or indirectly acquired beneficial ownership of 
equity or voting shares in an aggregate amount 
equal to or greater than 5 percent of total eq-
uity or outstanding voting shares (as deter-
mined by excluding any equity or shares owned 
by a mutual fund), including a separate seg-
regated fund of such a corporation under sec-
tion 316; or 
‘‘(F) a corporation in which one or more 
foreign nationals (other than those described in 
subparagraph (C)) holds, owns, controls, or oth-
erwise has directly or indirectly acquired bene-
ficial ownership of equity or voting shares in an 
aggregate amount equal to or greater than 20 
percent of total equity or outstanding voting 
shares (as determined by excluding any equity 
or shares owned by a mutual fund), including 
a separate segregated fund of such a corpora-
tion. 
‘‘(2) USE OF QUARTERLY SEC REPORTS.—In 
the case of a corporation which is required to file 
quarterly reports with the Securities and Exchange 
Commission under section 13 of the Securities Ex-
change Act of 1934 (15 U.S.C. 78m), the deter-
mination as to whether a corporation is described in 
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subparagraph (D), (E), or (F) shall be based on the 
most recent such report.’’. 
SEC. 102. PROHIBITING FOREIGN-AFFILIATED SECTION 
501(c)(4) ORGANIZATIONS FROM MAKING CER-
TAIN ELECTION-RELATED DISBURSEMENTS. 
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 section: 
‘‘SEC. 325. PROHIBITION ON CERTAIN ELECTION-RELATED 
DISBURSEMENTS 
BY 
FOREIGN-AFFILIATED 
SECTION 501(c)(4) ORGANIZATIONS. 
‘‘(a) PROHIBITION.—It is unlawful for a foreign-af-
filiated section 501(c)(4) organization to make an election- 
related disbursement described in subsection (b). 
‘‘(b) 
ELECTION-RELATED
DISBURSEMENT
DE-
SCRIBED.—An election-related disbursement described in 
this subsection is any of the following: 
‘‘(1) A contribution to a super PAC. 
‘‘(2) An independent expenditure. 
‘‘(3) The disbursement of funds for the dissemi-
nation of an electioneering communication. 
‘‘(c) DEFINITION OF FOREIGN-AFFILIATED SECTION 
501(c)(4) ORGANIZATION.—In this section, a ‘foreign-af-
filiated section 501(c)(4) organization’ is a section 
501(c)(4) organization with respect to which— 
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‘‘(1) the amount of contributions provided to 
the organization by foreign nationals described in 
subparagraph (C) of section 319(b)(1) was equal to 
or greater than 5 percent of the gross receipts of the 
organization, as determined on the basis of the most 
recent taxable year for which information on the 
gross receipts of the organization is available or, in 
the case of an organization which is required to file 
quarterly reports with the Securities and Exchange 
Commission under section 13 of the Securities Ex-
change Act of 1934 (15 U.S.C. 78m), the most re-
cent such report, or 
‘‘(2) the amount of contributions provided to 
the organization by all foreign nationals described in 
section 319(b) was equal to or greater than 20 per-
cent of the gross receipts of the organization, as de-
termined on the basis of the most recent taxable 
year for which information on the gross receipts of 
the organization is available or, in the case of an or-
ganization which is required to file quarterly reports 
with the Securities and Exchange Commission under 
section 13 of the Securities Exchange Act of 1934 
(15 U.S.C. 78m), the most recent such report. 
‘‘(d) OTHER DEFINITIONS.—In this section— 
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‘‘(1) the term ‘electioneering communication’ 
has the meaning given such term in section 
304(f)(3); 
‘‘(2) the term ‘section 501(c)(4) organization’ 
means an organization described in section 501(c)(4) 
of the Internal Revenue Code of 1986 and exempt 
from taxation under section 501(a) of such Code; 
and 
‘‘(3) term ‘super PAC’ means a political com-
mittee which accepts donations or contributions that 
do not comply with the limitations and prohibitions 
of this Act (or has an account which is established 
for the purpose of accepting such donations or con-
tributions) and which makes only independent ex-
penditures (or has an account which is established 
for the purpose of making only independent expendi-
tures).’’. 
SEC. 103. ACTIVITIES SUBJECT TO BAN. 
(a) CONTRIBUTIONS AND DONATIONS IN CONNEC-
TION WITH BALLOT INITIATIVES AND REFERENDA.— 
Section 319(a)(1)(A) of the Federal Election Campaign 
Act of 1971 (52 U.S.C. 30121(a)(1)(A)) is amended by 
striking ‘‘election;’’ and inserting the following: ‘‘election, 
including a State or local ballot initiative or referendum;’’. 
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(b) COVERAGE OF CERTAIN ELECTION-RELATED AC-
TIVITIES.—Section 319 of such Act (52 U.S.C. 30121) is 
amended by adding at the end the following new sub-
section: 
‘‘(c) A foreign national shall not direct, dictate, con-
trol, or directly or indirectly participate in the decision-
making process of any person with regard to such person’s 
Federal or non-Federal election-related activities, such as 
decisions concerning the making of contributions or ex-
penditures in connection with elections for any local, 
State, or Federal office or decisions concerning the admin-
istration of a political committee.’’. 
SEC. 104. PROHIBITING ACCEPTANCE OF CONTRIBUTIONS 
FROM FOREIGN AGENTS. 
Section 315 of the Federal Election Campaign Act 
of 1971 (52 U.S.C. 30116) is amended by adding at the 
end the following new subsection: 
‘‘(k) PROHIBITING ACCEPTANCE OF CONTRIBUTIONS 
FROM FOREIGN AGENTS.— 
‘‘(1) 
DIRECT
CONTRIBUTIONS.—A 
political 
committee may not accept any contribution from an 
individual who, at the time the date the individual 
makes the contribution, is registered as the agent of 
a foreign principal under the Foreign Agents Reg-
istration Act of 1938 (22 U.S.C. 611 et seq.). 
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‘‘(2) BUNDLED CONTRIBUTIONS.— 
‘‘(A) PROHIBITION.—A political committee 
may not accept any bundled contribution which 
is provided by an individual who, at the time 
the individual provides the bundled contribu-
tion, is registered as the agent of a foreign 
principal under the Foreign Agents Registration 
Act of 1938 (22 U.S.C. 611 et seq.). 
‘‘(B) DEFINITION.—In this paragraph, the 
term ‘bundled contribution’ means, with respect 
to an individual described in subparagraph (A), 
a contribution which is— 
‘‘(i) forwarded from the contributor or 
contributors to the committee by the indi-
vidual; or 
‘‘(ii) received by the committee from a 
contributor or contributors, but credited by 
the committee or candidate involved (or, in 
the case of a leadership PAC described in 
subparagraph (B) of subsection (j)(8), by 
the individual referred to in such subpara-
graph) to the individual through records, 
designations, or other means of recognizing 
that a certain amount of money has been 
raised by the individual.’’. 
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