119-s2515

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2515 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 2515

 To amend the Federal Election Campaign Act of 1971 to limit the 
authority of corporations to establish and operate separate segregated 
 funds utilized for political purposes, including the establishment or 
operation of a political committee, to nonprofit corporations, and for 
 other purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 July 29, 2025

 Mr. Kelly (for himself, Ms. Slotkin, Mr. Kim, and Ms. Warren) 
introduced the following bill; which was read twice and referred to the 
 Committee on Rules and Administration

_______________________________________________________________________

 A BILL

 To amend the Federal Election Campaign Act of 1971 to limit the 
authority of corporations to establish and operate separate segregated 
 funds utilized for political purposes, including the establishment or 
operation of a political committee, to nonprofit corporations, and for 
 other purposes.

 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 ``Ban Corporate PACs Act''.

SEC. 2. LIMITING AUTHORITY OF CORPORATIONS TO ESTABLISH OR OPERATE 
 SEPARATE SEGREGATED FUNDS FOR POLITICAL PURPOSES TO 
 NONPROFIT CORPORATIONS.

    (a) Limitation.--

    (1) In general.--

Section 316

    (b)

    (2)
            (C) of the Federal 
 Election Campaign Act of 1971 (52 U.S.C. 30118

    (b)

    (2)
            (C) ) is 
 amended by striking ``a corporation'' and inserting ``a 
 nonprofit corporation''.

    (2) === Definition. ===
-

Section 316

    (b) of such Act (52 U.S.C. 
 30118

    (b) ) is amended by adding at the end the following new 
 paragraph:
 ``

    (8) For purposes of this section, the term `nonprofit 
corporation' means a corporation described in 

section 501
            (c) of the 
Internal Revenue Code of 1986 and exempt from taxation under 

section 501

    (a) of such Code, other than a corporation which is ineligible to be 
exempt from taxation under 

section 501

    (a) of such Code if it 
establishes a separate segregated fund under this subsection.''.

    (b) Permitting Solicitation of Contributions Only From Executive 
and Administrative Personnel.--

Section 316

    (b) of such Act (52 U.S.C. 
30118

    (b) ) is amended--

    (1) in paragraph

    (4)
        (A)
            (i) , by striking ``its stockholders 
 and their families and'';

    (2) in paragraph

    (4)
        (B) --
        (A) by striking ``a corporation'' the first place 
 it appears and inserting ``a nonprofit corporation'';
        (B) by striking ``any stockholder, executive or 
 administrative personnel,'' and inserting ``any 
 executive or administrative personnel''; and
            (C) by striking ``stockholders, executive or 
 administrative personnel,'' and inserting ``executive 
 or administrative personnel'';

    (3) in paragraph

    (4)
            (D) --
        (A) by striking ``stockholders and'';
        (B) by striking ``such stockholders or personnel'' 
 and inserting ``such personnel''; and
            (C) by striking ``such stockholders and personnel'' 
 and inserting ``such personnel''; and

    (4) in paragraph

    (5) , by striking ``stockholders and''.
            (c) Treatment of Government Contractors.--

Section 317

    (b) of such 
Act (52 U.S.C. 30119

    (b) ) is amended--

    (1) by striking ``any corporation'' and inserting ``any 
 nonprofit corporation''; and

    (2) by striking ``a corporation'' and inserting ``a 
 nonprofit corporation''.

SEC. 3. EFFECTIVE DATE; TRANSITION FOR EXISTING FUNDS AND COMMITTEES.

    (a) Effective Date.--The amendments made by this Act shall take 
effect on the date of the enactment of this Act.

    (b) Transition for Existing Funds and Committees.--In the case of a 
separate segregate fund established and operating under 

section 316

    (b)

    (2)
            (C) of the Federal Election Campaign Act of 1971 (52 U.S.C. 
30118

    (b)

    (2)
            (C) ) as of the date of the enactment of this Act which is 
not a fund of a nonprofit corporation as defined in 

section 316

    (b)

    (8) of such Act (as added by 

section 2

    (a)

    (2) ), the fund shall terminate and 
disburse its entire balance not later than 1 year after the date of the 
enactment of this Act.
 <all>