[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4432 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 4432

    To direct the Securities and Exchange Commission to revise its 
 reporting requirements to require public companies to report certain 
expenditures made to influence public opinion on any matter other than 
          the promotion of the company's products or services.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 13, 2010

 Mr. Grayson introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
    To direct the Securities and Exchange Commission to revise its 
 reporting requirements to require public companies to report certain 
expenditures made to influence public opinion on any matter other than 
          the promotion of the company's products or services.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Corporate Propaganda Sunshine Act''.

SEC. 2. REPORTING OF EXPENDITURES.

    Not later than 30 days after the date of enactment of this Act, the 
Securities and Exchange Commission shall revise its regulations issued 
pursuant to sections 13 and 15(d) of the Securities Exchange Act of 
1934 (15 U.S.C. 78m and 78o(d)) to require that issuers include in the 
reports required under those sections any expenditure or series of 
expenditures of the issuer totaling $1,000 or more made for the purpose 
of influencing public opinion on any matter other than the promotion of 
the issuer's products or services. Such disclosures shall include the 
date, amount, and purpose of the expenditure and identify (by name, 
address, and phone number) the person to whom it was made.
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