Ban Corporate PACs Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
This bill, the Ban Corporate PACs Act, restricts corporations from creating or operating political action committees (PACs). Existing corporate PACs must close within one year of the bill’s enactment. The legislation changes the definition of a ‘nonprofit corporation’ for the purpose of campaign finance regulations and limits who can contribute to these funds to only executive and administrative personnel.
Key provisions
- Corporations can no longer establish or operate political action committees (PACs).
- Existing corporate PACs must be dissolved within one year of the bill’s enactment.
- The definition of ‘nonprofit corporation’ is expanded to include organizations described in section 501(c) of the Internal Revenue Code.
- Contributions to these funds are limited to executive and administrative personnel.
- Government contractors are also restricted from establishing corporate PACs.
Who is affected
- Corporations
- Political Action Committees (PACs)
- Executive and Administrative Personnel
- Nonprofit Corporations
- Government Contractors
Notable changes
- The bill eliminates the ability of corporations to use PACs for political fundraising.
- It shifts the authority to establish political funds to nonprofit corporations.
Bill text
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Sponsors
Official sponsors from legislative records.
4 on record
Primary sponsor
Cosponsors
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