HR7802-119

What This Bill Does

The DISCLOSE Act of 2026 expands the Federal foreign-money ban beyond conventional contributions. It treats funding routed to political committees or other persons for expenditures, independent expenditures, and electioneering communications as covered contributions or donations. It reaches specified paid digital candidate communications, issue communications by covered foreign nationals during Federal election years, compensated internet advocacy, Federal judicial-nomination communications, and ballot initiatives or referenda involving foreign governments, foreign political parties, their agents, and sanctioned persons. Owners, officers, attorneys, and incorporation agents who intentionally use an entity to conceal prohibited foreign-national activity may face up to five years in prison.

The Comptroller General must study illicit foreign money after each four-year election cycle through the cycle associated with the 2036 presidential election, including available evidence about targeting of rural, minority, military, and veteran communities. FinCEN must provide information needed by the Federal Election Commission, and the two agencies must recommend any further enforcement authority.

Covered corporations, non-501(c)(3) tax-exempt organizations, labor organizations, specified political organizations, noncorporate LLCs, and certain political-committee accounts that spend more than $10,000 in an election reporting cycle must file disclosure statements within 24 hours of each threshold-crossing date. Reports identify the organization, certain beneficial owners, disbursements above $1,000, recipients, affected elections or candidates, and a noncoordination certification. Depending on whether a segregated account is used, the report also identifies persons providing at least $10,000 during the relevant period. Ordinary business receipts and investments are generally excluded. Donors can restrict funds in writing and require segregation, and a person can seek nondisclosure by presenting specific evidence of serious threats, harassment, or reprisals.

The disclosure rule follows covered transfers used, solicited, discussed, or reasonably expected to finance campaign-related disbursements. It excludes ordinary commercial or investment transactions and properly segregated restricted funds, and it contains affiliate-transfer rules. Federal judicial-nomination advertising is treated as campaign-related spending on a separate calendar-year cycle, regardless of the spender's intent. Paid broadcast, digital, print, outdoor, mass-mail, telephone-bank, and similar communications supporting or opposing a Federal judicial nominee are covered, while independent news content is generally excluded.

Campaign-finance challenges seeking declaratory or injunctive relief must proceed in the U.S. District Court for the District of Columbia, with appeals to the D.C. Circuit and expedited handling. Constitutional complaints must be delivered to the House and Senate. Members of Congress may intervene on either side and may bring constitutional challenges themselves. Related presidential public-financing statutes receive conforming cross-references, and older judicial-review provisions are repealed.

The Stand By Every Ad provisions require covered audio, video, digital, text, and graphic communications not authorized by candidates to carry an individual or organizational approval statement. Video and digital communications financed by covered campaign-related spending generally identify the five largest qualifying funders; audio communications identify the top two. Short communications may use a website or one-action adapted disclaimer. Text must be prominent, audio must be clear, and video disclosures generally remain visible for at least six seconds. Prerecorded political calls must deliver the applicable audio statement at the beginning. The Act does not newly subject otherwise exempt internet speakers to disclaimer duties.

Most spending-disclosure and advertising provisions apply beginning January 1, 2027, regardless of whether the FEC has completed regulations. The judicial-review title applies immediately. A severability clause preserves the remainder if a court invalidates one provision or application.

Who Benefits and How

Voters, journalists, election researchers, and people evaluating Federal judicial nominations gain faster access to the original sources, beneficial owners, recipients, and major funders behind covered political spending. Candidates and election administrators gain stronger tools against foreign influence. People receiving prerecorded political calls gain immediate sponsor identification. Donors facing serious threats may seek a targeted disclosure exemption.

Who Bears the Burden and How

Covered corporations, nonprofit advocacy organizations, labor organizations, political organizations, certain political committees, and their senior officers must trace funds, segregate restricted payments, certify independence, file rapid reports, and place detailed disclaimers. Large donors and beneficial owners may have names and addresses disclosed. Foreign governments, foreign political parties, agents, sanctioned persons, and concealment intermediaries face broader prohibitions or criminal exposure. The FEC, FinCEN, GAO, Federal courts, and congressional clerks receive enforcement, reporting, rulemaking, and litigation duties.

Key Provisions

• Expands the foreign-money ban to additional election and digital activity.
• Prohibits covered foreign participation in ballot initiatives and referenda.
• Criminalizes intentional shell-entity concealment of prohibited foreign activity.
• Requires recurring GAO studies of illicit foreign election money.
• Requires 24-hour disclosure after covered spending exceeds $10,000.
• Requires source, beneficial-owner, recipient, and candidate information.
• Covers qualifying transfers between organizations and affiliates.
• Extends disclosure to Federal judicial-nomination advocacy.
• Requires FinCEN information sharing with the FEC.
• Centralizes and expedites campaign-finance judicial review in D.C.
• Requires sponsor statements and top-funder lists in covered advertising.
• Applies disclaimer rules to prerecorded political calls.
• Preserves existing exemptions for otherwise uncovered internet speakers.
• Preserves surviving provisions through severability.