H.R. 9874

Get Foreign Money Out of United States Elections Act

Sponsor: Jamie Raskin

81 cosponsors
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Sec. 3. Clarification of application of foreign money ban to certain disbursements and activities

(a) Application to disbursements in connection with State and local ballot initiatives and disbursements to Super PACs. Section 319(a)(1)(A) of the Federal Election Campaign Act of 1971 (52 U.S.C. 30121(a)(1)(A)) is amended by striking election; and inserting election (including a State or local ballot initiative, referendum, or recall election), including any disbursement to a political committee which accepts donations or contributions that do not comply with the limitations, prohibitions, or reporting requirements 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 donations or contributions);.

(b) Conditions under which corporate PACs may make contributions and expenditures. Section 316(b) of such Act (52 U.S.C. 30118(b)) is amended by adding at the end the following new paragraph:

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(8) A separate segregated fund established by a corporation may not make a contribution or expenditure during a year unless the fund has certified to the Commission each of 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 residence in the United States.

(B) No foreign national under section 319 participates in any way in the decisionmaking processes of the fund with regard to contributions or expenditures under this Act.

(C) The fund does not solicit or accept recommendations from any foreign national under section 319 with respect to the contributions or expenditures made by the fund.

(D) Any member of the board of directors of the corporation who is a foreign national under section 319 abstains from voting on matters concerning the fund or its activities.