Corporate and Non-Profit Political Spending Transparency and Disclosure Act
This law aims to increase transparency in political funding by requiring corporations to disclose detailed information about their expenditures for covered political activity, including independent expenditures and electioneering communications, to shareholders and the Federal Election Commission (FEC). Furthermore, it introduces spending limits for 501(c)(4) organizations to maintain their tax-exempt status. Through these changes, information on corporate spending will be publicly accessible via the Commission's website.
Key points
Corporations submitting regular reports to shareholders must disclose information on expenditures for covered political activity if they exceed set thresholds (e.g., $250 for independent expenditures).
501(c)(4) non-profits will lose tax exemption if their political activity expenditures exceed the lesser of 10% of total spending or $10 million.
Corporations must file statements with the FEC and post a hyperlink on their website to the statements published by the Commission.
Expired
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