What does Preamble of DISCLOSE Act of 2026 do?

This bill, formally titled 'To amend the Federal Election Campaign Act of 1971 to provide for additional disclosure requirements for corporations, labor organizations, Super PACs and other entities, and for other purposes,' aims to modify the Federal Election Campaign Act of 1971. The bill intends to establish additional disclosure requirements for various entities, including corporations, labor organizations, and Super PACs.

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 emphasizes the need for timely and complete disclosure, including the true source of funds influencing Federal elections. It references Supreme Court decisions in *Buckley v. Valeo* and *Citizens United v. FEC*, which recognize disclosure as a less restrictive alternative to regulating speech. The findings state that the *Americans for Prosperity Foundation v. Bonta* decision did not overturn the Court's prior recognition of the value of disclosure. Disclosure is deemed essential for enforcing the prohibition on foreign national contributions. The text highlights a 2021 Federal Election Commission case where a political consultant solicited a contribution from a foreign national, demonstrating a need to close loopholes.

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 definition of 'contribution or donation' is expanded to include disbursements to political committees that do not comply with limitations, prohibitions, and reporting requirements of the Act. The expanded definition also includes disbursements to other persons 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 is required to 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 subsequent 4-year election cycles. The term 'illicit foreign money' is defined as contributions or expenditures prohibited under the Federal Election Campaign Act. This section defines key terms such as '4-year election cycle,' 'illicit foreign money,' 'election,' and 'Federal office'. The section specifies the 'appropriate congressional committees' that will receive the reports. This section sunsets after the 2036 election for President and Vice President.

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 foreign 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' applies only 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 those for electioneering communications, online advertisements, and communications related to judicial nominations. The section defines 'online platform' as a website or application with a significant number of users or a third-party advertising vendor meeting specific visitor thresholds. The definition of 'online platform' excludes distribution facilities of traditional media outlets. The amendments apply to disbursements made on or after the enactment date 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 a new 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 can result in imprisonment for up to 5 years, a fine, or both.

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

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

This section outlines findings regarding the influence of dark money in judicial nominations and the need for increased transparency. It highlights concerns about public trust in government, the prevalence of dark money, and its impact on judicial decision-making. The section notes that current law does not adequately regulate spending on judicial nominations, leaving the public unaware of who is funding these efforts. It 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, excluding news stories and editorials. The amendment applies existing campaign finance reporting requirements to these disbursements, including thresholds for reporting and defining the election reporting cycle as the calendar year of the disbursement.

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 FEC Chairman, in consultation with the FinCEN Director, 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.