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H.R. 3854 (114th): Real Time Transparency Act of 2015

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Oct 28, 2015.


Real Time Transparency Act of 2015

This bill amends the Federal Election Campaign Act of 1971 to revise the requirement of a 48-hour notification of a campaign contribution of $1,000 or more to the Federal Election Commission (FEC) and certain other officials by the principal campaign committee of a candidate for federal office.

(Currently, a candidate's principal campaign committee is required to give a written 48-hour notification to the Secretary of the Senate or the FEC, and the Secretary of State, as appropriate, after the receipt of any contribution of $1,000 or more by any authorized committee of such candidate after the 20th day, but more than 48 hours before, any election.)

This requirement, with certain additions, shall now apply to any political committee, not just a candidate's principal campaign committee, regarding cumulative contributions (instead of single contributions) of $1,000 or more from any contributor during a calendar year. A report shall now be made only to the FEC.

Any amount transferred by a joint fundraising committee established by a candidate's authorized committee to any other authorized committee of that candidate shall be treated as a contribution by the joint fundraising committee to such authorized committee (and thus subject to the 48-hour notification requirement).

Senate candidates must file designations, statements, and reports directly with the FEC (instead of via the Secretary of the Senate, as currently required).