# Plain Language Summary: Inaugural Committee Transparency Act of 2021

This bill requires presidential inaugural committees to be more transparent about their finances and operations. Specifically, it mandates that these committees disclose who is donating money to them, how much they're spending, and what they're spending it on. The goal is to let the public know where the money comes from and how it's being used during the presidential inauguration process.

Currently, inaugural committees operate with relatively few public disclosure requirements compared to political campaigns. This bill closes that gap by requiring the same kind of financial reporting that regular political committees have to do. That means donors' names and donation amounts would become public record, and the committees would have to file regular reports showing their income and expenses. If a committee fails to follow these rules, they could face penalties.

The practical effect is that when a new president takes office, Americans will have a clearer picture of who is funding the inaugural events and celebrations, and exactly how that money is being spent. This is meant to prevent hidden donations and ensure accountability for what is essentially a government event, even though it's technically organized by private committees. For most people, this just means more transparency in an area that previously operated with less public oversight.

Inaugural Committee Transparency Act of 2021

Cortez Masto, Catherine

Inaugural Committee Transparency Act of 2021 This bill requires the presidential inaugural committee to disclose to the Federal Election Commission, by 90 days after the presidential inaugural ceremony, any disbursement made in an amount equal to or greater than $200 and the purpose of each disbursement. The committee must also disclose the name and address of the person to whom the disbursement was made, the date of the disbursement, and the total amount and purpose of the disbursement. The bill prohibits (1) an inaugural committee from soliciting or receiving a donation from a foreign national, in addition to the current ban on a committee accepting such a donation; (2) a person from making a donation to an inaugural committee in the name of another; (3) a foreign national from making a donation or making a promise to make a donation to such a committee; or (4) converting a donation to an inaugural committee to personal use. The committee must disburse any remaining donated funds not later than 90 days after the inaugural ceremony to tax-exempt charitable organizations, but may request an extension of such 90-day period.