H.R.4644 - Fairness in Corporate Campaign Spending Act of 2010111th Congress (2009-2010)
|Sponsor:||Rep. Sestak, Joe [D-PA-7] (Introduced 02/22/2010)|
|Committees:||House - House Administration|
|Latest Action:||02/22/2010 Referred to the House Committee on House Administration.|
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Subject — Policy Area:
- Government Operations and Politics
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Summary: H.R.4644 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (02/22/2010)
Fairness in Corporate Campaign Spending Act of 2010 - Amends the Federal Election Campaign Act of 1971 to prohibit a corporation from making any independent expenditure or disbursing funds for any electioneering communication without obtaining the prior approval of a majority of its shareholders. Subjects officers and directors of a corporation to personal liability for civil money penalties for violating this prohibition.
Exempts from this prohibition any corporation whose aggregate disbursements for electioneering communications during a year: (1) are less than $8,000, if the corporation has fewer than 100 full-time-equivalent (FTE) employees; or (2) are less than $20,000, if the corporation has more than 100 FTE employees.
Declares that nothing in this Act shall affect political disbursements by a separate segregated fund established by a corporation.