[Congressional Bills 111th Congress] [From the U.S. Government Publishing Office] [S. 2954 Introduced in Senate (IS)] 111th CONGRESS 2d Session S. 2954 To amend the Federal Election Campaign Act of 1971 to apply the ban on contributions and expenditures by foreign nationals to domestic corporations which are owned or controlled by foreign principals. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES January 26, 2010 Mr. Menendez introduced the following bill; which was read twice and referred to the Committee on Rules and Administration _______________________________________________________________________ A BILL To amend the Federal Election Campaign Act of 1971 to apply the ban on contributions and expenditures by foreign nationals to domestic corporations which are owned or controlled by foreign principals. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Prohibiting Foreign Influence in American Elections Act''. SEC. 2. APPLICATION OF BAN ON CONTRIBUTIONS AND EXPENDITURES BY FOREIGN NATIONALS TO FOREIGN-CONTROLLED DOMESTIC CORPORATIONS. Section 319(b) of the Federal Election Campaign Act of 1971 (2 U.S.C. 441e(b)) is amended-- (1) by striking ``or'' at the end of paragraph (1); (2) by striking the period at the end of paragraph (2) and inserting ``; or''; and (3) by adding at the end the following new paragraph: ``(3) a corporation (other than a foreign principal, as so defined) which is a subsidiary of a foreign principal, or with respect to which-- ``(A) one or more foreign principals serves on the board of directors, ``(B) one or more foreign principals directly or indirectly has an ownership interest, or ``(C) one or more foreign principals directly or indirectly holds debt or other obligations.''. <all>