Inaugural Fund Integrity Act

Inaugural Fund Integrity Act

This bill limits donations to inaugural committees and requires these committees to disclose donations and disbursements.

Specifically, inaugural committees may not solicit, accept, or receive donations from corporations or foreign nationals. An individual may not make a donation in the name of another individual or authorize his or her name to be used to make such a donation. In addition, foreign nationals may not make donations or make promises to make donations to inaugural committees.

Further, the bill caps the amount an individual may donate to an inaugural committee.

Donations to inaugural committees may not be converted to personal use.

Finally, inaugural committees must report certain information on donations and disbursements to the Federal Election Commission.

Bill 117 HR 422, also known as the Inaugural Fund Integrity Act, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to increase transparency and accountability in the use of funds raised for presidential inaugural ceremonies.

The bill requires that all funds raised for inaugural ceremonies be deposited into a dedicated account and that detailed reports on the sources of these funds be submitted to the Federal Election Commission. Additionally, the bill prohibits the use of inaugural funds for personal expenses or to benefit the president or their family members.

Furthermore, the Inaugural Fund Integrity Act mandates that any surplus funds remaining after the inauguration must be donated to a charity chosen by the president-elect. This provision aims to ensure that any excess funds raised for the inauguration are used for charitable purposes rather than personal gain. Overall, the Inaugural Fund Integrity Act seeks to promote transparency and ethical use of funds raised for presidential inaugural ceremonies. By requiring detailed reporting and prohibiting the use of funds for personal expenses, this bill aims to hold elected officials accountable and ensure that inaugural funds are used in the public interest.