I 
117TH CONGRESS 
1ST SESSION H. R. 2692 
To amend the Federal Election Campaign Act of 1971 to limit the authority 
of corporations to establish and operate separate segregated funds uti-
lized for political purposes, including the establishment or operation 
of a political committee, to nonprofit corporations, and for other pur-
poses. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 20, 2021 
Mr. HARDER of California (for himself and Mr. GOLDEN) introduced the 
following bill; which was referred to the Committee on House Administration 
A BILL 
To amend the Federal Election Campaign Act of 1971 to 
limit the authority of corporations to establish and oper-
ate separate segregated funds utilized for political pur-
poses, including the establishment or operation of a polit-
ical committee, to nonprofit corporations, 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 ‘‘Ban Corporate PACs 
Act’’. 
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SEC. 2. LIMITING AUTHORITY OF CORPORATIONS TO ES-
TABLISH 
OR 
OPERATE 
SEPARATE 
SEG-
REGATED FUNDS FOR POLITICAL PURPOSES 
TO NONPROFIT CORPORATIONS. 
(a) LIMITATION.— 
(1) IN GENERAL.—Section 316(b)(2)(C) of the 
Federal Election Campaign Act of 1971 (52 U.S.C. 
30118(b)(2)(C)) is amended by striking ‘‘a corpora-
tion’’ and inserting ‘‘a nonprofit corporation’’. 
(2) DEFINITION.—Section 316(b) of such Act 
(52 U.S.C. 30118(b)) is amended by adding at the 
end the following new paragraph: 
‘‘(8) For purposes of this section, the term ‘nonprofit 
corporation’ means a corporation described in section 
501(c) of the Internal Revenue Code of 1986 and exempt 
from taxation under section 501(a) of such Code, other 
than a corporation which is ineligible to be exempt from 
taxation under section 501(a) of such Code if it establishes 
a separate segregated fund under this subsection.’’. 
(b) PERMITTING SOLICITATION OF CONTRIBUTIONS 
ONLY FROM EXECUTIVE
AND ADMINISTRATIVE PER-
SONNEL.—Section 316(b) of such Act (52 U.S.C. 
30118(b)) is amended— 
(1) in paragraph (4)(A)(i), by striking ‘‘its 
stockholders and their families and’’; 
(2) in paragraph (4)(B)— 
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(A) by striking ‘‘a corporation’’ the first 
place it appears and inserting ‘‘a nonprofit cor-
poration’’; 
(B) by striking ‘‘any stockholder, executive 
or administrative personnel,’’ and inserting 
‘‘any executive or administrative personnel’’; 
and 
(C) by striking ‘‘stockholders, executive or 
administrative personnel,’’ and inserting ‘‘exec-
utive or administrative personnel’’; 
(3) in paragraph (4)(D)— 
(A) by striking ‘‘stockholders and’’; 
(B) by striking ‘‘such stockholders or per-
sonnel’’ and inserting ‘‘such personnel’’; and 
(C) by striking ‘‘such stockholders and 
personnel’’ and inserting ‘‘such personnel’’; and 
(4) in paragraph (5), by striking ‘‘stockholders 
and’’. 
(c) TREATMENT OF GOVERNMENT CONTRACTORS.— 
Section 317(b) of such Act (52 U.S.C. 30119(b)) is 
amended— 
(1) by striking ‘‘any corporation’’ and inserting 
‘‘any nonprofit corporation’’; and 
(2) by striking ‘‘a corporation’’ and inserting ‘‘a 
nonprofit corporation’’. 
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SEC. 3. EFFECTIVE DATE; TRANSITION FOR EXISTING 
FUNDS AND COMMITTEES. 
(a) EFFECTIVE DATE.—The amendments made by 
this Act shall take effect on the date of the enactment 
of this Act. 
(b) TRANSITION FOR EXISTING FUNDS AND COMMIT-
TEES.—In the case of a separate segregate fund estab-
lished and operating under section 316(b)(2)(C) of the 
Federal Election Campaign Act of 1971 (52 U.S.C. 
30118(b)(2)(C)) as of the date of the enactment of this 
Act which is not a fund of a nonprofit corporation as de-
fined in section 316(b)(8) of such Act (as added by section 
2(a)(2)), the fund shall terminate and disburse its entire 
balance not later than 1 year after the date of the enact-
ment of this Act. 
Æ 
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