Vote Smart's Synopsis:

Vote on a motion to invoke cloture on a bill that submits a constitutional amendment to the voters that requires certain organizations involved in political advertising to disclose information on individuals or groups who donate $10,000 or more.

Highlights:

• Requires any “covered organization” that makes “campaign-related disbursements” totaling to $10,000 or more in an election reporting cycle, no later than 24 hours after each disclosure date, to file a statement with the Commission that includes, but is not limited to, the following (Sec. 2):
• The name of the “covered organization” and its principal location;
• The name and address of the person to whom campaign related disbursements of more than $1,000 are made;
• A certification by the chief executive officer or head of the “covered organization” that the campaign-related disbursement is not made in cooperation with, or at the request of, a candidate, authorized committee, agent of a candidate, political party, or agent of a political party; and
• If the disbursement is made for a public communication, the election the disbursement is made for, the name of any candidate identified in the communication, and whether the communication is supporting or opposing the candidate.

• Defines “covered organization” to include, but not be limited to, the following (Sec. 2):
• A corporation other than those defined as 501(c)(3) in the Internal Revenue Code;
• A labor organization; and
• Any political organization other than a political committee.

• Defines a “campaign-related disbursement” as a disbursement made by covered organizations for, n independent expenditure consisting of a public communication, an electioneering communication, or a covered transfer (Sec. 2).

• Exempts covered organizations when making campaign-related disbursements over $10,000 from having to file statements on amounts received in commercial transactions, the course of business conducted by the covered organization, or on investments made within the covered organization, except for investments made by the principal shareholder in a limited liability corporation (Sec. 2). 

Full Bill Text

Full Bill Text