S. 118 — Inaugural Committee Transparency Act of 2025

This section amends the requirements applicable to the Presidential Inaugural Committee (i.e., the entity organizing the presidential inauguration) by (1) expanding the disclosure report filed with the Federal Election Commission within 90 days after the presidential inaugural ceremony to include, for any disbursement of $200 or more (including after the inaugural period), the recipient's name and address, date, amount, and purpose; (2) replacing the prior limitation on accepting donations from foreign nationals with detailed prohibitions making it unlawful for the committee to solicit, accept, or receive such donations; for persons to engage in straw or conduit donations; for foreign nationals (as defined in the Federal Election Campaign Act) to donate directly or indirectly; or to convert donations to personal use (i.e., fulfilling preexisting personal commitments); and (3) requiring the committee to disburse any remaining donated funds within 90 days after the ceremony to tax-exempt 501(c)(3) organizations, with the Federal Election Commission authorized to grant extensions upon request accompanied by a supplemental report.