Campaign Finance Transparency Act

subsequent contributions made using the same credit or debit card as the initial contribution. ``(5) An internet credit or debit card contribution received by a political committee made through the use of a digital wallet shall be treated as complying with the requirements of this subsection. ``(6) Notwithstanding subsection (b) or (c), in the case of an internet credit or debit card contribution-- ``(A) no later than 10 days after receiving the contribution, the person who receives the contribution shall forward to the treasurer such contribution, the name and address of the person making the contribution, and the date of receipt; and ``(B) the treasurer of a political committee shall keep an account of the name and address of any person making any such contribution, together with the date and amount of such contribution by any person consistent with applicable regulations of the Commission, including regulations relating to the period for which contribution records must be preserved and the anonymity of certain contributors. ``(7)(A) A treasurer of a political committee who is aware that a contribution to the committee is not in compliance with this subsection has an affirmative duty to refund the contribution to the individual or entity making the contribution. ``(B) If the treasurer of a political committee shows that best efforts have been used to comply with the requirements of this paragraph, the committee shall be considered in compliance with this subsection. ``(8) In this subsection-- ``(A) the term `digital wallet' means a software application that stores payment or account information to facilitate traditional payments that use bank and credit card information; and ``(B) the term `Internet credit or debit card contribution' means a contribution that-- ``(i) is made using a credit or debit card; and ``(ii) is received through an internet website or application.''. SEC. 3. REQUIRING NAME ON CREDIT OR DEBIT CARD TO BE NAME OF DONOR AS CONDITION OF ACCEPTANCE OF CONTRIBUTIONS IN FEDERAL ELECTIONS. Section 302 of the Federal Election Campaign Act of 1971 (52 U.S.C. 30102), as amended by section 2, is amended by adding at the end the following: ``(k) No political committee shall accept any credit or debit card contribution unless the name on the credit or debit card used to make such contribution is the name of the individual or entity donating such contribution.''. SEC. 4. PROHIBITING ACCEPTANCE OF CONTRIBUTIONS MADE USING GIFT CARDS IN FEDERAL ELECTIONS. Section 302 of the Federal Election Campaign Act of 1971 (52 U.S.C. 30102), as amended by section 2 and section 3, is amended by adding at the end the following: ``(l) No political committee shall knowingly accept a contribution made through the use of a gift certificate or store gift card, as such terms are defined, respectively, under section 915(a) of the Electronic Fund Transfer Act. ``(2)(A) A treasurer of a political committee who is aware that a contribution to the committee is not in compliance with this subsection has an affirmative duty to refund the contribution to the individual or entity making the contribution. ``(B) If the treasurer of a political committee shows that best efforts have been used to comply with the requirements of this subsection, the committee shall be considered in compliance with this subsection.''. SEC. 5. REMOVAL OF THRESHOLD FOR REPORTING CONTRIBUTIONS. Section 304 of the Federal Election Campaign Act of 1971 (52 U.S.C. 30104) is amended-- (1) in subsection (b)(3)-- (A) in subparagraph (A), by striking ``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,''; (B) in subparagraph (F), by striking ``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)''; and (C) in subparagraph (G), by striking ``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)''; (2) in subsection (c)(2)(C), by striking ``in excess of $200''; and (3) in subsection (e)(3)-- (A) by striking ``receipts or''; and (B) by striking `` paragraphs (3)(A), (5),'' and inserting ``paragraphs (5)''. SEC. 6. PROHIBITING AIDING OR ABETTING MAKING OF CONTRIBUTION IN THE NAME OF ANOTHER. Section 320 of the Federal Election Campaign Act of 1971 (52 U.S.C. 30122) is amended-- (1) by striking ``No person'' and inserting the following: ``(a) In General.--No person''; and (2) by adding at the end the following: ``(b) Prohibition on Assistance.--No person shall knowingly direct, help, or assist any person in making a contribution in the name of another person. ``(c) Reporting of Suspected Contributions.--Any recipient who suspects that a contribution made to such recipient is a contribution made by one person in the name of another person shall report such contribution to the Federal Election Commission.''. SEC. 7. REGULATIONS. (a) Deadline.--Not later than 90 days after the date of the enactment of this Act, the Federal Election Commission shall promulgate regulations to carry out the amendments made by this Act. (b) Consultation With Credit Card Payment Networks.--In promulgating regulations under subsection (a) to carry out the amendments made by this Act, the Commission shall consult with representatives of payment card networks, as defined under section 921(c) of the Electronic Fund Transfer Act (15 U.S.C. 1693o-2(c)), and other relevant stakeholders. SEC. 8. EFFECTIVE DATE. The amendments made by this Act shall apply with respect to contributions made after the expiration of the 90-day period which begins on the date the Commission promulgates regulations under section 7. <all>