No Foreign Election Interference Act

No Foreign Election Interference Act

This bill prohibits specified tax-exempt organizations from making contributions
to political committees for eight years from the date of receiving a gift or
contribution from a foreign national. Specified tax-exempt organization means,
with respect to any taxable year, any organization described in Section 501©
of the Internal Revenue Code (IRC) and exempt from tax under Section 501(a) of
the IRC if (1) the gross receipts of such organization for such taxable year
equal or exceed $200,000; or (2) the assets of such organization (determined as
of the close of such taxable year) equal or exceed $500,000.

Any specified tax-exempt organization that makes such a contribution must pay a
penalty that is 200% of the amount of such contribution.

The organization loses its tax-exempt status for any taxable year ending on or
after the date of a third contribution.