An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Tax-exempt organization (501(c))

A non-profit group that is not required to pay certain federal income taxes because it serves public purposes, such as charitable, educational, religious, or scientific activities.

Foreign national

An individual who is not a U.S. citizen or lawfully admitted permanent resident, or a foreign government, political party, corporation, or association.

Political committee

An organization that raises and spends money to elect and defeat candidates, often referred to as a "campaign committee" or "PAC."

Internal Revenue Code (IRC)

The primary body of federal tax law in the United States, administered by the Internal Revenue Service.

Disqualified political committee contribution

A contribution made by a specified tax-exempt organization to a political committee if that organization received money from a foreign national within the previous eight years.

Specified tax exempt organization

A tax-exempt organization (501(c)) with annual gross receipts of $200,000 or more, or assets of $500,000 or more.

Testing period

The 8-year period ending on the date a tax-exempt organization makes a contribution to a political committee, used to determine if the organization received funds from a foreign national. This period does not include time before the bill becomes law.