Stop Undisclosed Payments in Elections from Ruining Public Accountability in Campaigns (SuperPAC Act)
Title II - Promoting Disclosure of Influential Money in Elections
Sec. 205. Optional Use of Separate Account by Covered Organizations for Campaign-Related Activity
Title III of the Federal Election Campaign Act of 1971 (2 U.S.C. 431 et seq.), as amended by section 212, is further amended by adding at the end the following new section:
`SEC. 326. OPTIONAL USE OF SEPARATE ACCOUNT BY COVERED ORGANIZATIONS FOR CAMPAIGN-RELATED ACTIVITY.
`(a) Optional Use of Separate Account-‐
`(1) ESTABLISHMENT OF ACCOUNT-‐
`(A) IN GENERAL-‐ At its option, a covered organization described in section 325 may make disbursements for campaign-‐related activity using amounts from a bank account established and controlled by the organization to be known as the Campaign-‐Related Activity Account (hereafter in this section referred to as the `Account’), which shall be maintained separately from all other accounts of the organization and which shall consist exclusively of the deposits described in paragraph (2).
`(B) MANDATORY USE OF ACCOUNT AFTER ESTABLISHMENT-‐ If a covered organization establishes an Account under this section, it may not make disbursements for campaign-‐related activity from any source other than amounts from the Account.
`(C) EXCLUSIVE USE OF ACCOUNT FOR CAMPAIGN-‐RELATED ACTIVITY-‐ Amounts in the Account shall be used exclusively for disbursements by the covered organization for campaign-‐ related activity. After such disbursements are made, information with respect to deposits made to the Account shall be disclosed in accordance with section 304(g)(5) or section 304(f)(6).
`(2) DEPOSITS DESCRIBED-‐ The deposits described in this paragraph are deposits of the following amounts:
`(A) Amounts donated or paid to the covered organization by a person other than the organization for the purpose of being used for campaign-‐related activity, and for which the person providing the amounts has designated that the amounts be used for campaign-‐related activity with respect to a specific election or specific candidate.
`(B) Amounts donated or paid to the covered organization by a person other than the organization for the purpose of being used for campaign-‐related activity, and for which the person providing the amounts has not designated that the amounts be used for campaign-‐related activity with respect to a specific election or specific candidate.
`(C) Amounts donated or paid to the covered organization by a person other than the organization in response to a solicitation for funds to be used for campaign-‐related activity.
`(D) Amounts transferred to the Account by the covered organization from other accounts of the organization, including from the organization’s general treasury funds.
`(3) NO TREATMENT AS POLITICAL COMMITTEE-‐ The establishment and administration of an Account in accordance with this subsection shall not by itself be treated as the establishment or administration of a political committee for any purpose of this Act.
`(b) Reduction in Amounts Otherwise Available for Account in Response to Demand of General Donors-‐
`(1) IN GENERAL-‐ If a covered organization which has established an Account obtains any revenues during a year which are attributable to a donation or payment from a person other than the covered organization, and if any person who makes such a donation or payment to the organization notifies the organization in writing (at the time of making the donation or payment) that the organization may not use the donation or payment for campaign-‐related activity, the organization shall reduce the amount of its revenues available for deposits to the Account which are described in subsection (a)(3)(D) during the year by the amount of the donation or payment.
`(2) EXCEPTION-‐ Paragraph (1) does not apply with respect to any payment made pursuant to commercial activities in the regular course of a covered organization’s business.
`(c) Definitions-‐ In this section, the terms `campaign-‐related activity’ and `covered organization’ have the meaning given such terms in section 325.’.