‘‘(i) the Top Five Funders list (if ap-
plicable); or 
‘‘(ii) in the case of a communication 
which, as determined on the basis of cri-
teria established in regulations issued by 
the Commission, is of such short duration 
that including the Top Five Funders list in 
the communication would constitute a 
hardship to the person paying for the com-
munication by requiring a disproportionate 
amount of the content of the communica-
tion to consist of the Top Five Funders 
list, the name of a website which contains 
the Top Five Funders list (if applicable) 
or, in the case of an internet or digital 
communication, 
a 
hyperlink 
to 
such 
website. 
‘‘(C) If the communication is transmitted 
in an audio format and is paid for in whole or 
in part with a payment which is treated as a 
campaign-related disbursement under section 
324— 
‘‘(i) the Top Two Funders list (if ap-
plicable); or 
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‘‘(ii) in the case of a communication 
which, as determined on the basis of cri-
teria established in regulations issued by 
the Commission, is of such short duration 
that including the Top Two Funders list in 
the communication would constitute a 
hardship to the person paying for the com-
munication by requiring a disproportionate 
amount of the content of the communica-
tion to consist of the Top Two Funders 
list, the name of a website which contains 
the Top Two Funders list (if applicable). 
‘‘(2) DISCLOSURE STATEMENTS DESCRIBED.— 
‘‘(A) INDIVIDUAL
DISCLOSURE
STATE-
MENTS.—The individual disclosure statement 
described in this subparagraph is the following: 
‘I am llllllll, and I approve this 
message.’, with the blank filled in with the 
name of the applicable individual. 
‘‘(B) 
ORGANIZATIONAL
DISCLOSURE 
STATEMENTS.—The organizational disclosure 
statement described in this subparagraph is the 
following: 
‘I 
am 
llllllll, 
the 
llllllll of llllllll, and 
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llllllll approves this message.’, 
with— 
‘‘(i) the first blank to be filled in with 
the name of the applicable individual; 
‘‘(ii) the second blank to be filled in 
with the title of the applicable individual; 
and 
‘‘(iii) the third and fourth blank each 
to be filled in with the name of the organi-
zation or other person paying for the com-
munication. 
‘‘(3) METHOD
OF
CONVEYANCE
OF
STATE-
MENT.— 
‘‘(A) 
COMMUNICATIONS
IN
TEXT
OR 
GRAPHIC FORMAT.—In the case of a commu-
nication to which this subsection applies which 
is transmitted in a text or graphic format, the 
disclosure statements required under paragraph 
(1) shall appear in letters at least as large as 
the majority of the text in the communication. 
‘‘(B) COMMUNICATIONS TRANSMITTED IN 
AUDIO FORMAT.—In the case of a communica-
tion to which this subsection applies which is 
transmitted in an audio format, the disclosure 
statements required under paragraph (1) shall 
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be made by audio by the applicable individual 
in a clear and conspicuous manner. 
‘‘(C) COMMUNICATIONS TRANSMITTED IN 
VIDEO FORMAT.—In the case of a communica-
tion to which this subsection applies which is 
transmitted in a video format, the information 
required under paragraph (1)— 
‘‘(i) shall appear in writing at the end 
of the communication or in a crawl along 
the bottom of the communication in a clear 
and conspicuous manner, with a reasonable 
degree of color contrast between the back-
ground and the printed statement, for a 
period of at least 6 seconds; and 
‘‘(ii) shall also be conveyed by an 
unobscured, full-screen view of the applica-
ble individual or by the applicable indi-
vidual making the statement in voice-over 
accompanied by a clearly identifiable pho-
tograph or similar image of the individual, 
except in the case of a Top Five Funders 
list. 
‘‘(4) APPLICABLE INDIVIDUAL DEFINED.—The 
term ‘applicable individual’ means, with respect to a 
communication to which this subsection applies— 
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‘‘(A) if the communication is paid for by 
an individual, the individual involved; 
‘‘(B) if the communication is paid for by a 
corporation, the chief executive officer of the 
corporation (or, if the corporation does not have 
a chief executive officer, the highest ranking of-
ficial of the corporation); 
‘‘(C) if the communication is paid for by a 
labor organization, the highest ranking officer 
of the labor organization; and 
‘‘(D) if the communication is paid for by 
any other person, the highest ranking official of 
such person. 
‘‘(5) TOP FIVE FUNDERS LIST AND TOP TWO 
FUNDERS LIST DEFINED.— 
‘‘(A) TOP FIVE FUNDERS LIST.—The term 
‘Top Five Funders list’ means, with respect to 
a communication which is paid for in whole or 
in part with a campaign-related disbursement 
(as defined in section 324), a list of the five 
persons who, during the 12-month period end-
ing on the date of the disbursement, provided 
the largest payments of any type in an aggre-
gate amount equal to or exceeding $10,000 to 
the person who is paying for the communication 
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and the amount of the payments each such per-
son provided. If two or more people provided 
the fifth largest of such payments, the person 
paying for the communication shall select one of 
those persons to be included on the Top Five 
Funders list. 
‘‘(B) TOP TWO FUNDERS LIST.—The term 
‘Top Two Funders list’ means, with respect to 
a communication which is paid for in whole or 
in part with a campaign-related disbursement 
(as defined in section 324), a list of the persons 
who, during the 12-month period ending on the 
date of the disbursement, provided the largest 
and the second largest payments of any type in 
an aggregate amount equal to or exceeding 
$10,000 to the person who is paying for the 
communication and the amount of the pay-
ments each such person provided. If two or 
more persons provided the second largest of 
such payments, the person paying for the com-
munication shall select one of those persons to 
be included on the Top Two Funders list. 
‘‘(C) 
EXCLUSION
OF
CERTAIN
PAY-
MENTS.—For purposes of subparagraphs (A) 
and (B), in determining the amount of pay-
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ments made by a person to a person paying for 
a communication, there shall be excluded the 
following: 
‘‘(i) Any amounts provided in the or-
dinary course of any trade or business con-
ducted by the person paying for the com-
munication or in the form of investments 
in the person paying for the communica-
tion. 
‘‘(ii) Any payment which the person 
prohibited, in writing, from being used for 
campaign-related disbursements, but only 
if the person paying for the communication 
agreed to follow the prohibition and depos-
ited the payment in an account which is 
segregated from any account used to make 
campaign-related disbursements. 
‘‘(6) SPECIAL
RULES
FOR
CERTAIN
COMMU-
NICATIONS.— 
‘‘(A) EXCEPTION
FOR
COMMUNICATIONS 
PAID FOR BY POLITICAL PARTIES AND CERTAIN 
POLITICAL COMMITTEES.—This subsection does 
not apply to any communication to which sub-
section (d)(2) applies. 
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‘‘(B) TREATMENT OF VIDEO COMMUNICA-
TIONS LASTING 10 SECONDS OR LESS.—In the 
case of a communication to which this sub-
section applies which is transmitted in a video 
format, or is an internet or digital communica-
tion which is transmitted in a text or graphic 
format, the communication shall meet the fol-
lowing requirements: 
‘‘(i) The communication shall include 
the individual disclosure statement de-
scribed in paragraph (2)(A) (if the person 
paying for the communication is an indi-
vidual) or the organizational disclosure 
statement described in paragraph (2)(B) 
(if the person paying for the communica-
tion is not an individual). 
‘‘(ii) The statement described in 
clause (i) shall appear in writing at the 
end of the communication, or in a crawl 
along the bottom of the communication, in 
a clear and conspicuous manner, with a 
reasonable degree of color contrast between 
the background and the printed statement, 
for a period of at least 4 seconds. 
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‘‘(iii) The communication shall in-
clude, in a clear and conspicuous manner, 
a website address with a landing page 
which will provide all of the information 
described in paragraph (1) with respect to 
the communication. Such address shall ap-
pear for the full duration of the commu-
nication. 
‘‘(iv) To the extent that the format in 
which the communication is made permits 
the use of a hyperlink, the communication 
shall include a hyperlink to the website ad-
dress described in clause (iii).’’. 
(b) APPLICATION OF EXPANDED REQUIREMENTS TO 
PUBLIC COMMUNICATIONS CONSISTING
OF CAMPAIGN- 
RELATED DISBURSEMENTS.— 
(1) IN GENERAL.—Section 318(a) of such Act 
(52 U.S.C. 30120(a)) is amended by striking ‘‘for 
the purpose of financing communications expressly 
advocating the election or defeat of a clearly identi-
fied candidate’’ and inserting ‘‘for a campaign-re-
lated disbursement, as defined in section 324, con-
sisting of a public communication’’. 
(2) CLARIFICATION OF EXEMPTION FROM IN-
CLUSION OF CANDIDATE DISCLAIMER STATEMENT IN 
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FEDERAL
JUDICIAL
NOMINATION
COMMUNICA-
TIONS.—Section 318(a)(3) of such Act (52 U.S.C. 
30120(a)(3)) is amended by striking ‘‘shall state’’ 
and inserting ‘‘shall (except in the case of a Federal 
judicial nomination communication, as defined in 
section 324(d)(3)) state’’. 
(c) EXCEPTION FOR COMMUNICATIONS PAID FOR BY 
POLITICAL PARTIES AND CERTAIN POLITICAL COMMIT-
TEES.—Section 318(d)(2) of such Act (52 U.S.C. 
30120(d)(2)) is amended— 
(1) in the heading, by striking ‘‘OTHERS’’ and 
inserting ‘‘CERTAIN POLITICAL COMMITTEES’’; 
(2) by striking ‘‘Any communication’’ and in-
serting ‘‘(A) Any communication’’; 
(3) by inserting ‘‘which (except to the extent 
provided in subparagraph (B)) is paid for by a polit-
ical committee (including a political committee of a 
political party) and’’ after ‘‘subsection (a)’’; 
(4) by striking ‘‘or other person’’ each place it 
appears; and 
(5) by adding at the end the following new sub-
paragraph: 
‘‘(B)(i) This paragraph does not apply to a 
communication paid for in whole or in part during 
a calendar year with a campaign-related disburse-
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ment, but only if the covered organization making 
the campaign-related disbursement made campaign- 
related disbursements (as defined in section 324) ag-
gregating more than $10,000 during such calendar 
year. 
‘‘(ii) For purposes of clause (i), in determining 
the amount of campaign-related disbursements made 
by a covered organization during a year, there shall 
be excluded the following: 
‘‘(I) Any amounts received by the covered 
organization in the ordinary course of any trade 
or business conducted by the covered organiza-
tion or in the form of investments in the cov-
ered organization. 
‘‘(II) Any amounts received by the covered 
organization from a person who prohibited, in 
writing, the organization from using such 
amounts for campaign-related disbursements, 
but only if the covered organization agreed to 
follow the prohibition and deposited the 
amounts in an account which is segregated 
from any account used to make campaign-re-
lated disbursements.’’. 
(d) MODIFICATION OF ADDITIONAL REQUIREMENTS 
FOR CERTAIN COMMUNICATIONS.—Section 318(d) of the 
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Federal Election Campaign Act of 1971 (52 U.S.C. 
30120(d)) is amended— 
(1) in paragraph (1)(A)— 
(A) by striking ‘‘which is transmitted 
through radio’’ and inserting ‘‘which is in an 
audio format’’; and 
(B) by striking ‘‘By radio’’ in the heading 
and inserting ‘‘Audio format’’; 
(2) in paragraph (1)(B)— 
(A) by striking ‘‘which is transmitted 
through television’’ and inserting ‘‘which is in 
video format’’; and 
(B) by striking ‘‘By television’’ in the 
heading and inserting ‘‘Video format’’; and 
(3) in paragraph (2)— 
(A) by striking ‘‘transmitted through radio 
or television’’ and inserting ‘‘made in audio or 
video format’’; and 
(B) by striking ‘‘through television’’ in the 
second sentence and inserting ‘‘in video for-
mat’’. 
SEC. 303. DISCLAIMER REQUIREMENTS FOR COMMUNICA-
TIONS MADE THROUGH PRERECORDED TELE-
PHONE CALLS. 
(a) APPLICATION OF REQUIREMENTS.— 
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