As ordered reported by the House Committee on Ways and Means on May 15, 2024
By Fiscal Year, Millions of Dollars
2024
2024-2029
2024-2034
Direct Spending (Outlays)
0
0
0
Revenues
*
*
*
Increase or Decrease (-) in the Deficit
*
*
*
Spending Subject to Appropriation (Outlays)
*
*
not estimated
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?
No
Statutory pay-as-you-go procedures apply?
Yes
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?
No
Contains intergovernmental mandate?
No
Contains private-sector mandate?
No
* = between -$500,000 and $500,000.
Summary
H.R. 8314 would prohibit tax-exempt entities from making any contribution to a political committee, or any group of people that receives more than $1,000 in contributions or makes more than $1,000 in expenditures during a calendar year, for eight years from the date such entity received a contribution or gift from a foreign national. The bill also would establish a penalty equal to twice the amount of such prohibited contributions and would revoke the tax-exemption for entities making three such contributions.
