Shell Company Abuse Act

Bill: 115-s-2939
Sponsor: full_name: Sen. Whitehouse, Sheldon [D-RI]
Introduced: 2018-05-23
Policy area: Crime and Law Enforcement
Latest action: action_date: 2018-06-26
text: Committee on the Judiciary Subcommittee on Crime and Terrorism. Hearings held.

Summaries:
action_date: 2018-05-23
action_desc: Introduced in Senate
text: <p><b>Shell Company Abuse Act</b></p> <p>This bill amends the federal criminal code to make it unlawful to establish or use a corporation, company, or other entity with the intent to conceal an election contribution or donation by a foreign national.</p> <p>A violator is subject to a criminal penalty&#8212;a fine, a prison term of up to five years, or both.</p>

tv_txt: II 115th CONGRESS 2d Session S. 2939 IN THE SENATE OF THE UNITED STATES May 23, 2018 Mr. Whitehouse (for himself, Mr. Grassley , Mr. Durbin , Mr. Graham , and Mr. Blumenthal ) introduced the following bill; which was read twice and referred to the Committee on Rules and Administration A BILL To amend title 18, United States Code, to prohibit the establishment of a corporation to conceal election contributions and donations by foreign nationals.

1. Short title This Act may be cited as the Shell Company Abuse Act . 2. Prohibition (a) In general Chapter 29 of title 18, United States Code, is amended by adding at the end the following: 612. Establishment of corporation to conceal election contributions and donations by foreign 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 corporation, 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 by inserting after the item relating to section 611 the following: 612. Establishment of corporation to conceal election contributions and donations by foreign nationals. .