II 111th CONGRESS 2d Session S. 2954 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 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.

1.

Short title

This Act may be cited as the Prohibiting Foreign Influence in American Elections Act.

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. .