S.2515

Ban Corporate PACs Act limits corporate political contributions to nonprofit corporations.

The Ban Corporate PACs Act amends the Federal Election Campaign Act of 1971 to restrict corporate political contributions. It limits the authority of corporations to establish and operate separate segregated funds for political purposes to nonprofit corporations. The Act also restricts the solicitation of contributions to executive and administrative personnel. Existing corporate funds must terminate within a year, and government contractors are affected by these changes. The amendments take effect on the date of enactment.