equal to or 

10 greater than $1,000 made by such person or or11 ganization, and for each such communication 

12 the name of the candidate referred to in the 

13 communication and whether the communication 

14 involved was in support of or in opposition to 

15 the candidate; and’’. 

16 (b) DISCLOSURE OF AMOUNTS PROVIDED TO CER17 TAIN POLITICAL COMMITTEES.—Section 5(d)(1)(D) of 

18 such Act (2 U.S.C. 1605(d)(1)(D)) is amended by striking 

19 ‘‘or political party committee,’’ and inserting the following: 

20 ‘‘political party committee, or political committee which is 

21 treated as a covered organization under section 

22 324(f)(1)(D) of the Federal Election Campaign Act of 

23 1971,’’. 

24 (c) EFFECTIVE DATE.—The amendments made by 

25 this section shall apply with respect to reports for semiVerDate Mar 15 2010 01:44 Jan 11, 2013 Jkt 029200 PO 00000 Frm 00028 Fmt 6652 Sfmt 6201 E:\BILLS\H148.IH H148

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1 annual periods described in section 5(d)(1) of the Lob2 bying Disclosure Act of 1995 that begin after the date 

3 of the enactment of this Act. 

4 SEC. 6. SEVERABILITY. 

5 If any provision of this Act or amendment made by 

6 this Act, or the application of a provision or amendment 

7 to any person or circumstance, is held to be unconstitu8 tional, the remainder of this Act and amendments made 

9 by this Act, and the application of the provisions and 

10 amendment to any person or circumstance, shall not be 

11 affected by the holding. 

12 SEC. 7. EFFECTIVE DATE. 

13 Except as provided in section 5, the amendments 

14 made by this Act shall apply with respect to disbursements 

15 made on or after July 1, 2013. 

Æ 


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