[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 491 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                 S. 491

   To amend the Internal Revenue Code of 1986 to require that online 
contributions to a political organization require a credit verification 
                                 value.


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                   IN THE SENATE OF THE UNITED STATES

                           February 16, 2023

  Mr. Rubio (for himself and Mrs. Blackburn) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to require that online 
contributions to a political organization require a credit verification 
                                 value.

    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 ``Codification of Verified Values 
Act'' or the ``CVV Act''.

SEC. 2. CVV REQUIREMENT FOR ONLINE CONTRIBUTIONS TO POLITICAL 
              ORGANIZATIONS.

    (a) In General.--Section 527 of the Internal Revenue Code of 1986 
is amended by adding at the end the following new subsection:
    ``(m) CVV Requirement for Online Contributions.--An organization 
shall not be treated as an organization described in this section 
unless, in the case of any internet credit card contribution accepted 
by such organization, the individual or entity making such contribution 
is required, at the time such contribution is made, to disclose the 
credit verification value of such credit card.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to contributions made in taxable years beginning after the date of the 
enactment of this Act.
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