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To amend title 18, United States Code, to prohibit the establishment of a corporation to conceal election contributions and donations by foreign nationals.
Summary
This bill creates a new federal crime making it unlawful for owners, officers, attorneys, or incorporation agents of a corporation to establish or use a corporation to conceal activities by foreign nationals that are prohibited under federal election law. Specifically, it targets the use of shell companies to hide foreign election contributions or donations. Violators face up to 5 years in prison, a fine, or both.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
4 cosponsors
Actions (3)
- Jun 26, 2018 Committee on the Judiciary Subcommittee on Crime and Terrorism. Hearings held. · senate
- May 23, 2018 Read twice and referred to the Committee on Rules and Administration. · senate
- May 23, 2018 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
May 23, 2018
Mr. Whitehouse (for himself, Mr. Grassley, Mr. Durbin, Mr. Graham, and Mr. Blumenthal) introduced the following bill; which was read twice and referred to the Committee on Rules and Administration
A BILL
To amend title 18, United States Code, to prohibit the establishment of a corporation to conceal election contributions and donations by foreign nationals.
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 “Shell Company Abuse Act”.
SEC. 2. PROHIBITION.
(a) In General.—Chapter 29 of title 18, United States Code, is amended by adding at the end the following: “Sec. 612. Establishment of corporation to conceal election contributions and donations by foreign nationals
“(a) Offense.—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 (as defined in section 319 of the Federal Election Campaign Act of 1971 (52 U.S.C. 30121)) prohibited under such section 319.
“(b) Penalty.—Any person who violates subsection (a) shall be imprisoned for not more than 5 years, fined under this title, or both.”.
(b) Table of Sections.—The table of sections for chapter 29 of title 18, United States Code, is amended by inserting after the item relating to section 611 the following:
“612. Establishment of corporation to conceal election contributions and donations by foreign nationals.”. <all>
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