S. 118: Inaugural Committee Transparency Act of 2025

The Inaugural Committee Transparency Act of 2025 proposes several key changes aimed at enhancing the transparency of financial activities related to the Presidential Inaugural Committee. The bill introduces new disclosure requirements and rules surrounding donations and expenditures by the Committee. Below are the main components of the proposed legislation:

1. Disclosure of Donations and Expenditures

The bill mandates that the Inaugural Committee disclose specific information about donations and expenditures:

• Any disbursement of $200 or more must be reported, including the purpose of the disbursement.
• For each qualifying disbursement, the following details must be provided:
  • The name and address of the recipient of the disbursement.
  • The date on which the disbursement was made.
  • The total amount and purpose of the disbursement.

2. Prohibition on Certain Donations

The legislation prohibits several types of donations to the Inaugural Committee:

• Foreign nationals are not allowed to donate or make promises of donations.
• Individuals cannot make donations in the name of another person, nor can they accept donations made in someone else's name.
• Converting donations for personal use is explicitly forbidden.

3. Financial Accountability Post-Inauguration

After the Presidential inauguration, the bill states that:

• Any remaining funds from donations must be disbursed to a 501(c)(3) organization within 90 days of the inaugural ceremony.
• The Inaugural Committee can apply for an extension of this 90-day period if necessary, but they must file a supplemental report detailing the remaining funds by the end of the extension period.

4. Definitions and Criminal Provisions

The bill includes definitions and provisions to enforce the above prohibitions, detailing what constitutes a foreign national and how certain activities related to donations can lead to legal consequences.

5. Enforcement and Oversight

There will be oversight and potential penalties for non-compliance with these requirements, aiming to ensure accountability and transparency in how inaugural funds are raised and spent.

Relevant Companies

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