To amend the Internal Revenue Code of 1986 to provide parity in reporting requirements for national party committees and unregulated political organizations, and for other purposes.
Truth in Spending Act of 2005 - Amends the Internal Revenue Code to revise disclosure requirements for tax-exempt political organizations. Requires such organizations to file monthly reports in any calendar year in which they accept a contribution or make an expenditure for an exempt function and to file a single year-end report not later than January 31 of the following calendar year. Eliminates the quarterly reporting requirement in calendar years in which a regularly scheduled election is held.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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