527 Organizations: Reporting Requirements Imposed on Political Organizations after the Enactment of P.L. 106-230

Description

On July 1, 2000, President Clinton signed H.R. 4762, P.L. 106-230. The law amended the Internal Revenue Code [IRC] to require political organizations described in IRC § 527 to disclose their political activities, if they were not already required to do so by the Federal Election Campaign Act [FECA]. This report summarizes the three major changes made by the law and some of the major responses to the legislation. First, all 527 organizations which expect to have over $25,000 in gross receipts during a taxable year and which are not required to report to the Federal Election Commission [FEC] are ... continued below

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5 pages.

Creation Information

Morris, Marie B. March 19, 2001.

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Description

On July 1, 2000, President Clinton signed H.R. 4762, P.L. 106-230. The law amended the Internal Revenue Code [IRC] to require political organizations described in IRC § 527 to disclose their political activities, if they were not already required to do so by the Federal Election Campaign Act [FECA]. This report summarizes the three major changes made by the law and some of the major responses to the legislation. First, all 527 organizations which expect to have over $25,000 in gross receipts during a taxable year and which are not required to report to the Federal Election Commission
[FEC] are required to register with the IRS within 24 hours of their formation, whether they are involved in state, local, or federal elections. Second, 527 issue advocacy organizations, which previously reported neither to the IRS nor the FEC, are required
to file regular disclosure statements with the IRS. Third, all 527 organizations with gross receipts in excess of $25,000 per year are required to file annual reports with the IRS. The registration statements, disclosure forms, and annual reports will be made public.
H.R. 527 and S. 527 in the 107th Congress would exempt most state and local 527 organizations from the requirements of P.L. 106-230.

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5 pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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  • March 19, 2001

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Added to The UNT Digital Library

  • June 12, 2005, 7:34 a.m.

Description Last Updated

  • Feb. 10, 2017, 12:08 p.m.

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Morris, Marie B. 527 Organizations: Reporting Requirements Imposed on Political Organizations after the Enactment of P.L. 106-230, report, March 19, 2001; Washington D.C.. (digital.library.unt.edu/ark:/67531/metacrs1965/: accessed May 28, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.