S. 2515

II
  119th CONGRESS
  1st Session
  S. 2515
  IN THE SENATE OF THE UNITED STATES
  July 29, 2025
  Mr. Kelly  (for himself,  Ms. Slotkin ,  Mr.
  Kim , and  Ms. Warren )
  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 limit the authority of
  corporations to establish and operate separate segregated funds utilized for political
  purposes, including the establishment or operation of a political committee, to
  nonprofit corporations, and for other purposes.
1.
Short title
This Act may be cited as the
  Ban Corporate PACs Act  .
2.
Limiting authority of corporations to establish or operate separate segregated
  funds for political purposes to nonprofit corporations
(a)
Limitation
(1)
In general
Section 316(b)(2)(C) of the Federal Election Campaign Act of 1971 (52
  U.S.C. 30118(b)(2)(C)) is amended by striking  a corporation
  and inserting  a nonprofit corporation .
(2)
Definition
Section 316(b) of such Act (52 U.S.C. 30118(b)) is amended by adding at
  the end the following new paragraph:
(8)
For purposes of this section, the term  nonprofit
  corporation  means a corporation described in section
  501(c) of the Internal Revenue Code of 1986 and exempt from taxation
  under section 501(a) of such Code, other than a corporation which is
  ineligible to be exempt from taxation under section 501(a) of such
  Code if it establishes a separate segregated fund under this
  subsection.
  .
(b)
Permitting solicitation of contributions only from executive and
  administrative personnel
Section 316(b) of such Act (52 U.S.C. 30118(b)) is amended—
(1)
in paragraph (4)(A)(i), by striking  its stockholders and their
  families and ;
(2)
in paragraph (4)(B)—
(A)
by striking  a corporation  the first place it appears
  and inserting  a nonprofit corporation ;
(B)
by striking  any stockholder, executive or administrative
  personnel,  and inserting  any executive or
  administrative personnel ; and
(C)
by striking  stockholders, executive or administrative
  personnel,  and inserting  executive or administrative
  personnel ;
(3)
in paragraph (4)(D)—
(A)
by striking  stockholders and ;
(B)
by striking  such stockholders or personnel  and
  inserting  such personnel ; and
(C)
by striking  such stockholders and personnel  and
  inserting  such personnel ; and
(4)
in paragraph (5), by striking  stockholders and .
(c)
Treatment of government contractors
Section 317(b) of such Act (52 U.S.C.
  30119(b)) is amended—
(1)
by striking  any corporation  and inserting  any
  nonprofit corporation ; and
(2)
by striking  a corporation  and inserting  a nonprofit
  corporation .
3.
Effective date; transition for existing funds and committees
(a)
Effective date
The amendments made by this Act shall take
  effect on the date of the enactment of this Act.
(b)
Transition for existing funds and committees
In the case of a separate segregate fund established and operating under
  section 316(b)(2)(C) of the Federal Election Campaign Act of 1971 (52 U.S.C.
  30118(b)(2)(C)) as of the date of the enactment of this Act which is not a fund
  of a nonprofit corporation as defined in section 316(b)(8) of such Act (as added
  by section 2(a)(2)), the fund shall terminate and disburse its entire balance
  not later than 1 year after the date of the enactment of this Act.