New Transparency Rules for Presidential Inaugural Committee Donations and Spending.
This Act significantly increases transparency for Presidential Inaugural Committees by requiring detailed disclosure of all spending over $200. It strictly prohibits donations from foreign nationals and bans the use of donated funds for personal expenses. These changes aim to ensure accountability and limit foreign influence in the transition of power.
Key points
Mandatory disclosure of all Inaugural Committee spending equal to or greater than $200, including the purpose and recipient's details.
Total ban on soliciting or accepting donations from foreign nationals by Inaugural Committees.
Prohibition on converting donated funds for personal use, defined as expenses existing regardless of the Committee's duties.
Any remaining funds must be donated to a qualified charity (501(c)(3) organization) within 90 days after the inauguration.
Status:
Expired
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