Real Time Transparency Act of 2014 - Amends the Federal Election Campaign Act of 1971 to revise the requirement of a 48-hour notification of a campaign contribution of $1,000 or more to the Federal Election Commission (FEC) and certain other officials by the principal campaign committee of a candidate for federal office.
Applies this requirement, with certain additions, but for reporting exclusively to the FEC, to any political committee regarding cumulative contributions of $1,000 or more from any contributor during a calendar year.
(Currently, a candidate's principal campaign committee is required to give a written 48-hour notification to the Secretary of the Senate or the FEC, and the Secretary of State, as appropriate, after the receipt of any contribution of $1,000 or more by any authorized committee of such candidate after the 20th day, but more than 48 hours before, any election.)
Treats any amount transferred by a joint fundraising committee established by a candidate's authorized committee to any other authorized committee of that candidate as a contribution by the joint fundraising committee to such authorized committee (and thus subject to the 48-hour notification requirement).
Requires Senate candidates to file designations, statements, and reports directly with the FEC (instead of via the Secretary of the Senate, as currently required).
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4442 Introduced in House (IH)]
113th CONGRESS
2d Session
H. R. 4442
To amend the Federal Election Campaign Act of 1971 to require all
political committees to notify the Federal Election Commission within
48 hours of receiving cumulative contributions of $1,000 or more from
any contributor during a calendar year, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
April 9, 2014
Mr. O'Rourke introduced the following bill; which was referred to the
Committee on House Administration
_______________________________________________________________________
A BILL
To amend the Federal Election Campaign Act of 1971 to require all
political committees to notify the Federal Election Commission within
48 hours of receiving cumulative contributions of $1,000 or more from
any contributor during a calendar year, 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 ``Real Time Transparency Act of
2014''.
SEC. 2. 48-HOUR NOTIFICATION REQUIRED FOR ALL POLITICAL COMMITTEES
RECEIVING CUMULATIVE CONTRIBUTIONS OF $1,000 OR MORE
DURING A YEAR FROM ANY CONTRIBUTOR.
(a) Notification.--Section 304(a)(6)(A) of the Federal Election
Campaign Act of 1971 (2 U.S.C. 434(a)(6)(A)) is amended to read as
follows:
``(A)(i) If a political committee receives an aggregate amount of
contributions equal to or greater than $1,000 from any contributor
during a calendar year, the committee shall submit a notification to
the Commission containing the name of the committee (and, in the case
of an authorized committee of a candidate, 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 contributions
involved.
``(ii) If, at any time after a political committee is required to
submit a notification under this subparagraph with respect to a
contributor during a calendar year, the political committee receives
additional contributions from that contributor during that year, the
committee shall submit an additional notification under clause (i) with
respect to such contributor each time the aggregate amount of the
additional contributions received from the contributor during the year
equals or exceeds $1,000 (excluding the amount of any contribution for
which information is required to be included in a previous notification
under this subparagraph).
``(iii) The political committee shall submit the notification
required under this subparagraph with respect to a contributor--
``(I) in the case of a notification described in clause
(i), not later than 48 hours after the date on which the
aggregate amount of contributions received from the contributor
during the calendar year first equals or exceeds $1,000; or
``(II) in the case of an additional notification described
in clause (ii), not later than 48 hours after the date on which
the aggregate amount of contributions received from the
contributor during the calendar year for which information was
not already included in a notification under this subparagraph
first equals or exceeds $1,000.
``(iv) For purposes of this subparagraph, any amount transferred by
a joint fundraising committee which is established by an authorized
committee of a candidate to any other authorized committee of that
candidate shall be treated as a contribution by the joint fundraising
committee to such authorized committee.''.
(b) Effective Date.--The amendment made by subsection (a) shall
apply with respect to contributions received by a political committee
under the Federal Election Campaign Act of 1971 during 2014 or any
succeeding year, except that nothing in such amendment may be construed
to require a political committee which does not receive contributions
during the portion of 2014 which occurs after the date of the enactment
of this Act to meet the requirements of section 304(a)(6)(A) of the
Federal Election Campaign Act of 1971, as amended by subsection (a).
SEC. 3. FILING BY SENATE CANDIDATES WITH FEDERAL ELECTION COMMISSION.
(a) Mandatory Filing With FEC.--Section 302(g) of the Federal
Election Campaign Act of 1971 (2 U.S.C. 432(g)) is amended to read as
follows:
``(g) Filing With the Commission.--All designations, statements,
and reports required to be filed under this Act shall be filed with the
Commission.''.
(b) Effective Date.--The amendment made by subsection (a) shall
apply with respect to materials filed on or after the date of the
enactment of this Act.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on House Administration.
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