Shell Company Abuse Act
Rep. Bell Introduces Bipartisan Bill to Ban Using Shell Companies to Hide Foreign Election Donations
Legislative Progress
Key Points
Impact Analysis
Personal Impact
Business owners who operate legitimately would not be directly affected, but the bill creates new criminal liability for anyone who establishes or uses a corporation to conceal foreign election contributions. Owners, officers, and incorporation agents who knowingly help funnel foreign money into elections through shell companies could face up to 5 years in prison. For the vast majority of small business owners this has no effect, but it does put those who facilitate illegal foreign donations at serious legal risk.
“It shall be unlawful for an owner, officer, attorney, or incorporation agent of a corporation, company, or other entity to establish or use the corporation, company, or other entity with the intent to conceal an activity of a foreign national”
Milestones
Referred to the House Committee on the Judiciary.
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.
News
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Source Information
Document Type
Congressional Bill
Official Title
Shell Company Abuse Act
Data Sources
Sponsor
Cosponsors
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