OPEN Act

Openness in Political Expenditures Now Act or the OPEN Act

This bill requires each corporation that submits regular and periodic reports to shareholders to (1) include information about certain political activities during the time period covered by the report, and (2) provide copies of reports disclosing political activities to the Federal Election Commission.

The bill also prohibits an organization from obtaining tax-exempt status under Section 501(c)(4) of the Internal Revenue Code if its expenditures on covered political activities exceed certain thresholds in a taxable year.

The OPEN Act, also known as Bill 117 hr 4359, is a piece of legislation introduced in the US Congress with the aim of promoting transparency and accountability in government. The bill seeks to increase public access to information about the activities of Congress and federal agencies by requiring them to make certain records and documents available to the public.

Specifically, the OPEN Act mandates that all legislative branch entities, including the House of Representatives, the Senate, and their respective committees, must publish their records online in a searchable, machine-readable format. This includes information such as bills, resolutions, amendments, and voting records.

Additionally, the bill requires federal agencies to make certain records available to the public upon request, unless they fall under specific exemptions outlined in the legislation. This is intended to ensure that government agencies are more transparent and accountable to the American people. Overall, the OPEN Act aims to increase transparency and accountability in government by making it easier for the public to access information about the activities of Congress and federal agencies. It is a bipartisan effort to promote open government and ensure that the American people have the information they need to hold their elected officials accountable.