To amend the Federal Election Campaign Act of 1971 to expand the ability of trade associations to solicit contributions from the stockholders and executive or administrative personnel of their member corporations, and for other purposes.

Prior Approval Reform Act This bill amends the Federal Election Campaign Act of 1971 to allow a trade association or a separate segregated fund established by a trade association to solicit contributions from a member corporation's stockholders and executive or administrative personnel and their families without the approval of the member corporation. Such a solicitation may be made by more than one trade association in a calendar year.