United States S 4822: DISCLOSE Act of 2022

Bill Text

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Calendar No. 484
117TH CONGRESS
2D SESSION S. 4822
To amend the Federal Election Campaign Act of 1971 to provide for addi-
tional disclosure requirements for corporations, labor organizations,
Super PACs and other entities, and for other purposes.
IN THE SENATE OF THE UNITED STATES
SEPTEMBER 12, 2022
Mr. WHITEHOUSE (for himself, Mr. WYDEN, Mr. SCHUMER, Mr. VAN HOL-
LEN, Mr. LEAHY, Mrs. FEINSTEIN, Mrs. MURRAY, Mr. DURBIN, Mr.
REED, Mr. CARPER, Ms. STABENOW, Ms. CANTWELL, Mr. MENENDEZ,
Mr. CARDIN, Mr. SANDERS, Mr. BROWN, Mr. CASEY, Ms. KLOBUCHAR,
Mr. TESTER, Mrs. SHAHEEN, Mr. WARNER, Mr. MERKLEY, Mr. BEN-
NET, Mrs. GILLIBRAND, Mr. COONS, Mr. BLUMENTHAL, Mr. SCHATZ,
Ms. BALDWIN, Mr. MURPHY, Ms. HIRONO, Mr. HEINRICH, Mr. KING,
Mr. KAINE, Ms. WARREN, Mr. MARKEY, Mr. BOOKER, Mr. PETERS, Ms.
DUCKWORTH, Ms. HASSAN, Ms. CORTEZ MASTO, Ms. SMITH, Ms.
ROSEN, Mr. LUJA ́N, Mr. HICKENLOOPER, Mr. PADILLA, Mr. OSSOFF,
Mr. WARNOCK, Mr. MANCHIN, Mr. KELLY, and Ms. SINEMA) introduced
the following bill; which was read the first time
SEPTEMBER 13, 2022
Read the second time and placed on the calendar
A BILL
To amend the Federal Election Campaign Act of 1971 to
provide for additional disclosure requirements for cor-
porations, labor organizations, Super PACs and other
entities, and for other purposes.
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•S 4822 PCS
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 3
(a) SHORT TITLE.—This Act may be cited as the 4
‘‘Democracy Is Strengthened by Casting Light On Spend-5
ing in Elections Act of 2022’’ or the ‘‘DISCLOSE Act 6
of 2022’’. 7
(b) TABLE OF CONTENTS.—The table of contents of 8
this Act is as follows: 9
Sec. 1. Short title; table of contents.
Sec. 2. Findings.
TITLE I—CLOSING LOOPHOLES ALLOWING SPENDING BY
FOREIGN NATIONALS IN ELECTIONS
Sec. 101. Clarification of application of foreign money ban to certain disburse-
ments and activities.
Sec. 102. Study and report on illicit foreign money in Federal elections.
Sec. 103. Prohibition on contributions and donations by foreign nationals in
connection with ballot initiatives and referenda.
Sec. 104. Disbursements and activities subject to foreign money ban.
Sec. 105. Prohibiting establishment of corporation to conceal election contribu-
tions and donations by foreign nationals.
TITLE II—REPORTING OF CAMPAIGN-RELATED DISBURSEMENTS
Sec. 201. Reporting of campaign-related disbursements.
Sec. 202. Reporting of Federal judicial nomination disbursements.
Sec. 203. Coordination with FinCEN.
Sec. 204. Application of foreign money ban to disbursements for campaign-re-
lated disbursements consisting of covered transfers.
Sec. 205. Effective date.
TITLE III—OTHER ADMINISTRATIVE REFORMS
Sec. 301. Petition for certiorari.
Sec. 302. Judicial review of actions related to campaign finance laws.
Sec. 303. Effective date.
TITLE IV—STAND BY EVERY AD
Sec. 401. Short title.
Sec. 402. Stand by every ad.
Sec. 403. Disclaimer requirements for communications made through
prerecorded telephone calls.
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•S 4822 PCS
Sec. 404. No expansion of persons subject to disclaimer requirements on inter-
net communications.
Sec. 405. Effective date.
TITLE V—SEVERABILITY
Sec. 501. Severability.
SEC. 2. FINDINGS. 1
Congress finds the following: 2
(1) Campaign finance disclosure is a narrowly 3
tailored and minimally restrictive means to advance 4
substantial government interests, including fostering 5
an informed electorate capable of engaging in self- 6
government and holding their elected officials ac-7
countable, detecting and deterring quid pro quo cor-8
ruption, and identifying information necessary to en-9
force other campaign finance laws, including cam-10
paign contribution limits and the prohibition on for-11
eign money in U.S. campaigns. To further these 12
substantial interests, campaign finance disclosure 13
must be timely and complete, and must disclose the 14
true and original source of money given, transferred, 15
and spent to influence Federal elections. Current law 16
does not meet this objective because corporations 17
and other entities that the Supreme Court has per-18
mitted to spend money to influence Federal elections 19
are subject to few if any transparency requirements. 20
(2) As the Supreme Court recognized in its per 21
curiam opinion in Buckley v. Valeo, 424 U.S. 1, 22
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•S 4822 PCS
(1976), ‘‘disclosure requirements certainly in most 1
applications appear to be the least restrictive means 2
of curbing the evils of campaign ignorance an