Disclosure requirements with respect to certain communications

(a) In general Section 318 of the Federal Election Campaign Act of 1971 (52 U.S.C. 30120) is amended by adding at the end the following new subsection: (e) Expanded disclaimer requirements for certain communications not authorized by candidates or committees (1) In general Each covered communication shall include, in addition to any other requirements applicable under this section, the Top Three Funders list (if applicable). (2) Covered communication defined The term covered communication means a communication described in paragraph (3) of subsection (a) that expressly advocates the election or defeat of a clearly identified candidate or that qualifies as an electioneering communication under section 304(f)(3) that is paid for in whole or in part by a covered independent expenditure committee. (3) Covered independent expenditure committee defined The term covered independent expenditure committee means a political committee which— (A) makes independent expenditures aggregating $10,000 or more during a calendar year; or (B) makes contributions to other independent expenditure committees aggregating $10,000 more during a calendar year. (4) Top Three Funders list defined (A) In general The term Top Three Funders list means, with respect to a covered communication— (i) a list of the 3 persons who, during the 12-month period ending on the date of the disbursement for such communication, provided the largest payments of any type in an aggregate amount equal to or exceeding $5,000 to the person who is paying for the communication and the name of and amount of the payments each such person provided; and (ii) in the case a person included under clause (i) is a political committee, a list of the 2 persons who, during the 12-month period ending on the date of the disbursement for such communication, provided the largest payments of any type in an aggregate amount equal to or exceeding $5,000 to such political committee and the name of and amount of the payments each such person provided. (B) Special rule If 2 or more persons provided the third largest of any such payments described in clause (i) or if 2 or more persons provided the second largest of such payments under clause (ii), the person paying for the communication shall select 1 of those persons to be included on the Top Three Funders list.. (b) Effective date The amendments made by this Act shall apply with respect to communications made on or after January 1, 2027.