American Elections Act of 2010 - Amends the Federal Election Campaign Act of 1971 to: (1) apply to any domestic corporation under foreign control or specified substantial foreign influence the ban on contributions and expenditures by foreign nationals in connection with a federal, state, or local election; and (2) require disclosure in certain print or broadcast communications paid for by a coporation the percentage of corporate voting shares controlled by a foreign national, or, if no such shares exist, the percentage of gross receipts that the corporation received from a foreign national in the immediately preceding fiscal year or current pro-rated fiscal year.
Requires any such broadcast communications paid for by a corporation to include an audio statement on the percentage of the corporation's shares controlled by, or of its funds that come from, foreign nationals.