This bill significantly expands the existing prohibition on foreign national contributions and expenditures in American elections. It amends the Federal Election Campaign Act of 1971 to include domestic business entities within the definition of "foreign national" if they are foreign-controlled, foreign-influenced, or foreign-owned . This expansion aims to prevent foreign interests from indirectly influencing U.S. elections through domestic corporate structures. The legislation specifies that a business entity is considered foreign if a foreign national outside the U.S. holds 50% or more beneficial ownership, or if one foreign national holds 1% or more, or two or more foreign nationals collectively hold 5% or more. It also applies if foreign nationals have the power to direct the entity's decision-making regarding U.S. interests or election activities. To ensure compliance, the bill mandates that the chief executive officer of any business entity making election-related disbursements must file a certification under penalty of perjury , affirming the entity was not a foreign national at the time of the disbursement. Furthermore, the bill prohibits recipients from using funds from business entities that fail to provide the required certification, unless specific conditions for good faith reliance and separate accounting are met. It also clarifies that the foreign money ban extends to State or local ballot initiatives, referenda, or recall elections , and to disbursements made to political committees that accept non-compliant donations. Finally, corporate political action committees (PACs) are required to certify annually that their managers are U.S. citizens or permanent residents and that no foreign national participates in or influences their contribution and expenditure decisions.