Bill > HR2190

This bill proposes to enhance transparency in corporate political spending by requiring publicly traded companies (referred to as "issuers") to disclose detailed information about their political expenditures. Specifically, companies would be mandated to submit quarterly reports to the Securities and Exchange Commission (SEC) and their shareholders, detailing political spending such as independent expenditures, electioneering communications, and payments to trade associations that could be used for political purposes. These reports must include the date, amount, and recipient of each political expenditure, as well as information about any candidates supported or opposed. Companies would also need to include an annual report summary of political expenditures over $10,000 and their anticipated political spending for the upcoming fiscal year. The bill aims to provide shareholders and the public with greater insight into how corporations use company funds for political activities, acknowledging that historically, shareholders have had limited visibility into such spending. The SEC would be required to make these reports publicly available online and conduct annual assessments of corporate compliance, with the Government Accountability Office also periodically evaluating the effectiveness of the reporting requirements. The bill's goal is to increase corporate accountability and transparency in political contributions.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/2190/all-info