H.R. 4786 — Honest Elections and Campaign, No Gain Act

This section establishes requirements under the Federal Election Campaign Act of 1971 (FECA) for authorized committees (i.e., a candidate's principal campaign committees) and leadership PACs (i.e., PACs established or controlled by federal candidates or officeholders to support other candidates or party activities) to disburse all unexpended funds prior to the earliest of (1) the last day of the 2-year "applicable disbursement period" beginning the day after the latest state qualification date for the next election to the same or another federal office; (2) the date the candidate first makes a lobbying contact requiring registration under the Lobbying Disclosure Act of 1995 (2 U.S.C. 1603); or (3) the date the candidate registers as an agent of a foreign principal under the Foreign Agents Registration Act of 1938 (22 U.S.C. 612). The requirement does not apply if the candidate qualifies for the next election before the disbursement period begins; disbursements must first pay committee obligations, with remaining funds limited to returning contributions, donating to organizations eligible for tax deductions under IRC §170(c) (e.g., 501(c)(3) charities), or transferring without limit to national, state, or local party committees; and disbursements to relatives of the candidate (broadly defined to include parents, siblings, children, in-laws, step-relations, and half-siblings) are prohibited except to pay reported obligations exceeding $200. This section makes a conforming amendment to FECA §313(a) subjecting contribution uses to these rules and applies to the November 2026 federal general election and all succeeding elections.

This section requires an individual who was a candidate for federal office and is registering as a lobbyist to certify, under penalty of perjury, that each authorized committee and leadership PAC (as defined in section 304(i)(8)(B) of the Federal Election Campaign Act of 1971 (FECA)) complies with FECA section 303A (relating to the disbursement of unexpended funds after the election date), for registrations filed on or after the November 2026 general election.

This section requires an individual who was a candidate for federal office and who registers as an agent of a foreign principal under the Foreign Agents Registration Act of 1938 (FARA) to certify, under penalty of perjury, that each authorized committee and leadership PAC (as defined in section 304(i)(8)(B) of the Federal Election Campaign Act of 1971 (FECA)) is in compliance with FECA section 303A (relating to the disbursement of unexpended funds after the election date). The requirement applies to registration statements filed on or after the date of the regularly scheduled general election for federal office in November 2026.