House Democrats moved the DISCLOSE Act through the Rules Committee last week in preparation for a floor vote.

The DISCLOSE Act (H.R. 5175) is legislation intended to modify the impact of the Supreme Court’s landmark campaign finance decision earlier this year. The bill’s lead sponsor, Rep. Chris Van Hollen (D-MD), indicated the bill will “provide the most transparency and disclosure of political expenditures in the history of our elections.”

The bill requires CEOs of organizations sponsoring a political ad to “stand by their ad,” and in cases where money is funneled to an association or union, the top five organizations that have donated to the group would also have to be identified on screen during the ad. The bill also requires organizations to disclose donations for political activities that exceed $1,000 and strengthens restrictions on political spending by corporations controlled by foreign nationals, government contractors, or companies that received bailout funds from the federal government. The newest addition to the bill is an exemption to organizations that have 500,000 or more members in all 50 states and receive no more than 15 percent of their contributions from corporations.