To amend the Federal Election Campaign Act of 1971 to require certain campaign-related communications which are paid for by certain tax-exempt organizations or political organizations to include a statement naming their five largest donors, and for other purposes.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Stand By Your Ad Act of 2010''.

SEC. 2. STATEMENTS INCLUDED IN CAMPAIGN COMMUNICATIONS FUNDED BY 
              CERTAIN TAX-EXEMPT ORGANIZATIONS OR POLITICAL 
              ORGANIZATIONS.

    (a) Requiring Statement Identifying Largest Donors.--Section 318(d) 
of the Federal Election Campaign Act of 1971 (2 U.S.C. 441d(d)) is 
amended--
            (1) in paragraph (2), by striking ``Any communication'' and 
        inserting ``Except as provided in paragraph (3), any 
        communication''; and
            (2) by adding at the end the following new paragraph:
            ``(3) Special rules for communications paid for by certain 
        tax-exempt or political organizations.--
                    ``(A) Disclosure statement required.--Any 
                communication described in paragraph (3) of subsection 
                (a) which is funded in whole or in part by a covered 
                section 501(c) organization or a political organization 
                and which is transmitted through radio or television 
                shall include, in addition to the requirements of that 
                paragraph, the disclosure statement described in 
                subparagraph (C).
                    ``(B) Method of conveyance of statement.--
                            ``(i) Communications transmitted through 
                        radio.--In the case of a communication to which 
                        this paragraph applies which is transmitted 
                        through radio, the disclosure statement 
                        described in subparagraph (C) shall be made by 
                        audio in a clearly spoken manner.
                            ``(ii) Communications transmitted through 
                        television.--In the case of a communication to 
                        which this paragraph applies which is 
                        transmitted through television, the disclosure 
                        statement described in subparagraph (C) shall 
                        be conveyed by an unobscured, full-screen view 
                        of a representative of the organization, or by 
                        a representative of the organization making the 
                        statement in voice-over. The statement, 
                        together with clearly readable logos of the 
                        organization and each donor identified in the 
                        disclosure statement (if any), shall also 
                        appear in writing at the end of the 
                        communication in a clearly readable manner with 
                        a reasonable degree of color contrast between 
                        the background and the printed statement and 
                        logos, for a period of at least 4 seconds.
                    ``(C) Disclosure statement described.--The 
                disclosure statement described in this subparagraph is 
                the following: `This advertisement was paid for by 
                _______, whose funders include _______. For a full list 
                of donors, go to _______.', with--
                            ``(i) the first blank to be filled in with 
                        the name of the covered section 501(c) 
                        organization or political organization 
                        involved;
                            ``(ii) the second blank to be filled in 
                        with the names of the 5 persons who provided 
                        the largest amount of funding to the 
                        organization for any purpose during the 12-
                        month period which ends on the date on which 
                        the organization paid for the communication; 
                        and
                            ``(iii) the third blank to be filled in 
                        with the Internet address of the website of the 
                        organization which includes the information the 
                        organization is required to post and maintain 
                        under subsections (c)(4) and (f)(8) of section 
                        304.
                    ``(D) Definitions.--In this paragraph--
                            ``(i) the term `political organization' 
                        means a political organization described in 
                        section 527 of the Internal Revenue Code of 
                        1986, except that such term does not include a 
                        political committee of a political party; and
                            ``(ii) the term `covered section 501(c) 
                        organization' means--
                                    ``(I) an organization described in 
                                paragraph (4), (5), or (6) of section 
                                501(c) of the Internal Revenue Code of 
                                1986 and exempt from taxation under 
                                section 501(a) of such Code; or
                                    ``(II) an organization which has 
                                submitted an application to the 
                                Internal Revenue Service for 
                                determination of its status as an 
                                organization described in subclause 
                                (I).''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply with respect to communications made on or after the date of the 
enactment of this Act.

SEC. 3. REQUIRING ORGANIZATIONS TO INCLUDE INFORMATION ON LARGEST 
              DONORS IN REPORTS ON INDEPENDENT EXPENDITURES AND 
              ELECTIONEERING COMMUNICATIONS.

    (a) Reports on Independent Expenditures.--
            (1) Contents of statements.--Section 304(c)(2) of the 
        Federal Election Campaign Act of 1971 (2 U.S.C. 434(c)(2)) is 
        amended--
                    (A) by striking ``and'' at the end of subparagraph 
                (B);
                    (B) by striking the period at the end of 
                subparagraph (C) and inserting ``; and''; and
                    (C) by adding at the end the following new 
                subparagraph:
            ``(D) if the person making the independent expenditure is a 
        covered section 501(c) organization or a political organization 
        (as such terms are defined in section 318(d)(3)(D)), the 
        identification of the 5 persons who provided the largest amount 
        of funding to the organization for any purpose, together with 
        the amount of funding each such person provided, during the 12-
        month period which ends on the date on which the organization 
        made the independent expenditure.''.
            (2) Posting of information on website.--Section 304(c) of 
        such Act (2 U.S.C. 434(c)) is amended by adding at the end the 
        following new paragraph:
    ``(4) Each covered section 501(c) organization or political 
organization which is required to include the information described in 
paragraph (2)(D) in the statements required to be filed under this 
subsection shall post and maintain such information on a publicly 
available official website of the organization.''.
    (b) Reports on Electioneering Communications.--
            (1) Contents of statements.--Section 304(f)(2) of the 
        Federal Election Campaign Act of 1971 (2 U.S.C. 434(f)(2)) is 
        amended by adding at the end the following new subparagraph:
                    ``(G) If the person making the disbursement is a 
                covered section 501(c) organization or a political 
                organization (as such terms are defined in section 
                318(d)(3)(D)), the identification of the 5 persons who 
                provided the largest amount of funding to the person 
                for any purpose, together with the amount of funding 
                each such person provided, during the 12-month period 
                which ends on the date on which the organization made 
                the disbursement.''.
            (2) Posting of information on website.--Section 304(f) of 
        such Act (2 U.S.C. 434(f)) is amended by adding at the end the 
        following new paragraph:
            ``(8) Posting certain donor information on website.--Each 
        covered section 501(c) organization or political organization 
        which is required to include the information described in 
        paragraph (2)(G) in the statements required to be filed under 
        this subsection shall post and maintain such information on a 
        publicly available official website of the organization.''.
    (c) Effective Date.--The amendments made by this section shall 
apply with respect to statements filed after the date of the enactment 
of this Act.

Summary: Stand By Your Ad Act of 2010 - Amends the Federal Election Campaign Act of 1971 to require certain campaign-related communications which are paid for by certain tax-exempt organizations or political organizations to include a statement naming their five largest donors.

Requires organizations to include information on their largest donors in reports on independent expenditures and electioneering communications.