What does Preamble of DISCLOSE Act of 2026 do?

This bill aims to amend the Federal Election Campaign Act of 1971. The proposed amendment focuses on providing for additional disclosure requirements. These requirements would apply to corporations, labor organizations, Super PACs, and other entities.

What does FINDINGS. of DISCLOSE Act of 2026 do?

This section outlines findings supporting campaign finance disclosure. It asserts that disclosure is a narrowly tailored means to advance government interests, such as fostering an informed electorate and deterring corruption. The text highlights that current law inadequately addresses transparency requirements for entities permitted to spend money in Federal elections. It references Supreme Court decisions in *Buckley v. Valeo* and *Citizens United v. FEC* affirming disclosure as a less restrictive alternative to regulating speech. The findings state that the Supreme Court's decision in *Americans for Prosperity Foundation v. Bonta* did not overturn these prior holdings. Disclosure is deemed essential for enforcing the Federal Election Campaign Act's prohibition on foreign national contributions. The text suggests closing loopholes that allow foreign national spending in domestic elections, citing a 2021 Federal Election Commission conciliation agreement involving a political consultant.

What does CLARIFICATION OF APPLICATION OF FOREIGN MONEY BAN TO CERTAIN of DISCLOSE Act of 2026 do?

This section amends Section 319(b) of the Federal Election Campaign Act of 1971. The existing paragraphs (1) and (2) of Section 319(b) are redesignated as subparagraphs (A) and (B). The definition of 'Foreign national' is revised. The term 'contribution or donation' is expanded to include disbursements to political committees that do not comply with the Act's limitations, prohibitions, and reporting requirements. The expanded definition of 'contribution or donation' also includes disbursements for funding expenditures, independent expenditures, or electioneering communications.

What does STUDY AND REPORT ON ILLICIT FOREIGN MONEY IN FEDERAL of DISCLOSE Act of 2026 do?

This section mandates a study by the Comptroller General on the incidence of illicit foreign money in Federal elections. The study must be conducted for each 4-year election cycle, beginning with the cycle ending in 2024. The Comptroller General must submit a report to specified congressional committees following each study. The report must describe the extent to which illicit foreign money was used to target specific groups, including rural, minority, and military/veteran communities. The 'applicable date' for submitting the report is one year after the enactment of the Act for the 2024 election cycle, and one year after the end of the election cycle for subsequent cycles. The term 'illicit foreign money' is defined as contributions or expenditures prohibited under the Federal Election Campaign Act. The section defines '4-year election cycle' as the period ending on the date of the presidential general election. The section specifies the 'appropriate congressional committees' that will receive the report. This section is set to expire after the 2036 presidential election cycle.

What does PROHIBITION ON CONTRIBUTIONS AND DONATIONS BY FOREIGN of DISCLOSE Act of 2026 do?

This section amends the Federal Election Campaign Act of 1971 to prohibit contributions and donations by foreign nationals in connection with state or local ballot initiatives and referenda. The definition of 'Federal, State, or local election' now includes state or local ballot initiatives or referenda, but only concerning 'covered foreign nationals' or 'foreign principals'. A 'covered foreign national' is defined as a foreign principal (government or political party), an agent of such a principal, or a person on the Office of Foreign Assets Control's specially designated nationals and blocked persons list. For U.S. citizens, clause (ii) of subparagraph (A) regarding 'covered foreign national' only applies when acting within the scope of their status as an agent of a foreign principal. The amendment applies to elections held in 2026 or any succeeding year.

What does DISBURSEMENTS AND ACTIVITIES SUBJECT TO FOREIGN MONEY BAN. of DISCLOSE Act of 2026 do?

This section amends Section 319(a)(1) of the Federal Election Campaign Act of 1971 to modify the definition of disbursements subject to foreign money bans. The amendments expand the types of disbursements that are considered subject to the ban, including expenditures, independent expenditures, and disbursements for communications placed on websites or digital applications. The definition of 'online platform' is added to Section 319(b) of the Act, defining it as a website or application with a large user base that sells qualified political advertisements. The amendments specify that the rules apply to disbursements made by 'covered foreign nationals' as defined in subsection (b)(4). The changes apply to disbursements made on or after the date of enactment of this Act.

What does PROHIBITING ESTABLISHMENT OF CORPORATION TO CONCEAL ELECTION of DISCLOSE Act of 2026 do?

This section amends Chapter 29 of title 18, United States Code by adding Section 612. Section 612 prohibits the establishment or use of a corporation to conceal activities of a foreign national prohibited under section 319 of the Federal Election Campaign Act of 1971. The prohibition applies to owners, officers, attorneys, or incorporation agents of a corporation. Violations of this section may result in imprisonment for not more than 5 years, a fine, or both.

What does REPORTING OF CAMPAIGN-RELATED DISBURSEMENTS. of DISCLOSE Act of 2026 do?

This section amends Section 324 of the Federal Election Campaign Act of 1971 to establish disclosure requirements for campaign-related disbursements by covered organizations. Covered organizations making over $10,000 in campaign-related disbursements in an election reporting cycle must file a statement with the Commission within 24 hours of each disclosure date. The statement must include information about the organization, beneficial owners, disbursement amounts, recipients, and the election to which the disbursement pertains. Organizations must certify that disbursements are not made at the request of a candidate or political party. Certain exceptions apply, including amounts received in the ordinary course of business and payments prohibited for campaign-related use. The Federal Election Commission is required to promulgate regulations regarding the exemption under section 324(a)(3)(C) within six months of the Act's enactment.

What does REPORTING OF FEDERAL JUDICIAL NOMINATION DISBURSEMENTS. of DISCLOSE Act of 2026 do?

This section outlines findings related to the influence of money in judicial nominations and proposes reporting requirements. It expresses concern about 'dark money' funding organizations and political activities, which cannot be traced to donors, and its impact on judicial decision-making. Current law does not require disclosure of expenditures related to judicial nominations, allowing for anonymous funding. The section amends the Federal Election Campaign Act of 1971 to require reporting of disbursements for 'Federal judicial nomination communications'. A 'Federal judicial nomination communication' is defined as any communication promoting, supporting, attacking, or opposing the nomination or Senate confirmation of a Federal judge or justice. The amendment clarifies that the reporting requirements apply separately to disbursements for judicial nominations and other campaign-related disbursements.

What does COORDINATION WITH FINCEN. of DISCLOSE Act of 2026 do?

This section requires the Director of the Financial Crimes Enforcement Network (FinCEN) to provide the Federal Election Commission (FEC) with information needed to administer and enforce section 324 of the Federal Election Campaign Act of 1971. The Chairman of the FEC, in consultation with the Director of FinCEN, must submit a report to Congress within six months of the Act's enactment. The report should include recommendations for additional legislative authority to aid in the administration and enforcement of section 324.

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DISCLOSE Act of 2026

Last updated: 3/4/2026 · Introduced: 3/4/2026

Author: Chris Pappas (D-NH)

TL;DR (AI)

The DISCLOSE Act of 2026 amends the Federal Election Campaign Act of 1971 to provide for additional disclosure requirements for corporations, labor organizations, Super PACs, and other entities.
The Act prohibits contributions and donations by foreign nationals in connection with state or local ballot initiatives and referenda, and expands the definition of 'contribution or donation' to include disbursements for funding expenditures, independent expenditures, or electioneering communications.
The Act requires a study by the Comptroller General on the incidence of illicit foreign money in Federal elections, with reports to be submitted to specified congressional committees every 4 years.
The Act establishes disclosure requirements for campaign-related disbursements by covered organizations, requiring them to file a statement with the Commission within 24 hours of each disclosure date.
The Act expands disclaimer requirements for certain communications, including those transmitted in audio or video format, or internet/digital communications in text or graphic format, to include individual or organizational disclosure statements and a Top Five or Top Two Funders list.

119th Congressin committeeS. 3991(In Committee)Official page

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