Sec. 712. Banning contributions to members of Congress from corporations under the jurisdiction of their committees
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Title III of the Federal Election Campaign Act of 1971 ( 52 U.S.C. 30101 et seq.), as amended by sections 141 and 701, is amended by adding at the end the following new section: No person shall make a contribution to a member of Congress, an authorized committee of a member of Congress, or a leadership PAC of a member of Congress unless, at the time the person makes the contribution, the person certifies under penalty of perjury that the person is not affiliated with a corporation (other than a nonprofit corporation) or a membership organization described in section 501(c)(6) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code any member of which is a corporation which has a financial interest in a category of business which is under the jurisdiction of a committee of Congress on which the member serves.
A member of Congress may not solicit from a person any contribution, including a contribution to an authorized committee of the member, a leadership PAC of the member, a political committee of a political party, or any other political committee, if the member knows or reasonably should know that the person has a financial interest in a category of business which is under the jurisdiction of a committee of Congress on which the member serves. A member of Congress may not solicit from a person any donation to a foundation or other nonprofit organization whose governing board includes the member or an immediate family member of the member if the member knows or reasonably should know that the person has a financial interest in a category of business which is under the jurisdiction of a committee of Congress on which the Member serves.
For purposes of this paragraph— the term immediate family member means, with respect to a member of Congress, a parent, child, sibling, spouse, or parent-in-law; and the term nonprofit organization means an organization which is described in section 501(c) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of such Code. For purposes of this subsection, the determination as to whether a category of business is under the jurisdiction of a committee of Congress shall be based on the most recent report filed with the Commission by the Committee on Ethics of the House of Representatives or the Select Committee on Ethics of the Senate under section 712(b) of the Anti-Corruption and Public Integrity Act .
For purposes of subsection (a), a person is affiliated with a corporation (other than a nonprofit corporation) or membership organization if the person is any of the following: A separate segregated fund established by the membership organization under section 316. An individual who is a treasurer, agent, or other officer of a separate segregated fund established by a membership organization under section 316. An individual who is general partner, managing member, or executive officer, or other individual with a similar status or function of the corporation or membership organization for purposes of section 316, or who would be treated as a general partner, managing member, or executive officer, or other individual with a similar status of the corporation or membership organization for purposes of section 316 if the corporation or membership organization established a separate segregated fund or solicited contributions under such section.
An individual who owns or controls 5 percent or more of the voting shares of the corporation, except that this paragraph does not apply with respect to a corporation whose annual revenues were less than $5,000,000 during any of the 3 most recent fiscal years ending before the date on which the individual makes the contribution. Subsection
(a)does not apply with respect to any of the following: A contribution to a candidate for election to the office of Representative in, or Delegate or Resident Commissioner to, the Congress, an authorized committee of such a candidate, or a leadership PAC of such a candidate which is made by an individual who is a resident of the congressional district such candidate represents. A contribution to a candidate for election to the office of Senator, an authorized committee of such a candidate, or a leadership PAC of such a candidate which is made by an individual who is a resident of the State such candidate represents. A contribution made to a political committee by an individual whose identification the political committee is not required to disclose under section 304(b)(3)(A) because the aggregate amount or value of the contributions made by the individual to the committee during the election cycle involved is not in excess of $200. A contribution made to a political committee by a separate segregated fund established by a labor organization under section 316. In this section— the term leadership PAC means, with respect to a candidate or a Member of Congress, a political committee that is directly or indirectly established, financed, maintained or controlled by the candidate or the member but which is not an authorized committee of the candidate or the member and which is not affiliated with an authorized committee of the candidate or the member, except that such term does not include a political committee of a political party; and the term member of Congress means a Senator or Representative in, or Delegate or Resident Commissioner to, the Congress. . The amendments made by this subsection shall apply with respect to contributions and donations made or solicited after the expiration of the 120-day period which begins on the date the Committee on Ethics of the House of Representatives and the Select Committee on Ethics of the Senate file the first reports required under subsection (b). During each Congress, the Committee on Ethics of the House of Representatives and the Select Committee on Ethics of the Senate shall prepare and submit to the Federal Election Commission a report listing for each standing committee of the House or Senate (as the case may be) the categories of businesses which are under the jurisdiction of such committee, in such form and in accordance with such criteria as the Committee on Ethics of the House of Representatives and the Select Committee on Ethics of the Senate may each establish. The Office of Congressional Ethics shall annually make recommendations to the Committee on Ethics of the House of Representatives and the Select Committee on Ethics of the Senate regarding updates to each report under paragraph (1). The Committee on Ethics of the House of Representatives and the Select Committee on Ethics of the Senate shall prepare each report under paragraph
(1)in consultation with— the Parliamentarian of the Senate or the Parliamentarian of the House, respectively, to consider the assignment of legislation to each committee as an indicator in preparation of the report; and the Clerk of the Senate or Clerk of the House, respectively, to consider the lobbying activity of businesses in each business category as an indicator in preparation of the report. The Committee on Ethics of the House of Representatives and the Select Committee on Ethics of the Senate shall each submit the first report for a Congress under this section not later than 90 days after the beginning of the Congress. The Committee on Ethics of the House of Representatives and the Select Committee on Ethics of the Senate shall each prepare and submit to the Federal Election Commission updates to reports required under this subsection on a regular and ongoing basis.
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Sec. 712
Banning contributions to members of Congress from corporations under the jurisdiction of their committees
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