H.R. 4790 requires any corporation making political expenditures must first amend its bylaws to require majority shareholder approval of any political expenditure in excess of $50,000. Corporations would also have to annually report all political spending over $10,000 to their shareholders.

The legislation authorizes the Securities and Exchange Commission (SEC) to require disclosure of all political expenditures made by a corporation as well as the individual votes of company board members who authorized the expenditures. Further, the measure requires the SEC to publish the disclosures on its public website. The measure now moves to the full House for consideration though the vote may not occur until after Congress returns from its August recess.

Have you ever wondered how the U.S. Capitol building always looks so good? The Architect of the Capitol is the agency that serves as the steward for the U.S. Capitol, the Capitol Visitor Center, Senate Office Buildings, House Office Buildings, Supreme Court, Library of Congress, U.S. Botanic Garden, and Capitol Campus grounds. Stephen T. Ayers is the current Architect of the Capitol, and there are 2,600 employees serving the agency. There have been only eleven Architects of the Capitol since 1793!

The Architect of the Capitol Web site has a treasure of information about many architectural features of the Capitol and the works of art in the Capitol Complex. The site says: “Since the laying of the Capitol cornerstone by George Washington in 1793, the Architect of the Capitol (AOC) has served the United States as builder and steward of many of the nation’s most iconic and indelible landmark buildings.”

Whether you are a visitor, someone who has lived in Washington D.C. for years, or just an interested reader, there are great videos, photo galleries, and rich histories about the buildings of our nation’s capital for your enjoyment.

The AOC says its job is to: “…Support the needs of nearly 30,000 occupants and millions of tourists who visit the campus annually; ensure the buildings and grounds meet modern standards for sustainability and accessibility; and preserve the historical legacy of the landmarks entrusted to the AOC’s care.”

Enjoy wandering through this great site, but be careful – you may find that when it is over, hours have just disappeared!

The measure creates the Lobbying Disclosure Act Enforcement Task Force inside the Department of Justice. The new task force will be charged with enforcing the disclosure provisions of the Lobbying Disclosure Act of 1995.

Further, the bill amends existing federal lobbying law by making public the names of registered lobbyists and firms who violate disclosure regulations. The bill now heads to the Senate.

Update 8-2-2010: Here is an article from The Hill giving K Street’s reaction to the Lobbying Disclosure Enhancement Act: “K Street feels it’s being unfairly targeted by bill disclosing lobbying violators“

For the time being, the Supreme Court’s ruling stands. Another vote is thought possible in September after Congress returns from the August recess.

Here are three articles for further reading:

“Senate Dems lack votes to overcome Republican filibuster of Disclose Act,” by Alexander Bolton in The Hill.

“Dems table campaign finance reform,” by Meredith Shiner in Politico.

“Bill on political ad disclosures falls a little short in Senate,” by Dan Eggen in the Washington Post.

The committees plan to use funds to make independent expenditures. Citing the recent Supreme Court decision in Citizens United v. Federal Election Commission as well as a less-well known decision by the U.S. Court of Appeals for the District of Columbia issued this year called SpeechNow.org v. FEC, the FEC concluded corporations, labor organizations, and political committees may make unlimited independent expenditures from their own funds, and individuals may pool unlimited funds in an independent expenditure-only political committee.

In the case of the independent committee Commonsense Ten, a registered, non-connected political committee (Advisory Opinion 2010-11), the FEC concluded it could solicit and accept unlimited contributions from individuals, corporations, labor organizations, and political committees for the purpose of making independent expenditures.

In the case of Club for Growth, Inc., a 501(c)(4) corporation, (Advisory Opinion 2010-09),the FEC concluded on the same basis provided by Citizens United and SpeechNow.org it could establish and administer a committee to solicit and accept unlimited contributions from individuals in the general public, including contributions given for specific independent expenditures.

The FEC issued both advisory opinions on a vote of 5 to 1. Commissioner Steven T. Walther dissented in both opinions.

The measure will come to a vote on the floor of the Senate early next week. Reid’s move begins the endgame for the legislation even though he does not yet have the votes to overcome the anticipated filibuster from the bill’s opponents.

New York Senator Charles Schumer, who authored S. 3295, the Senate’s version of the DISCLOSE Act, has modified the bill to address concerns raised when H.R. 5175 was passed by the House earlier this summer. Democrats hope the changes will be enough to win the support of Maine GOP Senators Susan Collins and Olympia Snowe, both of whom expressed reservations regarding the House bill. For example, Senator Collins believes H.R. 5175 provides unions with special exemptions and a corresponding unfair political advantage over corporations.

It is unclear at this time whether or not changes to the Senate bill offered by Schumer will be enough to overcome Collins’ and Snowe’s objections. The Senate vote could come as early as Tuesday.

If you are looking for more coverage, the Hill has two articles by Susan Crabtree:

“Schumer files new version of campaign-finance bill to court centrist votes,” July 22, 2010

“Sen. Reid sets up showdown next week on campaign finance,” July23, 2010

U.S. Sen. Scott Brown (R-Mass.) announced he would oppose the DISCLOSE Act, depriving Democrats of an important swing vote on the legislation. For more insight on the future of the campaign finance bill, here are three articles:

Sen. Brown to oppose Disclose Act, by Susan Crabtree in The Hill.

Brown’s opposition dims chances for campaign finance overhaul, by Matt Viser in the Boston Globe.

H.R. 5609, which passed on a vote of 408-4, prohibits any registered lobbyist whose clients include foreign governments which are found to be sponsors of international terrorism or include other foreign nationals from making contributions and other campaign-related disbursements in elections for public office. The bill moves to the Senate.