0
DISCLOSE Act of 2023
12/15/2023, 4:06 PM
Summary of Bill S 512
Under the DISCLOSE Act of 2023, any organization that spends more than $10,000 on political advertisements must disclose the names of donors who contributed $10,000 or more. This information would then be made publicly available on a searchable online database maintained by the Federal Election Commission.
The bill also includes provisions to prevent foreign entities from influencing US elections by prohibiting them from making contributions to political campaigns or funding political advertisements. Additionally, the DISCLOSE Act of 2023 aims to close loopholes that allow certain organizations to avoid disclosing their donors by requiring them to disclose the original source of their funding. Overall, the DISCLOSE Act of 2023 seeks to promote transparency and accountability in political campaign financing by ensuring that voters have access to information about who is funding political advertisements. This bill is currently under review in Congress and has garnered support from lawmakers who believe in the importance of transparency in the political process.
Congressional Summary of S 512
Democracy Is Strengthened by Casting Light On Spending in Elections Act of 2023 or the DISCLOSE Act of 2023
This bill addresses campaign finance, including by expanding the prohibition on campaign spending by foreign nationals, requiring additional disclosures of campaign expenditures, and requiring additional disclosures regarding certain political advertisements.
Specifically, the bill expands existing foreign money prohibitions to include disbursements for paid web-based or digital communications and federal judicial nomination communications. It also prohibits foreign nationals from contributing to campaigns related to ballot initiatives and referenda.
The Government Accountability Office must, for each four-year election cycle, study and report on the incidence of illicit foreign money in federal elections.
Next, the bill makes it unlawful to establish or use a corporation, company, or other entity with the intent to conceal an election contribution or donation by a foreign national. A violator is subject to criminal penalties—a fine, a prison term of up to five years, or both.
Covered organizations (e.g., corporations, labor organizations, and political organizations) must, within 24 hours, file reports with the Federal Election Commission to disclose campaign expenditures of more than $10,000 during an election cycle.
The bill also requires organizations to provide additional disclosures regarding political advertisements, including the donors who contributed the most money to that organization in the last year.
