Sponsors (5)
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Requires increased public disclosure and tighter rules for inaugural committee spending. It creates a $200 reporting threshold for disbursements (including after the inaugural period), strengthens prohibitions on foreign or disguised donations, defines conversion of funds to personal use, and requires leftover inaugural funds to be transferred to tax‑exempt charities within a set timeframe unless the Federal Election Commission (FEC) grants an extension.
Amend 36 U.S.C. §510(b): make editorial/punctuation changes to paragraph (1) and paragraph (2) and add a new subparagraph (D) requiring disclosure for certain disbursements.
New disclosure requirement (added as §510(b)(2)(D)): For any disbursement equal to or greater than $200 (including disbursements made after the end of the inaugural period), the Inaugural Committee must report: (i) the name and address of the person to whom the disbursement was made; (ii) the date of the disbursement; and (iii) the total amount and purpose of the disbursement.
It is unlawful for an Inaugural Committee to solicit, accept, or receive a donation from a foreign national.
It is unlawful for any person to make a donation to an Inaugural Committee in the name of another person, or to knowingly authorize his or her name to be used to effect such a donation; and it is unlawful to knowingly accept a donation to an Inaugural Committee made by a person in the name of another person.
It is unlawful for a foreign national to, directly or indirectly, make a donation, or make an express or implied promise to make a donation, to an Inaugural Committee.
Directly affected parties include inaugural committees (organizers and treasurers), donors and intermediaries who funnel contributions, tax‑exempt charities that may receive leftover funds, and the Federal Election Commission (which gains explicit extension and enforcement authority). Inaugural committees will need to update accounting and reporting systems to capture $200+ disbursements and to document source-of-funds to guard against foreign or disguised donations. Donors and third-party payors face clearer restrictions and higher documentary scrutiny. Charities may receive additional donations from leftover funds but must be eligible tax‑exempt organizations. The FEC will have a stronger enforcement role and may need to process extension requests and investigate alleged conversions to personal use. Overall, the change increases transparency and lowers the risk of improper foreign influence or personal enrichment, while imposing modest compliance and administrative burdens on committees and oversight responsibilities on the FEC.
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Read twice and referred to the Committee on the Judiciary.
Introduced January 16, 2025 by Catherine Marie Cortez Masto · Last progress January 16, 2025
Read twice and referred to the Committee on the Judiciary.
Introduced in Senate