[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8988 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 8988

To amend the Federal Election Campaign Act of 1971 to apply the ban on 
 contributions and expenditures by foreign nationals under such Act to 
  foreign-controlled, foreign-influenced, and foreign-owned domestic 
               business entities, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 10, 2024

    Mr. Raskin (for himself, Mr. Allred, Mr. Carson, Mr. Crow, Mr. 
 DeSaulnier, Ms. Perez, Mr. Golden of Maine, Mr. Goldman of New York, 
Mr. Gottheimer, Mr. Grijalva, Ms. Jayapal, Mr. Johnson of Georgia, Mr. 
   Levin, Ms. Norton, Ms. Ocasio-Cortez, Mr. Pocan, Ms. Scanlon, Ms. 
  Schakowsky, Ms. Slotkin, Ms. Tlaib, Mrs. Trahan, Mr. Trone, and Ms. 
    Wild) introduced the following bill; which was referred to the 
                   Committee on House Administration

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Election Campaign Act of 1971 to apply the ban on 
 contributions and expenditures by foreign nationals under such Act to 
  foreign-controlled, foreign-influenced, and foreign-owned domestic 
               business entities, and for other purposes.

    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 ``Get Foreign Money Out of U.S. 
Elections Act''.

SEC. 2. APPLICATION OF BAN ON CONTRIBUTIONS AND EXPENDITURES BY FOREIGN 
              NATIONALS TO DOMESTIC BUSINESS ENTITIES THAT ARE FOREIGN-
              CONTROLLED, FOREIGN-INFLUENCED, AND FOREIGN-OWNED.

    (a) Application of Ban.--Section 319(b) of the Federal Election 
Campaign Act of 1971 (52 U.S.C. 30121(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 a semicolon; and
            (3) by adding at the end the following new paragraphs:
            ``(3) any business entity in which a foreign national which 
        is outside of the United States and is described in paragraph 
        (1) or (2) directly or indirectly owns or controls or otherwise 
        holds direct or indirect beneficial ownership of 50 percent or 
        more of the voting shares, total equity, membership units, or 
        other applicable ownership interests of the entity; or
            ``(4) any business entity which is not a foreign national 
        described in paragraph (1), and--
                    ``(A) in which a foreign national which is outside 
                of the United States and is described in paragraph (1), 
                (2), or (3) directly or indirectly owns or controls or 
                otherwise holds direct or indirect beneficial ownership 
                of 1 percent or more of the voting shares, total 
                equity, membership units, or other applicable ownership 
                units of the entity;
                    ``(B) in which two or more foreign nationals which 
                are outside of the United States and are described in 
                paragraph (1), (2), or (3), in the aggregate, directly 
                or indirectly own or control or otherwise hold direct 
                or indirect beneficial ownership of 5 percent or more 
                of the voting shares, total equity, membership units, 
                or other applicable ownership interests of the entity;
                    ``(C) over which one or more foreign nationals 
                which are outside of the United States and are 
                described in paragraph (1), (2), or (3) have the power 
                to direct, dictate, or control the decisionmaking 
                process of the entity with respect to its interests in 
                the United States; or
                    ``(D) over which one or more foreign nationals 
                which are outside of the United States and are 
                described in paragraph (1), (2), or (3) have the power 
                to direct, dictate, or control the decision-making 
                process of the entity with respect to activities in 
                connection with a Federal, State, or local election, 
                including--
                            ``(i) the making of a contribution, 
                        donation, expenditure, independent expenditure, 
                        or disbursement for an electioneering 
                        communication (within the meaning of section 
                        304(f)(3)); or
                            ``(ii) the administration of a political 
                        committee established or maintained by the 
                        entity.''.
    (b) Certification of Compliance.--Section 319 of such Act (52 
U.S.C. 30121) is amended by adding at the end the following new 
subsection:
    ``(c) Certification of Compliance Required for Carrying Out 
Election Activity by Business Entity.--
            ``(1) Certification required.--Not later than 7 days after 
        a business entity makes any contribution, donation, 
        expenditure, independent expenditure, disbursement for an 
        electioneering communication, or any disbursement in connection 
        with an election for Federal, State, or local office or with 
        any State or local ballot measure, the chief executive officer 
        of the entity (or, if the entity does not have a chief 
        executive officer, the highest ranking official of the entity), 
        shall file a certification with the Commission, under penalty 
        of perjury, avowing that after due inquiry, the entity was not 
        a foreign national on the date the entity made the 
        contribution, donation, expenditure, independent expenditure, 
        or disbursement.
            ``(2) Determination of beneficial ownership.--A business 
        entity shall determine beneficial ownership for purposes of 
        this section in a manner consistent with applicable State law, 
        except that if the entity is registered pursuant to section 
        12(g) of the Securities Exchange Act of 1934 (15 U.S.C. 78l), 
        the entity shall determine beneficial ownership in accordance 
        with section 13(d) of that Act (15 U.S.C. 78m(d)).
            ``(3) Provision to recipients.--The business entity shall 
        provide a copy of the certification filed under paragraph (1) 
        to each political committee to which it makes a contribution, 
        and, upon the request of the recipient, to each recipient of a 
        contribution, donation, expenditure, independent expenditure, 
        or disbursement with respect to which the certification under 
        paragraph (1) is filed.''.
    (c) Prevention of Circumvention.--Section 319 of such Act (52 
U.S.C. 30121), as amended by subsection (b), is amended by adding at 
the end the following new subsection:
    ``(d) Prohibiting Use of Funds From Business Entities Without 
Certification.--
            ``(1) Prohibition.--Except as provided in paragraph (2), it 
        shall be unlawful for any person that receives from a business 
        entity a contribution, donation, expenditure, independent 
        expenditure, or disbursement with respect to which the business 
        entity is required to file a certification of compliance under 
        subsection (c) to use that contribution, donation, expenditure, 
        independent expenditure, or disbursement, directly or 
        indirectly, to--
                    ``(A) make such a contribution, donation, 
                expenditure, independent expenditure, or disbursement; 
                or
                    ``(B) contribute, donate, transfer, or otherwise 
                convey such a contribution, donation, expenditure, 
                independent expenditure, or disbursement to another 
                person for use as such a contribution, donation, 
                expenditure, independent expenditure, or disbursement.
            ``(2) Exception for funds accompanied by certification.--
        Paragraph (1) does not apply to a person that receives from a 
        business entity a contribution, donation, expenditure, 
        independent expenditure, or disbursement described in such 
        paragraph if--
                    ``(A) the person receives from the business entity 
                a copy of the certification of compliance under 
                subsection (c) with respect to such contribution, 
                donation, expenditure, independent expenditure, or 
                disbursement;
                    ``(B) the use by the person of the contribution, 
                donation, expenditure, independent expenditure, or 
                disbursement is otherwise lawful; and
                    ``(C) the person separately designates, records, 
                and accounts for the contribution, donation, 
                expenditure, independent expenditure, or disbursement, 
                and ensures that disbursements by the person for a 
                contribution, donation, expenditure, independent 
                expenditure, disbursement for an electioneering 
                communication, or any disbursement in connection with 
                an election for Federal, State, or local office are 
                only made from funds that comply with the requirements 
                of this section.
            ``(3) Good faith reliance on certification of compliance.--
        For purposes of this subsection, a person may rely in good 
        faith on a certification of compliance provided to the person 
        under subsection (c)(3).''.
    (d) Business Entity Defined.--Section 319 of such Act (52 U.S.C. 
30121), as amended by subsection (b) and subsection (c), is amended by 
adding at the end the following new subsection:
    ``(e) Business Entity Defined.--For purposes of this section, the 
term `business entity' means a for-profit corporation, limited 
liability corporation, partnership, company, limited partnership, 
business trust, business association, or other similar for-profit 
entity.''.
    (e) Effective Date.--The amendments made by this section shall take 
effect upon the expiration of the 180-day period which begins on the 
date of the enactment of this Act, and shall take effect without regard 
to whether or not the Federal Election Commission has promulgated 
regulations to carry out such amendments.

SEC. 3. CLARIFICATION OF APPLICATION OF FOREIGN MONEY BAN TO CERTAIN 
              DISBURSEMENTS AND ACTIVITIES.

    (a) Application to Disbursements in Connection With State and Local 
Ballot Initiatives and Disbursements to Super PACs.--Section 
319(a)(1)(A) of the Federal Election Campaign Act of 1971 (52 U.S.C. 
30121(a)(1)(A)) is amended by striking ``election;'' inserting the 
following: ``election (including a State or local ballot initiative or 
referendum), including any disbursement to a political committee which 
accepts donations or contributions that do not comply with the 
limitations, prohibitions, or reporting requirements of this Act (or 
any disbursement to or on behalf of any account of a political 
committee which is established for the purpose of accepting such 
donations or contributions);''.
    (b) Conditions Under Which Corporate PACs May Make Contributions 
and Expenditures.--Section 316(b) of such Act (52 U.S.C. 30118(b)) is 
amended by adding at the end the following new paragraph:
    ``(8) A separate segregated fund established by a corporation may 
not make a contribution or expenditure during a year unless the fund 
has certified to the Commission each of the following during the year:
            ``(A) Each individual who manages the fund, and who is 
        responsible for exercising decision-making authority for the 
        fund, is a citizen of the United States or is lawfully admitted 
        for permanent residence in the United States.
            ``(B) No foreign national under section 319 participates in 
        any way in the decision-making processes of the fund with 
        regard to contributions or expenditures under this Act.
            ``(C) The fund does not solicit or accept recommendations 
        from any foreign national under section 319 with respect to the 
        contributions or expenditures made by the fund.
            ``(D) Any member of the board of directors of the 
        corporation who is a foreign national under section 319 
        abstains from voting on matters concerning the fund or its 
        activities.''.
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