This bill changes the rules for reporting donations to and spending by the Presidential Inaugural Committee. It amends section 510 of title 36 to require the committee to report any disbursement of $200 or more and the purpose of each such disbursement. For disbursements of $200 or more, the committee must list the payee's name and address, the date, and the total amount and purpose. The bill also makes it illegal for inaugural committees to accept donations from foreign nationals, to accept donations made in another person’s name ("straw" donations), or to convert donations to personal use. The bill defines conversion to personal use as using donated money for obligations or expenses that would exist regardless of the committee's responsibilities. Finally, the bill requires that any remaining donated funds be given to a 501(c)(3) charity within 90 days after the Presidential inaugural ceremony, unless the Federal Election Commission grants an extension; if extended, the committee must file a supplemental report.
No publicly available information on costs or budgetary effects is included in the bill text.
No publicly available information in the bill text about proponents' stated views. Sponsors listed in the bill filing include Senators Catherine Cortez Masto, Sheldon Whitehouse, Chris Van Hollen, Edward Markey, and Jeff Merkley.
No publicly available information in the bill text about opponents' stated views.