I 
117TH CONGRESS 
1ST SESSION H. R. 1334 
To amend the Federal Election Campaign Act of 1971 to provide for addi-
tional disclosure requirements for corporations, labor organizations, 
Super PACs and other entities, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 25, 2021 
Mr. CICILLINE (for himself, Mr. AGUILAR, Mr. ALLRED, Mrs. AXNE, Ms. 
BARRAGA´N, Ms. BASS, Mrs. BEATTY, Mr. BERA, Mr. BEYER, Mr. BLU-
MENAUER, Ms. BLUNT ROCHESTER, Ms. BONAMICI, Mr. BRENDAN F. 
BOYLE of Pennsylvania, Ms. BROWNLEY, Mr. CARBAJAL, Mr. CARSON, 
Mr. CASE, Mr. CASTEN, Ms. CASTOR of Florida, Ms. CLARK of Massa-
chusetts, Ms. CLARKE of New York, Mr. COHEN, Mr. CONNOLLY, Mr. 
COOPER, Mr. COURTNEY, Mr. CRIST, Mr. CROW, Ms. DAVIDS of Kansas, 
Mr. DANNY K. DAVIS of Illinois, Ms. DEAN, Mr. DEFAZIO, Ms. 
DEGETTE, Ms. DELBENE, Mr. DELGADO, Mrs. DEMINGS, Mr. DEUTCH, 
Mrs. DINGELL, Mr. MICHAEL F. DOYLE of Pennsylvania, Ms. ESCOBAR, 
Ms. ESHOO, Mr. ESPAILLAT, Mr. EVANS, Mr. FOSTER, Mr. GALLEGO, 
Mr. GARAMENDI, Ms. GARCIA of Texas, Mr. GARCI´A of Illinois, Mr. 
GOLDEN, Mr. GOMEZ, Mr. GRIJALVA, Ms. HAALAND, Mr. HASTINGS, 
Mrs. HAYES, Mr. HIGGINS of New York, Mr. HIMES, Ms. HOULAHAN, 
Mr. HUFFMAN, Ms. JACKSON LEE, Ms. JACOBS of California, Ms. 
JAYAPAL, Mr. JEFFRIES, Mr. JOHNSON of Georgia, Mr. KAHELE, Ms. 
KAPTUR, Ms. KELLY of Illinois, Mr. KHANNA, Mr. KILDEE, Mr. KILMER, 
Mr. KIM of New Jersey, Mr. KIND, Mr. KRISHNAMOORTHI, Ms. KUSTER, 
Mr. LAMB, Mr. LANGEVIN, Mr. LARSEN of Washington, Mr. LARSON of 
Connecticut, Mrs. LAWRENCE, Mr. LAWSON of Florida, Ms. LEE of Cali-
fornia, Ms. LEGER FERNANDEZ, Mr. LEVIN of Michigan, Mr. LIEU, Ms. 
LOFGREN, Mr. LOWENTHAL, Mr. LYNCH, Mr. MALINOWSKI, Mrs. CARO-
LYN B. MALONEY of New York, Ms. MANNING, Ms. MATSUI, Ms. 
MCCOLLUM, Mr. MCGOVERN, Mr. MCNERNEY, Mr. MEEKS, Ms. MENG, 
Mr. MORELLE, Mr. MOULTON, Mrs. MURPHY of Florida, Mr. NADLER, 
Mrs. NAPOLITANO, Mr. NEGUSE, Ms. NORTON, Mr. O’HALLERAN, Ms. 
OMAR, Mr. PALLONE, Mr. PANETTA, Mr. PAPPAS, Mr. PASCRELL, Mr. 
PETERS, Mr. PHILLIPS, Ms. PORTER, Mr. PRICE of North Carolina, Mr. 
QUIGLEY, Mr. RASKIN, Miss RICE of New York, Mr. RUIZ, Mr. RUSH, 
Mr. SAN NICOLAS, Ms. SA´NCHEZ, Mr. SARBANES, Ms. SCANLON, Ms. 
SCHAKOWSKY, Mr. SCHIFF, Mr. SCHNEIDER, Ms. SCHRIER, Mr. DAVID 
SCOTT of Georgia, Mr. SCOTT of Virginia, Ms. SEWELL, Ms. SLOTKIN, 
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Mr. SOTO, Ms. SPEIER, Mr. STANTON, Ms. STEVENS, Mr. SUOZZI, Mr. 
TAKANO, Mr. THOMPSON of California, Ms. TITUS, Ms. TLAIB, Mr. 
TONKO, Mrs. TORRES of California, Mr. TORRES of New York, Mrs. 
TRAHAN, Mr. TRONE, Ms. UNDERWOOD, Mr. VARGAS, Mr. VEASEY, Ms. 
VELA´ZQUEZ, Ms. WASSERMAN SCHULTZ, Mrs. WATSON COLEMAN, Mr. 
WELCH, and Mr. YARMUTH) introduced the following bill; which was re-
ferred to the Committee on House Administration, and in addition to the 
Committees on Ways and Means, and the Judiciary, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
of such provisions as fall within the jurisdiction of the committee con-
cerned 
A BILL 
To amend the Federal Election Campaign Act of 1971 to 
provide for additional disclosure requirements for cor-
porations, labor organizations, Super PACs and other 
entities, 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; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Democracy Is Strengthened by Casting Light On Spend-
ing in Elections Act of 2021’’ or the ‘‘DISCLOSE Act 
of 2021’’. 
(b) TABLE OF CONTENTS.—The table of contents of 
this Act is as follows: 
Sec. 1. Short title; table of contents. 
TITLE I—CLOSING LOOPHOLES ALLOWING SPENDING BY 
FOREIGN NATIONALS IN ELECTIONS 
Sec. 101. Clarification of prohibition on participation by foreign nationals in 
election-related activities. 
Sec. 102. Clarification of application of foreign money ban to certain disburse-
ments and activities. 
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Sec. 103. Audit and report on illicit foreign money in Federal elections. 
Sec. 104. Prohibition on contributions and donations by foreign nationals in 
connections with ballot initiatives and referenda. 
Sec. 105. Disbursements and activities subject to foreign money ban. 
Sec. 106. Prohibiting establishment of corporation to conceal election contribu-
tions and donations by foreign nationals. 
TITLE II—REPORTING OF CAMPAIGN-RELATED DISBURSEMENTS 
Sec. 201. Reporting of campaign-related disbursements. 
Sec. 202. Application of foreign money ban to disbursements for campaign-re-
lated disbursements consisting of covered transfers. 
Sec. 203. Effective date. 
TITLE III—STAND BY EVERY AD 
Sec. 301. Short title. 
Sec. 302. Stand By Every Ad. 
Sec. 303. Disclaimer 
requirements 
for 
communications 
made 
through 
prerecorded telephone calls. 
Sec. 304. No expansion of persons subject to disclaimer requirements on inter-
net communications. 
Sec. 305. Effective date. 
TITLE IV—OTHER ADMINISTRATIVE REFORMS 
Sec. 401. Petition for certiorari. 
Sec. 402. Judicial review of actions related to campaign finance laws. 
TITLE V—OTHER PROVISIONS 
Sec. 501. Severability. 
TITLE I—CLOSING LOOPHOLES 
ALLOWING 
SPENDING 
BY 
FOREIGN 
NATIONALS 
IN 
ELECTIONS 
SEC. 101. CLARIFICATION OF PROHIBITION ON PARTICIPA-
TION BY FOREIGN NATIONALS IN ELECTION- 
RELATED ACTIVITIES. 
(a) 
CLARIFICATION
OF
PROHIBITION.—Section 
319(a) of the Federal Election Campaign Act of 1971 (52 
U.S.C. 30121(a)) is amended— 
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(1) by striking ‘‘or’’ at the end of paragraph 
(1); 
(2) by striking the period at the end of para-
graph (2) and inserting ‘‘; or’’; and 
(3) by adding at the end the following new 
paragraph: 
‘‘(3) a foreign national to direct, dictate, con-
trol, or directly or indirectly participate in the deci-
sion making process of any person (including a cor-
poration, labor organization, political committee, or 
political organization) with regard to such person’s 
Federal or non-Federal election-related activity, in-
cluding any decision concerning the making of con-
tributions, donations, expenditures, or disbursements 
in connection with an election for any Federal, 
State, or local office or any decision concerning the 
administration of a political committee.’’. 
(b) CERTIFICATION OF COMPLIANCE.—Section 319 
of such Act (52 U.S.C. 30121) is amended by adding at 
the end the following new subsection: 
‘‘(c) CERTIFICATION
OF COMPLIANCE REQUIRED 
PRIOR TO CARRYING OUT ACTIVITY.—Prior to the mak-
ing in connection with an election for Federal office of any 
contribution, donation, expenditure, independent expendi-
ture, or disbursement for an electioneering communication 
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SEC. 102. CLARIFICATION OF APPLICATION OF FOREIGN 
MONEY BAN TO CERTAIN DISBURSEMENTS 
AND ACTIVITIES. 
(a) APPLICATION
TO DISBURSEMENTS
TO SUPER 
PACS AND OTHER PERSONS.—Section 319(b) of the Fed-
eral Election Campaign Act of 1971 (52 U.S.C. 30121(b)) 
is amended— 
(1) by redesignating paragraphs (1) and (2) as 
subparagraphs (A) and (B), respectively, and by 
moving such subparagraphs 2 ems to the right; 
(2) by striking ‘‘As used in this section’’ and in-
serting the following: ‘‘DEFINITIONS.—For purposes 
of this section— 
‘‘(1) FOREIGN NATIONAL.—The term’’; and 
(3) by adding at the end the following new 
paragraph: 
‘‘(2) CONTRIBUTION AND DONATION.—For pur-
poses of paragraphs (1) and (2) of subsection (a), 
the term ‘contribution or donation’ includes any dis-
bursement to a political committee which accepts do-
nations or contributions that do not comply with any 
of the limitations, prohibitions, and reporting re-
quirements of this Act (or any disbursement to or on 
behalf of any account of a political committee which 
is established for the purpose of accepting such do-
nations or contributions), or to any other person for 
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the purpose of funding an expenditure, independent 
expenditure, or electioneering communication (as de-
fined in section 304(f)(3)).’’. 
(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 
the following during the year: 
‘‘(A) Each individual who manages the fund, 
and who is responsible for exercising decisionmaking 
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 decisionmaking 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. 
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‘‘(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.’’. 
SEC. 103. AUDIT AND REPORT ON ILLICIT FOREIGN MONEY 
IN FEDERAL ELECTIONS. 
(a) IN GENERAL.—Title III of the Federal Election 
Campaign Act of 1971 (52 U.S.C. 30101 et seq.) is 
amended by inserting after section 319 the following new 
section: 
‘‘SEC. 319A. AUDIT AND REPORT ON DISBURSEMENTS BY 
FOREIGN NATIONALS. 
‘‘(a) AUDIT.— 
‘‘(1) IN GENERAL.—The Commission shall con-
duct an audit after each Federal election cycle to de-
termine the incidence of illicit foreign money in such 
Federal election cycle. 
‘‘(2) PROCEDURES.—In carrying out paragraph 
(1), the Commission shall conduct random audits of 
any disbursements required to be reported under 
this Act, in accordance with procedures established 
by the Commission. 
‘‘(b) REPORT.—Not later than 180 days after the end 
of each Federal election cycle, the Commission shall sub-
mit to Congress a report containing— 
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‘‘(1) results of the audit required by subsection 
(a)(1); 
‘‘(2) an analysis of the extent to which illicit 
foreign money was used to carry out disinformation 
and propaganda campaigns focused on depressing 
turnout among rural communities and the success or 
failure of these efforts, together with recommenda-
tions to address these efforts in future elections; 
‘‘(3) an analysis of the extent to which illicit 
foreign money was used to carry out disinformation 
and propaganda campaigns focused on depressing 
turnout among African-American and other minority 
communities and the success or failure of these ef-
forts, together with recommendations to address 
these efforts in future elections; 
‘‘(4) an analysis of the extent to which illicit 
foreign money was used to carry out disinformation 
and propaganda campaigns focused on influencing 
military and veteran communities and the success or 
failure of these efforts, together with recommenda-
tions to address these efforts in future elections; and 
‘‘(5) recommendations to address the presence 
of illicit foreign money in elections, as appropriate. 
‘‘(c) DEFINITIONS.—As used in this section: 
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‘‘(1) The term ‘Federal election cycle’ means 
the period which begins on the day after the date of 
a regularly scheduled general election for Federal of-
fice and which ends on the date of the first regularly 
scheduled general election for Federal office held 
after such date. 
‘‘(2) The term ‘illicit foreign money’ means any 
disbursement by a foreign national (as defined in 
section 319(b)) prohibited under such section.’’. 
(b) EFFECTIVE DATE.—The amendment made by 
subsection (a) shall apply with respect to the Federal elec-
tion cycle that began during November 2020, and each 
succeeding Federal election cycle. 
SEC. 104. PROHIBITION ON CONTRIBUTIONS AND DONA-
TIONS BY FOREIGN NATIONALS IN CONNEC-
TIONS 
WITH 
BALLOT 
INITIATIVES 
AND 
REFERENDA. 
(a) IN GENERAL.—Section 319(b) of the Federal 
Election Campaign Act of 1971 (52 U.S.C. 30121(b)), as 
amended by section 102(a), is amended by adding at the 
end the following new paragraph: 
‘‘(3) FEDERAL, STATE, OR LOCAL ELECTION.— 
The term ‘Federal, State, or local election’ includes 
a State or local ballot initiative or referendum.’’. 
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(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply with respect to elections held in 
2022 or any succeeding year. 
SEC. 105. DISBURSEMENTS AND ACTIVITIES SUBJECT TO 
FOREIGN MONEY BAN. 
(a) 
DISBURSEMENTS
DESCRIBED.—Section 
319(a)(1) of the Federal Election Campaign Act of 1971 
(52 U.S.C. 30121(a)(1)) is amended— 
(1) by striking ‘‘or’’ at the end of subparagraph 
(B); and 
(2) by striking subparagraph (C) and inserting 
the following: 
‘‘(C) an expenditure; 
‘‘(D) an independent expenditure; 
‘‘(E) a disbursement for an electioneering 
communication (within the meaning of section 
304(f)(3)); 
‘‘(F) a disbursement for a communication 
which is placed or promoted for a fee on a 
website, web application, or digital application 
that refers to a clearly identified candidate for 
election for Federal office and is disseminated 
within 60 days before a general, special or run-
off election for the office sought by the can-
didate or 30 days before a primary or pref-
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erence election, or a convention or caucus of a 
political party that has authority to nominate a 
candidate for the office sought by the can-
didate; 
‘‘(G) a disbursement for a broadcast, cable 
or satellite communication, or for a communica-
tion which is placed or promoted for a fee on 
a website, web application, or digital applica-
tion, that promotes, supports, attacks or op-
poses the election of a clearly identified can-
didate for Federal, State, or local office (re-
gardless of whether the communication contains 
express advocacy or the functional equivalent of 
express advocacy); 
‘‘(H) a disbursement for a broadcast, 
cable, or satellite communication, or for any 
communication which is placed or promoted for 
a fee on an online platform, that discusses a 
national legislative issue of public importance in 
a year in which a regularly scheduled general 
election for Federal office is held, but only if 
the disbursement is made by a foreign principal 
who is a government of a foreign country or a 
foreign political party or an agent of such a for-
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eign principal under the Foreign Agents Reg-
istration Act of 1938, as amended; 
‘‘(I) a disbursement by a foreign principal 
who is a government of a foreign country or a 
foreign political party, or an agent of such a 
foreign principal under the Foreign Agents 
Registration Act of 1938, as amended, to com-
pensate any person for internet activity that 
promotes, supports, attacks or opposes the elec-
tion of a clearly identified candidate for Fed-
eral, State, or local office (regardless of whether 
the activity contains express advocacy or the 
functional equivalent of express advocacy); 
‘‘(J) a disbursement for a Federal judicial 
nomination communication (as defined in sec-
tion 324(d)(3)).’’. 
(b) ONLINE PLATFORM.—Section 319(b) of such Act 
(51 U.S.C. 30121(b)), as amended by sections 102(a) and 
104, is amended by adding at the end the following new 
paragraph: 
‘‘(4) ONLINE PLATFORM.— 
‘‘(A) IN GENERAL.—The term ‘online plat-
form’ means any public-facing website, web ap-
plication, or digital application (including a so-
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cial network, ad network, or search engine) 
which— 
‘‘(i) sells qualified political advertise-
ments; and 
‘‘(ii) has 50,000,000 or more unique 
monthly United States visitors or users for 
a majority of months during the preceding 
12 months. 
‘‘(B) QUALIFIED
POLITICAL
ADVERTISE-
MENT.—The term ‘qualified political advertise-
ment’ means any advertisement (including 
search engine marketing, display advertise-
ments, video advertisements, native advertise-
ments, and sponsorships) that— 
‘‘(i) is made by or on behalf of a can-
didate; or 
‘‘(ii) communicates a message relating 
to any political matter of national impor-
tance, including— 
‘‘(I) a candidate; 
‘‘(II) any election to Federal of-
fice; or 
‘‘(III) a national legislative issue 
of public importance.’’. 
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(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply with respect to disbursements 
made on or after the date of the enactment of this Act. 
SEC. 106. PROHIBITING ESTABLISHMENT OF CORPORATION 
TO 
CONCEAL 
ELECTION 
CONTRIBUTIONS 
AND DONATIONS BY FOREIGN NATIONALS. 
(a) PROHIBITION.—Chapter 29 of title 18, United 
States Code, is amended by adding at the end the fol-
lowing: 
‘‘§ 612. Establishment of corporation to conceal elec-
tion contributions and donations by for-
eign nationals 
‘‘(a) OFFENSE.—It shall be unlawful for an owner, 
officer, attorney, or incorporation agent of a corporation, 
company, or other entity to establish or use the corpora-
tion, company, or other entity with the intent to conceal 
an activity of a foreign national (as defined in section 319 
of the Federal Election Campaign Act of 1971 (52 U.S.C. 
30121)) prohibited under such section 319. 
‘‘(b) PENALTY.—Any person who violates subsection 
(a) shall be imprisoned for not more than 5 years, fined 
under this title, or both.’’. 
(b) TABLE OF SECTIONS.—The table of sections for 
chapter 29 of title 18, United States Code, is amended 
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by inserting after the item relating to section 611 the fol-
lowing: 
‘‘612. Establishment of corporation to conceal election contributions and dona-
tions by foreign nationals.’’. 
TITLE II—REPORTING OF CAM-
PAIGN-RELATED 
DISBURSE-
MENTS 
SEC. 201. REPORTING OF CAMPAIGN-RELATED DISBURSE-
MENTS. 
(a) DISCLOSURE REQUIREMENTS
FOR CORPORA-
TIONS, LABOR ORGANIZATIONS, AND CERTAIN OTHER 
ENTITIES.— 
(1) IN GENERAL.—Section 324 of the Federal 
Election Campaign Act of 1971 (52 U.S.C. 30126) 
is amended to read as follows: 
‘‘SEC. 324. DISCLOSURE OF CAMPAIGN-RELATED DISBURSE-
MENTS BY COVERED ORGANIZATIONS. 
‘‘(a) DISCLOSURE STATEMENT.— 
‘‘(1) IN GENERAL.—Any covered organization 
that makes campaign-related disbursements aggre-
gating more than $10,000 in an election reporting 
cycle shall, not later than 24 hours after each disclo-
sure date, file a statement with the Commission 
made under penalty of perjury that contains the in-
formation described in paragraph (2)— 
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‘‘(A) in the case of the first statement filed 
under this subsection, for the period beginning 
on the first day of the election reporting cycle 
(or, if earlier, the period beginning one year be-
fore the first such disclosure date) and ending 
on the first such disclosure date; and 
‘‘(B) in the case of any subsequent state-
ment filed under this subsection, for the period 
beginning on the previous disclosure date and 
ending on such disclosure date. 
‘‘(2) INFORMATION DESCRIBED.—The informa-
tion described in this paragraph is as follows: 
‘‘(A) The name of the covered organization 
and the principal place of business of such or-
ganization and, in the case of a covered organi-
zation that is a corporation (other than a busi-
ness concern that is an issuer of a class of secu-
rities registered under section 12 of the Securi-
ties Exchange Act of 1934 (15 U.S.C. 78l) or 
that is required to file reports under section 
15(d) of that Act (15 U.S.C. 78o(d))) or an en-
tity described in subsection (e)(2), a list of the 
beneficial owners (as defined in paragraph 
(4)(A)) of the entity that— 
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‘‘(D) A certification by the chief executive 
officer or person who is the head of the covered 
organization that the campaign-related dis-
bursement is not made in cooperation, consulta-
tion, or concert with or at the request or sug-
gestion of a candidate, authorized committee, or 
agent of a candidate, political party, or agent of 
a political party. 
‘‘(E)(i) If the covered organization makes 
campaign-related disbursements using exclu-
sively funds in a segregated bank account con-
sisting of funds that were paid directly to such 
account by persons other than the covered orga-
nization that controls the account, for each 
such payment to the account— 
‘‘(I) the name and address of each 
person who made such payment during the 
period covered by the statement; 
‘‘(II) the date and amount of such 
payment; and 
‘‘(III) the aggregate amount of all 
such payments made by the person during 
the period beginning on the first day of the 
election reporting cycle (or, if earlier, the 
period beginning one year before the dis-
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closure date) and ending on the disclosure 
date, 
but only if such payment was made by a person 
who made payments to the account in an aggre-
gate amount of $10,000 or more during the pe-
riod beginning on the first day of the election 
reporting cycle (or, if earlier, the period begin-
ning one year before the disclosure date) and 
ending on the disclosure date. 
‘‘(ii) In any calendar year after 2022, sec-
tion 315(c)(1)(B) shall apply to the amount de-
scribed in clause (i) in the same manner as 
such section applies to the limitations estab-
lished under subsections (a)(1)(A), (a)(1)(B), 
(a)(3), and (h) of such section, except that for 
purposes of applying such section to the 
amounts described in subsection (b), the ‘base 
period’ shall be calendar year 2022. 
‘‘(F)(i) If the covered organization makes 
campaign-related disbursements using funds 
other than funds in a segregated bank account 
described in subparagraph (E), for each pay-
ment to the covered organization— 
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‘‘(I) the name and address of each 
person who made such payment during the 
period covered by the statement; 
‘‘(II) the date and amount of such 
payment; and 
‘‘(III) the aggregate amount of all 
such payments made by the person during 
the period beginning on the first day of the 
election reporting cycle (or, if earlier, the 
period beginning one year before the dis-
closure date) and ending on the disclosure 
date, 
but only if such payment was made by a person 
who made payments to the covered organization 
in an aggregate amount of $10,000 or more 
during the period beginning on the first day of 
the election reporting cycle (or, if earlier, the 
period beginning one year before the disclosure 
date) and ending on the disclosure date. 
‘‘(ii) In any calendar year after 2022, sec-
tion 315(c)(1)(B) shall apply to the amount de-
scribed in clause (i) in the same manner as 
such section applies to the limitations estab-
lished under subsections (a)(1)(A), (a)(1)(B), 
(a)(3), and (h) of such section, except that for 
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purposes of applying such section to the 
amounts described in subsection (b), the ‘base 
period’ shall be calendar year 2022. 
‘‘(G) Such other information as required in 
rules established by the Commission to promote 
the purposes of this section. 
‘‘(3) EXCEPTIONS.— 
‘‘(A) AMOUNTS
RECEIVED
IN
ORDINARY 
COURSE OF BUSINESS.—The requirement to in-
clude in a statement filed under paragraph (1) 
the information described in paragraph (2) 
shall not apply to amounts received by the cov-
ered organization in commercial transactions in 
the ordinary course of any trade or business 
conducted by the covered organization or in the 
form of investments (other than investments by 
the principal shareholder in a limited liability 
corporation) in the covered organization. For 
purposes of this subparagraph, amounts re-
ceived by a covered organization as remittances 
from an employee to the employee’s collective 
bargaining representative shall be treated as 
amounts received in commercial transactions in 
the ordinary course of the business conducted 
by the covered organization. 
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‘‘(B) DONOR
RESTRICTION
ON
USE
OF 
FUNDS.—The requirement to include in a state-
ment submitted under paragraph (1) the infor-
mation described in subparagraph (F) of para-
graph (2) shall not apply if— 
‘‘(i) the person described in such sub-
paragraph prohibited, in writing, the use of 
the payment made by such person for cam-
paign-related disbursements; and 
‘‘(ii) the covered organization agreed 
to follow the prohibition and deposited the 
payment in an account which is segregated 
from any account used to make campaign- 
related disbursements. 
‘‘(C) THREAT
OF
HARASSMENT
OR
RE-
PRISAL.—The requirement to include any infor-
mation relating to the name or address of any 
person (other than a candidate) in a statement 
submitted under paragraph (1) shall not apply 
if the inclusion of the information would subject 
the person to serious threats, harassment, or 
reprisals. 
‘‘(4) OTHER
DEFINITIONS.—For purposes of 
this section: 
‘‘(A) BENEFICIAL OWNER DEFINED.— 
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‘‘(i) IN
GENERAL.—Except as pro-
vided in clause (ii), the term ‘beneficial 
owner’ means, with respect to any entity, 
a natural person who, directly or indi-
rectly— 
‘‘(I) exercises substantial control 
over an entity through ownership, vot-
ing rights, agreement, or otherwise; or 
‘‘(II) has a substantial interest in 
or receives substantial economic bene-
fits from the assets of an entity. 
‘‘(ii) EXCEPTIONS.—The term ‘bene-
ficial owner’ shall not include— 
‘‘(I) a minor child; 
‘‘(II) a person acting as a nomi-
nee, intermediary, custodian, or agent 
on behalf of another person; 
‘‘(III) a person acting solely as 
an employee of an entity and whose 
control over or economic benefits from 
the entity derives solely from the em-
ployment status of the person; 
‘‘(IV) a person whose only inter-
est in an entity is through a right of 
inheritance, unless the person also 
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meets the requirements of clause (i); 
or 
‘‘(V) a creditor of an entity, un-
less the creditor also meets the re-
quirements of clause (i). 
‘‘(iii) ANTI-ABUSE RULE.—The excep-
tions under clause (ii) shall not apply if 
used for the purpose of evading, circum-
venting, or abusing the provisions of clause 
(i) or paragraph (2)(A). 
‘‘(B) DISCLOSURE DATE.—The term ‘dis-
closure date’ means— 
‘‘(i) the first date during any election 
reporting cycle by which a person has 
made campaign-related disbursements ag-
gregating more than $10,000; and 
‘‘(ii) any other date during such elec-
tion reporting cycle by which a person has 
made campaign-related disbursements ag-
gregating more than $10,000 since the 
most recent disclosure date for such elec-
tion reporting cycle. 
‘‘(C) ELECTION REPORTING CYCLE.—The 
term ‘election reporting cycle’ means the 2-year 
period beginning on the date of the most recent 
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general election for Federal office, except that 
in the case of a campaign-related disbursement 
for a Federal judicial nomination communica-
tion, such term means any calendar year in 
which the campaign-related disbursement is 
made. 
‘‘(D) PAYMENT.—The term ‘payment’ in-
cludes any contribution, donation, transfer, pay-
ment of dues, or other payment. 
‘‘(b) COORDINATION WITH OTHER PROVISIONS.— 
‘‘(1) OTHER REPORTS FILED WITH THE COM-
MISSION.—Information included in a statement filed 
under this section may be excluded from statements 
and reports filed under section 304. 
‘‘(2) TREATMENT AS SEPARATE SEGREGATED 
FUND.—A segregated bank account referred to in 
subsection (a)(2)(E) may be treated as a separate 
segregated fund for purposes of section 527(f)(3) of 
the Internal Revenue Code of 1986. 
‘‘(c) FILING.—Statements required to be filed under 
subsection (a) shall be subject to the requirements of sec-
tion 304(d) to the same extent and in the same manner 
as if such reports had been required under subsection (c) 
or (g) of section 304. 
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‘‘(d) 
CAMPAIGN-RELATED
DISBURSEMENT
DE-
FINED.— 
‘‘(1) IN GENERAL.—In this section, the term 
‘campaign-related disbursement’ means a disburse-
ment by a covered organization for any of the fol-
lowing: 
‘‘(A) An independent expenditure which ex-
pressly advocates the election or defeat of a 
clearly identified candidate for election for Fed-
eral office, or is the functional equivalent of ex-
press advocacy because, when taken as a whole, 
it can be interpreted by a reasonable person 
only as advocating the election or defeat of a 
candidate for election for Federal office. 
‘‘(B) An applicable public communication. 
‘‘(C) An electioneering communication, as 
defined in section 304(f)(3). 
‘‘(D) A Federal judicial nomination com-
munication. 
‘‘(E) A covered transfer. 
‘‘(2) APPLICABLE PUBLIC COMMUNICATIONS.— 
‘‘(A) IN GENERAL.—The term ‘applicable 
public communication’ means any public com-
munication that refers to a clearly identified 
candidate for election for Federal office and 
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which promotes or supports the election of a 
candidate for that office, or attacks or opposes 
the election of a candidate for that office, with-
out regard to whether the communication ex-
pressly advocates a vote for or against a can-
didate for that office. 
‘‘(B) EXCEPTION.—Such term shall not in-
clude any news story, commentary, or editorial 
distributed through the facilities of any broad-
casting station or any print, online, or digital 
newspaper, magazine, publication, or periodical, 
unless such facilities are owned or controlled by 
any political party, political committee, or can-
didate. 
‘‘(3) FEDERAL JUDICIAL NOMINATION COMMU-
NICATION.— 
‘‘(A) IN GENERAL.—The term ‘Federal ju-
dicial nomination communication’ means any 
communication— 
‘‘(i) that is by means of any paid 
broadcast, cable, or satellite, paid internet, 
or paid digital communication, paid pro-
motion, newspaper, magazine, outdoor ad-
vertising facility, mass mailing, telephone 
bank, telephone messaging effort of more 
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than 500 substantially similar calls or elec-
tronic messages within a 30-day period, or 
any other form of general public political 
advertising; and 
‘‘(ii) that is susceptible to no reason-
able interpretation other than promoting, 
supporting, attacking, or opposing the 
nomination or Senate confirmation of an 
individual as a Federal judge or justice. 
‘‘(B) EXCEPTION.—Such term shall not in-
clude any news story, commentary, or editorial 
distributed through the facilities of any broad-
casting station or any print, online, or digital 
newspaper, magazine, publication, or periodical, 
unless such facilities are owned or controlled by 
any political party, political committee, or can-
didate. 
‘‘(4) INTENT NOT REQUIRED.—A disbursement 
for an item described in subparagraph (A), (B), (C), 
(D), or (E) of paragraph (1) shall be treated as a 
campaign-related disbursement regardless of the in-
tent of the person making the disbursement. 
‘‘(e) COVERED ORGANIZATION DEFINED.—In this 
section, the term ‘covered organization’ means any of the 
following: 
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‘‘(1) A corporation (other than an organization 
described in section 501(c)(3) of the Internal Rev-
enue Code of 1986). 
‘‘(2) A limited liability corporation that is not 
otherwise treated as a corporation for purposes of 
this Act (other than an organization described in 
section 501(c)(3) of the Internal Revenue Code of 
1986). 
‘‘(3) An organization described in section 
501(c) of such Code and exempt from taxation 
under section 501(a) of such Code (other than an 
organization described in section 501(c)(3) of such 
Code). 
‘‘(4) A labor organization (as defined in section 
316(b)). 
‘‘(5) Any political organization under section 
527 of the Internal Revenue Code of 1986, other 
than a political committee under this Act (except as 
provided in paragraph (6)). 
‘‘(6) A political committee with an account that 
accepts donations or contributions that do not com-
ply with the contribution limits or source prohibi-
tions under this Act, but only with respect to such 
accounts. 
‘‘(f) COVERED TRANSFER DEFINED.— 
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‘‘(1) IN GENERAL.—In this section, the term 
‘covered transfer’ means any transfer or payment of 
funds by a covered organization to another person if 
the covered organization— 
‘‘(A) designates, requests, or suggests that 
the amounts be used for— 
‘‘(i) campaign-related disbursements 
(other than covered transfers); or 
‘‘(ii) making a transfer to another 
person for the purpose of making or pay-
ing for such campaign-related disburse-
ments; 
‘‘(B) made such transfer or payment in re-
sponse to a solicitation or other request for a 
donation or payment for— 
‘‘(i) the making of or paying for cam-
paign-related disbursements (other than 
covered transfers); or 
‘‘(ii) making a transfer to another 
person for the purpose of making or pay-
ing for such campaign-related disburse-
ments; 
‘‘(C) engaged in discussions with the re-
cipient of the transfer or payment regarding— 
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‘‘(i) the making of or paying for cam-
paign-related disbursements (other than 
covered transfers); or 
‘‘(ii) donating or transferring any 
amount of such transfer or payment to an-
other person for the purpose of making or 
paying for such campaign-related disburse-
ments; 
‘‘(D) made campaign-related disburse-
ments (other than a covered transfer) in an ag-
gregate amount of $50,000 or more during the 
2-year period ending on the date of the transfer 
or payment, or knew or had reason to know 
that the person receiving the transfer or pay-
ment made such disbursements in such an ag-
gregate amount during that 2-year period; or 
‘‘(E) knew or had reason to know that the 
person receiving the transfer or payment would 
make campaign-related disbursements in an ag-
gregate amount of $50,000 or more during the 
2-year period beginning on the date of the 
transfer or payment. 
‘‘(2) EXCLUSIONS.—The term ‘covered transfer’ 
does not include any of the following: 
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amount only if the aggregate amount trans-
ferred during the year by such covered organi-
zation to that same covered organization is 
equal to or greater than $50,000. 
‘‘(B) DETERMINATION
OF
AMOUNT
OF 
CERTAIN
PAYMENTS
AMONG
AFFILIATES.—In 
determining the amount of a transfer between 
affiliates for purposes of subparagraph (A), to 
the extent that the transfer consists of funds 
attributable to dues, fees, or assessments which 
are paid by individuals on a regular, periodic 
basis in accordance with a per-individual cal-
culation which is made on a regular basis, the 
transfer shall be attributed to the individuals 
paying the dues, fees, or assessments and shall 
not be attributed to the covered organization. 
‘‘(C) DESCRIPTION
OF
TRANSFERS
BE-
TWEEN
AFFILIATES.—A transfer of amounts 
from one covered organization to another cov-
ered organization shall be treated as a transfer 
between affiliates if— 
‘‘(i) one of the organizations is an af-
filiate of the other organization; or 
‘‘(ii) each of the organizations is an 
affiliate of the same organization, 
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except that the transfer shall not be treated as 
a transfer between affiliates if one of the orga-
nizations is established for the purpose of mak-
ing campaign-related disbursements. 
‘‘(D) DETERMINATION OF AFFILIATE STA-
TUS.—For purposes of subparagraph (C), a 
covered organization is an affiliate of another 
covered organization if— 
‘‘(i) the governing instrument of the 
organization requires it to be bound by de-
cisions of the other organization; 
‘‘(ii) the governing board of the orga-
nization includes persons who are specifi-
cally designated representatives of the 
other organization or are members of the 
governing board, officers, or paid executive 
staff members of the other organization, or 
whose service on the governing board is 
contingent upon the approval of the other 
organization; or 
‘‘(iii) the organization is chartered by 
the other organization. 
‘‘(E) COVERAGE
OF
TRANSFERS
TO
AF-
FILIATED
SECTION
501(c)(3) 
ORGANIZA-
TIONS.—This paragraph shall apply with re-
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spect to an amount transferred by a covered or-
ganization to an organization described in para-
graph (3) of section 501(c) of the Internal Rev-
enue Code of 1986 and exempt from tax under 
section 501(a) of such Code in the same man-
ner as this paragraph applies to an amount 
transferred by a covered organization to an-
other covered organization. 
‘‘(g) NO EFFECT ON OTHER REPORTING REQUIRE-
MENTS.—Nothing in this section shall be construed to 
waive or otherwise affect any other requirement of this 
Act which relates to the reporting of campaign-related dis-
bursements.’’. 
(2) 
CONFORMING
AMENDMENT.—Section 
304(f)(6) of such Act (52 U.S.C. 30104) is amended 
by striking ‘‘Any requirement’’ and inserting ‘‘Ex-
cept as provided in section 324(b), any require-
ment’’. 
(b) COORDINATION WITH FINCEN.— 
(1) IN GENERAL.—The Director of the Finan-
cial Crimes Enforcement Network of the Depart-
ment of the Treasury shall provide the Federal Elec-
tion Commission with such information as necessary 
to assist in administering and enforcing section 324 
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of the Federal Election Campaign Act of 1971, as 
amended by this section. 
(2) REPORT.—Not later than 6 months after 
the date of the enactment of this Act, the Chairman 
of the Federal Election Commission, in consultation 
with the Director of the Financial Crimes Enforce-
ment Network of the Department of the Treasury, 
shall submit to Congress a report with recommenda-
tions for providing further legislative authority to as-
sist in the administration and enforcement of such 
section 324. 
SEC. 202. APPLICATION OF FOREIGN MONEY BAN TO DIS-
BURSEMENTS FOR CAMPAIGN-RELATED DIS-
BURSEMENTS 
CONSISTING 
OF 
COVERED 
TRANSFERS. 
Section 319(b)(2) of the Federal Election Campaign 
Act of 1971 (52 U.S.C. 30121(a)(1)(A)), as amended by 
section 102, is amended— 
(1) by striking ‘‘includes any disbursement’’ 
and inserting ‘‘includes— 
‘‘(A) any disbursement’’; 
(2) by striking the period at the end and insert-
ing ‘‘; and’’, and 
(3) by adding at the end the following new sub-
paragraph: 
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‘‘(B) any disbursement, other than a dis-
bursement described in section 324(a)(3)(A), to 
another person who made a campaign-related 
disbursement consisting of a covered transfer 
(as described in section 324) during the 2-year 
period ending on the date of the disburse-
ment.’’. 
SEC. 203. EFFECTIVE DATE. 
The amendments made by this title shall apply with 
respect to disbursements made on or after January 1, 
2022, and shall take effect without regard to whether or 
not the Federal Election Commission has promulgated 
regulations to carry out such amendments. 
TITLE III—STAND BY EVERY AD 
SEC. 301. SHORT TITLE. 
This title may be cited as the ‘‘Stand By Every Ad 
Act’’. 
SEC. 302. STAND BY EVERY AD. 
(a) EXPANDED DISCLAIMER REQUIREMENTS
FOR 
CERTAIN COMMUNICATIONS.—Section 318 of the Federal 
Election Campaign Act of 1971 (52 U.S.C. 30120) is 
amended by adding at the end the the following new sub-
section: 
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‘‘(e) EXPANDED DISCLAIMER REQUIREMENTS FOR 
COMMUNICATIONS NOT AUTHORIZED BY CANDIDATES OR 
COMMITTEES.— 
‘‘(1) IN GENERAL.—Except as provided in para-
graph (6), any communication described in para-
graph (3) of subsection (a) which is transmitted in 
an audio or video format (including an internet or 
digital communication), or which is an internet or 
digital communication transmitted in a text or 
graphic format, shall include, in addition to the re-
quirements of paragraph (3) of subsection (a), the 
following: 
‘‘(A) The individual disclosure statement 
described in paragraph (2)(A) (if the person 
paying for the communication is an individual) 
or the organizational disclosure statement de-
scribed in paragraph (2)(B) (if the person pay-
ing for the communication is not an individual). 
‘‘(B) If the communication is transmitted 
in a video format, or is an internet or digital 
communication which is transmitted in a text or 
graphic format, and is paid for in whole or in 
part with a payment which is treated as a cam-
paign-related disbursement under section 324— 
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