Sec. 103. Instant disclosure system for contributions
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Not later than January 1, 2015, the Federal Election Commission shall make available an instant disclosure system for use in reporting contributions under section 304 of the Federal Election Campaign Act of 1971 ( 2 U.S.C. 434 ) and covered contributions under section 354 of such Act. Such system shall include a free internet-based system or free software through which participants may report. Section 304(a) of the Federal Election Campaign Act of 1971 ( 2 U.S.C. 434 ) is amended by adding at the end the following new paragraph:
On and after the date the Commission establishes the instant disclosure system described in section 103(a) of the Follow the Money Act of 2013 , each treasurer of a political committee which accepts a reportable contribution shall file, not later than the time provided under subparagraph (B), a statement with the Commission containing the information described in subparagraph (C). The statement required to be made under subparagraph
(A)shall be filed with the Commission— in the case of a reportable contribution made by check, before the date on which such check has been cashed or deposited into an account of the independent political actor; in the case of a reportable contribution made by credit card or debit card, within 48 hours of the receipt of such contribution; and in any other case, within 10 days of the receipt of such contribution. Each statement required to be filed under this subsection shall contain— the identification of the person who made the contribution, and the date and amount of each contribution made by such person during the federal election cycle. For purposes of this paragraph, the term reportable contribution means any contribution which would be required to be reported by the political committee under subparagraphs
(A)or
(B)of subsection (b)(3) on a report submitted under paragraph (2), (3), or
(4)if such report covered activity through the day the statement under subparagraph
(A)were filed. .
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Sec. 103
Instant disclosure system for contributions
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