[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 2954 Introduced in Senate (IS)]

111th CONGRESS
  2d Session
                                S. 2954

To amend the Federal Election Campaign Act of 1971 to apply the ban on 
    contributions and expenditures by foreign nationals to domestic 
   corporations which are owned or controlled by foreign principals.


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                   IN THE SENATE OF THE UNITED STATES

                            January 26, 2010

 Mr. Menendez introduced the following bill; which was read twice and 
         referred to the Committee on Rules and Administration

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                                 A BILL


 
To amend the Federal Election Campaign Act of 1971 to apply the ban on 
    contributions and expenditures by foreign nationals to domestic 
   corporations which are owned or controlled by foreign principals.

    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 ``Prohibiting Foreign Influence in 
American Elections Act''.

SEC. 2. APPLICATION OF BAN ON CONTRIBUTIONS AND EXPENDITURES BY FOREIGN 
              NATIONALS TO FOREIGN-CONTROLLED DOMESTIC CORPORATIONS.

    Section 319(b) of the Federal Election Campaign Act of 1971 (2 
U.S.C. 441e(b)) is amended--
            (1) by striking ``or'' at the end of paragraph (1);
            (2) by striking the period at the end of paragraph (2) and 
        inserting ``; or''; and
            (3) by adding at the end the following new paragraph:
            ``(3) a corporation (other than a foreign principal, as so 
        defined) which is a subsidiary of a foreign principal, or with 
        respect to which--
                    ``(A) one or more foreign principals serves on the 
                board of directors,
                    ``(B) one or more foreign principals directly or 
                indirectly has an ownership interest, or
                    ``(C) one or more foreign principals directly or 
                indirectly holds debt or other obligations.''.
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