[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1626 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 1626

To amend the Securities Exchange Act of 1934 to prohibit the Securities 
and Exchange Commission from issuing rules requiring the disclosure of 
           an issuer's expenditures for political activities.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 18, 2013

  Mrs. Wagner (for herself and Mr. Garrett) introduced the following 
    bill; which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend the Securities Exchange Act of 1934 to prohibit the Securities 
and Exchange Commission from issuing rules requiring the disclosure of 
           an issuer's expenditures for political activities.

    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 ``Focusing the SEC on Its Mission 
Act''.

SEC. 2. PROHIBITION ON REQUIRING DISCLOSURE OF POLITICAL EXPENDITURES.

    Section 13 of the Securities Exchange Act of 1934 (78m) is amended 
by adding at the end the following:
    ``(s) Prohibition on Requiring Disclosure of Political 
Expenditures.--
            ``(1) In general.--The Commission shall not require the 
        disclosure by an issuer of any political expenditure.
            ``(2) Definition.--The term `political expenditure' means--
                    ``(A) an independent expenditure, as such term is 
                defined in section 301(17) of the Federal Election 
                Campaign Act of 1971 (2 U.S.C. 431(17));
                    ``(B) an electioneering communication, as such term 
                is defined in section 304(f)(3) of such Act (2 U.S.C. 
                434(f)(3)) and any other public communication (as such 
                term is defined in section 301(22) of such Act (2 
                U.S.C. 431(22))) that would be an electioneering 
                communication if it were a broadcast, cable, or 
                satellite communication; or
                    ``(C) dues or other payments to trade associations 
                or organizations described in section 501(c) of the 
                Internal Revenue Code of 1986 and exempt from tax under 
                section 501(a) of such Code that are, or could 
                reasonably be anticipated to be, used or transferred to 
                another association or organization for the purposes 
                described in clauses (i) or (ii).''.
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