didate and the office sought by, and the po-
litical party affiliation of, the candidate; 
and 
‘‘(v) the name or identity of trade asso-
ciations or organizations described in sec-
tion 501(c) of the Internal Revenue Code of 
1986 and exempt from tax under section 
501(a) of such Code which receive dues or 
other payments as described in paragraph 
(1)(A)(i)(III). 
‘‘(B) PUBLIC AVAILABILITY.—The Commis-
sion shall ensure that the quarterly reports re-
quired under this paragraph are publicly avail-
able through the Internet website of the Commis-
sion and through the EDGAR system in a man-
ner 
that 
is 
searchable, 
sortable, 
and 
downloadable, consistent with the requirements 
under section 24. 
‘‘(3) ANNUAL
REPORTS.—Not later than 180 
days after the date of enactment of this subsection, the 
Commission shall, by rule, require each issuer to in-
clude in the annual report of the issuer to share-
holders— 
‘‘(A) a summary of each expenditure for po-
litical activities made during the preceding year 
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in excess of $10,000, and each expenditure for 
political activities for a particular election if the 
total amount of such expenditures for that elec-
tion is in excess of $10,000; 
‘‘(B) a description of the specific nature of 
any expenditure for political activities the issuer 
intends to make for the forthcoming fiscal year, 
to the extent the specific nature is known to the 
issuer; and 
‘‘(C) the total amount of expenditures for 
political activities intended to be made by the 
issuer for the forthcoming fiscal year.’’. 
SEC. 4. REPORTS. 
(a) SECURITIES AND EXCHANGE COMMISSION.—The 
Securities and Exchange Commission shall— 
(1) conduct an annual assessment of the compli-
ance of issuers with section 13(s) of the Securities Ex-
change Act of 1934, as added by section 3; and 
(2) submit to Congress an annual report con-
taining the results of the assessment under paragraph 
(1). 
(b) GOVERNMENT
ACCOUNTABILITY
OFFICE.—The 
Comptroller General of the United States shall periodically 
evaluate and report to Congress on the effectiveness of the 
oversight by the Securities and Exchange Commission of the 
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reporting and disclosure requirements under section 13(s) 
of the Securities Exchange Act of 1934, as added by section 
3. 
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Union Calendar No. 36 
117TH CONGRESS 
1ST SESSION 
H. R. 1087 
[Report No. 117–53] 
A BILL 
To amend the Securities Exchange Act of 1934 to 
require reporting of certain expenditures for po-
litical activities, and for other purposes. 
JUNE 8, 2021 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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