H.R. 4523 (111th): Save Our Democracy From Foreign Influence Act of 2010

111th Congress, 2009–2010. Text as of Jan 26, 2010 (Introduced).

Status & Summary | PDF | Source: GPO

HR 4523 IH

111th CONGRESS

2d Session

H. R. 4523

To amend the Federal Election Campaign Act of 1971 to apply the ban on contributions and expenditures by foreign nationals to domestic corporations whose shareholders include any foreign principals.

IN THE HOUSE OF REPRESENTATIVES

January 26, 2010

Mr. PERRIELLO introduced the following bill; which was referred to the Committee on House Administration

A BILL

To amend the Federal Election Campaign Act of 1971 to apply the ban on contributions and expenditures by foreign nationals to domestic corporations whose shareholders include any foreign principals.

    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 ‘Save Our Democracy From Foreign Influence Act of 2010’.

SEC. 2. APPLICATION OF BAN ON CONTRIBUTIONS AND EXPENDITURES BY FOREIGN NATIONALS TO DOMESTIC CORPORATIONS WITH FOREIGN SHAREHOLDERS.

    Section 319(b) of the Federal Election Campaign Act of 1971 (2 U.S.C. 441e(b)) is amended--

      (1) by striking ‘or’ at the end of paragraph (1);

      (2) by striking the period at the end of paragraph (2) and inserting ‘; or’; and

      (3) by adding at the end the following new paragraph:

      ‘(3) a corporation (other than a foreign principal, as so defined) whose shareholders include one or more foreign principals.’.