Sec. 101. Treatment of certain foreign-owned corporations and associations as foreign nationals for purposes of ban on campaign activity
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Section 319(b) of the Federal Election Campaign Act of 1971 ( 52 U.S.C. 30121(b) ) is amended to read as follows: As used in this section, the term foreign national means— an individual who is not a citizen of the United States or a national of the United States, as defined in section 101(a)(22) of the Immigration and Nationality Act ( 8 U.S.C. 1101(a)(22) ), and who is not lawfully admitted for permanent residence, as defined by section 101(a)(20) of such Act ( 8 U.S.C. 1101(a)(20) ; a person outside of the United States, unless it is established that such person is an individual who is a citizen of the United States, or that such person is not an individual and is organized under or created by the laws of the United States or of any State or other place subject to the jurisdiction of the United States and has its principal place of business within the United States; a government of a foreign country or an official of the government of a foreign country, as defined in section 1(e) of the Foreign Agents Registration Act of 1938 ( 22 U.S.C. 611(e) ), a foreign political party, as defined in section 1(f) of such Act ( 22 U.S.C. 611(f) ), or a corporation principally owned or controlled by the government of a foreign country or an official of the government of a foreign country, including a separate segregated fund of such a corporation under section 316; a corporation (other than a corporation described in subparagraph (C)), partnership, association, organization, or other combination of persons organized under the laws of or having its principal place of business in a foreign country, including a separate segregated fund of such a corporation under section 316; a corporation in which one or more foreign nationals described in subparagraph
(C)holds, owns, controls, or otherwise has directly or indirectly acquired beneficial ownership of equity or voting shares in an aggregate amount equal to or greater than 5 percent of total equity or outstanding voting shares (as determined by excluding any equity or shares owned by a mutual fund), including a separate segregated fund of such a corporation under section 316; or a corporation in which one or more foreign nationals (other than those described in subparagraph (C)) holds, owns, controls, or otherwise has directly or indirectly acquired beneficial ownership of equity or voting shares in an aggregate amount equal to or greater than 20 percent of total equity or outstanding voting shares (as determined by excluding any equity or shares owned by a mutual fund), including a separate segregated fund of such a corporation. In the case of a corporation which is required to file quarterly reports with the Securities and Exchange Commission under section 13 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m ), the determination as to whether a corporation is described in subparagraph (D), (E), or
(F)shall be based on the most recent such report. .
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Sec. 101
Treatment of certain foreign-owned corporations and associations as foreign nationals for purposes of ban on campaign activity
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