Presidential Inaugural Committee Oversight Act
This bill requires disbursements by presidential inaugural committees to be reasonable, related to the inaugural ceremony, and reported to the Federal Election Commission (FEC). Currently, these committees are required to report only donations to the FEC.
Upon termination, a committee's remaining funds must be donated to a tax-exempt 501(c)(3) nonprofit organization.
To amend title 36, United States Code, to require Presidential 
  Inaugural Committees to file disbursement reports with the Federal 
Election Commission, to prohibit such Committees from disbursing funds 
for purposes unrelated to the inauguration of the President, to require 
such Committees to donate any Committee funds which remain available at 
       the time the Committee terminates, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Presidential Inaugural Committee 
Oversight Act''.

SEC. 2. DISCLOSURE REQUIREMENTS AND PROHIBITIONS RELATING TO 
              DISBURSEMENTS BY PRESIDENTIAL INAUGURAL COMMITTEES.

    (a) Disclosure Reports by Committees.--
            (1) Requirements.--Chapter 5 of title 36, United States 
        Code, is amended--
                    (A) by redesignating section 511 as section 512; 
                and
                    (B) by inserting after section 510 the following 
                new section:
``Sec. 511. Disclosure of and prohibition against certain disbursements
    ``(a) In General.--A committee shall not be considered to be the 
Inaugural Committee for purposes of this chapter unless the committee 
agrees to, and meets, the requirements of this section.
    ``(b) Disclosure of Disbursements.--
            ``(1) Initial disbursement report.--Not later than the date 
        that is 90 days after the date of the Presidential inaugural 
        ceremony, the Committee shall file an initial disbursement 
        report with the Federal Election Commission under this 
        subsection.
            ``(2) Subsequent disbursement reports.--After filing the 
        initial disbursement report described in paragraph (1), the 
        Committee shall file subsequent disbursement reports with the 
        Federal Election Commission under this subsection not later 
        than 60 days after each date by which the Committee makes 
        additional disbursements in an aggregate amount or value equal 
        to or greater than $100,000.
            ``(3) Contents of report.--In each disbursement report 
        filed under this subsection, the Committee shall disclose each 
        disbursement of money or anything of value made by the 
        Committee to any person in an aggregate amount or value equal 
        to or greater than $200 since the most recent report filed by 
        the Committee under this subsection, and shall include the 
        following information with respect to each such disbursement:
                    ``(A) The amount, purpose, and date of the 
                disbursement.
                    ``(B) The name and address of the recipient of the 
                disbursement.
                    ``(C) If the disbursement is made to repay a loan, 
                the amount of the loan and the amount of any remaining 
                balance on the loan.
                    ``(D) If the disbursement is made to refund a 
                donation or to offset a portion of a donation, the name 
                of the donor and the amount of the donation.
                    ``(E) Whether or not the disbursement is made with 
                surplus funds of the committee, and if so, the amount 
                of any remaining surplus funds of the committee.
    ``(c) Format of Reports.--The Committee shall ensure that each 
report filed under this section is in a searchable and sortable format.
    ``(d) Prohibiting Disbursements for Purposes Unrelated to 
Inauguration.--The Committee may make disbursements only to cover the 
reasonable operating expenses of the Committee, and may not make any 
disbursement for any purpose which is unrelated to the Presidential 
inaugural ceremony and functions and activities connected with the 
ceremony except as provided under subsection (e).
    ``(e) Requiring Donation of Funds Remaining Upon Termination.--If 
any funds of the Committee remain available at the time of the 
termination of the Committee, the Committee shall donate such funds to 
an organization described in section 501(c)(3) of the Internal Revenue 
Code of 1986 and exempt from taxation under section 501(a) of such 
Code.''.
            (2) Clerical amendment.--The table of sections of chapter 5 
        of such title is amended--
                    (A) by redesignating the item relating to section 
                511 as relating to section 512; and
                    (B) by inserting after the item relating to section 
                510 the following new item:

``511. Disclosure of and prohibition against certain disbursements.''.
    (b) Conforming Amendment Relating to Public Availability of 
Reports.--Section 304(h) of the Federal Election Campaign Act of 1971 
(52 U.S.C. 30104(h)) is amended by striking ``section 510'' and 
inserting ``section 510 or section 511''.
    (c) Effective Date.--The amendments made by this Act shall apply 
with respect to Presidential Inaugural Committees established under 
chapter 5 of title 36, United States Code, for inaugurations held in 
2021 and any succeeding year.
                                 <all>
Presidential Inaugural Committee Oversight Act
To amend title 36, United States Code, to require Presidential Inaugural Committees to file disbursement reports with the Federal Election Commission, to prohibit such Committees from disbursing funds for purposes unrelated to the inauguration of the President, to require such Committees to donate any Committee funds which remain available at the time the Committee terminates, and for other purposes.
Presidential Inaugural Committee Oversight Act
Rep. Schrader, Kurt