I 
118TH CONGRESS 
2D SESSION 
H. R. 8988 
To amend the Federal Election Campaign Act of 1971 to apply the ban 
on contributions and expenditures by foreign nationals under such Act 
to foreign-controlled, foreign-influenced, and foreign-owned domestic busi-
ness entities, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 10, 2024 
Mr. RASKIN (for himself, Mr. ALLRED, Mr. CARSON, Mr. CROW, Mr. 
DESAULNIER, Ms. PEREZ, Mr. GOLDEN of Maine, Mr. GOLDMAN of New 
York, Mr. GOTTHEIMER, Mr. GRIJALVA, Ms. JAYAPAL, Mr. JOHNSON of 
Georgia, Mr. LEVIN, Ms. NORTON, Ms. OCASIO-CORTEZ, Mr. POCAN, Ms. 
SCANLON, Ms. SCHAKOWSKY, Ms. SLOTKIN, Ms. TLAIB, Mrs. TRAHAN, 
Mr. TRONE, and Ms. WILD) introduced the following bill; which was re-
ferred to the Committee on House Administration 
A BILL 
To amend the Federal Election Campaign Act of 1971 to 
apply the ban on contributions and expenditures by for-
eign nationals under such Act to foreign-controlled, for-
eign-influenced, and foreign-owned domestic business en-
tities, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Get Foreign Money 
Out of U.S. Elections Act’’. 
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SEC. 2. APPLICATION OF BAN ON CONTRIBUTIONS AND EX-
PENDITURES BY FOREIGN NATIONALS TO DO-
MESTIC BUSINESS ENTITIES THAT ARE FOR-
EIGN-CONTROLLED, 
FOREIGN-INFLUENCED, 
AND FOREIGN-OWNED. 
(a) APPLICATION OF BAN.—Section 319(b) of the 
Federal Election Campaign Act of 1971 (52 U.S.C. 
30121(b)) is amended— 
(1) by striking ‘‘or’’ at the end of paragraph 
(1); 
(2) by striking the period at the end of para-
graph (2) and inserting a semicolon; and 
(3) by adding at the end the following new 
paragraphs: 
‘‘(3) any business entity in which a foreign na-
tional which is outside of the United States and is 
described in paragraph (1) or (2) directly or indi-
rectly owns or controls or otherwise holds direct or 
indirect beneficial ownership of 50 percent or more 
of the voting shares, total equity, membership units, 
or other applicable ownership interests of the entity; 
or 
‘‘(4) any business entity which is not a foreign 
national described in paragraph (1), and— 
‘‘(A) in which a foreign national which is 
outside of the United States and is described in 
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paragraph (1), (2), or (3) directly or indirectly 
owns or controls or otherwise holds direct or in-
direct beneficial ownership of 1 percent or more 
of the voting shares, total equity, membership 
units, or other applicable ownership units of the 
entity; 
‘‘(B) in which two or more foreign nation-
als which are outside of the United States and 
are described in paragraph (1), (2), or (3), in 
the aggregate, directly or indirectly own or con-
trol or otherwise hold direct or indirect bene-
ficial ownership of 5 percent or more of the vot-
ing shares, total equity, membership units, or 
other applicable ownership interests of the enti-
ty; 
‘‘(C) over which one or more foreign na-
tionals which are outside of the United States 
and are described in paragraph (1), (2), or (3) 
have the power to direct, dictate, or control the 
decisionmaking process of the entity with re-
spect to its interests in the United States; or 
‘‘(D) over which one or more foreign na-
tionals which are outside of the United States 
and are described in paragraph (1), (2), or (3) 
have the power to direct, dictate, or control the 
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a chief executive officer, the highest ranking official 
of the entity), shall file a certification with the Com-
mission, under penalty of perjury, avowing that after 
due inquiry, the entity was not a foreign national on 
the date the entity made the contribution, donation, 
expenditure, independent expenditure, or disburse-
ment. 
‘‘(2) DETERMINATION OF BENEFICIAL OWNER-
SHIP.—A business entity shall determine beneficial 
ownership for purposes of this section in a manner 
consistent with applicable State law, except that if 
the entity is registered pursuant to section 12(g) of 
the Securities Exchange Act of 1934 (15 U.S.C. 
78l), the entity shall determine beneficial ownership 
in accordance with section 13(d) of that Act (15 
U.S.C. 78m(d)). 
‘‘(3) PROVISION TO RECIPIENTS.—The business 
entity shall provide a copy of the certification filed 
under paragraph (1) to each political committee to 
which it makes a contribution, and, upon the request 
of the recipient, to each recipient of a contribution, 
donation, expenditure, independent expenditure, or 
disbursement with respect to which the certification 
under paragraph (1) is filed.’’. 
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(c) PREVENTION OF CIRCUMVENTION.—Section 319 
of such Act (52 U.S.C. 30121), as amended by subsection 
(b), is amended by adding at the end the following new 
subsection: 
‘‘(d) PROHIBITING USE OF FUNDS FROM BUSINESS 
ENTITIES WITHOUT CERTIFICATION.— 
‘‘(1) PROHIBITION.—Except as provided in 
paragraph (2), it shall be unlawful for any person 
that receives from a business entity a contribution, 
donation, expenditure, independent expenditure, or 
disbursement with respect to which the business en-
tity is required to file a certification of compliance 
under subsection (c) to use that contribution, dona-
tion, expenditure, independent expenditure, or dis-
bursement, directly or indirectly, to— 
‘‘(A) make such a contribution, donation, 
expenditure, independent expenditure, or dis-
bursement; or 
‘‘(B) contribute, donate, transfer, or other-
wise convey such a contribution, donation, ex-
penditure, independent expenditure, or dis-
bursement to another person for use as such a 
contribution, 
donation, 
expenditure, 
inde-
pendent expenditure, or disbursement. 
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‘‘(2) EXCEPTION FOR FUNDS ACCOMPANIED BY 
CERTIFICATION.—Paragraph (1) does not apply to a 
person that receives from a business entity a con-
tribution, donation, expenditure, independent ex-
penditure, or disbursement described in such para-
graph if— 
‘‘(A) the person receives from the business 
entity a copy of the certification of compliance 
under subsection (c) with respect to such con-
tribution, donation, expenditure, independent 
expenditure, or disbursement; 
‘‘(B) the use by the person of the contribu-
tion, donation, expenditure, independent ex-
penditure, or disbursement is otherwise lawful; 
and 
‘‘(C) the person separately designates, 
records, and accounts for the contribution, do-
nation, expenditure, independent expenditure, 
or disbursement, and ensures that disburse-
ments by the person for a contribution, dona-
tion, expenditure, independent expenditure, dis-
bursement for an electioneering communication, 
or any disbursement in connection with an elec-
tion for Federal, State, or local office are only 
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made from funds that comply with the require-
ments of this section. 
‘‘(3) GOOD FAITH RELIANCE ON CERTIFICATION 
OF COMPLIANCE.—For purposes of this subsection, 
a person may rely in good faith on a certification of 
compliance provided to the person under subsection 
(c)(3).’’. 
(d) BUSINESS ENTITY DEFINED.—Section 319 of 
such Act (52 U.S.C. 30121), as amended by subsection 
(b) and subsection (c), is amended by adding at the end 
the following new subsection: 
‘‘(e) BUSINESS ENTITY DEFINED.—For purposes of 
this section, the term ‘business entity’ means a for-profit 
corporation, limited liability corporation, partnership, 
company, limited partnership, business trust, business as-
sociation, or other similar for-profit entity.’’. 
(e) EFFECTIVE DATE.—The amendments made by 
this section shall take effect upon the expiration of the 
180-day period which begins on the date of the enactment 
of this Act, and shall take effect without regard to whether 
or not the Federal Election Commission has promulgated 
regulations to carry out such amendments. 
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SEC. 3. CLARIFICATION OF APPLICATION OF FOREIGN 
MONEY BAN TO CERTAIN DISBURSEMENTS 
AND ACTIVITIES. 
(a) APPLICATION TO DISBURSEMENTS IN CONNEC-
TION WITH STATE AND LOCAL BALLOT INITIATIVES AND 
DISBURSEMENTS
TO
SUPER
PACS.—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;’’ inserting the following: ‘‘election (including a 
State or local ballot initiative or referendum), including 
any disbursement to a political committee which accepts 
donations or contributions that do not comply with the 
limitations, prohibitions, or reporting requirements of this 
Act (or any disbursement to or on behalf of any account 
of a political committee which is established for the pur-
pose of accepting such donations or contributions);’’. 
(b) CONDITIONS UNDER WHICH CORPORATE PACS 
MAY MAKE CONTRIBUTIONS AND EXPENDITURES.—Sec-
tion 316(b) of such Act (52 U.S.C. 30118(b)) is amended 
by adding at the end the following new paragraph: 
‘‘(8) A separate segregated fund established by a cor-
poration may not make a contribution or expenditure dur-
ing a year unless the fund has certified to the Commission 
each of the following during the year: 
‘‘(A) Each individual who manages the fund, 
and who is responsible for exercising decision-mak-
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ing authority for the fund, is a citizen of the United 
States or is lawfully admitted for permanent resi-
dence in the United States. 
‘‘(B) No foreign national under section 319 
participates in any way in the decision-making proc-
esses of the fund with regard to contributions or ex-
penditures under this Act. 
‘‘(C) The fund does not solicit or accept rec-
ommendations from any foreign national under sec-
tion 319 with respect to the contributions or expend-
itures made by the fund. 
‘‘(D) Any member of the board of directors of 
the corporation who is a foreign national under sec-
tion 319 abstains from voting on matters concerning 
the fund or its activities.’’. 
Æ 
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