SEC. 101. PROHIBITING INDEPENDENT EXPENDITURES AND ELECTIONEERING COMMUNICATIONS BY GOVERNMENT CONTRACTORS.
(a) Prohibition Applicable to Government Contractors-
(1) PROHIBITION
(A) IN GENERAL- Section 317(a)(1) of the Federal Election Campaign Act of 1971 (2 U.S.C. 441c(a)(1)) is amended by striking ‘purpose or use; or’ and inserting the following: ‘purpose or use, to make any independent expenditure, or to disburse any funds for an electioneering communication; or’.
(B) CONFORMING AMENDMENT- The heading of section 317 of such Act (2 U.S.C. 441c) is amended by striking ‘CONTRIBUTIONS’ and inserting ‘CONTRIBUTIONS, INDEPENDENT EXPENDITURES, AND ELECTIONEERING COMMUNICATIONS’.
(2) THRESHOLD FOR APPLICATION OF BAN- Section 317 of such Act (2 U.S.C. 441c) is amended--
(A) by redesignating subsections (b) and (c) as subsections (c) and (d); and
(B) by inserting after subsection (a) the following new subsection:
‘(b) To the extent that subsection (a)(1) prohibits a person who enters into a contract described in such subsection from making any independent expenditure or disbursing funds for an electioneering communication, such subsection shall apply only if the value of the contract is equal to or greater than $10,000,000.’.
(b) Application to Recipients of Assistance Under Troubled Asset Program- Section 317(a) of such Act (2 U.S.C. 441c(a)) is amended--
(1) by striking ‘or’ at the end of paragraph (1);
(2) by redesignating paragraph (2) as paragraph (3); and
(3) by inserting after paragraph (1) the following new paragraph:
‘(2) who enters into negotiations for financial assistance under title I of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5211 et seq.) (relating to the purchase of troubled assets by the Secretary of the Treasury), during the period--
‘(A) beginning on the later of the commencement of the negotiations or the date of the enactment of the Democracy is Strengthened by Casting Light on Spending in Elections Act; and
‘(B) ending with the later of the termination of such negotiations or the repayment of such financial assistance;
directly or indirectly to make any contribution of money or other things of value, or to promise expressly or impliedly to make any such contribution to any political party, committee, or candidate for public office or to any person for any political purpose or use, to make any independent expenditure, or to disburse any funds for an electioneering communication; or’.
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