US Federal 2023-2024 Regular Session

US Federal Senate Bill SB491

Introduced
2/16/23  

Caption

CVV Act Codification of Verified Values Act

Impact

The enactment of SB491 is projected to lead to increased accountability in campaign finance practices, particularly regarding online donations. By requiring contributors to provide a CVV, the law could deter fraudulent contributions and enhance overall transparency within political funding. This requirement would directly impact political organizations, which will need to adapt their contribution systems to comply with the new regulation. The aim is to facilitate a clearer understanding of donor identities and mitigate risks related to anonymous or illegitimate contributions, thus fostering more trust in the political funding system.

Summary

SB491, known as the Codification of Verified Values Act, seeks to amend the Internal Revenue Code of 1986 by instituting a requirement for online contributions to political organizations. Specifically, the bill mandates that any internet credit card contribution accepted by a political organization must include the disclosure of the credit verification value (CVV) by the contributor at the time of the transaction. This measure is intended to enhance the integrity of political contributions made online and to ensure that donations are made by verified individuals or entities.

Contention

Opposition to SB491 may arise from concerns regarding the potential implications on donor privacy and the operational burdens placed on political organizations. Critics might argue that the CVV requirement could deter small donors or hinder grassroots fundraising efforts due to added complexity in the donation process. Some may see it as an unnecessary regulatory burden that could limit the accessibility of political giving. The discussion surrounding the balance between transparency and donor privacy is likely to be a significant point of contention as the bill progresses.

Companion Bills

US HB3636

Related Put Zombie Donors to Rest Act

Previously Filed As

US HB25

FairTax Act of 2023 This bill imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income taxes, payroll taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2025, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property; for property or services purchased for business, export, or investment purposes; and for state government functions. Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines. The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury. Tax revenues are to be allocated among (1) the general revenue, (2) the old-age and survivors insurance trust fund, (3) the disability insurance trust fund, (4) the hospital insurance trust fund, and (5) the federal supplementary medical insurance trust fund. No funding is authorized for the operations of the Internal Revenue Service after FY2027. Finally, the bill terminates the national sales tax if the Sixteenth Amendment to the Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this bill.

US HB52

Kimberly Vaughan Firearm Safe Storage Act This bill directs the Department of Justice (DOJ) to establish voluntary best practices for safe firearm storage solely for the purpose of public education. DOJ must give at least 90 days public notice and afford an opportunity for a hearing before establishing such best practices. The bill authorizes DOJ to award grants for the development, implementation, and evaluation of Safe Firearm Storage Assistance Programs. The bill also provides for a new tax credit through 2030 for 10% of amounts received from the retail sale of a safe firearm storage device for use in the United States.

US HB127

Protection from Obamacare Mandates and Congressional Equity Act This bill alters provisions relating to the requirement to maintain minimum essential health care coverage (i.e., the individual mandate), as well as provisions relating to health care coverage for certain executive branch and congressional employees. Specifically, the bill exempts individuals from the requirement to maintain minimum essential health care coverage if they reside in a county where fewer than two health insurers offer insurance on the health insurance exchange. Under current law, there is no penalty for failing to maintain minimum essential health care coverage. The bill also requires certain executive branch and congressional employees to participate in health insurance exchanges. Under current law, Members of Congress and their designated staff are required to obtain coverage through health insurance exchanges, rather than the Federal Employee Health Benefits (FEHB) Program. Current regulations authorize government contributions toward such coverage and require Members of Congress to designate which members of their staff are required to obtain coverage through an exchange. The bill requires all congressional staff, including employees of congressional committees and leadership offices, to obtain coverage through an exchange. The bill also prohibits Members of Congress from having the discretion to determine which of their employees are eligible to enroll through an exchange. Further, the President, Vice President, and executive branch political appointees must also obtain coverage through exchanges, rather than FEHB. The government is prohibited from contributing to or subsidizing the health insurance coverage of the officials and employees subject to this requirement, including Members of Congress and their staff.

US HB7

No Taxpayer Funding for Abortion and Abortion Insurance Full Disclosure Act of 2023 This bill modifies provisions relating to federal funding for, and health insurance coverage of, abortions. Specifically, the bill prohibits the use of federal funds for abortions or for health coverage that includes abortions. Such restrictions extend to the use of funds in the budget of the District of Columbia. Additionally, abortions may not be provided in a federal health care facility or by a federal employee. Historically, language has been included in annual appropriations bills for the Department of Health and Human Services (HHS) that prohibits the use of federal funds for abortions—such language is commonly referred to as the Hyde Amendment. Similar language is also frequently included in appropriations bills for other federal agencies and the District of Columbia. The bill makes these restrictions permanent and extends the restrictions to all federal funds (rather than specific agencies). The bill's restrictions regarding the use of federal funds do not apply in cases of rape, incest, or where a physical disorder, injury, or illness endangers a woman's life unless an abortion is performed. The Hyde Amendment provides the same exceptions. The bill also prohibits qualified health plans from including coverage for abortions. Currently, qualified health plans may cover abortion, but the portion of the premium attributable to abortion coverage is not eligible for subsidies.

US HB158

Citizen Legislature Anti-Corruption Reform of Public Service Act or the CLEAN Public Service Act This bill excludes Members of Congress from further retirement coverage under the Civil Service Retirement System or the Federal Employees Retirement System following the enactment of the bill. It also prohibits further government contributions or deductions from a Member's basic pay for deposit in the Treasury to the credit of the Civil Service Retirement and Disability Fund. This exclusion does not affect a Member's eligibility to participate in the Thrift Savings Plan.

US HB152

Hearing Protection Act This bill removes silencers from the definition of firearms for purposes of the National Firearms Act. It also treats persons acquiring or possessing a firearm silencer as meeting any registration and licensing requirements of such Act. The Department of Justice must destroy certain records relating to the registration, transfer, or making of a silencer. The bill also revises the definitions of firearm silencer and firearm muffler under the federal criminal code and includes such items in the 10% excise tax category.

US HB266

National Lighthouse Museum Act This bill grants a federal charter to the National Lighthouse Museum.

US HB3725

Labor; e-verification; Department of Labor; requirements; penalties; codification; effective date.

US HB257

Earned Income Tax Credit Equity for Puerto Rico Act of 2021 This bill makes residents of Puerto Rico eligible for the federal earned income tax credit.

US HB151

No Frivolous Application for Short-Barreled Shotguns Act or the NFA SBS Act This bill removes certain short-barreled shotguns from the definition of firearms for purposes of the National Firearms Act. It also eliminates the prohibition on the sale or transportation of such shotguns in interstate commerce and treats persons who acquire or possess a short-barreled shotgun as meeting the registration or licensing requirements for such shotguns where such requirements are determined by reference to the National Firearms Act. The bill preempts state or local laws that impose a tax or recordkeeping requirements on short-barreled shotguns. The Department of Justice must destroy records relating to the registration of shotguns described by this bill within one year after the enactment of this bill.

Similar Bills

No similar bills found.