No Foreign Election Interference Act
Congress Targets Nonprofits Taking Foreign Money With Double Tax Penalties for Political Donations
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Creates a new tax penalty for certain nonprofits that donate to political committees after receiving any foreign-national gift.
- The penalty is twice the amount of the political donation if the nonprofit took a foreign-national contribution at any time in the past 8 years.
- Applies to larger nonprofits (at least $200,000 in yearly receipts or $500,000 in assets).
- If a nonprofit makes more than 2 of these banned political donations, it would lose its federal tax-exempt status going forward.
- Would take effect for covered political donations made on or after January 1, 2026.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Referred to the House Committee on Ways and Means.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
4 articles
Compliance Notes - Vol. 5, Issue 30
Digest item summarizing the No Foreign Election Interference Act (H.R. 8314): bars certain tax-exempt nonprofits from donating to political committees if they received foreign-national funds in prior 8 years; 200% penalty and loss of exemption after >2 violations.
Tax News & Views (May 17, 2024 edition)
Explains the No Foreign Election Interference Act (H.R. 8314): eight-year ban on political committee donations after receiving foreign-national gifts; 200% excise-style penalty for first two violations and tax-exempt status loss on a third.
Congress Votes (House vote rejects No Foreign Election Interference Act)
Vote recap noting the House rejected the No Foreign Election Interference Act (H.R. 8314) aimed at increasing penalties for tax-exempt groups contributing to PACs after receiving foreign funding; includes vote tally and floor arguments.
Source Information
Document Type
Congressional Bill
Official Title
No Foreign Election Interference Act
Data Sources
Sponsor
Analysis generated by AI. Always verify with official sources.