To amend the Federal Election Campaign Act of 1971 to apply the restrictions on the use of campaign funds for personal use to the funds of leadership PACs and other political committees, to clarify the treatment of certain coordinated expenditures as contributions to candidates, to require the sponsors of certain political advertisements to identify the source of funds used for the advertisements, and for other purposes.
About This Bill
Committee
Latest Action · August 20, 2024
Referred to the House Committee on House Administration.
# Summary
This bill tightens campaign finance regulations in four main ways. First, it expands restrictions on using campaign funds for personal purposes to include leadership PACs and other political committees, not just individual campaigns. Second, it redefines coordinated expenditures—spending by outside groups working with candidates—as campaign contributions, closing what supporters view as a loophole that allows unlimited spending through nominally independent groups. Third, it broadens the definition of political advertisements to include paid digital and internet communications, extending disclosure requirements beyond traditional media like television and radio. Fourth, it requires political advertisements to identify and disclose the top three funding sources paying for the ads, using the threshold of $10,000 for segregated accounts or $50,000 for other funding sources. Most provisions take effect January 1, 2025, though coordination rules take effect 60 days after enactment. The bill affects candidates, political committees, political parties, and outside groups that spend money on election-related activities.
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