[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8314 Reported in House (RH)]
<DOC>
Union Calendar No. 546
118th CONGRESS
2d Session
H. R. 8314
[Report No. 118-649]
To amend the Internal Revenue Code of 1986 to impose penalties with
respect to contributions to political committees from certain tax
exempt organizations that receive contributions from foreign nationals.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
May 8, 2024
Ms. Malliotakis introduced the following bill; which was referred to
the Committee on Ways and Means
September 6, 2024
Additional sponsor: Mr. Gallego
September 6, 2024
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed
in italic]
[For text of introduced bill, see copy of bill as introduced on May 8,
2024]
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to impose penalties with
respect to contributions to political committees from certain tax
exempt organizations that receive contributions from foreign nationals.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``No Foreign Election Interference
Act''.
SEC. 2. PENALTIES WITH RESPECT TO CONTRIBUTIONS TO POLITICAL COMMITTEES
FROM CERTAIN TAX EXEMPT ORGANIZATIONS THAT ACCEPT
CONTRIBUTIONS FROM FOREIGN NATIONALS.
(a) In General.--Part I of subchapter B of chapter 68 of the
Internal Revenue Code of 1986 is amended by adding at the end the
following new section:
``SEC. 6720D. CONTRIBUTIONS TO POLITICAL COMMITTEES FROM CERTAIN TAX
EXEMPT ORGANIZATIONS THAT ACCEPT CONTRIBUTIONS FROM
FOREIGN NATIONALS.
``(a) In General.--Any specified tax exempt organization that makes
any disqualified political committee contribution shall pay a penalty
equal to twice the amount of such contribution.
``(b) Disqualified Political Committee Contribution.--For purposes
of this section--
``(1) In general.--The term `disqualified political
committee contribution' means, with respect to any organization
described in section 501(c), any contribution made by such
organization to a political committee (as defined in section
301 of the Federal Election Campaign Act of 1971 (52 U.S.C.
30101)) if such organization received, during any testing
period, any contribution or gift (within the meaning of section
6033(b)(5)) from a foreign national (as defined in section
319(b) of the Federal Election Campaign Act of 1971 (52 U.S.C.
30121(b))).
``(2) Testing period.--The term `testing period' means,
with respect to any contribution by an organization described
in section 501(c), the 8-year period ending on the date of such
contribution, except that such period shall not include any
period before the date of the enactment of this section.
``(c) Specified Tax Exempt Organization.--For purposes of this
section--
``(1) In general.--The term `specified tax exempt
organization' means, with respect to any taxable year, any
organization described in section 501(c) and exempt from tax
under section 501(a) if--
``(A) the gross receipts of such organization for
such taxable year equal or exceed $200,000, or
``(B) the assets of such organization (determined
as of the close of such taxable year) equal or exceed
$500,000.
``(2) Coordination with revocation of tax exempt status by
reason of making disqualified political committee
contributions.--An organization which is not exempt from tax
under section 501(a) solely by reason of section 501(s) shall
be treated for purposes of paragraph (1) of this subsection as
exempt from tax under section 501(a) with respect to the
application of this section to the first 3 disqualified
political committee contributions of such organization.''.
(b) Revocation of Exempt Status Upon Third Disqualified Political
Committee Contribution.--Section 501 of the Internal Revenue Code of
1986 is amended by adding at the end the following new subsection:
``(s) Revocation of Exempt Status of Certain Organizations That
Accept Contributions From Foreign Nationals and Make Contributions to
Political Committees.--Any organization described in subsection (c)
which makes more than 2 disqualified political committee contributions
(as defined in section 6720D(b)) shall not be exempt from taxation
under subsection (a) for any taxable year ending on or after the date
of the third such contribution.''.
(c) Clerical Amendment.--The table of sections for part I of
subchapter B of chapter 68 of such Code is amended by adding at the end
the following new item:
``Sec. 6720D. Contributions to political committees from certain tax
exempt organizations that accept
contributions from foreign nationals.''.
(d) Effective Date.--The amendments made by this section shall
apply with respect to contributions made on or after January 1, 2025,
by organizations described in section 501(c) of the Internal Revenue
Code of 1986.
Union Calendar No. 546
118th CONGRESS
2d Session
H. R. 8314
[Report No. 118-649]
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to impose penalties with
respect to contributions to political committees from certain tax
exempt organizations that receive contributions from foreign nationals.
_______________________________________________________________________
September 6, 2024
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed