118th Congress · HOUSE BILLBILL

H.R. 8314 — No Foreign Election Interference Act

“To amend the Internal Revenue Code of 1986 to impose penalties with respect to contributions to political committees from certain tax exempt organizations that receive contributions from foreign nationals.”

Taxation
Introduced May 8, 2024
Last action Sep 17, 2024
Pipeline · Bill → Law
Step 1
Introduced
May 8, 2024
Step 2
Referred
Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

This bill prohibits specified tax-exempt organizations from making contributions to political committees for eight years from the date of receiving a gift or contribution from a foreign national. Specified tax-exempt organization means, with respect to any taxable year, any organization described in Section 501(c) of the Internal Revenue Code (IRC) and exempt from tax under Section 501(a) of the IRC if (1) the gross receipts of such organization for such taxable year equal or exceed $200,000; or (2) the assets of such organization (determined as of the close of such taxable year) equal or exceed $500,000. Any specified tax-exempt organization that makes such a contribution must pay a penalt...

Provisions · 2 sectionsIntroduced in House
Timeline · 0 actions