279 
communication, or in a crawl along the bot-
tom of the communication, in a clear and 
conspicuous manner, with a reasonable de-
gree of color contrast between the back-
ground and the printed statement, for a pe-
riod of at least 4 seconds. 
‘‘(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 communica-
tion. 
‘‘(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-RE-
LATED DISBURSEMENTS.—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 elec-
tion or defeat of a clearly identified candidate’’ and insert-
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ing ‘‘for a campaign-related disbursement, as defined in 
section 324, consisting of a public communication’’. 
(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 pro-
vided in subparagraph (B)) is paid for by a political 
committee (including a political committee of a polit-
ical 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 com-
munication paid for in whole or in part during a 
calendar year with a campaign-related disbursement, 
but only if the covered organization making the cam-
paign-related disbursement made campaign-related 
disbursements (as defined in section 324) aggregating 
more than $10,000 during such calendar year. 
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‘‘(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 covered 
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-related disbursements.’’. 
SEC. 4303. DISCLAIMER REQUIREMENTS FOR COMMUNICA-
TIONS MADE THROUGH PRERECORDED TELE-
PHONE CALLS. 
(a) APPLICATION OF REQUIREMENTS.— 
(1) IN GENERAL.—Section 318(a) of the Federal 
Election Campaign Act of 1971 (52 U.S.C. 30120(a)), 
as amended by section 4205(c), is amended by insert-
ing after ‘‘public communication’’ each place it ap-
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pears the following: ‘‘(including a telephone call con-
sisting in substantial part of a prerecorded audio 
message)’’. 
(2) APPLICATION TO COMMUNICATIONS SUBJECT 
TO EXPANDED DISCLAIMER REQUIREMENTS.—Section 
318(e)(1) of such Act (52 U.S.C. 30120(e)(1)), as 
added by section 4302(a), is amended in the matter 
preceding subparagraph (A) by striking ‘‘which is 
transmitted in an audio or video format’’ and insert-
ing ‘‘which is transmitted in an audio or video for-
mat or which consists of a telephone call consisting in 
substantial part of a prerecorded audio message’’. 
(b) TREATMENT AS COMMUNICATION TRANSMITTED IN 
AUDIO FORMAT.— 
(1) COMMUNICATIONS
BY
CANDIDATES
OR
AU-
THORIZED PERSONS.—Section 318(d) of such Act (52 
U.S.C. 30120(d)) is amended by adding at the end 
the following new paragraph: 
‘‘(3) PRERECORDED
TELEPHONE
CALLS.—Any 
communication described in paragraph (1), (2), or 
(3) of subsection (a) (other than a communication 
which is subject to subsection (e)) which is a telephone 
call consisting in substantial part of a prerecorded 
audio message shall include, in addition to the re-
quirements of such paragraph, the audio statement re-
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quired under subparagraph (A) of paragraph (1) or 
the audio statement required under paragraph (2) 
(whichever is applicable), except that the statement 
shall be made at the beginning of the telephone call.’’. 
(2) COMMUNICATIONS
SUBJECT
TO
EXPANDED 
DISCLAIMER
REQUIREMENTS.—Section 318(e)(3) of 
such Act (52 U.S.C. 30120(e)(3)), as added by section 
4302(a), is amended by adding at the end the fol-
lowing new subparagraph: 
‘‘(D) PRERECORDED TELEPHONE CALLS.— 
In the case of a communication to which this 
subsection applies which is a telephone call con-
sisting in substantial part of a prerecorded 
audio message, the communication shall be con-
sidered to be transmitted in an audio format.’’. 
SEC. 4304. NO EXPANSION OF PERSONS SUBJECT TO DIS-
CLAIMER REQUIREMENTS ON INTERNET COM-
MUNICATIONS. 
Nothing in this subtitle or the amendments made by 
this subtitle may be construed to require any person who 
is not required under section 318 of the Federal Election 
Campaign Act of 1971 (as provided under section 110.11 
of title 11 of the Code of Federal Regulations) to include 
a disclaimer on communications made by the person 
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through the internet to include any disclaimer on any such 
communications. 
SEC. 4305. EFFECTIVE DATE. 
The amendments made by this subtitle shall apply 
with respect to communications made on or after January 
1, 2020, and shall take effect without regard to whether or 
not the Federal Election Commission has promulgated regu-
lations to carry out such amendments. 
Subtitle E—[Reserved] 
Subtitle F—[Reserved] 
Subtitle G—[Reserved] 
Subtitle H—Limitation and Disclo-
sure 
Requirements 
for 
Presi-
dential Inaugural Committees 
SEC. 4701. SHORT TITLE. 
This subtitle may be cited as the ‘‘Presidential Inau-
gural Committee Oversight Act’’. 
SEC. 4702. LIMITATIONS AND DISCLOSURE OF CERTAIN DO-
NATIONS TO, AND DISBURSEMENTS BY, INAU-
GURAL COMMITTEES. 
(a) REQUIREMENTS FOR INAUGURAL COMMITTEES.— 
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: 
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tion shall be considered to be converted to personal 
use if any part of the donated amount is used to ful-
fill a commitment, obligation, or expense of a person 
that would exist irrespective of the responsibilities of 
the Inaugural Committee under chapter 5 of title 36, 
United States Code. 
‘‘(3) NO EFFECT ON DISBURSEMENT OF UNUSED 
FUNDS TO NONPROFIT ORGANIZATIONS.—Nothing in 
this subsection may be construed to prohibit an Inau-
gural Committee from disbursing unused funds to an 
organization which is described in section 501(c)(3) of 
the Internal Revenue Code of 1986 and is exempt 
from taxation under section 501(a) of such Code. 
‘‘(b) LIMITATION ON DONATIONS.— 
‘‘(1) IN GENERAL.—It shall be unlawful for an 
individual to make donations to an Inaugural Com-
mittee which, in the aggregate, exceed $50,000. 
‘‘(2) INDEXING.—At the beginning of each Presi-
dential election year (beginning with 2024), the 
amount described in paragraph (1) shall be increased 
by the cumulative percent difference determined in 
section 315(c)(1)(A) since the previous Presidential 
election year. If any amount after such increase is not 
a multiple of $1,000, such amount shall be rounded 
to the nearest multiple of $1,000. 
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‘‘(c) DISCLOSURE OF CERTAIN DONATIONS AND DIS-
BURSEMENTS.— 
‘‘(1) DONATIONS OVER $1,000.— 
‘‘(A) IN
GENERAL.—An Inaugural Com-
mittee shall file with the Commission a report 
disclosing any donation by an individual to the 
committee in an amount of $1,000 or more not 
later than 24 hours after the receipt of such do-
nation. 
‘‘(B) CONTENTS OF REPORT.—A report filed 
under subparagraph (A) shall contain— 
‘‘(i) the amount of the donation; 
‘‘(ii) the date the donation is received; 
and 
‘‘(iii) the name and address of the in-
dividual making the donation. 
‘‘(2) FINAL REPORT.—Not later than the date 
that is 90 days after the date of the Presidential in-
augural ceremony, the Inaugural Committee shall file 
with the Commission a report containing the fol-
lowing information: 
‘‘(A) For each donation of money or any-
thing of value made to the committee in an ag-
gregate amount equal to or greater than $200— 
‘‘(i) the amount of the donation; 
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‘‘(ii) the date the donation is received; 
and 
‘‘(iii) the name and address of the in-
dividual making the donation. 
‘‘(B) The total amount of all disbursements, 
and all disbursements in the following categories: 
‘‘(i) Disbursements made to meet com-
mittee operating expenses. 
‘‘(ii) Repayment of all loans. 
‘‘(iii) Donation refunds and other off-
sets to donations. 
‘‘(iv) Any other disbursements. 
‘‘(C) The name and address of each per-
son— 
‘‘(i) to whom a disbursement in an ag-
gregate amount or value in excess of $200 
is made by the committee to meet a com-
mittee operating expense, together with date, 
amount, and purpose of such operating ex-
pense; 
‘‘(ii) who receives a loan repayment 
from the committee, together with the date 
and amount of such loan repayment; 
‘‘(iii) who receives a donation refund 
or other offset to donations from the com-
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mittee, together with the date and amount 
of such disbursement; and 
‘‘(iv) to whom any other disbursement 
in an aggregate amount or value in excess 
of $200 is made by the committee, together 
with the date and amount of such disburse-
ment. 
‘‘(d) DEFINITIONS.—For purposes of this section: 
‘‘(1)(A) The term ‘donation’ includes— 
‘‘(i) any gift, subscription, loan, ad-
vance, or deposit of money or anything of 
value made by any person to the committee; 
or 
‘‘(ii) the payment by any person of 
compensation for the personal services of 
another person which are rendered to the 
committee without charge for any purpose. 
‘‘(B) The term ‘donation’ does not include 
the value of services provided without compensa-
tion by any individual who volunteers on behalf 
of the committee. 
‘‘(2) The term ‘foreign national’ has the meaning 
given that term by section 319(b). 
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‘‘(3) The term ‘Inaugural Committee’ has the 
meaning given that term by section 501 of title 36, 
United States Code.’’. 
(b) CONFIRMING AMENDMENT RELATED TO REPORT-
ING REQUIREMENTS.—Section 304 of the Federal Election 
Campaign Act of 1971 (52 U.S.C. 30104) is amended— 
(1) by striking subsection (h); and 
(2) by redesignating subsection (i) as subsection 
(h). 
(c) CONFORMING AMENDMENT RELATED TO STATUS 
OF COMMITTEE.—Section 510 of title 36, United States 
Code, is amended to read as follows: 
‘‘§ 510. Disclosure of and prohibition on certain dona-
tions 
‘‘A committee shall not be considered to be the Inau-
gural Committee for purposes of this chapter unless the 
committee agrees to, and meets, the requirements of section 
325 of the Federal Election Campaign Act of 1971.’’. 
(d) EFFECTIVE DATE.—The amendments made by this 
Act shall apply with respect to Inaugural Committees estab-
lished under chapter 5 of title 36, United States Code, for 
inaugurations held in 2021 and any succeeding year. 
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