H.R. 9874 — Get Foreign Money Out of United States Elections Act

This section expands the ban on foreign nationals making contributions, donations, expenditures, or electioneering communications to include domestic business entities in which a foreign national owns or controls 50 percent or more of the voting shares or equity, or in which one foreign national holds 1 percent or more, multiple foreign nationals hold 5 percent or more in aggregate, or foreign nationals direct decisionmaking on US interests or election activities. It requires the chief executive officer of any such entity to file a certification of compliance with the Federal Election Commission within 7 days of making any such payment and prohibits recipients from using the funds without receiving and separately accounting for that certification.

This section expands the prohibition on foreign nationals making contributions or donations in connection with Federal, State, or local elections to include State and local ballot initiatives, referendums, and recall elections, as well as any disbursement to a political committee that accepts donations or contributions outside the limits, prohibitions, or reporting requirements of the Federal Election Campaign Act. It also bars a corporate separate segregated fund from making contributions or expenditures in a year unless the fund certifies that its managers are U.S. citizens or lawful permanent residents, that no foreign national participates in its decision-making on contributions or expenditures, that it does not solicit recommendations from foreign nationals on such matters, and that any foreign national board member abstains from voting on fund activities.