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[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 6 Introduced in Senate (IS)]

<DOC>

114th CONGRESS
  2d Session
                                  S. 6

  To reform our government, reduce the grip of special interest, and 
     return our democracy to the American people through increased 
      transparency and oversight of our elections and government.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             June 16, 2016

 Mr. Udall (for himself, Mr. Merkley, Mr. Whitehouse, Mr. Schumer, Ms. 
 Baldwin, Mr. Bennet, Mr. Leahy, Mr. King, Mr. Franken, Ms. Heitkamp, 
 Ms. Klobuchar, Ms. Warren, Mr. Markey, Mr. Schatz, Mr. Sanders, Mrs. 
    Gillibrand, Mr. Wyden, Mr. Heinrich, Mr. Peters, Mr. Brown, Mr. 
  Blumenthal, Ms. Hirono, Mr. Murphy, Mr. Casey, Mr. Cardin, and Mr. 
Coons) introduced the following bill; which was read twice and referred 
              to the Committee on Rules and Administration

_______________________________________________________________________

                                 A BILL

 
  To reform our government, reduce the grip of special interest, and 
     return our democracy to the American people through increased 
      transparency and oversight of our elections and government.

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

SECTION 1. SHORT TITLE, ETC.

    (a) Short Title.--This Act may be cited as the ``We the People Act 
of 2016''.
    (b) Table of Contents.--The table of contents of this Act is as 
follows:

Sec. 1. Short title, etc.
          TITLE I--CAMPAIGN DISCLOSURE AND TRANSPARENCY REFORM

                         Subtitle A--Disclosure

Sec. 1001. Short title.
Sec. 1002. Campaign disbursement reporting.
Sec. 1003. Application of disclosure rules to Super PACs.
Sec. 1004. Effective date.
              Subtitle B--Candidate-Super PAC Coordination

Sec. 1101. Short title.
Sec. 1102. Clarification of treatment of coordinated expenditures as 
                            contributions to candidates.
Sec. 1103. Clarification of ban on fundraising for Super PACs by 
                            Federal candidates and officeholders.
                   Subtitle C--Real-Time Transparency

Sec. 1201. Short title.
Sec. 1202. 48-hour notification required for all political committees 
                            receiving cumulative contributions of 
                            $1,000 or more during a year from any 
                            contributor.
Sec. 1203. Filing by Senate candidates with Federal Election 
                            Commission.
      Subtitle D--Establishment of Federal Election Administration

Sec. 1301. Short title.
                Part I--Federal Election Administration

Sec. 1311. Establishment of the Federal Election Administration.
Sec. 1312. Executive schedule positions.
Sec. 1313. GAO examination of enforcement of campaign finance laws by 
                            the Department of Justice.
Sec. 1314. GAO study and report on appropriate funding levels.
Sec. 1315. Conforming amendments.
                     Part II--Transition Provisions

Sec. 1321. Transfer of functions of Federal Election Commission.
Sec. 1322. Transfer of property, records, and personnel.
Sec. 1323. Repeals.
Sec. 1324. Conforming amendments.
Sec. 1325. Treatment of certain regulations.
Sec. 1326. Effective date.
                       TITLE II--LOBBYING REFORM

                   Subtitle A--Member Ban on Lobbying

Sec. 2101. Lifetime ban on Members of Congress from lobbying.
           Subtitle B--Close the 20-Percent Lobbying Loophole

Sec. 2201. Lobbyist registration reforms.
                    TITLE III--REVOLVING DOOR REFORM

Sec. 3001. Short title.
Sec. 3002. Restrictions on private sector payment for Government 
                            service.
Sec. 3003. Requirements relating to slowing the revolving door among 
                            financial services regulators.
Sec. 3004. Prohibition of procurement officers accepting employment 
                            from Government contractors.
Sec. 3005. Revolving door restrictions on financial services regulators 
                            moving into the private sector.
Sec. 3006. Restrictions on Federal examiners and supervisors of 
                            financial institutions.
                         TITLE IV--SEVERABILITY

Sec. 4001. Severability.

          TITLE I--CAMPAIGN DISCLOSURE AND TRANSPARENCY REFORM

                         Subtitle A--Disclosure

SEC. 1001. SHORT TITLE.

    This subtitle may be cited as the ``Democracy Is Strengthened by 
Casting Light On Spending in Elections Act of 2016'' or the ``DISCLOSE 
Act of 2016''.

SEC. 1002. CAMPAIGN DISBURSEMENT REPORTING.

    (a) Information Required To Be Reported.--
            (1) Treatment of functional equivalent of express advocacy 
        as independent expenditure.--Subparagraph (A) of section 
        301(17) of the Federal Election Campaign Act of 1971 (52 U.S.C. 
        30101(17)) is amended to read as follows:
                    ``(A) that expressly advocates the election or 
                defeat of a clearly identified candidate, or is the 
                functional equivalent of express advocacy because, when 
                taken as a whole, it can be interpreted by a reasonable 
                person only as advocating the election or defeat of a 
                candidate, taking into account whether the 
                communication involved mentions a candidacy, a 
                political party, or a challenger to a candidate, or 
                takes a position on a candidate's character, 
                qualifications, or fitness for office; and''.
            (2) Expansion of period during which communications are 
        treated as electioneering communications.--Section 
        304(f)(3)(A)(i) of such Act (52 U.S.C. 30104(f)(3)(A)(i)) is 
        amended--
                    (A) by redesignating subclause (III) as subclause 
                (IV); and
                    (B) by striking subclause (II) and inserting the 
                following:
                                    ``(II) in the case of a 
                                communication which refers to a 
                                candidate for an office other than the 
                                President or Vice President, is made 
                                during the period beginning on January 
                                1 of the calendar year in which a 
                                general or runoff election is held and 
                                ending on the date of the general or 
                                runoff election (or in the case of a 
                                special election, during the period 
                                beginning on the date on which the 
                                announcement with respect to such 
                                election is made and ending on the date 
                                of the special election);
                                    ``(III) in the case of a 
                                communication which refers to a 
                                candidate for the office of President 
                                or Vice President, is made in any State 
                                during the period beginning 120 days 
                                before the first primary election, 
                                caucus, or preference election held for 
                                the selection of delegates to a 
                                national nominating convention of a 
                                political party is held in any State 
                                (or, if no such election or caucus is 
                                held in any State, the first convention 
                                or caucus of a political party which 
                                has the authority to nominate a 
                                candidate for the office of President 
                                or Vice President) and ending on the 
                                date of the general election; and''.
            (3) Effective date; transition for electioneering 
        communications made prior to enactment.--The amendment made by 
        paragraph (2) shall apply with respect to communications made 
        on or after January 1, 2017, except that no communication which 
        is made prior to such date shall be treated as an 
        electioneering communication under subclause (II) or (III) of 
        section 304(f)(3)(A)(i) of the Federal Election Campaign Act of 
        1971 (as amended by paragraph (2)) unless the communication 
        would be treated as an electioneering communication under such 
        section if the amendment made by paragraph (2) did not apply.
    (b) Disclosure Requirements for Corporations, Labor Organizations, 
and Certain Other Entities.--
            (1) In general.--Section 324 of the Federal Election 
        Campaign Act of 1971 (52 U.S.C. 30126) is amended to read as 
        follows:

``SEC. 324. DISCLOSURE OF CAMPAIGN-RELATED DISBURSEMENTS BY COVERED 
              ORGANIZATIONS.

    ``(a) Disclosure Statement.--
            ``(1) In general.--Any covered organization that makes 
        campaign-related disbursements aggregating more than $10,000 in 
        an election reporting cycle shall, not later than 24 hours 
        after each disclosure date, file a statement with the 
        Commission made under penalty of perjury that contains the 
        information described in paragraph (2)--
                    ``(A) in the case of the first statement filed 
                under this subsection, for the period beginning on the 
                first day of the election reporting cycle and ending on 
                the first such disclosure date; and
                    ``(B) in the case of any subsequent statement filed 
                under this subsection, for the period beginning on the 
                previous disclosure date and ending on such disclosure 
                date.
            ``(2) Information described.--The information described in 
        this paragraph is as follows:
                    ``(A) The name of the covered organization and the 
                principal place of business of such organization.
                    ``(B) The amount of each campaign-related 
                disbursement made by such organization during the 
                period covered by the statement of more than $1,000, 
                and the name and address of the person to whom the 
                disbursement was made.
                    ``(C) In the case of a campaign-related 
                disbursement that is not a covered transfer, the 
                election to which the campaign-related disbursement 
                pertains and if the disbursement is made for a public 
                communication, the name of any candidate identified in 
                such communication and whether such communication is in 
                support of or in opposition to a candidate.
                    ``(D) A certification by the chief executive 
                officer or person who is the head of the covered 
                organization that the campaign-related disbursement is 
                not made in cooperation, consultation, or concert with 
                or at the request or suggestion of a candidate, 
                authorized committee, or agent of a candidate, 
                political party, or agent of a political party.
                    ``(E) If the covered organization makes campaign-
                related disbursements using exclusively funds in a 
                segregated bank account consisting of funds that were 
                paid directly to such account by persons other than the 
                covered organization that controls the account, for 
                each such payment to the account--
                            ``(i) the name and address of each person 
                        who made such payment during the period covered 
                        by the statement;
                            ``(ii) the date and amount of such payment; 
                        and
                            ``(iii) the aggregate amount of all such 
                        payments made by the person during the period 
                        beginning on the first day of the election 
                        reporting cycle and ending on the disclosure 
                        date,
                but only if such payment was made by a person who made 
                payments to the account in an aggregate amount of 
                $10,000 or more during the period beginning on the 
                first day of the election reporting cycle and ending on 
                the disclosure date.
                    ``(F) If the covered organization makes campaign-
                related disbursements using funds other than funds in a 
                segregated bank account described in subparagraph (E), 
                for each payment to the covered organization--
                            ``(i) the name and address of each person 
                        who made such payment during the period covered 
                        by the statement;
                            ``(ii) the date and amount of such payment; 
                        and
                            ``(iii) the aggregate amount of all such 
                        payments made by the person during the period 
                        beginning on the first day of the election 
                        reporting cycle and ending on the disclosure 
                        date,
                but only if such payment was made by a person who made 
                payments to the covered organization in an aggregate 
                amount of $10,000 or more during the period beginning 
                on the first day of the election reporting cycle and 
                ending on the disclosure date.
                    ``(G) Such other information as required in rules 
                established by the Commission to promote the purposes 
                of this section.
            ``(3) Exceptions.--
                    ``(A) Amounts received in ordinary course of 
                business.--The requirement to include in a statement 
                filed under paragraph (1) the information described in 
                paragraph (2) shall not apply to amounts received by 
                the covered organization in commercial transactions in 
                the ordinary course of any trade or business conducted 
                by the covered organization or in the form of 
                investments (other than investments by the principal 
                shareholder in a limited liability corporation) in the 
                covered organization.
                    ``(B) Donor restriction on use of funds.--The 
                requirement to include in a statement submitted under 
                paragraph (1) the information described in subparagraph 
                (F) of paragraph (2) shall not apply if--
                            ``(i) the person described in such 
                        subparagraph prohibited, in writing, the use of 
                        the payment made by such person for campaign-
                        related disbursements; and
                            ``(ii) the covered organization agreed to 
                        follow the prohibition and deposited the 
                        payment in an account which is segregated from 
                        any account used to make campaign-related 
                        disbursements.
                    ``(C) Amounts received from affiliates.--The 
                requirement to include in a statement submitted under 
                paragraph (1) the information described in subparagraph 
                (F) of paragraph (2) shall not apply to any amount 
                which is described in subsection (f)(3)(A)(i).
            ``(4) Other definitions.--For purposes of this section:
                    ``(A) Disclosure date.--The term `disclosure date' 
                means--
                            ``(i) the first date during any election 
                        reporting cycle by which a person has made 
                        campaign-related disbursements aggregating more 
                        than $10,000; and
                            ``(ii) any other date during such election 
                        reporting cycle by which a person has made 
                        campaign-related disbursements aggregating more 
                        than $10,000 since the most recent disclosure 
                        date for such election reporting cycle.
                    ``(B) Election reporting cycle.--The term `election 
                reporting cycle' means the 2-year period beginning on 
                the date of the most recent general election for 
                Federal office.
                    ``(C) Payment.--The term `payment' includes any 
                contribution, donation, transfer, payment of dues, or 
                other payment.
    ``(b) Coordination With Other Provisions.--
            ``(1) Other reports filed with the commission.--Information 
        included in a statement filed under this section may be 
        excluded from statements and reports filed under section 304.
            ``(2) Treatment as separate segregated fund.--A segregated 
        bank account referred to in subsection (a)(2)(E) may be treated 
        as a separate segregated fund for purposes of section 527(f)(3) 
        of the Internal Revenue Code of 1986.
    ``(c) Filing.--Statements required to be filed under subsection (a) 
shall be subject to the requirements of section 304(d) to the same 
extent and in the same manner as if such reports had been required 
under subsection (c) or (g) of section 304.
    ``(d) Campaign-Related Disbursement Defined.--In this section, the 
term `campaign-related disbursement' means a disbursement by a covered 
organization for any of the following:
            ``(1) An independent expenditure consisting of a public 
        communication.
            ``(2) An electioneering communication, as defined in 
        section 304(f)(3).
            ``(3) A covered transfer.
    ``(e) Covered Organization Defined.--In this section, the term 
`covered organization' means any of the following:
            ``(1) A corporation (other than an organization described 
        in section 501(c)(3) of the Internal Revenue Code of 1986).
            ``(2) An organization described in section 501(c) of such 
        Code and exempt from taxation under section 501(a) of such Code 
        (other than an organization described in section 501(c)(3) of 
        such Code).
            ``(3) A labor organization (as defined in section 316(b)).
            ``(4) Any political organization under section 527 of the 
        Internal Revenue Code of 1986, other than a political committee 
        under this Act.
    ``(f) Covered Transfer Defined.--
            ``(1) In general.--In this section, the term `covered 
        transfer' means any transfer or payment of funds by a covered 
        organization to another person if the covered organization--
                    ``(A) designates, requests, or suggests that the 
                amounts be used for--
                            ``(i) campaign-related disbursements (other 
                        than covered transfers); or
                            ``(ii) making a transfer to another person 
                        for the purpose of making or paying for such 
                        campaign-related disbursements;
                    ``(B) made such transfer or payment in response to 
                a solicitation or other request for a donation or 
                payment for--
                            ``(i) the making of or paying for campaign-
                        related disbursements (other than covered 
                        transfers); or
                            ``(ii) making a transfer to another person 
                        for the purpose of making or paying for such 
                        campaign-related disbursements;
                    ``(C) engaged in discussions with the recipient of 
                the transfer or payment regarding--
                            ``(i) the making of or paying for campaign-
                        related disbursements (other than covered 
                        transfers); or
                            ``(ii) donating or transferring any amount 
                        of such transfer or payment to another person 
                        for the purpose of making or paying for such 
                        campaign-related disbursements;
                    ``(D) made campaign-related disbursements (other 
                than a covered transfer) in an aggregate amount of 
                $50,000 or more during the 2-year period ending on the 
                date of the transfer or payment, or knew or had reason 
                to know that the person receiving the transfer or 
                payment made such disbursements in such an aggregate 
                amount during that 2-year period; or
                    ``(E) knew or had reason to know that the person 
                receiving the transfer or payment would make campaign-
                related disbursements in an aggregate amount of $50,000 
                or more during the 2-year period beginning on the date 
                of the transfer or payment.
            ``(2) Exclusions.--The term `covered transfer' does not 
        include any of the following:
                    ``(A) A disbursement made by a covered organization 
                in a commercial transaction in the ordinary course of 
                any trade or business conducted by the covered 
                organization or in the form of investments made by the 
                covered organization.
                    ``(B) A disbursement made by a covered organization 
                if--
                            ``(i) the covered organization prohibited, 
                        in writing, the use of such disbursement for 
                        campaign-related disbursements; and
                            ``(ii) the recipient of the disbursement 
                        agreed to follow the prohibition and deposited 
                        the disbursement in an account which is 
                        segregated from any account used to make 
                        campaign-related disbursements.
            ``(3) Exception for certain transfers among affiliates.--
                    ``(A) Exception for certain transfers among 
                affiliates.--
                            ``(i) In general.--The term `covered 
                        transfer' does not include an amount 
                        transferred by one covered organization to 
                        another covered organization if such transfer--
                                    ``(I) is not made directly into a 
                                separate segregated bank account 
                                described in subsection (a)(2)(E); and
                                    ``(II) is treated as a transfer 
                                between affiliates under subparagraph 
                                (B).
                            ``(ii) Special rule.--If the aggregate 
                        amount of transfers described in clause (i) 
                        exceeds $50,000 in any election reporting 
                        cycle--
                                    ``(I) the covered organization 
                                which makes such transfers shall 
                                provide to the covered organization 
                                receiving such transfers the 
                                information required under subsection 
                                (a)(2)(F) (applied by substituting `the 
                                period beginning on the first day of 
                                the election reporting cycle and ending 
                                on the date of the most recent transfer 
                                described in subsection (f)(3)(A)(i)' 
                                for `the period covered by the 
                                statement' in clause (i) thereof); and
                                    ``(II) the covered organization 
                                receiving such transfers shall report 
                                the information described in subclause 
                                (I) on any statement filed under 
                                subsection (a)(1) as if any 
                                contribution, donation, or transfer to 
                                which such information relates was made 
                                directly to the covered organization 
                                receiving the transfer.
                    ``(B) Description of transfers between 
                affiliates.--A transfer of amounts from one covered 
                organization to another covered organization shall be 
                treated as a transfer between affiliates if--
                            ``(i) one of the organizations is an 
                        affiliate of the other organization; or
                            ``(ii) each of the organizations is an 
                        affiliate of the same organization,
                except that the transfer shall not be treated as a 
                transfer between affiliates if one of the organizations 
                is established for the purpose of making campaign-
                related disbursements.
                    ``(C) Determination of affiliate status.--For 
                purposes of this paragraph, the following organizations 
                shall be considered to be affiliated with each other:
                            ``(i) A membership organization, including 
                        a trade or professional association, and the 
                        related State and local entities of that 
                        organization.
                            ``(ii) A national or international labor 
                        organization and its State or local unions, or 
                        an organization of national or international 
                        unions and its State and local entities.
                            ``(iii) A corporation and its wholly owned 
                        subsidiaries.
                    ``(D) Coverage of transfers to affiliated section 
                501(c)(3) organizations.--This paragraph shall apply 
                with respect to an amount transferred by a covered 
                organization to an organization described in paragraph 
                (3) of section 501(c) of the Internal Revenue Code of 
                1986 and exempt from tax under section 501(a) of such 
                Code in the same manner as this paragraph applies to an 
                amount transferred by a covered organization to another 
                covered organization.''.
            (2) Conforming amendment.--Section 304(f)(6) of such Act 
        (52 U.S.C. 30104) is amended by striking ``Any requirement'' 
        and inserting ``Except as provided in section 324(b), any 
        requirement''.

SEC. 1003. APPLICATION OF DISCLOSURE RULES TO SUPER PACS.

    (a) In General.--Subsection (e) of section 324 of the Federal 
Election Campaign Act of 1971 (52 U.S.C. 30126), as amended by section 
1002, is amended by adding at the end the following new paragraph:
            ``(5) A political committee with an account that accepts 
        donations or contributions that do not comply with the 
        contribution limits or source prohibitions under this Act, but 
        only with respect to such accounts.''.
    (b) Conforming Amendment.--Paragraph (4) of section 324(e) of such 
Act (52 U.S.C. 30126), as amended by section 1002, is amended by 
inserting ``(except as provided in paragraph (5))'' before the period 
at the end.

SEC. 1004. EFFECTIVE DATE.

    Except as provided in section 102(a)(3), the amendments made by 
this subtitle shall apply with respect to disbursements made on or 
after January 1, 2017, and shall take effect without regard to whether 
or not the Federal Election Commission has promulgated regulations to 
carry out such amendments.

              Subtitle B--Candidate-Super PAC Coordination

SEC. 1101. SHORT TITLE.

    This subtitle may be cited as the ``Stop Super PAC-Candidate 
Coordination Act''.

SEC. 1102. CLARIFICATION OF TREATMENT OF COORDINATED EXPENDITURES AS 
              CONTRIBUTIONS TO CANDIDATES.

    (a) Treatment as Contribution to Candidate.--Section 301(8)(A) of 
the Federal Election Campaign Act of 1971 (52 U.S.C. 30101(8)(A)) is 
amended--
            (1) by striking ``or'' at the end of clause (i);
            (2) by striking the period at the end of clause (ii) and 
        inserting ``; or''; and
            (3) by adding at the end the following new clause:
                    ``(iii) any payment made by any person (other than 
                a candidate, an authorized committee of a candidate, or 
                a political committee of a political party) for a 
                coordinated expenditure (as such term is defined in 
                section 325) which is not otherwise treated as a 
                contribution under clause (i) or clause (ii).''.
    (b) Definitions.--Title III of such Act (52 U.S.C. 30101 et seq.), 
as amended by this Act, is amended to by adding at the end the 
following new section:

``SEC. 325. PAYMENTS FOR COORDINATED EXPENDITURES.

    ``(a) Coordinated Expenditures.--
            ``(1) In general.--For purposes of section 301(8)(A)(iii), 
        the term `coordinated expenditure' means--
                    ``(A) any expenditure, or any payment for a covered 
                communication described in subsection (d), which is 
                made in cooperation, consultation, or concert with, or 
                at the request or suggestion of, a candidate, an 
                authorized committee of a candidate, a political 
                committee of a political party, or agents of the 
                candidate or committee, as defined in subsection (b); 
                or
                    ``(B) any payment for any communication which 
                republishes, disseminates, or distributes, in whole or 
                in part, any video or broadcast or any written, 
                graphic, or other form of campaign material prepared by 
                the candidate or committee or by agents of the 
                candidate or committee (including any excerpt or use of 
                any video from any such broadcast or written, graphic, 
                or other form of campaign material).
            ``(2) Exception for payments for certain communications.--A 
        payment for a communication (including a covered communication 
        described in subsection (d)) shall not be treated as a 
        coordinated expenditure under this subsection if--
                    ``(A) the communication appears 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; or
                    ``(B) the communication constitutes a candidate 
                debate or forum conducted pursuant to regulations 
                adopted by the Commission pursuant to section 
                304(f)(3)(B)(iii), or which solely promotes such a 
                debate or forum and is made by or on behalf of the 
                person sponsoring the debate or forum.
    ``(b) Coordination Described.--
            ``(1) In general.--For purposes of this section, a payment 
        is made `in cooperation, consultation, or concert with, or at 
        the request or suggestion of,' a candidate, an authorized 
        committee of a candidate, a political committee of a political 
        party, or agents of the candidate or committee, if the payment, 
        or any communication for which the payment is made, is not made 
        entirely independently of the candidate, committee, or agents. 
        For purposes of the previous sentence, a payment or 
        communication not made entirely independently of the candidate 
        or committee includes any payment or communication made 
        pursuant to any general or particular understanding with, or 
        pursuant to any communication with, the candidate, committee, 
        or agents about the payment or communication.
            ``(2) No finding of coordination based solely on sharing of 
        information regarding legislative or policy position.--For 
        purposes of this section, a payment shall not be considered to 
        be made by a person in cooperation, consultation, or concert 
        with, or at the request or suggestion of, a candidate or 
        committee, solely on the grounds that the person or the 
        person's agent engaged in discussions with the candidate or 
        committee, or with any agent of the candidate or committee, 
        regarding that person's position on a legislative or policy 
        matter (including urging the candidate or committee to adopt 
        that person's position), so long as there is no communication 
        between the person and the candidate or committee, or any agent 
        of the candidate or committee, regarding the candidate's or 
        committee's campaign advertising, message, strategy, policy, 
        polling, allocation of resources, fundraising, or other 
        campaign activities.
            ``(3) No effect on party coordination standard.--Nothing in 
        this section shall be construed to affect the determination of 
        coordination between a candidate and a political committee of a 
        political party for purposes of section 315(d).
            ``(4) No safe harbor for use of firewall.--A person shall 
        be determined to have made a payment in cooperation, 
        consultation, or concert with, or at the request or suggestion 
        of, a candidate or committee, in accordance with this section 
        without regard to whether or not the person established and 
        used a firewall or similar procedures to restrict the sharing 
        of information between individuals who are employed by or who 
        are serving as agents for the person making the payment.
    ``(c) Payments by Coordinated Spenders for Covered 
Communications.--
            ``(1) Payments made in cooperation, consultation, or 
        concert with candidates.--For purposes of subsection (a)(1)(A), 
        if the person who makes a payment for a covered communication, 
        as defined in subsection (d), is a coordinated spender under 
        paragraph (2) with respect to the candidate as described in 
        subsection (d)(1), the payment for the covered communication is 
        made in cooperation, consultation, or concert with the 
        candidate.
            ``(2) Coordinated spender defined.--For purposes of this 
        subsection, the term `coordinated spender' means, with respect 
        to a candidate or an authorized committee of a candidate, a 
        person (other than a political committee of a political party) 
        for which any of the following applies:
                    ``(A) During the 4-year period ending on the date 
                on which the person makes the payment, the person was 
                directly or indirectly formed or established by or at 
                the request or suggestion of, or with the encouragement 
                of, the candidate (including an individual who later 
                becomes a candidate) or committee or agents of the 
                candidate or committee, including with the approval of 
                the candidate or committee or agents of the candidate 
                or committee.
                    ``(B) The candidate or committee or any agent of 
                the candidate or committee solicits funds, appears at a 
                fundraising event, or engages in other fundraising 
                activity on the person's behalf during the election 
                cycle involved, including by providing the person with 
                names of potential donors or other lists to be used by 
                the person in engaging in fundraising activity, 
                regardless of whether the person pays fair market value 
                for the names or lists provided. For purposes of this 
                subparagraph, the term `election cycle' means, with 
                respect to an election for Federal office, the period 
                beginning on the day after the date of the most recent 
                general election for that office (or, if the general 
                election resulted in a runoff election, the date of the 
                runoff election) and ending on the date of the next 
                general election for that office (or, if the general 
                election resulted in a runoff election, the date of the 
                runoff election).
                    ``(C) The person is established, directed, or 
                managed by the candidate or committee or by any person 
                who, during the 4-year period ending on the date on 
                which the person makes the payment, has been employed 
                or retained as a political, campaign media, or 
                fundraising adviser or consultant for the candidate or 
                committee or for any other entity directly or 
                indirectly controlled by the candidate or committee, or 
                has held a formal position with the candidate or 
                committee.
                    ``(D) The person has retained the professional 
                services of any person who, during the 2-year period 
                ending on the date on which the person makes the 
                payment, has provided or is providing professional 
                services relating to the campaign to the candidate or 
                committee. For purposes of this subparagraph, the term 
                `professional services' includes any services in 
                support of the candidate's or committee's campaign 
                activities, including advertising, message, strategy, 
                policy, polling, allocation of resources, fundraising, 
                and campaign operations, but does not include 
                accounting or legal services.
                    ``(E) The person is established, directed, or 
                managed by a member of the immediate family of the 
                candidate, or the person or any officer or agent of the 
                person has had more than incidental discussions about 
                the candidate's campaign with a member of the immediate 
                family of the candidate. For purposes of this 
                subparagraph, the term `immediate family' has the 
                meaning given such term in section 9004(e) of the 
                Internal Revenue Code of 1986.
    ``(d) Covered Communication Defined.--
            ``(1) In general.--For purposes of this section, the term 
        `covered communication' means, with respect to a candidate or 
        an authorized committee of a candidate, a public communication 
        (as defined in section 301(22)) which--
                    ``(A) expressly advocates the election of the 
                candidate or the defeat of an opponent of the candidate 
                (or contains the functional equivalent of express 
                advocacy);
                    ``(B) promotes or supports the candidate, or 
                attacks or opposes an opponent of the candidate 
                (regardless of whether the communication expressly 
                advocates the election or defeat of a candidate or 
                contains the functional equivalent of express 
                advocacy); or
                    ``(C) refers to the candidate or an opponent of the 
                candidate but is not described in subparagraph (A) or 
                subparagraph (B), but only if the communication is 
                disseminated during the applicable election period.
            ``(2) Applicable election period.--In paragraph (1)(B), the 
        `applicable election period' with respect to a communication 
        means--
                    ``(A) in the case of a communication which refers 
                to a candidate in a general, special, or runoff 
                election, the 120-day period which ends on the date of 
                the election; or
                    ``(B) in the case of a communication which refers 
                to a candidate in a primary or preference election, or 
                convention or caucus of a political party that has 
                authority to nominate a candidate, the 60-day period 
                which ends on the date of the election or convention or 
                caucus.
            ``(3) Special rules for communications involving 
        congressional candidates.--For purposes of this subsection, a 
        public communication shall not be considered to be a covered 
        communication with respect to a candidate for election for an 
        office other than the office of President or Vice President 
        unless it is publicly disseminated or distributed in the 
        jurisdiction of the office the candidate is seeking.
    ``(e) Penalty.--
            ``(1) Determination of amount.--Any person who knowingly 
        and willfully commits a violation of this Act by making a 
        contribution which consists of a payment for a coordinated 
        expenditure shall be fined an amount equal to the greater of--
                    ``(A) in the case of a person who makes a 
                contribution which consists of a payment for a 
                coordinated expenditure in an amount exceeding the 
                applicable contribution limit under this Act, 300 
                percent of the amount by which the amount of the 
                payment made by the person exceeds such applicable 
                contribution limit; or
                    ``(B) in the case of a person who is prohibited 
                under this Act from making a contribution in any 
                amount, 300 percent of the amount of the payment made 
                by the person for the coordinated expenditure.
            ``(2) Joint and several liability.--Any director, manager 
        or officer of a person who is subject to a penalty under 
        paragraph (1) shall be jointly and severally liable for any 
        amount of such penalty that is not paid by the person prior to 
        the expiration of the 1-year period which begins on the date 
        the Commission imposes the penalty or the 1-year period which 
        begins on the date of the final judgment following any judicial 
        review of the Commission's action, whichever is later.''.
    (c) Effective Date.--
            (1) Repeal of existing regulations on coordination.--
        Effective upon the expiration of the 90-day period which begins 
        on the date of the enactment of this Act--
                    (A) the regulations on coordinated communications 
                adopted by the Federal Election Commission which are in 
                effect on the date of the enactment of this Act (as set 
                forth in 11 C.F.R. Part 109, Subpart C, under the 
                heading ``Coordination'') are repealed; and
                    (B) the Federal Election Commission shall 
                promulgate new regulations on coordinated 
                communications which reflect the amendments made by 
                this title.
            (2) Effective date.--The amendments made by this section 
        shall apply with respect to payments made on or after the 
        expiration of the 120-day period which begins on the date of 
        the enactment of this Act, without regard to whether or not the 
        Federal Election Commission has promulgated regulations in 
        accordance with paragraph (1)(B) as of the expiration of such 
        period.

SEC. 1103. CLARIFICATION OF BAN ON FUNDRAISING FOR SUPER PACS BY 
              FEDERAL CANDIDATES AND OFFICEHOLDERS.

    (a) In General.--Section 323(e)(1) of the Federal Election Campaign 
Act of 1971 (52 U.S.C. 30125(e)(1)) is amended--
            (1) by striking ``or'' at the end of subparagraph (A);
            (2) by striking the period at the end of subparagraph (B) 
        and inserting ``; or''; and
            (3) by adding at the end the following new subparagraph:
                    ``(C) solicit, receive, direct, or transfer funds 
                to or on behalf of any political committee which 
                accepts donations or contributions that do not comply 
                with the limitations, prohibitions, and reporting 
                requirements of this Act (or to or on behalf of any 
                account of a political committee which is established 
                for the purpose of accepting such donations or 
                contributions), or to or on behalf of any political 
                organization under section 527 of the Internal Revenue 
                Code of 1986 which accepts such donations or 
                contributions (other than a committee of a State or 
                local political party or a candidate for election for 
                State or local office).''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply with respect to elections occurring after January 1, 2017.

                   Subtitle C--Real-Time Transparency

SEC. 1201. SHORT TITLE.

    This subtitle may be cited as the ``Real Time Transparency Act''.

SEC. 1202. 48-HOUR NOTIFICATION REQUIRED FOR ALL POLITICAL COMMITTEES 
              RECEIVING CUMULATIVE CONTRIBUTIONS OF $1,000 OR MORE 
              DURING A YEAR FROM ANY CONTRIBUTOR.

    (a) Notification.--Section 304(a)(6)(A) of the Federal Election 
Campaign Act of 1971 (2 U.S.C. 434(a)(6)(A)) is amended to read as 
follows:
    ``(A)(i) If a political committee receives an aggregate amount of 
contributions equal to or greater than $1,000 from any contributor 
during a calendar year, the committee shall submit a notification to 
the Commission containing the name of the committee (and, in the case 
of an authorized committee of a candidate, the name of the candidate 
and the office sought by the candidate), the identification of the 
contributor, and the date of receipt and amount of the contributions 
involved.
    ``(ii) If, at any time after a political committee is required to 
submit a notification under this subparagraph with respect to a 
contributor during a calendar year, the political committee receives 
additional contributions from that contributor during that year, the 
committee shall submit an additional notification under clause (i) with 
respect to such contributor each time the aggregate amount of the 
additional contributions received from the contributor during the year 
equals or exceeds $1,000 (excluding the amount of any contribution for 
which information is required to be included in a previous notification 
under this subparagraph).
    ``(iii) The political committee shall submit the notification 
required under this subparagraph with respect to a contributor--
            ``(I) in the case of a notification described in clause 
        (i), not later than 48 hours after the date on which the 
        aggregate amount of contributions received from the contributor 
        during the calendar year first equals or exceeds $1,000; or
            ``(II) in the case of an additional notification described 
        in clause (ii), not later than 48 hours after the date on which 
        the aggregate amount of contributions received from the 
        contributor during the calendar year for which information was 
        not already included in a notification under this subparagraph 
        first equals or exceeds $1,000.
    ``(iv) For purposes of this subparagraph, any amount transferred by 
a joint fundraising committee which is established by an authorized 
committee of a candidate to any other authorized committee of that 
candidate shall be treated as a contribution by the joint fundraising 
committee to such authorized committee.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply with respect to contributions received by a political committee 
under the Federal Election Campaign Act of 1971 during 2016 or any 
succeeding year, except that nothing in such amendment may be construed 
to require a political committee which does not receive contributions 
during the portion of 2016 which occurs after the date of the enactment 
of this Act to meet the requirements of section 304(a)(6)(A) of the 
Federal Election Campaign Act of 1971, as amended by subsection (a).

SEC. 1203. FILING BY SENATE CANDIDATES WITH FEDERAL ELECTION 
              COMMISSION.

    (a) Mandatory Filing With FEC.--Section 302(g) of the Federal 
Election Campaign Act of 1971 (2 U.S.C. 432(g)) is amended to read as 
follows:
    ``(g) Filing With the Commission.--All designations, statements, 
and reports required to be filed under this Act shall be filed with the 
Commission.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply with respect to materials filed on or after the date of the 
enactment of this Act.

      Subtitle D--Establishment of Federal Election Administration

SEC. 1301. SHORT TITLE.

    This subtitle may be cited as the ``Federal Election Administration 
Act of 2016''.

                PART I--FEDERAL ELECTION ADMINISTRATION

SEC. 1311. ESTABLISHMENT OF THE FEDERAL ELECTION ADMINISTRATION.

    (a) In General.--Title III of the Federal Election Campaign Act of 
1971 (52 U.S.C. 30101 et seq.) is amended by adding at the end the 
following new subtitle:

                ``Subtitle B--Administrative Provisions

   ``CHAPTER 1--ESTABLISHMENT OF THE FEDERAL ELECTION ADMINISTRATION

``SEC. 351. ESTABLISHMENT OF THE FEDERAL ELECTION ADMINISTRATION.

    ``(a) In General.--There is established the Federal Election 
Administration (in this Act referred to as the `Administration').
    ``(b) Independent Establishment.--The Administration shall be an 
independent establishment (as defined in section 104 of title 5, United 
States Code).
    ``(c) Purpose.--The Administration shall administer, seek to obtain 
compliance with, enforce, and formulate policy in a manner that is 
consistent with the language and intent of Congress with respect to the 
following statutes:
            ``(1) This Act.
            ``(2) The Presidential Election Campaign Fund Act under 
        chapter 95 of the Internal Revenue Code of 1986.
            ``(3) The Presidential Primary Matching Payment Account Act 
        under chapter 96 of the Internal Revenue Code of 1986.
    ``(d) Exclusive Civil Jurisdiction.--The Administration shall have 
exclusive jurisdiction with respect to the civil enforcement of the 
statutes identified in subsection (c).
    ``(e) Voting Requirement.--All decisions of the Administration with 
respect to the exercise of its duties and powers under this Act, except 
those expressly reserved for decision by the Chair, shall be made by a 
majority vote of its members.
    ``(f) Meetings and Quorum.--
            ``(1) Meetings.--The Administration shall meet--
                    ``(A) at least once each month; and
                    ``(B) at the call of the Chair.
            ``(2) Quorum.--A majority of the members of the 
        Administration shall constitute a quorum.
    ``(g) Seal.--The Administration shall procure a proper seal, with 
such suitable inscriptions and devices as the President shall approve. 
This seal, to be known as the official seal of the Federal Election 
Administration, shall be kept and used to verify official documents, 
under such rules and regulations as the Administration may prescribe. 
Judicial notice shall be taken of the seal.
    ``(h) Principal Office.--The principal office of the Administration 
shall be in or near the District of Columbia, but the Administration 
may meet or exercise any of its powers anywhere in the United States.

``SEC. 352. COMPOSITION OF THE FEDERAL ELECTION ADMINISTRATION.

    ``(a) In General.--The Administration shall be composed of 5 
members, 1 of whom shall serve as the Chair of the Administration. Not 
more than 2 members of the Administration shall be affiliated with the 
same political party while serving as a member of the Administration. 
For purposes of the preceding sentence, a member shall be treated as 
affiliated with a political party if such member was affiliated with 
such political party at any time during the 5-year period ending on the 
date on which such individual is nominated to be a member of the 
Administration.
    ``(b) Appointment.--
            ``(1) In general.--Each member of the Administration shall 
        be appointed by the President, by and with the advice and 
        consent of the Senate.
            ``(2) Chair.--The President shall, at the time of 
        nomination of the first 5 members of the Administration, 
        designate 1 of the 5 to serve as the Chair. Any individual 
        appointed to succeed, or to fill the unexpired term of, that 
        member (or any member succeeding that member) shall serve as 
        the Chair.
            ``(3) Qualifications.--
                    ``(A) In general.--The President may select an 
                individual for service as a Member of the Commission if 
                the individual has experience in election law and has a 
                demonstrated record of integrity, impartiality, and 
                good judgment.
                    ``(B) Assistance of blue ribbon advisory panel.--
                            ``(i) In general.--Prior to the regularly 
                        scheduled expiration of the term of a member of 
                        the Commission and upon the occurrence of a 
                        vacancy in the membership of the Commission 
                        prior to the expiration of a term, the 
                        President shall convene a Blue Ribbon Advisory 
                        Panel, that includes individuals representing 
                        each major political party and individuals who 
                        are independent of a political party and that 
                        consists of an odd number of individuals 
                        selected by the President from retired Federal 
                        judges, former law enforcement officials, or 
                        individuals with experience in election law, 
                        except that the President may not select any 
                        individual to serve on the panel who holds any 
                        public office at the time of selection.
                            ``(ii) Recommendations.--With respect to 
                        each member of the Commission whose term is 
                        expiring or each vacancy in the membership of 
                        the Commission (as the case may be), the Blue 
                        Ribbon Advisory Panel shall recommend to the 
                        President at least one but not more than 3 
                        individuals for nomination for appointment as a 
                        member of the Commission.
                            ``(iii) Publication.--At the time the 
                        President submits to the Senate the nominations 
                        for individuals to be appointed as members of 
                        the Commission, the President shall publish the 
                        Blue Ribbon Advisory Panel's recommendations 
                        for such nominations.
                            ``(iv) Exemption from federal advisory 
                        committee act.--The Federal Advisory Committee 
                        Act (5 U.S.C. App.) shall not apply to a Blue 
                        Ribbon Advisory Panel convened under this 
                        subparagraph.
    ``(c) Term of Office.--
            ``(1) In general.--
                    ``(A) Chair.--The Chair of the Administration shall 
                be appointed for a term of 10 years.
                    ``(B) Other members.--Subject to subparagraph (C), 
                the 4 members of the Administration other than the 
                Chair shall be appointed for a term of 6 years.
                    ``(C) Initial appointments.--Of the members 
                initially appointed under subparagraph (B), 2 members 
                shall be appointed for a term of 3 years.
            ``(2) Limitation to one term.--A member of the 
        Administration may only serve 1 term, except that--
                    ``(A) an individual appointed under subparagraph 
                (B) of paragraph (1) who is appointed for the term 
                described in subparagraph (C) of such paragraph may be 
                appointed to a 6-year term in addition to the term 
                described in such subparagraph; and
                    ``(B) an individual appointed under paragraph (4) 
                to fill the remainder of an unexpired term that has 
                less than \1/2\ of the term remaining may be appointed 
                to serve another term.
            ``(3) Expired terms.--An individual may continue to serve 
        as a member of the Administration after the expiration of such 
        individual's term until the earlier of--
                    ``(A) the date on which such individual's successor 
                has taken office; or
                    ``(B) 1 year following the date on which the term 
                of such member expired.
            ``(4) Vacancies.--An individual appointed upon a vacancy 
        occurring before the expiration of the term for which the 
        individual's predecessor was appointed shall be appointed only 
        for the unexpired term of the predecessor. Such vacancy shall 
        be filled in the same manner as the original appointment.
            ``(5) Prohibiting engagement with other business or 
        employment during service.--A member of the Commission shall 
        not engage in any other business, vocation, or employment. Any 
        individual who is engaging in any other business, vocation, or 
        employment at the time of his or her appointment to the 
        Commission shall terminate or liquidate such activity not later 
        than 90 days after such appointment.
    ``(d) Removal.--A member of the Administration may be removed by 
the President only for inefficiency, neglect of duty, or malfeasance in 
office.

``SEC. 353. STAFF DIRECTOR.

    ``(a) In General.--There shall be in the Administration a staff 
director.
    ``(b) Responsibilities.--The staff director--
            ``(1) shall assist the Administration in its administration 
        and operations;
            ``(2) shall perform such responsibilities as the 
        Administration shall prescribe; and
            ``(3) may, with the approval of the Chair--
                    ``(A) appoint and fix the pay of such additional 
                personnel as the staff director considers appropriate 
                without regard to the provisions of title 5, United 
                States Code, governing appointments in the competitive 
                service; and
                    ``(B) procure temporary and intermittent services 
                to the same extent as is authorized by section 3109(b) 
                of title 5, United States Code, but at rates for 
                individuals not to exceed the daily equivalent of the 
                annual rate of basic pay in effect for grade GS-15 of 
                the General Schedule (5 U.S.C. 5332).
    ``(c) Appointment.--The staff director shall be appointed by the 
Chair, after consultation with the other members of the Administration.
    ``(d) Other Activities.--An individual may not engage in any other 
business, vocation, or employment while serving as the staff director.

``SEC. 354. GENERAL COUNSEL.

    ``(a) In General.--There shall be in the Administration a general 
counsel.
    ``(b) Responsibilities.--The general counsel shall--
            ``(1) serve as the chief legal officer of the 
        Administration;
            ``(2) provide legal assistance to the Administration 
        concerning its programs and policies;
            ``(3) advise and assist the Administration in carrying out 
        its responsibilities under section 361; and
            ``(4) represent the Administration in any proceeding in 
        court or before an administrative law judge.
    ``(c) Appointment.--The general counsel shall be appointed by the 
Chair, subject to approval by majority vote of the members of the 
Administration.

``SEC. 355. INSPECTOR GENERAL.

    ``There shall be in the Administration an inspector general. The 
inspector general and the office of inspector general shall be subject 
to the Inspector General Act of 1978 (5 U.S.C. App.).

     ``CHAPTER 2--OPERATION OF THE FEDERAL ELECTION ADMINISTRATION

``SEC. 361. POWERS OF THE CHAIR AND ADMINISTRATION.

    ``(a) Chair.--
            ``(1) In general.--The Chair shall be the chief 
        administrative officer of the Administration with the authority 
        to administer the Administration and shall, after consultation 
        with the other members of the Administration, have the power to 
        appoint or remove the staff director and to establish the 
        budget of the Administration.
            ``(2) Other powers.--The Chair has the power--
                    ``(A) to the fullest extent practicable, to request 
                the assistance of other agencies and departments of the 
                United States, including the personnel and facilities 
                of such agencies and departments and the heads of such 
                agencies and departments may make available to the 
                Chair such personnel, facilities, and other assistance, 
                with or without reimbursement;
                    ``(B) to appoint, assign, remove, and compensate 
                administrative law judges in accordance with title 5, 
                United States Code;
                    ``(C) to require, by special or general orders, any 
                person to submit, under oath, such written reports and 
                answers to questions as the Chair may prescribe;
                    ``(D) to administer oaths or affirmations;
                    ``(E) to issue and enforce subpoenas in accordance 
                with section 364;
                    ``(F) in any proceeding or investigation, to order 
                testimony to be taken by deposition before any person 
                who is designated by the Chair and has the power to 
                administer oaths and, in such instances, to compel 
                testimony and the production of evidence in the same 
                manner as authorized under subparagraph (E);
                    ``(G) to pay witnesses fees and mileage in 
                accordance with section 364(d); and
                    ``(H) to make independent budget requests to 
                Congress in accordance with section 362.
    ``(b) Administration.--The Administration shall have the power--
            ``(1) to initiate, defend, or appeal, through the general 
        counsel, any civil action in the name of the Administration to 
        enforce the provisions of this Act and chapters 95 and 96 of 
        the Internal Revenue Code of 1986;
            ``(2) to assess civil penalties for violations of this Act 
        and chapters 95 and 96 of the Internal Revenue Code of 1986;
            ``(3) to issue cease-and-desist orders to prevent 
        violations of this Act and chapters 95 and 96 of the Internal 
        Revenue Code of 1986;
            ``(4) to establish procedures and schedules for agency 
        adjudication that ensure timely enforcement of this Act and 
        chapters 95 and 96 of the Internal Revenue Code of 1986;
            ``(5) to render advisory opinions under section 363;
            ``(6) to develop prescribed forms, and to make, amend, and 
        repeal rules, pursuant to section 365;
            ``(7) to establish procedures for alternative dispute 
        resolution of violations of this Act or of chapters 95 or 96 of 
        the Internal Revenue Code of 1986;
            ``(8) to conduct investigations and hearings expeditiously, 
        to encourage voluntary compliance, and to report apparent 
        violations to the appropriate law enforcement authorities; and
            ``(9) to transmit to the President and to Congress not 
        later than June 1 of each year, a report which states in detail 
        the activities of the Administration in carrying out its duties 
        under this Act, and which includes any recommendations for any 
        legislative or other action the Administration considers 
        appropriate.

``SEC. 362. INDEPENDENT BUDGET REQUESTS AND LEGISLATIVE PROPOSALS.

    ``(a) Exemption From OMB Oversight.--Whenever the Chair submits any 
budget estimate or request to the President or the Office of Management 
and Budget, the Chair shall concurrently transmit a copy of such 
estimate or request to Congress.
    ``(b) Authority To Make Independent Legislative Recommendations.--
Whenever the Administration submits any legislative recommendation, 
testimony, or comments on legislation requested by Congress or by any 
Member of Congress, to the President or the Office of Management and 
Budget, the Administration shall concurrently transmit a copy thereof 
to Congress or to the Member requesting the same. No officer or agency 
of the United States shall have any authority to require the 
Administration to submit its legislative recommendations, testimony, or 
comments on legislation, to any office or agency of the United States 
for approval, comments, or review, prior to the submission of such 
recommendations, testimony, or comments to Congress.

``SEC. 363. ADVISORY OPINIONS.

    ``(a) Requests for Advisory Opinions.--
            ``(1) In general.--Not later than 60 days after the 
        Administration receives from a person a complete written 
        request concerning the application of this Act, chapter 95 or 
        96 of the Internal Revenue Code of 1986, or a rule or 
        regulation prescribed by the Administration, with respect to a 
        specific transaction or activity by the person, the 
        Administration shall render a written advisory opinion relating 
        to such transaction or activity to the person.
            ``(2) Requests by candidates.--If an advisory opinion is 
        requested by a candidate, or any authorized committee of such 
        candidate, during the 60-day period before any election for 
        Federal office involving the requesting party, the 
        Administration shall render a written advisory opinion relating 
        to such request not later than 20 days after the Administration 
        receives a complete written request.
    ``(b) Rulemaking Required.--Any rule of law which is not stated in 
this Act or in chapter 95 or 96 of the Internal Revenue Code of 1986 
may be initially proposed by the Administration only as a rule or 
regulation pursuant to procedures established in section 365. No 
opinion of an advisory nature may be issued by the Administration or 
any other officer or employee of the Administration except in 
accordance with the provisions of this section.
    ``(c) Reliance on Advisory Opinions.--
            ``(1) In general.--Any advisory opinion rendered by the 
        Administration under subsection (a) may be relied upon by--
                    ``(A) any person involved in the specific 
                transaction or activity with respect to which such 
                advisory opinion is rendered; and
                    ``(B) any person involved in any specific 
                transaction or activity which is indistinguishable in 
                all its material aspects from the transaction or 
                activity with respect to which such advisory opinion is 
                rendered.
            ``(2) Protection from liability.--Notwithstanding any other 
        provisions of law, any person who relies upon any provision or 
        finding of an advisory opinion in accordance with the 
        provisions of paragraph (1) and who acts in good faith in 
        accordance with the provisions and findings of such advisory 
        opinion shall not, as a result of any such act, be subject to 
        any sanction provided by this Act or by chapter 95 or 96 of the 
        Internal Revenue Code of 1986.
    ``(d) Notice and Comment.--
            ``(1) Publication of requests.--The Administration shall 
        make public any request made under subsection (a) for an 
        advisory opinion.
            ``(2) Opportunity to comment.--
                    ``(A) Written comments.--Before rendering an 
                advisory opinion, the Administration shall accept 
                written comments submitted by any interested party 
                within the 10-day period following the date on which 
                the request is made public.
                    ``(B) Testimony.--To the extent that the Commission 
                provides an opportunity for a person requesting an 
                advisory opinion under this section (or counsel for 
                such person) to appear before the Commission to present 
                testimony in support of the request, and the person (or 
                counsel) accepts such opportunity, the Commission shall 
                provide a reasonable opportunity for an interested 
                party who submitted written comments under subparagraph 
                (A) in response to the request (or counsel for such 
                interested party) to appear before the Commission to 
                present testimony in response to the request.
    ``(e) Judicial Review.--
            ``(1) In general.--Any person adversely affected by an 
        advisory opinion rendered by the Administration may obtain 
        judicial review of such advisory opinion by filing a petition 
        in the United States Court of Appeals for the District of 
        Columbia Circuit.
            ``(2) Scope of review.--For purposes of conducting the 
        judicial review described in paragraph (1), the provisions of 
        section 706 of title 5, United States Code, shall apply.

``SEC. 364. ISSUANCE AND ENFORCEMENT OF SUBPOENAS.

    ``(a) Issuance by the Chair.--If the Administration is conducting 
an investigation pursuant to section 371 or 372, the Chair shall, on 
behalf of the Administration, have the power to require by subpoena the 
attendance and testimony of witnesses and the production of all 
documentary evidence relating to the execution of the Administration's 
duties.
    ``(b) Issuance by an Administrative Law Judge.--Any administrative 
law judge presiding over an enforcement action pursuant to section 373 
shall have the power to require by subpoena the attendance and 
testimony of witnesses and the production of all documentary evidence 
relating to the administrative law judge's duties.
    ``(c) Issuance and Enforcement of Subpoenas.--
            ``(1) Issuance.--Subpoenas issued under subsection (a) or 
        (b) shall bear the signature of the Chair or an administrative 
        law judge, respectively, and shall be served by any person or 
        class of persons designated by the Chair or administrative law 
        judge for that purpose.
            ``(2) Enforcement.--In the case of contumacy or failure to 
        obey a subpoena issued under subsection (a) or (b), the Federal 
        district court for the judicial district in which the 
        subpoenaed person resides, is served, or may be found may issue 
        an order requiring such person to appear at any designated 
        place to testify or to produce documentary or other evidence. 
        Any failure to obey the order of the court may be punished by 
        the court as a contempt of that court.
    ``(d) Witness Allowances and Fees.--Section 1821 of title 28, 
United States Code, shall apply to witnesses requested or subpoenaed to 
appear at any hearing of the Administration. The per diem and mileage 
allowances for witnesses shall be paid from funds available to pay the 
expenses of the Administration.
    ``(e) Jurisdiction.--Subpoenas for witnesses who are required to 
attend a Federal district court may run into any other district.

``SEC. 365. RULEMAKING AUTHORITY.

    ``(a) In General.--The Administration may, pursuant to the 
provisions of chapter 5 of title 5, United States Code, prescribe such 
rules and regulations as the Administration deems necessary to carry 
out the provisions of this Act and chapters 95 and 96 of the Internal 
Revenue Code of 1986, including the authority to promulgate rules of 
practice and procedure for agency adjudications.
    ``(b) Authority To Promulgate Independent Regulations.--Whenever 
the Administration promulgates any regulation, it shall not be required 
to submit such regulation for review or approval to the President or 
the Office of Management and Budget.
    ``(c) Conduct of Activities.--The Administration shall prepare 
written rules for the conduct of its activities, including procedures 
for the conduct of enforcement actions under sections 371, 372, and 
373.
    ``(d) Forms.--
            ``(1) In general.--The Administration shall prescribe forms 
        necessary to implement this Act and chapters 95 and 96 of the 
        Internal Revenue Code of 1986.
            ``(2) Public protection.--Any forms prescribed by the 
        Administration under paragraph (1), and any information-
        gathering activities of the Administration under this Act, 
        shall not be subject to the provisions of section 3512 of title 
        44, United States Code.
    ``(e) Reliance Upon Rules and Regulations.--Notwithstanding any 
other provision of law, any person who relies upon any rule or 
regulation prescribed by the Administration in accordance with the 
provisions of this section and who acts in good faith in accordance 
with such rule or regulation shall not, as a result of such act, be 
subject to any sanction provided by this Act or by chapter 95 or 96 of 
the Internal Revenue Code of 1986.
    ``(f) Consultation With IRS.--In prescribing rules, regulations, 
and forms under this section, the Administration and the Secretary of 
the Treasury shall consult and work together to promulgate rules, 
regulations, and forms which are mutually consistent. The 
Administration shall report to Congress annually on the steps it has 
taken to comply with this subsection.
    ``(g) Judicial Review.--
            ``(1) In general.--Any person adversely affected by a rule, 
        regulation, or form promulgated by the Administration may 
        obtain judicial review of such rule, regulation, or form by 
        filing a petition in the United States Court of Appeals for the 
        District of Columbia Circuit.
            ``(2) Scope of review.--For purposes of conducting the 
        judicial review described in paragraph (1), the provisions of 
        section 706 of title 5, United States Code, shall apply.
    ``(h) Rule and Regulation Defined.--In this Act, the terms `rule' 
and `regulation' mean a provision or series of interrelated provisions 
stating a single, separable rule of law.

``SEC. 366. LITIGATION AUTHORITY.

    ``(a) In General.--Notwithstanding sections 516 and 518 of title 
28, United States Code, and section 3106 of title 5, United States 
Code, the Administration is authorized to bring, appear in, defend 
against, and appeal any action instituted under this Act or chapter 95 
or 96 of the Internal Revenue Code of 1986, in any court either--
            ``(1) by attorneys employed by the Administration; or
            ``(2) by counsel whom it may appoint, on a temporary basis 
        as may be necessary for such purpose, without regard to the 
        provisions of title 5, United States Code, governing 
        appointments in the competitive service, and whose compensation 
        it may fix without regard to the provisions of chapter 51 and 
        subchapter III of chapter 53 of such title.
    ``(b) Compensation of Appointed Counsel.--The compensation of 
counsel appointed on a temporary basis under subsection (a)(2) shall be 
paid out of any funds otherwise available to pay the compensation of 
employees of the Administration.
    ``(c) Independence From Attorney General.--In pursuing an action 
under this section, the Administration may act independently of the 
Attorney General.

``SEC. 367. AVAILABILITY OF REPORTS.

    ``(a) In General.--The Administration shall--
            ``(1) prepare, publish, and furnish to all persons required 
        to file reports and statements under this Act a manual 
        recommending uniform methods of bookkeeping and reporting;
            ``(2) develop a filing, coding, and cross-indexing system 
        consistent with the purposes of this Act;
            ``(3) within 48 hours after the time of the receipt by the 
        Administration of reports and statements filed with the 
        Administration, make them available for public inspection, and 
        copying, at the expense of the person requesting such copying, 
        except that any information copied from such reports or 
        statements may not be sold or used by any person for the 
        purpose of soliciting contributions or for commercial purposes, 
        other than using the name and address of any political 
        committee to solicit contributions from such committee;
            ``(4) keep such designations, reports, and statements for a 
        period of 10 years from the date of receipt and maintain 
        computerized records of such designations, reports, and 
        statements thereafter;
            ``(5)(A) compile and maintain a cumulative index of 
        designations, reports, and statements filed under this Act, 
        publish the index at regular intervals, and make the index 
        available for purchase directly or by mail;
            ``(B) compile, maintain, and revise a separate cumulative 
        index of reports and statements filed by multicandidate 
        committees, including in such index a list of multicandidate 
        committees; and
            ``(C) compile and maintain a list of multicandidate 
        committees, which shall be revised and made available monthly;
            ``(6) prepare and publish periodically lists of authorized 
        committees which fail to file reports as required by this Act; 
        and
            ``(7) serve as a national clearinghouse for the compilation 
        of information and review of procedures with respect to the 
        administration of Federal elections.
    ``(b) Pseudonyms.--For purposes of subsection (a)(3), a political 
committee may submit 10 pseudonyms on each report filed in order to 
protect against the illegal use of names and addresses of contributors, 
but only if such committee attaches a list of such pseudonyms to the 
appropriate report. The Administration shall exclude these lists from 
the public record.
    ``(c) Contracts.--The Administration may enter into contracts for 
the purpose of performing the duties described in subsection (a).
    ``(d) Availability of Reports.--Reports or other information 
described in subsection (a) shall be available to the public, except 
that--
            ``(1) copies shall be made available without cost, upon 
        request, to agencies and branches of the Federal Government; 
        and
            ``(2) information made available as a result of the 
        application of paragraph (7) of such subsection shall be made 
        available to the public only upon the payment of the cost 
        thereof.

``SEC. 368. AUDITS AND FIELD EXAMINATIONS.

    ``(a) In General.--The Administration may, in accordance with the 
provisions of this section, conduct audits and field investigations of 
any political committee required to file a report under section 304.
    ``(b) Priority.--All audits and field investigations concerning the 
verification for, and receipt and use of, any payments received by a 
candidate or committee under chapter 95 or 96 of the Internal Revenue 
Code of 1986 shall be given priority.
    ``(c) Audits and Field Examinations Where Thresholds Not Met.--
            ``(1) Internal review.--The Administration shall conduct an 
        internal review of reports filed by selected committees to 
        determine if the reports filed by a particular committee meet 
        the threshold requirements for substantial compliance with the 
        Act. Such thresholds for compliance shall be established by the 
        Administration.
            ``(2) Audits and field examinations.--The Administration 
        may vote to conduct an audit and field investigation of any 
        committee which it determines under paragraph (1) does not meet 
        the threshold requirements established by the Administration. 
        Such audits shall be commenced within 30 days of such vote, 
        except that any audit under the provisions of this subsection 
        of an authorized committee of a candidate shall be commenced 
        within 6 months of the election for which such committee is 
        authorized.
    ``(d) Random Audits.--
            ``(1) In general.--In addition to any audits conducted 
        under subsection (c), the Administration may, subject to 
        paragraph (2), conduct audits of any committee selected at 
        random to ensure compliance with this Act. The selection of any 
        committee under this paragraph shall be based on standards and 
        procedures adopted by the Administration, except that in any 
        calendar year such audits may be initiated against no more than 
        3 percent of all authorized candidate campaign committees.
            ``(2) Applicable rules.--
                    ``(A) In general.--If the Administration selects a 
                committee for audit under paragraph (1), the 
                Administration shall promptly notify the committee of 
                the selection and commence the audit within 30 days of 
                the selection.
                    ``(B) Special rules for authorized committees.--If 
                the committee selected under paragraph (1) is an 
                authorized committee of a candidate, the audit--
                            ``(i) shall be commenced and actively 
                        undertaken within 6 months of the election for 
                        which the committee is authorized; and
                            ``(ii) may examine compliance with this Act 
                        only with respect to that election.
            ``(3) Exception.--This subsection shall not apply to an 
        authorized committee of a candidate for President or Vice 
        President subject to audit under section 9007 or 9038 of the 
        Internal Revenue Code of 1986.

``SEC. 369. CONGRESSIONAL OVERSIGHT.

    ``Nothing in this Act shall be construed to limit, restrict, or 
diminish any investigatory, informational, oversight, supervisory, or 
disciplinary authority or function of Congress or any committee of 
Congress with respect to elections for Federal office.

                        ``CHAPTER 3--ENFORCEMENT

``SEC. 371. INITIATION OF ENFORCEMENT ACTIONS BY ADMINISTRATION.

    ``(a) In General.--The Administration may initiate a civil 
enforcement action under section 373 if, after conducting an 
investigation, the Administration finds reasonable grounds to believe 
that a violation of this Act or of chapter 95 or 96 of the Internal 
Revenue Code of 1986 has occurred or is about to occur.
    ``(b) Basis for Findings.--The Administration may make a finding 
under subsection (a) based on any information available to the 
Administration, including the filing of a complaint under section 372.
    ``(c) Notice and Opportunity To Demonstrate No Violation.--Prior to 
initiating an enforcement action under subsection (a), the 
Administration shall give any person under investigation notice and the 
opportunity to demonstrate that there are no reasonable grounds to 
believe a violation has occurred or is about to occur, but the 
Administration's decision on such matter shall not be subject to 
judicial review.

``SEC. 372. COMPLAINT TO INITIATE ENFORCEMENT ACTION.

    ``(a) Filing of Complaint.--
            ``(1) In general.--Any person may file a complaint with the 
        Administration alleging a violation of this Act or of chapter 
        95 or 96 of the Internal Revenue Code of 1986.
            ``(2) Technical requirements.--A complaint filed under 
        paragraph (1) shall be--
                    ``(A) in writing, signed, and sworn to by the 
                person filing such complaint;
                    ``(B) notarized; and
                    ``(C) made under penalty of perjury and subject to 
                the provisions of section 1001 of title 18, United 
                States Code.
            ``(3) Action by the administration.--Subject to paragraph 
        (4), based on the allegations in a complaint filed under 
        paragraph (1), and such investigations the Administration deems 
        necessary and appropriate, the Administration may--
                    ``(A) initiate a civil enforcement action under 
                section 373 if the Administration finds reasonable 
                grounds to believe a violation has occurred or is about 
                to occur; or
                    ``(B) dismiss the complaint.
            ``(4) Prohibition of anonymous complaints.--The Commission 
        may not conduct any investigation or take any other action 
        under this section solely on the basis of a complaint of a 
        person whose identity is not disclosed to the Administration.
            ``(5) Recovery of costs.--Any person who has filed a 
        complaint under paragraph (1) shall be entitled to recover from 
        the Administration up to $1,000 of the costs incurred in 
        preparing and filing the complaint if, based on the complaint, 
        the Administration--
                    ``(A) makes a finding under section 373(a) that a 
                person has violated (or is about to violate) the Act; 
                or
                    ``(B) enters into a conciliation agreement with a 
                person under section 373(c).
    ``(b) Notice and Opportunity To Demonstrate No Violation.--Prior to 
initiating an enforcement action under subsection (a)(3)(A), the 
Administration shall give any person named in a complaint notice and an 
opportunity to demonstrate that there are no reasonable grounds to 
believe a violation described in such subsection has occurred or is 
about to occur, but the Administration's determination under subsection 
(a)(3) shall not be subject to judicial review in an action brought by 
such person.
    ``(c) Failure by the Administration To Take Timely Action.--
            ``(1) In general.--If the Administration--
                    ``(A) dismisses a complaint filed under subsection 
                (a); or
                    ``(B) fails to initiate a civil enforcement action 
                under section 373 within 180 days of the filing of such 
                a complaint, the person filing the complaint under 
                subsection (a) may seek judicial review of the 
                Administration's dismissal, or failure to act, in 
                Federal district court in the District of Columbia or 
                in the district in which such person resides.
            ``(2) Scope of review.--The court shall review the 
        Administration's dismissal of the complaint or failure to act 
        in accordance with the provisions of section 706 of title 5, 
        United States Code.
            ``(3) Court orders.--The court may order the Administration 
        to initiate an enforcement action or to conduct a further 
        investigation of the complaint within a time set by the court.

``SEC. 373. CIVIL ENFORCEMENT ACTIONS.

    ``(a) In General.--The Administration shall have the authority to 
impose a civil monetary penalty under section 375, issue a cease-and-
desist order under section 376, or do both, if the Administration 
finds, by an order made on the record after notice and an opportunity 
for hearing before an administrative law judge pursuant to subchapter 
II of chapter 5 of title 5, United States Code, that a person has 
violated (or, in the case of a cease-and-desist order, has violated or 
is about to violate) this Act or chapter 95 or 96 of the Internal 
Revenue Code of 1986. The general counsel shall represent the 
Administration in any proceeding before an administrative law judge.
    ``(b) Notice and Request for Hearing.--
            ``(1) Notice.--If the Administration finds under section 
        371 or 372 that there are reasonable grounds to believe a 
        violation has occurred or is about to occur, the Administration 
        shall serve written notice of the charges on each respondent, 
        and shall conduct such further investigation as the 
        Administration deems necessary and appropriate.
            ``(2) Request for hearing.--Each respondent shall have an 
        opportunity to request, prior to the date that is 30 days after 
        the date on which the notice is received, a hearing on the 
        charges before an administrative law judge.
            ``(3) Effect of failure to request a hearing.--If no 
        hearing is requested, the Administration shall make a finding 
        on the charges, and shall issue whatever relief the 
        Administration deems appropriate under sections 375 and 376.
    ``(c) Conciliation.--
            ``(1) Procedures for entering into conciliation 
        agreements.--
                    ``(A) In general.--If the respondent requests a 
                hearing under subsection (b)(2), the Administration 
                shall attempt, for a period that does not exceed 60 
                days (or 15 days if the hearing is requested within 60 
                days of an election), to correct or prevent such 
                violation by informal methods of conference, 
                conciliation, and persuasion, and to enter into a 
                conciliation agreement with the respondent. In the case 
                of a hearing that is requested at a time other than 
                within 60 days of an election, the period for 
                conciliation shall not be less than 30 days unless an 
                agreement is reached before then.
                    ``(B) Inclusion of civil monetary penalties.--A 
                conciliation agreement may include a requirement that 
                the person involved in such conciliation shall pay a 
                civil monetary penalty that does not exceed the amounts 
                set forth in subsection (a) of section 375 or, in the 
                case of a knowing and willful violation, the amounts 
                set forth in subsection (b) of such section. The 
                conciliation agreement may also include the requirement 
                that the person involved consent to the terms of a 
                cease-and-desist order, as provided in section 376.
                    ``(C) Representation by general counsel.--The 
                general counsel shall represent the Administration in 
                any negotiations for a conciliation agreement and any 
                such conciliation agreement shall be subject to the 
                approval of the Administration.
                    ``(D) Bar to further action.--A conciliation 
                agreement, unless violated, is a complete bar to any 
                further action by the Administration.
            ``(2) Confidentiality.--No action by the Administration or 
        any other person, and no information derived in connection with 
        any conciliation attempt by the Administration may be made 
        public by the Administration, without the written consent of 
        the respondent, except that if a conciliation agreement is 
        agreed upon and signed by the Administration and the 
        respondent, the Administration shall make such agreement 
        public.
            ``(3) Violation of conciliation agreement.--In any case in 
        which a person has entered into a conciliation agreement with 
        the Administration under paragraph (1), the Administration may 
        institute a civil action for relief if the Administration 
        believes the person has violated any provision of such 
        conciliation agreement. Such civil action shall be brought in 
        the Federal district court for the district in which the 
        respondent resides or has its principal place of business, or 
        for the District of Columbia. Such court shall have 
        jurisdiction to issue any relief appropriate under sections 375 
        and 376. For the Administration to obtain relief in any such 
        action, the Administration need only establish that the person 
        has violated, in whole or in part, any requirement of such 
        conciliation agreement.
    ``(d) Hearing.--At the request of any respondent, a hearing on the 
charges served under subsection (b)(1) shall be conducted before an 
administrative law judge, who shall make such findings of fact and 
conclusions of law as the administrative law judge deems appropriate. 
The administrative law judge shall also have the authority to impose a 
civil monetary penalty on the respondent, issue a cease-and-desist 
order, or both. The decision of the administrative law judge shall 
constitute final agency action unless an appeal is taken under 
subsection (e).
    ``(e) Appeal to Administration.--
            ``(1) Right to appeal.--The general counsel and each 
        respondent shall each have a right to appeal to the 
        Administration from any final determination made by an 
        administrative law judge.
            ``(2) Review of alj determinations.--In the event of an 
        appeal under paragraph (1), the Administration shall review the 
        determination of the administrative law judge to determine 
        whether--
                    ``(A) a finding of material fact is not supported 
                by substantial evidence;
                    ``(B) a conclusion of law is erroneous;
                    ``(C) the determination of the administrative law 
                judge is contrary to law or to the duly promulgated 
                rules or decisions of the Administration;
                    ``(D) a prejudicial error of procedure was 
                committed; or
                    ``(E) the decision or the relief ordered is 
                otherwise arbitrary, capricious, or an abuse of 
                discretion.
            ``(3) Final agency action.--The decision of the 
        Administration shall constitute final agency action.
    ``(f) Judicial Review.--
            ``(1) In general.--Any party aggrieved by a final agency 
        action and who has exhausted all administrative remedies, 
        including requesting a hearing before an administrative law 
        judge and appealing an adverse decision of an administrative 
        law judge to the Administration, may obtain judicial review of 
        such action in the United States Court of Appeals for any 
        circuit wherein such person resides or has its principal place 
        of business, or in the United States Court of Appeals for the 
        District of Columbia Circuit.
            ``(2) Scope of review.--For purposes of conducting the 
        judicial review described in paragraph (1), the provisions of 
        section 706 of title 5, United States Code, shall apply.
            ``(3) Petition for judicial review.--To obtain judicial 
        review under paragraph (1), an aggrieved party described in 
        such paragraph shall file a petition with the court during the 
        30-day period beginning on the date on which the order was 
        issued. A copy of such petition shall be transmitted forthwith 
        by the clerk of the court to the Administration, and thereupon 
        the Administration shall file in the court the record upon 
        which the order complained of was entered, as provided in 
        section 2112 of title 28, United States Code.

``SEC. 374. NOTIFICATION OF NONFILERS.

    ``(a) Notification.--Before taking any action under section 373 
against any person who has failed to file a report required under 
section 304(a)(2)(A)(iii) for the calendar quarter immediately 
preceding the election involved, or in accordance with section 
304(a)(2)(A)(i), the Administration shall notify the person of such 
failure to file the required reports.
    ``(b) Opportunity for Response.--If a satisfactory response is not 
received within 4 business days after the date of notification, the 
Administration shall, pursuant to section 367(a)(6), publish before the 
election the name of the person and the report or reports such person 
has failed to file.

``SEC. 375. CIVIL MONETARY PENALTIES.

    ``(a) In General.--Any person who violates this Act, or chapter 95 
or 96 of the Internal Revenue Code of 1986, shall be liable to the 
United States for a civil monetary penalty for each violation which 
does not exceed the greater of $5,000 or an amount equal to any 
contribution or expenditure involved in such violation. Such penalty 
shall be imposed by the Administration pursuant to section 373.
    ``(b) Knowing and Willful Violations.--Any person who commits a 
knowing and willful violation of this Act, or of chapter 95 or 96 of 
the Internal Revenue Code of 1986, shall be liable to the United States 
for a civil monetary penalty for each violation which does not exceed 
the greater of $10,000 or an amount equal to 200 percent of any 
contribution or expenditure involved in such violation (or, in the case 
of a violation of section 320, which is not less than 300 percent of 
the amount involved in the violation and is not more than the greater 
of $50,000 or 1,000 percent of the amount involved in the violation). 
Such penalty shall be imposed by the Administration pursuant to section 
373.
    ``(c) Determination of Civil Monetary Penalty.--In determining the 
amount of a civil monetary penalty under this section with respect to a 
violation described in this section, the Administration or an 
administrative law judge shall take into account the nature, 
circumstances, extent, and gravity of the violation and, with respect 
to the violator, any prior violation, the degree of culpability, and 
such other matters as justice may require.
    ``(d) Referral to Attorney General.--
            ``(1) In general.--If the Administration determines that a 
        knowing and willful violation of this Act which is subject to 
        section 379, or a knowing and willful violation of chapter 95 
        or 96 of the Internal Revenue Code of 1986, has occurred or is 
        about to occur, the Administration may refer such apparent 
        violation to the Attorney General without regard to any 
        limitations set forth under section 373.
            ``(2) Reporting by the attorney general.--Whenever the 
        Administration refers an apparent violation to the Attorney 
        General, the Attorney General shall report to the 
        Administration any action taken by the Attorney General 
        regarding the apparent violation. Each report shall be 
        transmitted within 60 days after the date the Administration 
        refers an apparent violation, and every 30 days thereafter 
        until the final disposition of the apparent violation.

``SEC. 376. CEASE-AND-DESIST ORDERS.

    ``(a) In General.--If the Administration finds, after notice and 
opportunity for hearing under section 373, that any person is 
violating, has violated, or is about to violate any provision of this 
Act, or chapter 95 or 96 of the Internal Revenue Code of 1986, or any 
rule or regulation thereunder, the Administration may publish any 
findings and enter an order requiring such person, or any other person 
that is, was, or would be a cause of the violation due to an act or 
omission the person knew or should have known would contribute to such 
violation, to cease and desist from committing or causing such 
violation and any future violation of the same provision, rule, or 
regulation. Such order may, in addition to requiring a person to cease 
and desist from committing or causing a violation, require such person 
to comply (or to take steps to effect compliance) with such provision, 
rule, or regulation, upon such terms and conditions and within such 
time as the Administration may specify in such order.
    ``(b) Temporary Order.--Whenever the Administration determines that 
an alleged violation or threatened violation specified in the notice 
initiating a civil enforcement action under section 373, or the 
continuation thereof, is likely to result in violation of this Act, or 
of chapter 95 or 96 of the Internal Revenue Code of 1986, and 
substantial harm to the public interest, the Administration may apply 
to the Federal district court for the district in which the respondent 
resides or has its principal place of business, in which the alleged or 
threatened violation occurred or is about to occur, or for the District 
of Columbia, for a temporary restraining order or a preliminary 
injunction requiring the respondent to cease and desist from the 
violation or threatened violation and to take such action to prevent 
the violation or threatened violation. The Administration may apply for 
such order without regard to any limitation under section 373.

``SEC. 377. COLLECTION.

    ``If any person fails to pay an assessment of a civil penalty--
            ``(1) after the order making the assessment has become a 
        final order and such person has not timely filed a petition for 
        judicial review of the order in accordance with section 
        373(f)(3) or if the order of the Administration is upheld after 
        judicial review; or
            ``(2) after a court in an action brought under section 
        373(c)(3) has entered a final judgment no longer subject to 
        appeal in favor of the Administration,
the Attorney General shall recover the amount assessed (plus interest 
at currently prevailing rates from the date of the expiration of the 
30-day period referred to in section 373(f)(3) or the date of such 
final judgment, as the case may be) in an action brought in any 
appropriate district court of the United States. In such an action, the 
validity, amount, and appropriateness of such penalty shall not be 
subject to review.

``SEC. 378. CONFIDENTIALITY.

    ``(a) Prior to a Finding of Reasonable Grounds.--Any proceedings 
conducted by the Administration prior to a finding that there are 
reasonable grounds to believe a violation of the law has occurred or is 
about to occur, including any investigation pursuant to section 371 or 
pursuant to a complaint filed under section 372, shall be confidential 
and none of the Administration's records concerning the complaint shall 
be made public, except that the person filing a complaint pursuant to 
section 372 is permitted to make such complaint public.
    ``(b) After a Finding of Reasonable Grounds.--Except as provided in 
subsection (d), if the Administration makes a finding pursuant to 
section 371 or 372 that there are reasonable grounds to believe that a 
violation of law has occurred or is about to occur--
            ``(1) the finding of the Administration as well as any 
        complaint filed under section 372, any notice of charges, and 
        any answer or similar documents filed with the Administration 
        shall be made public; and
            ``(2) all proceedings conducted before an administrative 
        law judge under section 373, and all documents used during such 
        proceedings, shall be made public.
    ``(c) After Dismissal of a Complaint or Conclusion of Proceedings 
Following a Finding of Reasonable Grounds.--Subject to subsection (d), 
following the Administration's dismissal of a complaint filed under 
section 372 or the termination of proceedings following a finding of 
reasonable grounds under section 371 or 372, the Administration shall, 
not later than the date that is 30 days after such dismissal or 
termination, make public--
            ``(1) the complaint, any notice of charges, and any answer 
        or similar documents filed with the Administration (unless such 
        information has already been made public under subsection 
        (b)(1));
            ``(2) any order setting forth the Administration's final 
        action on the complaint;
            ``(3) any findings made by the Administration in relation 
        to the action; and
            ``(4) all documentary materials and testimony constituting 
        the record on which the Administration relied in taking its 
        actions.
Subject to subsection (d), the affirmative disclosure requirement of 
this subsection is without prejudice to the right of any person to 
request and obtain records relating to an investigation under section 
552 of title 5, United States Code.
    ``(d) Confidentiality of Records and Proceedings Otherwise Subject 
to Disclosure.--
            ``(1) In general.--The Administration shall issue 
        regulations providing for the protection of information the 
        disclosure of which under subsection (b) or (c) would impair 
        any person's constitutionally protected right of privacy, 
        freedom of speech, or freedom of association. The 
        Administration shall also issue regulations addressing the 
        application of exemptions from disclosure contained in section 
        552 of title 5, United States Code, to records comprising the 
        Administration's investigative files. Such regulations shall 
        consider the need to protect any person's constitutionally 
        protected rights to privacy, freedom of speech, and freedom of 
        association, as well as the need to make information about the 
        Administration's activities and decisions widely accessible to 
        the public.
            ``(2) Petition to maintain confidentiality.--
                    ``(A) In general.--Any person who would be 
                adversely affected by any disclosure of information 
                about the person made pursuant to subsection (b) or 
                (c), or by the conduct in public of a hearing or other 
                proceeding conducted pursuant to section 373, shall 
                have the right to petition the Administration to 
                maintain the confidentiality of such information or 
                such proceeding on the ground that such information 
                falls within the scope of any exemption from disclosure 
                contained in section 552 of title 5, United States 
                Code, or is prohibited from disclosure under the 
                Administration's regulations, the Constitution, or any 
                other provision of law. Upon the receipt of such 
                petition, the Administration shall make a prompt 
                determination whether the information should be kept 
                confidential, and shall withhold such information from 
                disclosure pending this determination. The 
                Administration shall notify the petitioner in writing 
                of the determination.
                    ``(B) Regulations.--The Administration shall 
                prescribe regulations governing the consideration of 
                petitions under this paragraph. Such regulations shall 
                provide for public notice of the pendancy of any 
                petition filed under subparagraph (A) and the right of 
                any interested party to respond to or comment on such 
                petition.
    ``(e) Penalties.--Any member or employee of the Administration, or 
any other person, who violates the provisions of this section shall be 
fined not more than $2,000. Any such member, employee, or other person 
who knowingly and willfully violates the provisions of this section 
shall be fined not more than $5,000.

``SEC. 379. CRIMINAL PENALTIES.

    ``(a) Knowing and Willful Violations.--Any person who knowingly and 
willfully commits a violation of any provision of this Act that 
involves the making, receiving, or reporting of any contribution, 
donation, or expenditure--
            ``(1) aggregating $25,000 or more during a calendar year 
        shall be fined under title 18, United States Code, or 
        imprisoned for not more than 5 years, or both; or
            ``(2) aggregating $2,000 or more (but less than $25,000) 
        during a calendar year shall be fined under such title, or 
        imprisoned for not more than 1 year, or both.
    ``(b) Contributions or Expenditures by National Banks, 
Corporations, or Labor Organizations.--In the case of a knowing and 
willful violation of section 316(b)(3), the penalties set forth in 
subsection (a) shall apply to each violation involving an amount 
aggregating $250 or more during a calendar year. Such a violation of 
section 316(b)(3) may incorporate a violation of section 317(a), 320, 
or 321.
    ``(c) Fraudulent Misrepresentation of Campaign Authority.--In the 
case of a knowing and willful violation of section 322, the penalties 
set forth in subsection (a) shall apply without regard to whether the 
making, receiving, or reporting of a contribution or expenditure of 
$1,000 or more is involved.
    ``(d) Prohibition of Contributions in Name of Another.--Any person 
who knowingly and willfully commits a violation of section 320 
involving an amount aggregating more than $10,000 during a calendar 
year shall be--
            ``(1) imprisoned for not more than 2 years if the amount is 
        less than $25,000 and subject to imprisonment under subsection 
        (a) if the amount is $25,000 or more;
            ``(2) fined not less than 300 percent of the amount 
        involved in the violation and not more than the greater of--
                    ``(A) $50,000; or
                    ``(B) 1,000 percent of the amount involved in the 
                violation; or
            ``(3) both imprisoned as provided under paragraph (1) and 
        fined as provided under paragraph (2).
    ``(e) Effect of Conciliation Agreements.--
            ``(1) Evidence of lack of knowledge and intent.--In any 
        criminal action brought for a violation of any provision of 
        this Act or of chapter 95 or 96 of the Internal Revenue Code of 
        1986, any defendant may evidence their lack of knowledge or 
        intent to commit the alleged violation by introducing as 
        evidence a conciliation agreement entered into between the 
        defendant and the Administration under section 373(c)(1) which 
        specifically deals with the act or failure to act constituting 
        such violation and which is still in effect.
            ``(2) Consideration by courts.--In any criminal action 
        brought for a violation of any provision of this Act or of 
        chapter 95 or 96 of the Internal Revenue Code of 1986, the 
        court before which such action is brought shall take into 
        account, in weighing the seriousness of the violation and in 
        considering the appropriateness of the penalty to be imposed if 
        the defendant is found guilty, whether--
                    ``(A) the specific act or failure to act which 
                constitutes the violation for which the action was 
                brought is the subject of a conciliation agreement 
                entered into between the defendant and the 
                Administration under section 373(c)(1);
                    ``(B) the conciliation agreement is in effect; and
                    ``(C) the defendant is, with respect to the 
                violation involved, in compliance with the conciliation 
                agreement.

``SEC. 380. PERIOD OF LIMITATIONS.

    ``No person shall be prosecuted, tried, or punished for any 
violation of this Act, unless the indictment is found or the 
information is instituted within 5 years after the date of the 
violation.

``SEC. 381. AUTHORIZATION OF APPROPRIATIONS.

    ``For each fiscal year, there are authorized to be appropriated to 
the Administration such sums as may be necessary for the purpose of 
carrying out its functions under this Act and under chapters 95 and 96 
of the Internal Revenue Code of 1986.''.

SEC. 1312. EXECUTIVE SCHEDULE POSITIONS.

    (a) Executive Schedule Level III Position.--Section 5314 of title 
5, United States Code, is amended by adding at the end the following:
            ``Chair, Federal Election Administration.''.
    (b) Executive Schedule Level IV Positions.--Section 5315 of title 
5, United States Code, is amended by adding at the end the following:
            ``Members (other than the Chair), Federal Election 
        Administration.
            ``Inspector General, Federal Election Administration.''.

SEC. 1313. GAO EXAMINATION OF ENFORCEMENT OF CAMPAIGN FINANCE LAWS BY 
              THE DEPARTMENT OF JUSTICE.

    (a) Examination.--The Comptroller General of the United States 
shall conduct a thorough examination of the enforcement of the criminal 
provisions of the Federal Election Campaign Act of 1971 (52 U.S.C. 
30101 et seq.) and chapters 95 and 96 of the Internal Revenue Code of 
1986 by the Attorney General.
    (b) Report.--Not later than 1 year after the date of enactment of 
this Act, the Comptroller General shall submit to the Attorney General 
and Congress a report on the examination conducted under subsection (a) 
together with recommendations on how the Attorney General may improve 
the enforcement of the criminal provisions of the Federal Election 
Campaign Act of 1971 (52 U.S.C. 30101 et seq.) and chapters 95 and 96 
of the Internal Revenue Code of 1986, including recommendations on the 
resources that the Attorney General would require to effectively 
enforce such criminal provisions.

SEC. 1314. GAO STUDY AND REPORT ON APPROPRIATE FUNDING LEVELS.

    (a) Study.--The Comptroller General of the United States shall 
conduct an ongoing study on the level of funding that constitutes an 
adequate level of resources for the Federal Election Administration to 
competently execute the responsibilities imposed on the Administration 
by this Act and the amendments made by this Act.
    (b) Report.--Not later than 1 year after the date of enactment of 
this Act, and once every 2 years thereafter, the Comptroller General 
shall submit to the Director of the Office of Management and Budget and 
Congress a report on the study conducted under subsection (a) together 
with recommendations for such legislation and administrative action as 
the Comptroller General determines to be appropriate.

SEC. 1315. CONFORMING AMENDMENTS.

    (a) Independent Agency.--Section 104 of title 5, United States 
Code, is amended--
            (1) in paragraph (1), by striking ``and'' after the 
        semicolon;
            (2) in paragraph (2), by striking the period and inserting 
        ``; and''; and
            (3) by adding at the end the following new paragraph:
            ``(3) the Federal Election Administration.''.
    (b) Coverage Under Inspector General Act.--Section 8G(a)(2) of the 
Inspector General Act of 1978 (5 U.S.C. App.) is amended by striking 
``Federal Election Commission'' and inserting ``Federal Election 
Administration''.
    (c) Coverage of Personnel Under Hatch Act.--Section 7323(b) of 
title 5, United States Code, is amended--
            (1) in paragraph (1), by striking ``Federal Election 
        Commission'' and inserting ``Federal Election Administration''; 
        and
            (2) in paragraph (2)(B)(i)(I), by striking ``Federal 
        Election Commission'' and inserting ``Federal Election 
        Administration''.
    (d) Removal of Exclusion From Senior Executive Service.--Section 
3132(a)(1) of title 5, United States Code, is amended by striking 
subparagraph (C) and by redesignating subparagraphs (D), (E), and (F) 
as subparagraphs (C), (D), and (E), respectively.
    (e) Subtitle A.--Title III of the Federal Election Campaign Act of 
1971 (52 U.S.C. 30101 et seq.) is amended by inserting before section 
301 the following:

                  ``Subtitle A--General Provisions''.

                     PART II--TRANSITION PROVISIONS

SEC. 1321. TRANSFER OF FUNCTIONS OF FEDERAL ELECTION COMMISSION.

    There are transferred to the Federal Election Administration 
established under section 351 of the Federal Election Campaign Act of 
1971 (as added by section 1311) all functions that the Federal Election 
Commission exercised before the date described in section 1326(a).

SEC. 1322. TRANSFER OF PROPERTY, RECORDS, AND PERSONNEL.

    (a) Property and Records.--The contracts, liabilities, records, 
property, and other assets and interests of, or made available in 
connection with, the offices and functions of the Federal Election 
Commission which are transferred by this title are transferred to the 
Federal Election Administration.
    (b) Personnel.--The personnel employed in connection with the 
offices and functions of the Federal Election Commission which are 
transferred by this title are transferred to the Federal Election 
Administration.

SEC. 1323. REPEALS.

    (a) Provisions of the Federal Election Campaign Act of 1971.--The 
following provisions of the Federal Election Campaign Act of 1971 are 
repealed:
            (1) Section 306 (52 U.S.C. 30106).
            (2) Section 307 (52 U.S.C. 30107).
            (3) Section 308 (52 U.S.C. 30108).
            (4) Section 309 (52 U.S.C. 30109).
            (5) Section 310 (52 U.S.C. 30110).
            (6) Section 311 (52 U.S.C. 30111).
            (7) Section 314 (52 U.S.C. 30115).
            (8) Section 406 (52 U.S.C. 30145).
    (b) Other Provisions.--Section 403 of the Bipartisan Campaign 
Reform Act of 2002 (52 U.S.C. 30110 note) is repealed.

SEC. 1324. CONFORMING AMENDMENTS.

    (a) Title III of the Federal Election Campaign Act of 1971 (52 
U.S.C. 30101 et seq.) is amended--
            (1) in section 301, by striking paragraph (10) and 
        inserting the following:
    ``(10) The term `Administration' means the Federal Election 
Administration.'';
            (2) by striking ``Federal Election Commission'' and 
        inserting ``Administration'' each place it appears; and
            (3) by striking ``Commission'' and inserting 
        ``Administration'' each place it appears.
    (b) Section 3502(1)(B) of title 44, United States Code, is amended 
by striking ``Federal Election Commission'' and inserting ``Federal 
Election Administration''.
    (c) Section 207(j)(7)(B)(i) of title 18, United States Code, is 
amended by striking ``the Federal Election Commission by a former 
officer or employee of the Federal Election Commission'' and inserting 
``the Federal Election Administration by a former officer or employee 
of the Federal Election Commission or the Federal Election 
Administration''.
    (d) Section 103 of the Ethics in Government Act of 1978 (5 U.S.C. 
App.) is amended--
            (1) in subsection (e), by striking ``the Federal Election 
        Commission'' and inserting ``the Federal Election 
        Administration''; and
            (2) in subsection (k), by striking ``the Federal Election 
        Commission'' and inserting ``the Federal Election 
        Administration''.
    (e)(1) Section 9002(3) of the Internal Revenue Code of 1986 is 
amended to read as follows:
            ``(3) The term `Administration' means the Federal Election 
        Administration established under section 351 of the Federal 
        Election Campaign Act of 1971.''.
    (2) Chapter 95 of the Internal Revenue Code of 1986 is amended by 
striking ``Commission'' and inserting ``Administration'' each place it 
appears.
    (f)(1) Section 9032(3) of the Internal Revenue Code of 1986 is 
amended to read as follows:
            ``(3) The term `Administration' means the Federal Election 
        Administration established under section 351 of the Federal 
        Election Campaign Act of 1971.''.
    (2) Chapter 96 of the Internal Revenue Code of 1986 is amended by 
striking ``Commission'' and inserting ``Administration'' each place it 
appears.
    (g) Section 3(c) of the Voting Accessibility for the Elderly and 
Handicapped Act (52 U.S.C. 20102(c)) is amended--
            (1) in paragraph (1)--
                    (A) by striking ``Federal Election Commission'' and 
                inserting ``Federal Election Administration''; and
                    (B) by striking ``Commission'' and inserting 
                ``Administration''; and
            (2) in paragraph (2), by striking ``Federal Election 
        Commission'' and inserting ``Federal Election Administration''.
    (h) Section 6(a)(9) of the Lobbying Disclosure Act 1995 (2 U.S.C. 
1605(a)(9)) is amended by striking ``the Federal Election Commission'' 
and inserting ``the Federal Election Administration''.

SEC. 1325. TREATMENT OF CERTAIN REGULATIONS.

    (a) Regulations on Disclosure of Electioneering Communications.--
            (1) In general.--Effective on the date that is 90 days 
        after enactment of this Act, the regulations on disclosure of 
        electioneering communications adopted by the Federal Election 
        Commission and published in the Federal Register at page 419 of 
        volume 68 on January 3, 2003, and at page 5057 of volume 68 on 
        January 31, 2003, as amended at page 72913 of volume 72 on 
        December 26, 2007, are repealed.
            (2) New regulations.--Not later than 90 days after the date 
        of the enactment of this Act, the Federal Election Commission 
        shall promulgate new regulations on disclosure of 
        electioneering communications under section 304(f) of the 
        Federal Election Campaign Act of 1971 (52 U.S.C. 30104(f)). The 
        regulations promulgated under this paragraph shall require the 
        disclosure of the identification of all persons who make a 
        contribution to a person who makes an electioneering 
        communication and shall not limit such disclosure to only to 
        persons who make contributions for the purpose of furthering 
        electioneering communications, or any similar limitation on the 
        scope of such disclosure.
    (b) Regulations on Solicitations at Non-Federal Fundraising 
Events.--
            (1) In general.--Effective on the date that is 90 days 
        after the date of the enactment of this Act, the regulations on 
        participation by Federal candidates and officeholders at non-
        Federal fundraising events adopted by the Federal Election 
        Commission and published in the Federal Register at page 24383 
        of volume 75 on May 5, 2010, are repealed.
            (2) New regulations.--Not later than 90 days after 
        enactment of this Act, the Federal Election Commission shall 
        promulgate new regulations on participation by Federal 
        candidates and officeholders in non-Federal fundraising events. 
        The regulations shall limit the participation by Federal 
        candidates and officeholders in such events to attending, 
        speaking, or being a featured guest at a fundraising event for 
        a State, district, or local committee of a political party, and 
        shall not allow Federal candidates and officeholders to 
        participate in or solicit funds at any other fundraising event 
        where non-Federal funds are raised.

SEC. 1326. EFFECTIVE DATE.

    (a) In General.--Except as provided in section 1325, this subtitle 
and the amendments made by this subtitle shall take effect on the date 
that is 6 months after the date of enactment of this Act.
    (b) Termination of the Federal Election Commission.--
Notwithstanding any other provision of, or amendment made by, this Act, 
the members of the Federal Election Commission shall be removed from 
office on the date described in subsection (a).

                       TITLE II--LOBBYING REFORM

                   Subtitle A--Member Ban on Lobbying

SEC. 2101. LIFETIME BAN ON MEMBERS OF CONGRESS FROM LOBBYING.

    (a) In General.--Section 207(e)(1) of title 18, United States Code, 
is amended to read as follows:
            ``(1) Members of congress.--Any person who is a Senator, a 
        Member of the House of Representatives, or an elected officer 
        of the Senate or the House of Representatives and who, after 
        that person leaves office, knowingly makes, with the intent to 
        influence, any communication to or appearance before any 
        Member, officer, or employee of either House of Congress or any 
        employee of any other legislative office of the Congress, on 
        behalf of any other person (except the United States) in 
        connection with any matter on which such former Senator, 
        Member, or elected official seeks action by a Member, officer, 
        or employee of either House of Congress, in his or her official 
        capacity, shall be punished as provided in section 216 of this 
        title.''.
    (b) Conforming Amendment.--Section 207(e)(2) of title 18, United 
States Code, is amended--
            (1) in the heading, by striking ``Officers and staff'' and 
        inserting ``Staff'';
            (2) by striking ``an elected officer of the Senate, or'';
            (3) by striking ``leaves office or employment'' and 
        inserting ``leaves employment''; and
            (4) by striking ``former elected officer or''.

           Subtitle B--Close the 20-Percent Lobbying Loophole

SEC. 2201. LOBBYIST REGISTRATION REFORMS.

    Section 3(10) of the Lobbying Disclosure Act of 1995 (2 U.S.C. 
1602(10)) is amended by striking ``contact, other than'' and all that 
follows through ``3-month period.'' and inserting ``contact over a 2-
year period.''.

                    TITLE III--REVOLVING DOOR REFORM

SEC. 3001. SHORT TITLE.

    This title may be cited as the ``Financial Services Conflict of 
Interest Act''.

SEC. 3002. RESTRICTIONS ON PRIVATE SECTOR PAYMENT FOR GOVERNMENT 
              SERVICE.

    Section 209 of title 18, United States Code, is amended--
            (1) in subsection (a)--
                    (A) by striking ``any salary'' and inserting ``any 
                bonus, salary''; and
                    (B) by striking ``his services'' and inserting 
                ``services rendered or to be rendered''; and
            (2) in subsection (b)--
                    (A) by inserting ``(1)'' after ``(b)''; and
                    (B) by adding at the end the following:
    ``(2) For purposes of paragraph (1), a pension, retirement, group 
life, health or accident insurance, profit-sharing, stock bonus, or 
other employee welfare or benefit plan that makes payment of 
compensation contingent on accepting a position in the Federal 
Government shall not be considered bona fide.
    ``(3) For purposes of paragraph (2), compensation includes a 
retention award or bonus, severance pay, and any other payment linked 
to future service in the Federal Government in any way.''.

SEC. 3003. REQUIREMENTS RELATING TO SLOWING THE REVOLVING DOOR AMONG 
              FINANCIAL SERVICES REGULATORS.

    (a) In General.--The Ethics in Government Act of 1978 (5 U.S.C. 
App.) is amended by adding at the end the following:

   ``TITLE VI--SPECIAL REQUIREMENTS FOR FINANCIAL SERVICES REGULATORS

``SEC. 601. DEFINITIONS.

    ``(a) In General.--In this title, the terms `designated agency 
ethics official' and `executive branch' have the meanings given such 
terms under section 109.
    ``(b) Other Definitions.--In this title:
            ``(1) Covered financial services agency.--The term `covered 
        financial services agency'--
                    ``(A) means a primary financial regulatory agency 
                (as defined in section 2 of the Dodd-Frank Wall Street 
                Reform and Consumer Protection Act (12 U.S.C. 5301)); 
                and
                    ``(B) includes--
                            ``(i) the Board of Governors of the Federal 
                        Reserve System;
                            ``(ii) the Office of the Comptroller of the 
                        Currency;
                            ``(iii) the Federal Deposit Insurance 
                        Corporation;
                            ``(iv) the National Credit Union 
                        Administration;
                            ``(v) the Securities and Exchange 
                        Commission;
                            ``(vi) the Federal Housing Finance Agency;
                            ``(vii) the Bureau of Consumer Financial 
                        Protection;
                            ``(viii) the Commodity Futures Trading 
                        Commission; and
                            ``(ix) the Department of the Treasury.
            ``(2) Covered financial services regulator.--The term 
        `covered financial services regulator' means an officer or 
        employee of a covered financial services agency who occupies--
                    ``(A) a supervisory position classified above GS-15 
                of the General Schedule;
                    ``(B) in the case of a position not under the 
                General Schedule, a supervisory position for which the 
                rate of basic pay is not less than 120 percent of the 
                minimum rate of basic pay for GS-15 of the General 
                Schedule; or
                    ``(C) any other supervisory position determined to 
                be of equal classification by the Director of the 
                Office of Government Ethics.
            ``(3) Former client.--The term `former client'--
                    ``(A) means a person for whom a covered financial 
                services regulator served personally as an agent, 
                attorney, or consultant during the 2-year period ending 
                on the date (after such service) on which the covered 
                financial services regulator begins service in the 
                Federal Government; and
                    ``(B) does not include--
                            ``(i) instances in which the service 
                        provided was limited to a speech or similar 
                        appearance; or
                            ``(ii) a client of the former employer of 
                        the covered financial services regulator to 
                        whom the covered financial services regulator 
                        did not personally provide such services.
            ``(4) Former employer.--The term `former employer'--
                    ``(A) means a person for whom a covered financial 
                services regulator served as an employee, officer, 
                director, trustee, or general partner during the 2-year 
                period ending on the date (after such service) on which 
                the covered financial services regulator begins service 
                in the Federal Government; and
                    ``(B) does not include--
                            ``(i) an entity in the Federal Government, 
                        including an executive branch agency;
                            ``(ii) a State or local government;
                            ``(iii) the District of Columbia;
                            ``(iv) an Indian tribe, as defined in 
                        section 4 of the Indian Self-Determination and 
                        Education Assistance Act (25 U.S.C. 450b); or
                            ``(v) the government of a territory or 
                        possession of the United States.

``SEC. 602. CONFLICT OF INTEREST AND ELIGIBILITY STANDARDS FOR 
              FINANCIAL SERVICES REGULATORS.

    ``(a) In General.--A covered financial services regulator shall not 
make, participate in making, or in any way attempt to use the official 
position of the covered financial services regulator to influence a 
particular matter that provides a direct and substantial pecuniary 
benefit for a former employer or former client of the covered financial 
services regulator.
    ``(b) Recusal.--A covered financial services regulator shall recuse 
himself or herself from any official action that would violate 
subsection (a).
    ``(c) Waiver.--
            ``(1) In general.--The head of the covered financial 
        services agency employing a covered financial services 
        regulator, in consultation with the Director of the Office of 
        Government Ethics, may grant a written waiver of the 
        restrictions under subsection (a) if, and to the extent that, 
        the head of the covered financial services agency certifies in 
        writing that--
                    ``(A) the application of the restriction to the 
                particular matter is inconsistent with the purposes of 
                the restriction; or
                    ``(B) it is in the public interest to grant the 
                waiver.
            ``(2) Publication.--The Director of the Office of 
        Government Ethics shall make each waiver under paragraph (1) 
        publicly available on the Web site of the Office of Government 
        Ethics.

``SEC. 603. NEGOTIATING FUTURE PRIVATE SECTOR EMPLOYMENT.

    ``(a) Prohibition.--Except as provided in subsection (c), and 
notwithstanding any other provision of law, a covered financial 
services regulator may not participate in any particular matter which 
involves, to the knowledge of the covered financial services regulator, 
an individual or entity with whom the covered financial services 
regulator is in negotiations of future employment or has an arrangement 
concerning prospective employment.
    ``(b) Disclosure of Employment Negotiations.--
            ``(1) In general.--If a covered financial services 
        regulator begins any negotiations of future employment with 
        another person, or an agent or intermediary of another person, 
        or other discussion or communication with another person, or an 
        agent or intermediary of another person, mutually conducted 
        with a view toward reaching an agreement regarding possible 
        employment of the covered financial services regulator, the 
        covered financial services regulator shall notify the 
        designated agency ethics official of the covered financial 
        services agency employing the covered financial services 
        regulator regarding the negotiations, discussions, or 
        communications.
            ``(2) Information.--A designated agency ethics official 
        receiving notice under paragraph (1), after consultation with 
        the Director of the Office of Government Ethics, shall inform 
        the covered financial services regulator of any potential 
        conflicts of interest involved in any negotiations, 
        discussions, or communications with the other person and the 
        prohibitions applicable.
    ``(c) Waivers Only When Exceptional Circumstances Exist.--
            ``(1) In general.--The head of a covered financial services 
        agency may only grant a waiver of subsection (a) if the head 
        determines that exceptional circumstances exist.
            ``(2) Review and publication.--For any waiver granted under 
        paragraph (1), the Director of the Office of Government Ethics 
        shall--
                    ``(A) review the circumstances relating to the 
                waiver and the determination that exceptional 
                circumstances exist; and
                    ``(B) make the waiver publicly available on the Web 
                site of the Office of Government Ethics, which shall 
                include--
                            ``(i) the name of the private person or 
                        persons involved in the negotiations or 
                        arrangement concerning prospective employment; 
                        and
                            ``(ii) the date on which the negotiations 
                        or arrangements commenced.
    ``(d) Scope.--For purposes of this section, the term `negotiations 
of future employment' is not limited to discussions of specific terms 
or conditions of employment in a specific position.

``SEC. 604. RECORDKEEPING.

    ``The Director of the Office of Government Ethics shall--
            ``(1) receive all employment histories, recusal and waiver 
        records, and other disclosure records for covered executive 
        branch officials necessary for monitoring compliance to this 
        title;
            ``(2) promulgate rules and regulations, in consultation 
        with the Director of the Office of Personnel Management and the 
        Attorney General, for implementation of this title;
            ``(3) provide guidance and assistance where appropriate to 
        facilitate compliance with this title;
            ``(4) review and, where necessary, assist designated agency 
        ethics officers in providing advice to covered financial 
        services regulators regarding compliance with this title; and
            ``(5) if the Director determines that a violation of this 
        title may have occurred, and in consultation with the 
        designated agency ethics officer and the Counsel to the 
        President, refer the compliance case to the United States 
        Attorney for the District of Columbia for enforcement action.

``SEC. 605. PENALTIES AND INJUNCTIONS.

    ``(a) Criminal Penalties.--
            ``(1) In general.--Any person who violates section 602 or 
        603 shall be fined under title 18, United States Code, 
        imprisoned for not more than 1 year, or both.
            ``(2) Willful violations.--Any person who willfully 
        violates section 602 or 603 shall be fined under title 18, 
        United States Code, imprisoned for not more than 5 years, or 
        both.
    ``(b) Civil Enforcement.--
            ``(1) In general.--The Attorney General may bring a civil 
        action in the appropriate United States district court against 
        any person who violates, or who the Attorney General has reason 
        to believe is engaging in conduct that violates, section 602 or 
        603.
            ``(2) Civil penalty.--
                    ``(A) In general.--Upon proof by a preponderance of 
                the evidence that a person violated section 602 or 603, 
                the court shall impose a civil penalty of not more than 
                the greater of--
                            ``(i) $100,000 for each violation; or
                            ``(ii) the amount of compensation the 
                        person received or was offered for the conduct 
                        constituting the violation.
                    ``(B) Rule of construction.--A civil penalty under 
                this subsection shall be in addition to any other 
                criminal or civil statutory, common law, or 
                administrative remedy, available to the United States 
                or any other person.
            ``(3) Injunctive relief.--
                    ``(A) In general.--In a civil action brought under 
                paragraph (1) against a person, the Attorney General 
                may petition the court for an order prohibiting the 
                person from engaging in conduct that violates section 
                602 or 603. The court may issue such an order if the 
                court finds by a preponderance of the evidence that the 
                conduct of the person violates section 602 or 603.
                    ``(B) Rule of construction.--The filing of a 
                petition seeking injunctive relief under this paragraph 
                shall not preclude any other remedy which is available 
                by law to the United States or any other person.''.

SEC. 3004. PROHIBITION OF PROCUREMENT OFFICERS ACCEPTING EMPLOYMENT 
              FROM GOVERNMENT CONTRACTORS.

    (a) Expansion of Prohibition on Acceptance by Former Officials of 
Compensation From Contractors.--Section 2104 of title 41, United States 
Code, is amended--
            (1) in subsection (a)--
                    (A) in the matter preceding paragraph (1)--
                            (i) by striking ``or consultant'' and 
                        inserting ``consultant, lawyer, or lobbyist''; 
                        and
                            (ii) by striking ``one year'' and inserting 
                        ``2 years''; and
                    (B) in paragraph (3), by striking ``personally made 
                for the Federal agency'' and inserting ``participated 
                personally and substantially in''; and
            (2) by amending subsection (b) to read as follows:
    ``(b) Prohibition on Compensation From Affiliates and 
Subcontractors.--A former official responsible for a Government 
contract referred to in paragraph (1), (2), or (3) of subsection (a) 
shall be prohibited from accepting compensation for two years after 
awarding such contract from any division, affiliate, or subcontractor 
of the contractor.''.
    (b) Requirement for Procurement Officers To Disclose Job Offers 
Made on Behalf of Relatives.--Section 2103(a) of title 41, United 
States Code, is amended in the matter preceding paragraph (1) by 
inserting after ``that official'' the following: ``, or for a relative 
(as defined in section 3110 of title 5) of that official,''.
    (c) Requirement on Award of Government Contracts to Former 
Employers.--
            (1) In general.--Chapter 21 of title 41, United States 
        Code, is amended by adding at the end the following:
``Sec. 2108. Prohibition on involvement by certain former contractor 
              employees in procurements
    ``An employee of the Federal Government may not be personally and 
substantially involved with any award of a contract to, or the 
administration of a contract awarded to, a contractor that is a former 
employer of the employee during the 2-year period beginning on the date 
on which the employee leaves the employment of the contractor.''.
            (2) Technical and conforming amendment.--The table of 
        sections for chapter 21 of title 41, United States Code, is 
        amended by adding at the end the following:

``2108. Prohibition on involvement by certain former contractor 
                            employees in procurements.''.
    (d) Regulations.--The Administrator for Federal Procurement Policy 
and the Director of the Office of Management and Budget shall--
            (1) in consultation with the Director of the Office of 
        Personnel Management and the Counsel to the President, 
        promulgate regulations to carry out and ensure the enforcement 
        of chapter 21 of title 41, United States Code, as amended by 
        this section; and
            (2) in consultation with designated agency ethics officers 
        (as defined under section 601 of the Ethics in Government Act 
        of 1978 (5 U.S.C. App.)), monitor compliance with such chapter 
        by individuals and agencies.

SEC. 3005. REVOLVING DOOR RESTRICTIONS ON FINANCIAL SERVICES REGULATORS 
              MOVING INTO THE PRIVATE SECTOR.

    (a) In General.--Section 207 of title 18, United States Code, is 
amended--
            (1) by redesignating subsections (e) through (l) as 
        subsections (f) through (m), respectively; and
            (2) by inserting after subsection (d) the following:
    ``(e) Restrictions on Employment for Financial Services 
Regulators.--
            ``(1) In general.--In addition to the restrictions set 
        forth in subsections (a), (b), (c), and (d), a covered 
        financial services regulator shall not--
                    ``(A) during the 2-year period beginning on the 
                date his or her employment as a covered financial 
                services regulator ceases--
                            ``(i) knowingly act as agent or attorney 
                        for, or otherwise represent, any other person 
                        for compensation (except the United States) in 
                        any formal or informal appearance before;
                            ``(ii) with the intent to influence, make 
                        any oral or written communication on behalf of 
                        any other person (except the United States) to; 
                        or
                            ``(iii) knowingly aid, advise, or assist 
                        in--
                                    ``(I) representing any other person 
                                (except the United States) in any 
                                formal or informal appearance before; 
                                or
                                    ``(II) making, with the intent to 
                                influence, any oral or written 
                                communication on behalf of any other 
                                person (except the United States) to,
                any court of the United States, or any officer or 
                employee thereof, in connection with any judicial or 
                other proceeding, which was actually pending under his 
                or her official responsibility as a covered financial 
                services regulator during the 1-year period ending on 
                the date his or her employment as a covered financial 
                services regulator ceases or in which he or she 
                participated personally and substantially as a covered 
                financial services regulator; or
                    ``(B) during the 2-year period beginning on the 
                date his or her employment as a covered financial 
                services regulator ceases--
                            ``(i) knowingly act as a lobbyist or agent 
                        for, or otherwise represent, any other person 
                        for compensation (except the United States) in 
                        any formal or informal appearance before;
                            ``(ii) with the intent to influence, make 
                        any oral or written communication or conduct 
                        any lobbying activities on behalf of any other 
                        person (except the United States) to; or
                            ``(iii) knowingly aid, advise, or assist 
                        in--
                                    ``(I) representing any other person 
                                (except the United States) in any 
                                formal or informal appearance before; 
                                or
                                    ``(II) making, with the intent to 
                                influence, any oral or written 
                                communication or conduct any lobbying 
                                activities on behalf of any other 
                                person (except the United States) to,
                any department or agency of the executive branch or 
                Congress (including any committee of Congress), or any 
                officer or employee thereof, in connection with any 
                matter which is pending before the department, agency, 
                or Congress.
            ``(2) Penalty.--Any person who violates paragraph (1) shall 
        be punished as provided in section 216.
            ``(3) Definitions.--In this subsection--
                    ``(A) the term `covered financial services 
                regulator' has the meaning given that term under 
                section 601 of the Ethics in Government Act of 1978 (5 
                U.S.C. App.); and
                    ``(B) the terms `lobbyist' and `lobbying 
                activities' have the meanings given such terms in 
                section 3 of the Lobbying Disclosure Act of 1995 (2 
                U.S.C. 1602).''.
    (b) Technical and Conforming Amendments.--
            (1) Section 103(a) of the Honest Leadership and Open 
        Government Act of 2007 (2 U.S.C. 4702(a)) is amended by 
        striking ``section 207(e)'' each place it appears and inserting 
        ``section 207(f)''.
            (2) Section 207 of title 18, United States Code, as amended 
        by subsection (a), is amended--
                    (A) in subsection (g), as so redesignated, by 
                striking ``or (e)'' and inserting ``or (f)'';
                    (B) in subsection (j)(1)(B), as so redesignated, by 
                striking ``subsection (f)'' and inserting ``subsection 
                (g)''; and
                    (C) in subsection (k), as so redesignated--
                            (i) in paragraph (2), in the matter 
                        preceding subparagraph (A), by striking ``and 
                        (e)'' and inserting ``(e), and (f)'';
                            (ii) in paragraph (4), by striking ``and 
                        (e)'' and inserting ``(e), and (f)''; and
                            (iii) in paragraph (7)--
                                    (I) in subparagraph (A), by 
                                striking ``and (e)'' and inserting 
                                ``(e), and (f)''; and
                                    (II) in subparagraph (B)(ii), in 
                                the matter preceding subclause (I), by 
                                striking ``subsections (c), (d), or 
                                (e)'' and inserting ``subsection (c), 
                                (d), (e), or (f)''.
            (3) Section 141(b)(3) of the Trade Act of 1974 (19 U.S.C. 
        2171(b)(3)) is amended by striking ``section 207(f)(3)'' and 
        inserting ``207(g)(3)''.
            (4) Section 7802(b)(3)(B) of the Internal Revenue Code of 
        1986 is amended by striking ``and (f) of section 207'' and 
        inserting ``and (g) of section 207''.
            (5) Section 106(p)(6)(I)(ii) of title 49, United States 
        Code, is amended by striking ``and (f) of section 207'' and 
        inserting ``and (g) of section 207''.

SEC. 3006. RESTRICTIONS ON FEDERAL EXAMINERS AND SUPERVISORS OF 
              FINANCIAL INSTITUTIONS.

    (a) In General.--Section 10(k) of the Federal Deposit Insurance Act 
(12 U.S.C. 1820(k)) is amended--
            (1) in the subsection heading--
                    (A) by striking ``One-Year'' and inserting ``Two-
                Year''; and
                    (B) by striking ``Examiners'' and inserting 
                ``Examiners and Supervisors'';
            (2) in paragraph (1)--
                    (A) by striking subparagraph (B) and inserting the 
                following:
                    ``(B) served--
                            ``(i) not less than 2 months during the 
                        final 12 months of the employment of the person 
                        with such agency or entity as the senior 
                        examiner (or a functionally equivalent 
                        position) of a depository institution or 
                        depository institution holding company with 
                        continuing, broad responsibility for the 
                        examination (or inspection) of that depository 
                        institution or depository institution holding 
                        company on behalf of the relevant agency or 
                        Federal reserve bank; or
                            ``(ii) as a supervisor of the senior 
                        examiner with responsibility for managing the 
                        oversight of not more than 5 depository 
                        institutions or depository institution holding 
                        companies on behalf of the relevant agency or 
                        Federal reserve bank; and''; and
                    (B) in subparagraph (C)--
                            (i) in the matter preceding clause (i), by 
                        striking ``1 year'' and inserting ``2 years'';
                            (ii) in clause (i), by striking ``or'' and 
                        inserting a semicolon;
                            (iii) in clause (ii), by striking the 
                        period at the end and inserting a semicolon; 
                        and
                            (iv) by adding at the end the following:
                            ``(iii) a business entity, firm, or 
                        association that represents the depository 
                        institution or depository institution holding 
                        company for compensation.'';
            (3) by redesignating paragraphs (2) through (6) as 
        paragraphs (3) through (7), respectively;
            (4) by inserting after paragraph (1) the following:
            ``(2) Application of penalties for supervisors.--A 
        supervisor of a large financial service regulatory agency or a 
        supervisor of a senior examiner shall be subject to the 
        penalties described in paragraph (7) if the supervisor of the 
        senior examiner or the senior examiner knowingly accepts 
        compensation during the period beginning on the date on which 
        the service of the supervisor or senior examiner is terminated 
        and ending on the date that is 2 years after the date on which 
        the service on which the service of the supervisor or senior 
        examiner is terminated--
                    ``(A) as--
                            ``(i) an employee;
                            ``(ii) an officer;
                            ``(iii) a director; or
                            ``(iv) a consultant; and
                    ``(B) from--
                            ``(i) a depository institution;
                            ``(ii) a depository institution holding 
                        company that is designated by the Financial 
                        Stability Oversight Council as a systemically 
                        important financial market utility under 
                        section 804 of the Payment, Clearing, and 
                        Settlement Supervision Act of 2010 (12 U.S.C. 
                        5463); or
                            ``(iii) a business entity, firm, or 
                        association that represents an institution 
                        described in clause (ii) for compensation.'';
            (5) in paragraph (4), as so redesignated, by striking ``or 
        other company.'' and inserting ``or other company, firm, or 
        association.''; and
            (6) in the matter preceding clause (i) of subparagraph (A) 
        of paragraph (7), as so redesignated, by striking ``other 
        company'' and inserting ``other company, firm, or 
        association''.
    (b) Technical and Conforming Amendments.--Section 10(k) of the 
Federal Deposit Insurance Act (12 U.S.C. 1820(k)) is amended--
            (1) in paragraph (1), by striking ``paragraph (6)'' and 
        inserting ``paragraph (7)'';
            (2) in paragraph (5)(A), as so redesignated, by inserting 
        ``and paragraph (2)'' before the period at the end; and
            (3) in paragraph (7), as so redesignated--
                    (A) in subparagraph (A)--
                            (i) by striking ``subject to paragraph 
                        (1)'' and inserting ``subject to paragraph (1) 
                        or (2)''; and
                            (ii) by striking ``paragraph (1)(C)'' and 
                        inserting ``paragraph (1)(C) or paragraph 
                        (2)''; and
                    (B) in subparagraph (C)--
                            (i) by striking ``person described in 
                        paragraph (1)'' and inserting ``person 
                        described in paragraph (1) or (2)''; and
                            (ii) by inserting ``paragraph (2)'' before 
                        the period at the end.

                         TITLE IV--SEVERABILITY

SEC. 4001. SEVERABILITY.

    If any provision of this Act or amendment made by this Act, or the 
application of a provision or amendment to any person or circumstance, 
is held to be unconstitutional, the remainder of this and amendments 
made by this Act, and the application of the provisions and amendment 
to any person or circumstance, shall not be affected by the holding.
                                 <all>
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