2 U.S.C. § 434 : US Code - Section 434: Reporting requirements

Search 2 U.S.C. § 434 : US Code - Section 434: Reporting requirements

    (a) Receipts and disbursements by treasurers of political
      committees; filing requirements
      (1) Each treasurer of a political committee shall file reports of
    receipts and disbursements in accordance with the provisions of
    this subsection. The treasurer shall sign each such report.
      (2) If the political committee is the principal campaign
    committee of a candidate for the House of Representatives or for
    the Senate - 
        (A) in any calendar year during which there is (!1) regularly
      scheduled election for which such candidate is seeking election,
      or nomination for election, the treasurer shall file the
      following reports:

          (i) a pre-election report, which shall be filed no later than
        the 12th day before (or posted by any of the following:
        registered mail, certified mail, priority mail having a
        delivery confirmation, or express mail having a delivery
        confirmation, or delivered to an overnight delivery service
        with an on-line tracking system, if posted or delivered no
        later than the 15th day before) any election in which such
        candidate is seeking election, or nomination for election, and
        which shall be complete as of the 20th day before such
        election;
          (ii) a post-general election report, which shall be filed no
        later than the 30th day after any general election in which
        such candidate has sought election, and which shall be complete
        as of the 20th day after such general election; and
          (iii) additional quarterly reports, which shall be filed no
        later than the 15th day after the last day of each calendar
        quarter, and which shall be complete as of the last day of each
        calendar quarter: except that the report for the quarter ending
        December 31 shall be filed no later than January 31 of the
        following calendar year; and

        (B) in any other calendar year the treasurer shall file
      quarterly reports, which shall be filed not later than the 15th
      day after the last day of each calendar quarter, and which shall
      be complete as of the last day of each calendar quarter, except
      that the report for the quarter ending December 31 shall be filed
      not later than January 31 of the following calendar year.

      (3) If the committee is the principal campaign committee of a
    candidate for the office of President - 
        (A) in any calendar year during which a general election is
      held to fill such office - 
          (i) the treasurer shall file monthly reports if such
        committee has on January 1 of such year, received contributions
        aggregating $100,000 or made expenditures aggregating $100,000
        or anticipates receiving contributions aggregating $100,000 or
        more or making expenditures aggregating $100,000 or more during
        such year: such monthly reports shall be filed no later than
        the 20th day after the last day of each month and shall be
        complete as of the last day of the month, except that, in lieu
        of filing the report otherwise due in November and December, a
        pre-general election report shall be filed in accordance with
        paragraph (2)(A)(i), a post-general election report shall be
        filed in accordance with paragraph (2)(A)(ii), and a year end
        report shall be filed no later than January 31 of the following
        calendar year;
          (ii) the treasurer of the other principal campaign committees
        of a candidate for the office of President shall file a pre-
        election report or reports in accordance with paragraph
        (2)(A)(i), a post-general election report in accordance with
        paragraph (2)(A)(ii), and quarterly reports in accordance with
        paragraph (2)(A)(iii); and
          (iii) if at any time during the election year a committee
        filing under paragraph (3)(A)(ii) receives contributions in
        excess of $100,000 or makes expenditures in excess of $100,000,
        the treasurer shall begin filing monthly reports under
        paragraph (3)(A)(i) at the next reporting period; and

        (B) in any other calendar year, the treasurer shall file either
      - 
          (i) monthly reports, which shall be filed no later than the
        20th day after the last day of each month and shall be complete
        as of the last day of the month; or
          (ii) quarterly reports, which shall be filed no later than
        the 15th day after the last day of each calendar quarter and
        which shall be complete as of the last day of each calendar
        quarter.

      (4) All political committees other than authorized committees of
    a candidate shall file either - 
        (A)(i) quarterly reports, in a calendar year in which a
      regularly scheduled general election is held, which shall be
      filed no later than the 15th day after the last day of each
      calendar quarter: except that the report for the quarter ending
      on December 31 of such calendar year shall be filed no later than
      January 31 of the following calendar year;
        (ii) a pre-election report, which shall be filed no later than
      the 12th day before (or posted by any of the following:
      registered mail, certified mail, priority mail having a delivery
      confirmation, or express mail having a delivery confirmation, or
      delivered to an overnight delivery service with an on-line
      tracking system, if posted or delivered no later than the 15th
      day before) any election in which the committee makes a
      contribution to or expenditure on behalf of a candidate in such
      election, and which shall be complete as of the 20th day before
      the election;
        (iii) a post-general election report, which shall be filed no
      later than the 30th day after the general election and which
      shall be complete as of the 20th day after such general election;
      and
        (iv) in any other calendar year, a report covering the period
      beginning January 1 and ending June 30, which shall be filed no
      later than July 31 and a report covering the period beginning
      July 1 and ending December 31, which shall be filed no later than
      January 31 of the following calendar year; or
        (B) monthly reports in all calendar years which shall be filed
      no later than the 20th day after the last day of the month and
      shall be complete as of the last day of the month, except that,
      in lieu of filing the reports otherwise due in November and
      December of any year in which a regularly scheduled general
      election is held, a pre-general election report shall be filed in
      accordance with paragraph (2)(A)(i), a post-general election
      report shall be filed in accordance with paragraph (2)(A)(ii),
      and a year end report shall be filed no later than January 31 of
      the following calendar year.

    Notwithstanding the preceding sentence, a national committee of a
    political party shall file the reports required under subparagraph
    (B).
      (5) If a designation, report, or statement filed pursuant to this
    Act (other than under paragraph (2)(A)(i) or (4)(A)(ii) or
    subsection (g)(1) of this section) is sent by registered mail,
    certified mail, priority mail having a delivery confirmation, or
    express mail having a delivery confirmation, the United States
    postmark shall be considered the date of filing the designation,
    report or statement. If a designation, report or statement filed
    pursuant to this Act (other than under paragraph (2)(A)(i) or
    (4)(A)(ii), or subsection (g)(1) of this section) is sent by an
    overnight delivery service with an on-line tracking system, the
    date on the proof of delivery to the delivery service shall be
    considered the date of filing of the designation, report, or
    statement.
      (6)(A) The principal campaign committee of a candidate shall
    notify the Secretary or the Commission, and the Secretary of State,
    as appropriate, in writing, of any contribution of $1,000 or more
    received by any authorized committee of such candidate after the
    20th day, but more than 48 hours before, any election. This
    notification shall be made within 48 hours after the receipt of
    such contribution and shall include the name of the candidate and
    the office sought by the candidate, the identification of the
    contributor, and the date of receipt and amount of the
    contribution.
      (B) Notification of expenditure from personal funds. - 
        (i) Definition of expenditure from personal funds. - In this
      subparagraph, the term "expenditure from personal funds" means - 
          (I) an expenditure made by a candidate using personal funds;
        and
          (II) a contribution or loan made by a candidate using
        personal funds or a loan secured using such funds to the
        candidate's authorized committee.

        (ii) Declaration of intent. - Not later than the date that is
      15 days after the date on which an individual becomes a candidate
      for the office of Senator, the candidate shall file a declaration
      stating the total amount of expenditures from personal funds that
      the candidate intends to make, or to obligate to make, with
      respect to the election that will exceed the State-by-State
      competitive and fair campaign formula with - 
          (I) the Commission; and
          (II) each candidate in the same election.

        (iii) Initial notification. - Not later than 24 hours after a
      candidate described in clause (ii) makes or obligates to make an
      aggregate amount of expenditures from personal funds in excess of
      2 times the threshold amount in connection with any election, the
      candidate shall file a notification with - 
          (I) the Commission; and
          (II) each candidate in the same election.

        (iv) Additional notification. - After a candidate files an
      initial notification under clause (iii), the candidate shall file
      an additional notification each time expenditures from personal
      funds are made or obligated to be made in an aggregate amount
      that exceed (!2) $10,000 with - 

          (I) the Commission; and
          (II) each candidate in the same election.

      Such notification shall be filed not later than 24 hours after
      the expenditure is made.
        (v) Contents. - A notification under clause (iii) or (iv) shall
      include - 
          (I) the name of the candidate and the office sought by the
        candidate;
          (II) the date and amount of each expenditure; and
          (III) the total amount of expenditures from personal funds
        that the candidate has made, or obligated to make, with respect
        to an election as of the date of the expenditure that is the
        subject of the notification.

      (C) Notification of disposal of excess contributions. - In the
    next regularly scheduled report after the date of the election for
    which a candidate seeks nomination for election to, or election to,
    Federal office, the candidate or the candidate's authorized
    committee shall submit to the Commission a report indicating the
    source and amount of any excess contributions (as determined under
    paragraph (1) of section 441a(i) of this title) and the manner in
    which the candidate or the candidate's authorized committee used
    such funds.
      (D) Enforcement. - For provisions providing for the enforcement
    of the reporting requirements under this paragraph, see section
    437g of this title.
      (E) The notification required under this paragraph shall be in
    addition to all other reporting requirements under this Act.
      (7) The reports required to be filed by this subsection shall be
    cumulative during the calendar year to which they relate, but where
    there has been no change in an item reported in a previous report
    during such year, only the amount need be carried forward.
      (8) The requirement for a political committee to file a quarterly
    report under paragraph (2)(A)(iii) or paragraph (4)(A)(i) shall be
    waived if such committee is required to file a pre-election report
    under paragraph (2)(A)(i), or paragraph (4)(A)(ii) during the
    period beginning on the 5th day after the close of the calendar
    quarter and ending on the 15th day after the close of the calendar
    quarter.
      (9) The Commission shall set filing dates for reports to be filed
    by principal campaign committees of candidates seeking election, or
    nomination for election, in special elections and political
    committees filing under paragraph (4)(A) which make contributions
    to or expenditures on behalf of a candidate or candidates in
    special elections. The Commission shall require no more than one
    pre-election report for each election and one post-election report
    for the election which fills the vacancy. The Commission may waive
    any reporting obligation of committees required to file for special
    elections if any report required by paragraph (2) or (4) is
    required to be filed within 10 days of a report required under this
    subsection. The Commission shall establish the reporting dates
    within 5 days of the setting of such election and shall publish
    such dates and notify the principal campaign committees of all
    candidates in such election of the reporting dates.
      (10) The treasurer of a committee supporting a candidate for the
    office of Vice President (other than the nominee of a political
    party) shall file reports in accordance with paragraph (3).
      (11)(A) The Commission shall promulgate a regulation under which
    a person required to file a designation, statement, or report under
    this Act - 
        (i) is required to maintain and file a designation, statement,
      or report for any calendar year in electronic form accessible by
      computers if the person has, or has reason to expect to have,
      aggregate contributions or expenditures in excess of a threshold
      amount determined by the Commission; and
        (ii) may maintain and file a designation, statement, or report
      in electronic form or an alternative form if not required to do
      so under the regulation promulgated under clause (i).

      (B) The Commission shall make a designation, statement, report,
    or notification that is filed with the Commission under this Act
    available for inspection by the public in the offices of the
    Commission and accessible to the public on the Internet not later
    than 48 hours (or not later than 24 hours in the case of a
    designation, statement, report, or notification filed
    electronically) after receipt by the Commission.
      (C) In promulgating a regulation under this paragraph, the
    Commission shall provide methods (other than requiring a signature
    on the document being filed) for verifying designations,
    statements, and reports covered by the regulation. Any document
    verified under any of the methods shall be treated for all purposes
    (including penalties for perjury) in the same manner as a document
    verified by signature.
      (D) As used in this paragraph, the term "report" means, with
    respect to the Commission, a report, designation, or statement
    required by this Act to be filed with the Commission.
      (12) Software for filing of reports. - 
        (A) In general. - The Commission shall - 
          (i) promulgate standards to be used by vendors to develop
        software that - 
            (I) permits candidates to easily record information
          concerning receipts and disbursements required to be reported
          under this Act at the time of the receipt or disbursement;
            (II) allows the information recorded under subclause (I) to
          be transmitted immediately to the Commission; and
            (III) allows the Commission to post the information on the
          Internet immediately upon receipt; and

          (ii) make a copy of software that meets the standards
        promulgated under clause (i) available to each person required
        to file a designation, statement, or report in electronic form
        under this Act.

        (B) Additional information. - To the extent feasible, the
      Commission shall require vendors to include in the software
      developed under the standards under subparagraph (A) the ability
      for any person to file any designation, statement, or report
      required under this Act in electronic form.
        (C) Required use. - Notwithstanding any provision of this Act
      relating to times for filing reports, each candidate for Federal
      office (or that candidate's authorized committee) shall use
      software that meets the standards promulgated under this
      paragraph once such software is made available to such candidate.
        (D) Required posting. - The Commission shall, as soon as
      practicable, post on the Internet any information received under
      this paragraph.
    (b) Contents of reports
      Each report under this section shall disclose - 
        (1) the amount of cash on hand at the beginning of the
      reporting period;
        (2) for the reporting period and the calendar year (or election
      cycle, in the case of an authorized committee of a candidate for
      Federal office), the total amount of all receipts, and the total
      amount of all receipts in the following categories:
          (A) contributions from persons other than political
        committees;
          (B) for an authorized committee, contributions from the
        candidate;
          (C) contributions from political party committees;
          (D) contributions from other political committees;
          (E) for an authorized committee, transfers from other
        authorized committees of the same candidate;
          (F) transfers from affiliated committees and, where the
        reporting committee is a political party committee, transfers
        from other political party committees, regardless of whether
        such committees are affiliated;
          (G) for an authorized committee, loans made by or guaranteed
        by the candidate;
          (H) all other loans;
          (I) rebates, refunds, and other offsets to operating
        expenditures;
          (J) dividends, interest, and other forms of receipts; and
          (K) for an authorized committee of a candidate for the office
        of President, Federal funds received under chapter 95 and
        chapter 96 of title 26;

        (3) the identification of each - 
          (A) person (other than a political committee) who makes a
        contribution to the reporting committee during the reporting
        period, whose contribution or contributions have an aggregate
        amount or value in excess of $200 within the calendar year (or
        election cycle, in the case of an authorized committee of a
        candidate for Federal office), or in any lesser amount if the
        reporting committee should so elect, together with the date and
        amount of any such contribution;
          (B) political committee which makes a contribution to the
        reporting committee during the reporting period, together with
        the date and amount of any such contribution;
          (C) authorized committee which makes a transfer to the
        reporting committee;
          (D) affiliated committee which makes a transfer to the
        reporting committee during the reporting period and, where the
        reporting committee is a political party committee, each
        transfer of funds to the reporting committee from another
        political party committee, regardless of whether such
        committees are affiliated, together with the date and amount of
        such transfer;
          (E) person who makes a loan to the reporting committee during
        the reporting period, together with the identification of any
        endorser or guarantor of such loan, and the date and amount or
        value of such loan;
          (F) person who provides a rebate, refund, or other offset to
        operating expenditures to the reporting committee in an
        aggregate amount or value in excess of $200 within the calendar
        year (or election cycle, in the case of an authorized committee
        of a candidate for Federal office), together with the date and
        amount of such receipt; and
          (G) person who provides any dividend, interest, or other
        receipt to the reporting committee in an aggregate value or
        amount in excess of $200 within the calendar year (or election
        cycle, in the case of an authorized committee of a candidate
        for Federal office), together with the date and amount of any
        such receipt;

        (4) for the reporting period and the calendar year (or election
      cycle, in the case of an authorized committee of a candidate for
      Federal office), the total amount of all disbursements, and all
      disbursements in the following categories:
          (A) expenditures made to meet candidate or committee
        operating expenses;
          (B) for authorized committees, transfers to other committees
        authorized by the same candidate;
          (C) transfers to affiliated committees and, where the
        reporting committee is a political party committee, transfers
        to other political party committees, regardless of whether they
        are affiliated;
          (D) for an authorized committee, repayment of loans made by
        or guaranteed by the candidate;
          (E) repayment of all other loans;
          (F) contribution refunds and other offsets to contributions;
          (G) for an authorized committee, any other disbursements;
          (H) for any political committee other than an authorized
        committee - 
            (i) contributions made to other political committees;
            (ii) loans made by the reporting committees;
            (iii) independent expenditures;
            (iv) expenditures made under section 441a(d) of this title;
          and
            (v) any other disbursements; and

          (I) for an authorized committee of a candidate for the office
        of President, disbursements not subject to the limitation of
        section 441a(b) of this title;

        (5) the name and address of each - 
          (A) person to whom an expenditure in an aggregate amount or
        value in excess of $200 within the calendar year is made by the
        reporting committee to meet a candidate or committee operating
        expense, together with the date, amount, and purpose of such
        operating expenditure;
          (B) authorized committee to which a transfer is made by the
        reporting committee;
          (C) affiliated committee to which a transfer is made by the
        reporting committee during the reporting period and, where the
        reporting committee is a political party committee, each
        transfer of funds by the reporting committee to another
        political party committee, regardless of whether such
        committees are affiliated, together with the date and amount of
        such transfers;
          (D) person who receives a loan repayment from the reporting
        committee during the reporting period, together with the date
        and amount of such loan repayment; and
          (E) person who receives a contribution refund or other offset
        to contributions from the reporting committee where such
        contribution was reported under paragraph (3)(A) of this
        subsection, together with the date and amount of such
        disbursement;

        (6)(A) for an authorized committee, the name and address of
      each person who has received any disbursement not disclosed under
      paragraph (5) in an aggregate amount or value in excess of $200
      within the calendar year (or election cycle, in the case of an
      authorized committee of a candidate for Federal office), together
      with the date and amount of any such disbursement;
        (B) for any other political committee, the name and address of
      each - 
          (i) political committee which has received a contribution
        from the reporting committee during the reporting period,
        together with the date and amount of any such contribution;
          (ii) person who has received a loan from the reporting
        committee during the reporting period, together with the date
        and amount of such loan;
          (iii) person who receives any disbursement during the
        reporting period in an aggregate amount or value in excess of
        $200 within the calendar year (or election cycle, in the case
        of an authorized committee of a candidate for Federal office),
        in connection with an independent expenditure by the reporting
        committee, together with the date, amount, and purpose of any
        such independent expenditure and a statement which indicates
        whether such independent expenditure is in support of, or in
        opposition to, a candidate, as well as the name and office
        sought by such candidate, and a certification, under penalty of
        perjury, whether such independent expenditure is made in
        cooperation, consultation, or concert, with, or at the request
        or suggestion of, any candidate or any authorized committee or
        agent of such committee;
          (iv) person who receives any expenditure from the reporting
        committee during the reporting period in connection with an
        expenditure under section 441a(d) of this title, together with
        the date, amount, and purpose of any such expenditure as well
        as the name of, and office sought by, the candidate on whose
        behalf the expenditure is made; and
          (v) person who has received any disbursement not otherwise
        disclosed in this paragraph or paragraph (5) in an aggregate
        amount or value in excess of $200 within the calendar year (or
        election cycle, in the case of an authorized committee of a
        candidate for Federal office), from the reporting committee
        within the reporting period, together with the date, amount,
        and purpose of any such disbursement;

        (7) the total sum of all contributions to such political
      committee, together with the total contributions less offsets to
      contributions and the total sum of all operating expenditures
      made by such political committee, together with total operating
      expenditures less offsets to operating expenditures, for both the
      reporting period and the calendar year (or election cycle, in the
      case of an authorized committee of a candidate for Federal
      office); and
        (8) the amount and nature of outstanding debts and obligations
      owed by or to such political committee; and where such debts and
      obligations are settled for less than their reported amount or
      value, a statement as to the circumstances and conditions under
      which such debts or obligations were extinguished and the
      consideration therefor.
    (c) Statements by other than political committees; filing;
      contents; indices of expenditures
      (1) Every person (other than a political committee) who makes
    independent expenditures in an aggregate amount or value in excess
    of $250 during a calendar year shall file a statement containing
    the information required under subsection (b)(3)(A) of this section
    for all contributions received by such person.
      (2) Statements required to be filed by this subsection shall be
    filed in accordance with subsection (a)(2) of this section, and
    shall include - 
        (A) the information required by subsection (b)(6)(B)(iii) of
      this section, indicating whether the independent expenditure is
      in support of, or in opposition to, the candidate involved;
        (B) under penalty of perjury, a certification whether or not
      such independent expenditure is made in cooperation,
      consultation, or concert, with, or at the request or suggestion
      of, any candidate or any authorized committee or agent of such
      candidate; and
        (C) the identification of each person who made a contribution
      in excess of $200 to the person filing such statement which was
      made for the purpose of furthering an independent expenditure.

      (3) The Commission shall be responsible for expeditiously
    preparing indices which set forth, on a candidate-by-candidate
    basis, all independent expenditures separately, including those
    reported under subsection (b)(6)(B)(iii) of this section, made by
    or for each candidate, as reported under this subsection, and for
    periodically publishing such indices on a timely pre-election
    basis.
    (d) Filing by facsimile device or electronic mail
      (1) Any person who is required to file a statement under
    subsection (c) or (g) of this section, except statements required
    to be filed electronically pursuant to subsection (a)(11)(A)(i) of
    this section may file the statement by facsimile device or
    electronic mail, in accordance with such regulations as the
    Commission may promulgate.
      (2) The Commission shall make a document which is filed
    electronically with the Commission pursuant to this paragraph
    accessible to the public on the Internet not later than 24 hours
    after the document is received by the Commission.
      (3) In promulgating a regulation under this paragraph, the
    Commission shall provide methods (other than requiring a signature
    on the document being filed) for verifying the documents covered by
    the regulation. Any document verified under any of the methods
    shall be treated for all purposes (including penalties for perjury)
    in the same manner as a document verified by signature.
    (e) Political committees
      (1) National and congressional political committees
        The national committee of a political party, any national
      congressional campaign committee of a political party, and any
      subordinate committee of either, shall report all receipts and
      disbursements during the reporting period.
      (2) Other political committees to which section 441i applies
        (A) In general
          In addition to any other reporting requirements applicable
        under this Act, a political committee (not described in
        paragraph (1)) to which section 441i(b)(1) of this title
        applies shall report all receipts and disbursements made for
        activities described in section 431(20)(A) of this title,
        unless the aggregate amount of such receipts and disbursements
        during the calendar year is less than $5,000.
        (B) Specific disclosure by State and local parties of certain
          non-Federal amounts permitted to be spent on Federal election
          activity
          Each report by a political committee under subparagraph (A)
        of receipts and disbursements made for activities described in
        section 431(20)(A) of this title shall include a disclosure of
        all receipts and disbursements described in section
        441i(b)(2)(A) and (B) of this title.
      (3) Itemization
        If a political committee has receipts or disbursements to which
      this subsection applies from or to any person aggregating in
      excess of $200 for any calendar year, the political committee
      shall separately itemize its reporting for such person in the
      same manner as required in paragraphs (3)(A), (5), and (6) of
      subsection (b) of this section.
      (4) Reporting periods
        Reports required to be filed under this subsection shall be
      filed for the same time periods required for political committees
      under subsection (a)(4)(B) of this section.
    (f) Disclosure of electioneering communications
      (1) Statement required
        Every person who makes a disbursement for the direct costs of
      producing and airing electioneering communications in an
      aggregate amount in excess of $10,000 during any calendar year
      shall, within 24 hours of each disclosure date, file with the
      Commission a statement containing the information described in
      paragraph (2).
      (2) Contents of statement
        Each statement required to be filed under this subsection shall
      be made under penalty of perjury and shall contain the following
      information:
          (A) The identification of the person making the disbursement,
        of any person sharing or exercising direction or control over
        the activities of such person, and of the custodian of the
        books and accounts of the person making the disbursement.
          (B) The principal place of business of the person making the
        disbursement, if not an individual.
          (C) The amount of each disbursement of more than $200 during
        the period covered by the statement and the identification of
        the person to whom the disbursement was made.
          (D) The elections to which the electioneering communications
        pertain and the names (if known) of the candidates identified
        or to be identified.
          (E) If the disbursements were paid out of a segregated bank
        account which consists of funds contributed solely by
        individuals who are United States citizens or nationals or
        lawfully admitted for permanent residence (as defined in
        section 1101(a)(20) of title 8) directly to this account for
        electioneering communications, the names and addresses of all
        contributors who contributed an aggregate amount of $1,000 or
        more to that account during the period beginning on the first
        day of the preceding calendar year and ending on the disclosure
        date. Nothing in this subparagraph is to be construed as a
        prohibition on the use of funds in such a segregated account
        for a purpose other than electioneering communications.
          (F) If the disbursements were paid out of funds not described
        in subparagraph (E), the names and addresses of all
        contributors who contributed an aggregate amount of $1,000 or
        more to the person making the disbursement during the period
        beginning on the first day of the preceding calendar year and
        ending on the disclosure date.
      (3) Electioneering communication
        For purposes of this subsection - 
        (A) In general
          (i) The term "electioneering communication" means any
        broadcast, cable, or satellite communication which - 
            (I) refers to a clearly identified candidate for Federal
          office;
            (II) is made within - 
              (aa) 60 days before a general, special, or runoff
            election for the office sought by the candidate; or
              (bb) 30 days before a primary or preference election, or
            a convention or caucus of a political party that has
            authority to nominate a candidate, for the office sought by
            the candidate; and

            (III) in the case of a communication which refers to a
          candidate for an office other than President or Vice
          President, is targeted to the relevant electorate.

          (ii) If clause (i) is held to be constitutionally
        insufficient by final judicial decision to support the
        regulation provided herein, then the term "electioneering
        communication" means any broadcast, cable, or satellite
        communication which promotes or supports a candidate for that
        office, or attacks or opposes a candidate for that office
        (regardless of whether the communication expressly advocates a
        vote for or against a candidate) and which also is suggestive
        of no plausible meaning other than an exhortation to vote for
        or against a specific candidate. Nothing in this subparagraph
        shall be construed to affect the interpretation or application
        of section 100.22(b) of title 11, Code of Federal Regulations.
        (B) Exceptions
          The term "electioneering communication" does not include - 
            (i) a communication appearing in a news story, commentary,
          or editorial distributed through the facilities of any
          broadcasting station, unless such facilities are owned or
          controlled by any political party, political committee, or
          candidate;
            (ii) a communication which constitutes an expenditure or an
          independent expenditure under this Act;
            (iii) a communication which constitutes a candidate debate
          or forum conducted pursuant to regulations adopted by the
          Commission, or which solely promotes such a debate or forum
          and is made by or on behalf of the person sponsoring the
          debate or forum; or
            (iv) any other communication exempted under such
          regulations as the Commission may promulgate (consistent with
          the requirements of this paragraph) to ensure the appropriate
          implementation of this paragraph, except that under any such
          regulation a communication may not be exempted if it meets
          the requirements of this paragraph and is described in
          section 431(20)(A)(iii) of this title.
        (C) Targeting to relevant electorate
          For purposes of this paragraph, a communication which refers
        to a clearly identified candidate for Federal office is
        "targeted to the relevant electorate" if the communication can
        be received by 50,000 or more persons - 
            (i) in the district the candidate seeks to represent, in
          the case of a candidate for Representative in, or Delegate or
          Resident Commissioner to, the Congress; or
            (ii) in the State the candidate seeks to represent, in the
          case of a candidate for Senator.
      (4) Disclosure date
        For purposes of this subsection, the term "disclosure date"
      means - 
          (A) the first date during any calendar year by which a person
        has made disbursements for the direct costs of producing or
        airing electioneering communications aggregating in excess of
        $10,000; and
          (B) any other date during such calendar year by which a
        person has made disbursements for the direct costs of producing
        or airing electioneering communications aggregating in excess
        of $10,000 since the most recent disclosure date for such
        calendar year.
      (5) Contracts to disburse
        For purposes of this subsection, a person shall be treated as
      having made a disbursement if the person has executed a contract
      to make the disbursement.
      (6) Coordination with other requirements
        Any requirement to report under this subsection shall be in
      addition to any other reporting requirement under this Act.
      (7) Coordination with title 26
        Nothing in this subsection may be construed to establish,
      modify, or otherwise affect the definition of political
      activities or electioneering activities (including the definition
      of participating in, intervening in, or influencing or attempting
      to influence a political campaign on behalf of or in opposition
      to any candidate for public office) for purposes of title 26.
    (g) Time for reporting certain expenditures
      (1) Expenditures aggregating $1,000
        (A) Initial report
          A person (including a political committee) that makes or
        contracts to make independent expenditures aggregating $1,000
        or more after the 20th day, but more than 24 hours, before the
        date of an election shall file a report describing the
        expenditures within 24 hours.
        (B) Additional reports
          After a person files a report under subparagraph (A), the
        person shall file an additional report within 24 hours after
        each time the person makes or contracts to make independent
        expenditures aggregating an additional $1,000 with respect to
        the same election as that to which the initial report relates.
      (2) Expenditures aggregating $10,000
        (A) Initial report
          A person (including a political committee) that makes or
        contracts to make independent expenditures aggregating $10,000
        or more at any time up to and including the 20th day before the
        date of an election shall file a report describing the
        expenditures within 48 hours.
        (B) Additional reports
          After a person files a report under subparagraph (A), the
        person shall file an additional report within 48 hours after
        each time the person makes or contracts to make independent
        expenditures aggregating an additional $10,000 with respect to
        the same election as that to which the initial report relates.
      (3) Place of filing; contents
        A report under this subsection - 
          (A) shall be filed with the Commission; and
          (B) shall contain the information required by subsection
        (b)(6)(B)(iii) of this section, including the name of each
        candidate whom an expenditure is intended to support or oppose.
      (4) Time of filing for expenditures aggregating $1,000
        Notwithstanding subsection (a)(5) of this section, the time at
      which the statement under paragraph (1) is received by the
      Commission or any other recipient to whom the notification is
      required to be sent shall be considered the time of filing of the
      statement with the recipient.
    (h) Reports from Inaugural Committees
      The Federal Election Commission shall make any report filed by an
    Inaugural Committee under section 510 of title 36 accessible to the
    public at the offices of the Commission and on the Internet not
    later than 48 hours after the report is received by the Commission.
    (i) Disclosure of bundled contributions
      (1) Required disclosure
        Each committee described in paragraph (6) shall include in the
      first report required to be filed under this section after each
      covered period (as defined in paragraph (2)) a separate schedule
      setting forth the name, address, and employer of each person
      reasonably known by the committee to be a person described in
      paragraph (7) who provided 2 or more bundled contributions to the
      committee in an aggregate amount greater than the applicable
      threshold (as defined in paragraph (3)) during the covered
      period, and the aggregate amount of the bundled contributions
      provided by each such person during the covered period.
      (2) Covered period
        In this subsection, a "covered period" means, with respect to a
      committee - 
          (A) the period beginning January 1 and ending June 30 of each
        year;
          (B) the period beginning July 1 and ending December 31 of
        each year; and
          (C) any reporting period applicable to the committee under
        this section during which any person described in paragraph (7)
        provided 2 or more bundled contributions to the committee in an
        aggregate amount greater than the applicable threshold.
      (3) Applicable threshold
        (A) In general
          In this subsection, the "applicable threshold" is $15,000,
        except that in determining whether the amount of bundled
        contributions provided to a committee by a person described in
        paragraph (7) exceeds the applicable threshold, there shall be
        excluded any contribution made to the committee by the person
        or the person's spouse.
        (B) Indexing
          In any calendar year after 2007, section 441a(c)(1)(B) of
        this title shall apply to the amount applicable under
        subparagraph (A) in the same manner as such section applies to
        the limitations established under subsections (a)(1)(A),
        (a)(1)(B), (a)(3), and (h) of such section, except that for
        purposes of applying such section to the amount applicable
        under subparagraph (A), the "base period" shall be 2006.
      (4) Public availability
        The Commission shall ensure that, to the greatest extent
      practicable - 
          (A) information required to be disclosed under this
        subsection is publicly available through the Commission website
        in a manner that is searchable, sortable, and downloadable; and
          (B) the Commission's public database containing information
        disclosed under this subsection is linked electronically to the
        websites maintained by the Secretary of the Senate and the
        Clerk of the House of Representatives containing information
        filed pursuant to the Lobbying Disclosure Act of 1995 [2 U.S.C.
        1601 et seq.].
      (5) Regulations
        Not later than 6 months after September 14, 2007, the
      Commission shall promulgate regulations to implement this
      subsection. Under such regulations, the Commission - 
          (A) may, notwithstanding paragraphs (1) and (2), provide for
        quarterly filing of the schedule described in paragraph (1) by
        a committee which files reports under this section more
        frequently than on a quarterly basis;
          (B) shall provide guidance to committees with respect to
        whether a person is reasonably known by a committee to be a
        person described in paragraph (7), which shall include a
        requirement that committees consult the websites maintained by
        the Secretary of the Senate and the Clerk of the House of
        Representatives containing information filed pursuant to the
        Lobbying Disclosure Act of 1995;
          (C) may not exempt the activity of a person described in
        paragraph (7) from disclosure under this subsection on the
        grounds that the person is authorized to engage in fundraising
        for the committee or any other similar grounds; and
          (D) shall provide for the broadest possible disclosure of
        activities described in this subsection by persons described in
        paragraph (7) that is consistent with this subsection.
      (6) Committees described
        A committee described in this paragraph is an authorized
      committee of a candidate, a leadership PAC, or a political party
      committee.
      (7) Persons described
        A person described in this paragraph is any person, who, at the
      time a contribution is forwarded to a committee as described in
      paragraph (8)(A)(i) or is received by a committee as described in
      paragraph (8)(A)(ii), is - 
          (A) a current registrant under section 4(a) of the Lobbying
        Disclosure Act of 1995 [2 U.S.C. 1603(a)];
          (B) an individual who is listed on a current registration
        filed under section 4(b)(6) of such Act [2 U.S.C. 1603(b)(6)]
        or a current report under section 5(b)(2)(C) of such Act [2
        U.S.C. 1604(b)(2)(C)]; or
          (C) a political committee established or controlled by such a
        registrant or individual.
      (8) Definitions
        For purposes of this subsection, the following definitions
      apply:
        (A) Bundled contribution
          The term "bundled contribution" means, with respect to a
        committee described in paragraph (6) and a person described in
        paragraph (7), a contribution (subject to the applicable
        threshold) which is - 
            (i) forwarded from the contributor or contributors to the
          committee by the person; or
            (ii) received by the committee from a contributor or
          contributors, but credited by the committee or candidate
          involved (or, in the case of a leadership PAC, by the
          individual referred to in subparagraph (B) involved) to the
          person through records, designations, or other means of
          recognizing that a certain amount of money has been raised by
          the person.
        (B) Leadership PAC
          The term "leadership PAC" means, with respect to a candidate
        for election to Federal office or an individual holding Federal
        office, a political committee that is directly or indirectly
        established, financed, maintained or controlled by the
        candidate or the individual but which is not an authorized
        committee of the candidate or individual and which is not
        affiliated with an authorized committee of the candidate or
        individual, except that such term does not include a political
        committee of a political party.