HR8720-119

What This Bill Does

The Campaign Finance Transparency Act amends the Federal Election Campaign Act. Political committees could not accept internet credit or debit card contributions unless the contributor provides the card verification value or code and billing ZIP Code, unless the contribution is by mail. Contributors whose mailing address is not in a state must provide a U.S. voter-registration address, passport, comparable identification, permanent resident card, or comparable DHS document depending on citizenship or lawful permanent resident status. Recurring and stored-card contributions need the information for the first transaction or when card data is stored, and digital wallet contributions are deemed compliant. The bill requires political committees to forward internet card contributions and contributor name, address, and receipt date within 10 days and keep required records. Committees may not accept credit or debit card contributions unless the card name matches the donor name, may not knowingly accept gift-card contributions, and treasurers must refund known noncompliant contributions after best efforts. It removes the $200 reporting threshold for itemized contributions, bars knowing help or assistance for contributions in another person's name, requires suspected straw donations to be reported to the FEC, directs FEC regulations within 90 days after enactment with payment card network consultation, and applies the new rules after the regulation period.

Who Benefits and How

Voters benefit from stronger controls against anonymous, foreign, or straw online contributions. Federal Election Commission enforcement staff benefit from clearer statutory rules and suspected straw-donation reports. Campaign donors using compliant payment cards benefit because digital wallets and recurring payments can still work after initial verification. Payment card networks benefit from formal consultation on implementing regulations. Campaign compliance vendors benefit from demand for verification, refund, reporting, and recordkeeping tools.

Who Bears the Burden and How

Political committee treasurers must collect card security codes, billing ZIP Codes, donor identity information, card-name matches, and contribution records; reject gift cards; refund known noncompliant contributions; and report suspected straw donations. Campaign fundraising platforms must redesign checkout, recurring contribution, digital wallet, and stored-card processes. Contributors without state mailing addresses must provide extra citizenship or lawful permanent resident documentation. FEC rulemaking staff must write regulations within 90 days. Small campaigns may face higher compliance costs.

Key Provisions

• Requires card verification value or code and billing ZIP Code for internet credit or debit card contributions.
• Requires extra donor identity information for contributors without state mailing addresses.
• Requires card-name matching and prohibits knowing acceptance of gift-card contributions.
• Removes the $200 itemization threshold for contribution reporting.
• Prohibits aiding or assisting contributions in another person's name and requires suspected straw-donation reports to the FEC.
• Requires FEC regulations within 90 days and applies the new contribution rules after the regulatory period.