Sec. 4101. Application of ban on contributions and expenditures by foreign nationals to domestic corporations, limited liability corporations, and partnerships that are foreign-controlled, foreign-influenced, and foreign-owned
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Section 319(b) of the Federal Election Campaign Act of 1971 ( 52 U.S.C. 30121(b) ) is amended— by striking or at the end of paragraph (1); by striking the period at the end of paragraph
(2)and inserting ; or ; and by adding at the end the following new paragraph: except as provided under subsection (c), any corporation, limited liability corporation, or partnership which is not a foreign national described in paragraph
(1)and— in which a foreign national described in paragraph
(1)or
(2)directly or indirectly owns or controls— 5 percent or more of the voting shares, if the foreign national is a foreign country, a foreign government official, or a corporation principally owned or controlled by a foreign country or foreign government official; or 20 percent or more of the voting shares, if the foreign national is not described in clause (i); in which two or more foreign nationals described in paragraph
(1)or (2), each of whom owns or controls at least 5 percent of the voting shares, directly or indirectly own or control 50 percent or more of the voting shares; over which one or more foreign nationals described in paragraph
(1)or
(2)has the power to direct, dictate, or control the decisionmaking process of the corporation, limited liability corporation, or partnership with respect to its interests in the United States; or over which one or more foreign nationals described in paragraph
(1)or
(2)has the power to direct, dictate, or control the decisionmaking process of the corporation, limited liability corporation, or partnership with respect to activities in connection with a Federal, State, or local election, including— the making of a contribution, donation, expenditure, independent expenditure, or disbursement for an electioneering communication (within the meaning of section 304(f)(3)); or the administration of a political committee established or maintained by the corporation. . Section 319 of such Act ( 52 U.S.C. 30121 ) is amended by adding at the end the following new subsection: Notwithstanding subsection (a), a foreign national described in subparagraph (A), (B), or
(C)of subsection (b)(3) which is a domestic corporation whose principal place of business is within the United States may establish, administer and solicit contributions to a separate segregated fund pursuant to section 316(b)(2)(C) so long as— the foreign national parent corporation of such domestic corporation does not directly or indirectly finance the establishment, administration, or solicitation activities of the fund; and the fund is in compliance with complies with the requirements of section 316(b)(8). . Section 319 of such Act ( 52 U.S.C. 30121 ), as amended by subsection (a)(2), is further amended by adding at the end the following new subsection: Prior to the making in connection with an election for Federal office of any contribution, donation, expenditure, independent expenditure, or disbursement for an electioneering communication by a corporation, limited liability corporation, or partnership during a year, the chief executive officer of the corporation, limited liability corporation, or partnership (or, if the corporation, limited liability corporation, or partnership does not have a chief executive officer, the highest ranking official of the corporation, limited liability corporation, or partnership), shall file a certification with the Commission, under penalty of perjury, that the corporation, limited liability corporation, or partnership is not prohibited from carrying out such activity under subsection (b)(3), unless the chief executive officer has previously filed such a certification during that calendar year. . The amendments made by this section shall take effect upon the expiration of the 180-day period which begins on the date of the enactment of this Act, and shall take effect without regard to whether or not the Federal Election Commission has promulgated regulations to carry out such amendments.
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Sec. 4101
Application of ban on contributions and expenditures by foreign nationals to domestic corporations, limited liability corporations, and partnerships that are foreign-controlled, foreign-influenced, and foreign-owned
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