S. 3991 — DISCLOSE Act of 2026

This section revises the definitions applicable to the prohibition on foreign national contributions, donations, expenditures, and related activities in connection with U.S. elections by redesignating the definition of "foreign national" as paragraph (1) and adding new paragraph (2). New paragraph (2) defines "contribution or donation," for purposes of the prohibition, to include (1) any disbursement to a political committee that accepts donations or contributions not complying with Federal Election Campaign Act (FECA) limitations, prohibitions, or reporting requirements (or to or on behalf of any account of such a committee established for that purpose); or (2) any disbursement to any other person for the purpose of funding an expenditure, independent expenditure, or electioneering communication. (Thus, the prohibition applies to foreign disbursements to certain political committees and accounts, including those used for dark money election activities.)

This section directs the Comptroller General to conduct a study on the incidence of illicit foreign money (i.e., any contribution, donation, expenditure, or disbursement prohibited under FECA by a foreign national) in all Federal elections (as defined in FECA) for each 4-year election cycle (i.e., the 4-year period ending on the date of the presidential general election), beginning with the cycle ending in 2024 and through the cycle ending in 2036, and to submit a report on the study to the House and Senate Committees on House Administration, Rules and Administration, and the Judiciary by the applicable date (1 year after enactment for the 2024 cycle and 1 year after the end of each subsequent cycle). The report must describe the extent to which such money was used to target particular groups, including rural communities, African-American and other minority communities, and military and veteran communities, based on available information.

This section amends sec. 319(b) of the Federal Election Campaign Act of 1971 (FECA) (52 U.S.C. 30121(b)) to expand the definition of "Federal, State, or local election" to include a state or local ballot initiative or referendum—but only with respect to (1) a covered foreign national or (2) a foreign principal described in sec. 1(b)(2) or (b)(3) of the Foreign Agents Registration Act of 1938 (FARA) (22 U.S.C. 611(b)(2), (b)(3)) or an agent of such a foreign principal. A covered foreign national includes (1) a FARA foreign principal that is a government of a foreign country or a foreign political party, (2) any agent thereof, or (3) any specially designated national or blocked person (under Office of Foreign Assets Control sanctions related to such a foreign principal); for U.S. citizens, the agent prong applies only within the scope of their agency status. The amendment applies to elections held in 2026 or any succeeding year.

This section revises the prohibition on foreign nationals making contributions, donations, expenditures, or disbursements in connection with U.S. elections (52 U.S.C. 30121(a)(1)) by replacing subparagraph (C)—which previously covered expenditures, independent expenditures, or disbursements for electioneering communications—with new subparagraphs (C) through (J) that separately prohibit (C) an expenditure; (D) an independent expenditure; (E) a disbursement for an electioneering communication; (F) a paid online communication (website, web application, or digital application) referring to a clearly identified Federal candidate within 60 days of a general, special, or runoff election or 30 days of a primary, preference election, convention, or caucus; (G) by a covered foreign national, a broadcast, cable, satellite, or paid online communication promoting, supporting, attacking, or opposing any clearly identified candidate for Federal, State, or local office (regardless of express advocacy); (H) by a covered foreign national on an online platform, a broadcast, cable, satellite, or paid online communication discussing a national legislative issue of public importance in a Federal general election year; (I) by a covered foreign national to compensate any person for internet activity promoting, supporting, attacking, or opposing any clearly identified candidate for Federal, State, or local office (regardless of express advocacy); and (J) by a covered foreign national for a Federal judicial nomination communication. (As background, the foreign nationals ban prohibits non-U.S. citizens who are not permanent residents, and certain foreign principals, from funding U.S. election activity to protect electoral integrity from foreign influence.) This section further defines "online platform" in subsection (b)(5) as a public-facing website, web application, or digital application (including social networks, ad networks, or search engines) with 50,000,000 or more unique monthly U.S. visitors or users for a majority of the prior 12 months that sells qualified political advertisements, or certain third-party advertising vendors meeting the same threshold (excluding traditional broadcast or print media distribution facilities); and applies these amendments to disbursements made on or after enactment.

This section establishes a new criminal offense under 18 U.S.C. chapter 29 for an owner, officer, attorney, or incorporation agent of a corporation, company, or other entity who establishes or uses such entity with intent to conceal prohibited election contributions, donations, expenditures, or related activities by a foreign national (as defined in 52 U.S.C. 30121(a)). Violations are punishable by imprisonment for not more than five years, a fine under title 18, or both.

This section revises section 324 of the Federal Election Campaign Act of 1971 to require covered organizations making campaign-related disbursements aggregating more than $10,000 in an election reporting cycle to file disclosure statements with the FEC within 24 hours after each disclosure date, covering specified periods beginning from the cycle's start (or one year prior) and including the following information: (1) the organization's name, principal place of business, and—for corporations (other than SEC-registered securities issuers under 15 U.S.C. 78l or 78o(d)) or certain other entities—a list of beneficial owners identifying each by name, address, and any controlling entities; (2) for each disbursement over $1,000, the amount and recipient's name and address; (3) for non-covered transfers, the relevant election, identified candidates, and whether supporting or opposing; (4) a certification by the CEO or head that the disbursement was not coordinated with candidates, parties, or agents; (5) if using a segregated fund exclusively, for each donor payment to the fund, name, address, date, amount, and aggregate (for donors over $10,000 aggregate, indexed for inflation after 2027 per FECA section 315(c)(1)(B) using 2027 as base); (6) if using other funds, for each donor payment to the organization, name, address, date, amount, and aggregate (for donors over $10,000 aggregate, indexed after 2027); and (7) other information required by FEC rules. (Thus, the revision mandates donor and beneficial ownership disclosure for non-public companies, enhancing transparency of election spending sources.)

This section amends Section 324 of the Federal Election Campaign Act of 1971 (52 U.S.C. 30126)—which requires certain tax-exempt organizations (i.e., covered organizations) to report campaign-related disbursements above specified dollar thresholds and disclose contributors above thresholds—by treating disbursements for federal judicial nomination communications as campaign-related disbursements. For these disbursements, the section applies Section 324's dollar thresholds separately from those for election-related disbursements; sets the reporting cycle as the calendar year of the disbursement; and deems references to candidates as judicial nominees and elections as nominations. A federal judicial nomination communication is any paid public political advertising (e.g., broadcast, digital, mail, phone banks of over 500 similar messages in 30 days) that promotes, supports, attacks, or opposes an individual's nomination or Senate confirmation as a federal judge or justice (excluding bona fide news). (Thus, covered organizations must disclose contributors funding such communications if thresholds are met.)

This section directs the Director of the Financial Crimes Enforcement Network (FinCEN) of the Department of the Treasury to provide the Federal Election Commission (FEC) with information necessary to administer and enforce section 324 of the Federal Election Campaign Act of 1971, as amended by this title. It further requires the FEC Chairman, in consultation with the FinCEN Director, to submit to Congress, not later than six months after enactment of this Act, a report with recommendations for additional legislative authority to assist in such administration and enforcement.

This section expands the definition of "foreign national" under FECA's prohibition on foreign contributions, donations, expenditures, independent expenditures, and disbursements for electioneering communications (52 U.S.C. 30121) to include, in addition to prior terms, any disbursement—other than one described in section 324(a)(3)(A)—to another person who made a campaign-related disbursement consisting of a covered transfer (as described in section 324) during the 2-year period ending on the date of the disbursement. (Thus, such disbursements are prohibited.)

This section states the sense of Congress that the Federal Election Commission should simplify the process for filing disclosures required under this title to ensure it is as easy and accessible as possible.

This section establishes January 1, 2027, as the effective date for amendments made by this title with respect to disbursements made on or after that date, without regard to whether the Federal Election Commission has promulgated implementing regulations.

This section establishes special rules under new FECA section 407 for judicial review of actions challenging the constitutionality or lawfulness of FECA (including title V on advisory opinions), IRC chapters 95 or 96 (public financing of presidential elections), or FEC actions thereunder. It requires such actions—whether for declaratory or injunctive relief, facial or as-applied challenges—to be filed in the U.S. District Court for the District of Columbia with appeals to the D.C. Circuit; mandates expedited handling by those courts; requires plaintiffs in constitutional challenges to notify House and Senate leaders; provides for transfer to D.C. District Court if such a challenge is added to an ongoing case elsewhere; and authorizes any Member of Congress to intervene or initiate such actions (with court orders possible to consolidate similar interventions). It makes conforming amendments to IRC sections 9011 and 9041 to reference the new FECA provision and repeals prior FECA section 310 and BCRA section 403, which had authorized constitutionality challenges in any U.S. district court with immediate en banc certification to the relevant circuit court of appeals.

This section provides that the amendments made by this title take effect on the date of enactment, without regard to whether the Federal Election Commission has promulgated implementing regulations.

This section amends the disclaimer requirements of FECA section 318 (52 U.S.C. 30120) for unauthorized public political communications (i.e., those not authorized by a candidate or committee). It exempts Federal judicial nomination communications from the existing requirement to disclose the payer's name, street address, phone number or website, and unauthorized status; and establishes expanded requirements for audio, video, or digital formats by (1) mandating an "applicable individual" disclosure statement approving the message—spoken clearly for audio or displayed prominently for text/video (e.g., "I am [name], the [title] of [organization], and [organization] approves this message," with the applicable individual defined as the payer's CEO or highest official); (2) requiring, if funded in whole or part by a campaign-related disbursement, a Top Five Funders list for video/text digital communications or Top Two Funders list for audio (listing the five or two largest donors of $10,000+ in the prior 12 months, with website name or adapted disclaimer alternatives for short-duration ads per FEC regulations); and (3) specifying display rules (e.g., video text/crawl for at least 6 seconds with color contrast).

This section amends the Federal Election Campaign Act of 1971 (FECA) disclaimer requirements (52 U.S.C. 30120) to include telephone calls consisting in substantial part of a prerecorded audio message, by (1) adding such calls to the communications subject to standard identification requirements under FECA section 318(a); (2) adding such calls to those subject to expanded disclaimer requirements under section 318(e)(1); (3) requiring, for candidate-authorized prerecorded calls not subject to expanded requirements under section 318(d), an audio disclaimer statement at the beginning of the call; and (4) treating such calls as transmitted in audio format for purposes of expanded disclaimer requirements under section 318(e)(3). (As background, FECA section 318 requires political communications—such as broadcast ads, mailings, and electioneering communications—to disclose the payer and authorization status; thus, these changes ensure prerecorded calls, or robocalls, display equivalent transparency.)

This section provides that nothing in this title or its amendments may be construed to require disclaimers on internet communications by persons not already required to include such disclaimers under section 318 of the Federal Election Campaign Act of 1971 (FECA).

This section establishes January 1, 2027, as the effective date for the amendments made by this title with respect to communications made on or after that date, regardless of whether the Federal Election Commission has promulgated implementing regulations.

This section provides a severability clause, stating that if any provision of the Act or its amendments, or its application to any person or circumstance, is held unconstitutional, the remainder of the Act and its amendments, and their application to other persons or circumstances, remain unaffected.