We the People Act of 2016

We the People Act of 2016

Democracy Is Supported by Casting Light On Spending in Elections Act of 2016 or the DISCLOSE Act of 2016

This bill amends the Federal Election Campaign Act of 1971 (FECA) to:

• redefine "independent expenditure" to expand the meaning of express advocacy for the election or defeat of a candidate;
• expand the period for treating communications as electioneering communications;
• repeal the prohibition against contributions by minors;
• prescribe disclosure requirements for campaign-related disbursements by corporations, labor organizations, and certain other entities, including super political action committees (PACs);
• prescribe requirements for (Stand by Your Ad) disclosure of top funders of radio, television, and telephone advocacy communications; and
• prescribe requirements for disclosures by covered organizations to shareholders, members, and donors of information on campaign-related disbursements.

The Lobbying Disclosure Act of 1995 is amended to require the disclosure of any independent expenditure and electioneering communication equal to or greater than $1,000.

Stop Super PAC-Candidate Coordination Act

The bill amends FECA to treat payments for coordinated expenditures as contributions to candidates under certain conditions, and set forth rules for coordinated expenditures.

The bill also prohibits candidates, individual federal officeholders, agents of a candidate or an individual federal officeholder, or certain related entities from soliciting, receiving, directing, or transferring funds to or on behalf of any political committee which accepts donations or contributions that do not comply with FECA limitations, prohibitions, and reporting requirements, or to or on behalf of any political organization which accepts such donations or contributions.

Real Time Transparency Act

The bill amends FECA to require 48-hour notification to the Federal Election Commission (FEC) by all political committees receiving cumulative contributions (instead of single contributions) of $1,000 or more during a year from any contributor.

Federal Election Administration Act of 2016

FECA is also amended to replace the FEC with the Federal Election Administration (FEA).

The Government Accountability Office shall: (1) examine the enforcement of the criminal provisions of FECA and prohibitions regarding the Presidential Election Campaign Fund and the Presidential Primary Matching Payment Account, and (2) study the adequate level of resources for the FEA to execute competently the responsibilities imposed by this bill.

The Lobbying Disclosure Act of 1995 is amended to revise the definition of lobbyist to mean any individual who is employed or retained by a client for financial or other compensation for services that include more than one lobbying contact over a two-year (currently three-month) period.

Financial Services Conflict of Interest Act

The federal criminal code is amended regarding application of certain conflict-of-interest restrictions to a private sector employer that makes payment of compensation contingent on accepting a position in the federal government.

The Ethics in Government Act of 1978 is amended to prohibit a covered financial services regulator from making, participating in making, or in any way attempting to use his or her official position to influence a particular matter that provides a direct and substantial pecuniary benefit for a former employer or former client.

The Office of Government Ethics must discharge certain record keeping duties to implement this bill.

Violators of this bill shall be subject to specified criminal and civil penalties.

The bill revises and extends certain restrictions on subsequent employment on current and former procurement officers.

The federal criminal code is also amended to place specified time restrictions on subsequent employment for financial service regulators.

The Federal Deposit Insurance Act is amended to revise restrictions on federal examiners and supervisors of financial institutions.