Bill > HR535

This bill aims to enhance the transparency and integrity of Inaugural Committees by establishing strict rules for donations and financial reporting. The legislation prohibits Inaugural Committees from accepting donations from non-individual entities or foreign nationals, and prevents individuals from donating more than $50,000 in total. The bill requires rapid reporting of donations over $1,000, with donors' names and addresses disclosed within 24 hours of receipt, and mandates a comprehensive final report within 90 days of the inaugural ceremony detailing all donations over $200 and all disbursements. The legislation also prevents the conversion of donations to personal use, defining this as using funds for personal commitments that are unrelated to the committee's official responsibilities. Additionally, the bill allows unused funds to be donated to tax-exempt nonprofit organizations and includes provisions to index the donation limit to inflation starting in the 2032 Presidential election year. The amendments will take effect for Inaugural Committees established for inaugurations in 2029 and beyond, ensuring greater accountability and transparency in the funding of presidential transition ceremonies.

Government Affairs

https://www.congress.gov/bill/119th-congress/house-bill/535/all-info