Sec. 2. Prohibition of contributions and expenditures by multicandidate political committees or separate segregated funds sponsored by foreign-controlled corporations and associations
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Title III of the Federal Election Campaign Act of 1971 ( 52 U.S.C. 30101 et seq. ) is amended by adding at the end the following new section: Notwithstanding any other provision of law— no multicandidate political committee or separate segregated fund of a foreign-controlled corporation may make any contribution or expenditure with respect to an election for Federal office; and no multicandidate political committee or separate segregated fund of a trade organization, membership organization, cooperative, or corporation without capital stock may make any contribution or expenditure with respect to an election for Federal office if 50 percent or more of the operating fund of the trade organization, membership organization, cooperative, or corporation without capital stock is supplied by foreign-controlled corporations or foreign nationals.
The Commission shall— require each multicandidate political committee or separate segregated fund of a corporation to include in the statement of organization of the multicandidate political committee or separate segregated fund a statement (to be updated annually and at any time when the percentage goes above or below 50 percent) of the percentage of ownership interest in the corporation that is controlled by persons other than citizens or nationals of the United States; require each trade association, membership organization, cooperative, or corporation without capital stock to include in its statement of organization of the multicandidate political committee or separate segregated fund (and update annually) the percentage of its operating fund that is derived from foreign-owned corporations and foreign nationals; and take such action as may be necessary to enforce subsection (a).
The Commission shall maintain a list of the identity of the multicandidate political committees or separate segregated funds that file reports under subsection (b), including a statement of the amounts and percentage reported by such multicandidate political committees or separate segregated funds. As used in this section— the term foreign-owned corporation means a corporation at least 50 percent of the ownership interest of which is controlled by persons other than citizens or nationals of the United States; the term multicandidate political committee has the meaning given that term in section 315(a)(4); the term separate segregated fund means a separate segregated fund referred to in section 316(b)(2)(C); and the term foreign national has the meaning given that term in section 319. .
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Sec. 2
Prohibition of contributions and expenditures by multicandidate political committees or separate segregated funds sponsored by foreign-controlled corporations and associations
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