S. 2515
119th CONGRESS 1st Session
To amend the Federal Election Campaign Act of 1971 to limit the authority of corporations to establish and operate separate segregated funds utilized for political purposes, including the establishment or operation of a political committee, to nonprofit corporations, and for other purposes.
IN THE SENATE OF THE UNITED STATES · July 29, 2025 · Sponsor: Mr. Kelly · Committee: Committee on Rules and Administration
Table of contents
- SEC. 1. Short title
- SEC. 2. Limiting authority of corporations to establish or operate separate segregated funds for political purposes to nonprofit corporations
- SEC. 3. Effective date; transition for existing funds and committees
SEC. 1. Short title
This Act may be cited as the "Ban Corporate PACs Act".
SEC. 2. Limiting authority of corporations to establish or operate separate segregated
funds for political purposes to nonprofit corporations
(a) Limitation
(1) Section 316(b)(2)(C) of the Federal Election Campaign Act of 1971 (52 U.S.C. 30118(b)(2)(C)) is amended by striking and inserting .
(2) Section 316(b) of such Act (52 U.S.C. 30118(b)) is amended by adding at the end the following new paragraph:
(8) For purposes of this section, the term nonprofit corporation means a corporation described in section 501(c) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of such Code, other than a corporation which is ineligible to be exempt from taxation under section 501(a) of such Code if it establishes a separate segregated fund under this subsection..