H.R. 6338 · 114th Congress
OPEN Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CartwrightSponsor4 cosponsors · 4 D
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Federal Election Campaign Act of 1971 to require a corporation that submits regular, periodic reports to its shareholders to include in each such report specified information on disbursements it has made for certain political activity (including independent expenditures and electioneering communications) during the period covered by the…
What it does: CRS summary · Introduced in House · Nov 17, 2016
Openness in Political Expenditures Now Act or OPEN Act
This bill amends the Federal Election Campaign Act of 1971 to require a corporation that submits regular, periodic reports to its shareholders to include in each such report specified information on disbursements it has made for certain political activity (including independent expenditures and electioneering communications) during the period covered by the report. The amount of disbursements reported, however, is limited to the amount that equals or exceeds the applicable threshold for the covered political activity.
"Applicable threshold" for a disbursement is defined as: (1) $250 for an independent expenditure, (2) $10,000 for an electioneering communication or another kind of communication meeting specified criteria, and (3) the amount of the applicable limitation on contributions in effect for payment of dues or other amounts to a trade association or to a tax-exempt social welfare organization.
A Corporation reporting such expenditures shall: (1) file a statement about them with the Election Assistance Commission (EAC), and (2) post on its website (if any) a hyperlink from its homepage to this statement on the EAC website.
This bill amends the Internal Revenue Code to deny a tax exemption for a social welfare organization if: (1) its expenditures for the taxable year for covered political activity exceed the lesser of 10% of its total expenditures or $10 million, or (2) its governing instrument does not effectively prohibit its expenditures for a covered political activity from exceeding these thresholds.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: OPEN Act
Also known as: Openness in Political Expenditures Now Act
Latest action (Nov 17, 2016): Referred to the Committee on Ways and Means, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Government Operations and Politics · Origin: House · Introduced: Nov 17, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.