Prior Approval Reform Act

Summary#

This bill changes a section of the Federal Election Campaign Act of 1971. It removes a limiting phrase in section 316(b)(4)(D) so trade associations can more broadly solicit contributions from the stockholders and executive or administrative personnel of their member corporations. The change applies to solicitations made on or after January 1, 2025.

What it means for you#

• Trade associations may be able to directly ask shareholders and certain officers or administrators of member companies for contributions.
• If you are a shareholder or an executive/administrator at a member company, you could receive more solicitations from trade associations after January 1, 2025.
• If you are a trade association, you may have expanded ability to request contributions from people connected to member companies.

Expenses#

No publicly available information on costs, budget effects, or fiscal estimates.

Proponents' View#

The bill text and sponsors state the purpose is to expand the ability of trade associations to solicit contributions from member-corporation stockholders and certain executive or administrative personnel.

Opponents' View#

No publicly available information on opposition views or arguments.