SHIELD Act
What changed between versions
The gift card prohibition in Section 3 no longer covers general-use prepaid cards; it now only prohibits gift certificates and store gift cards. A 'knowingly' qualifier was added, meaning committees are not liable for unintentional acceptance.
New paragraph (3) exempts recurring contributions from repeated verification - the committee only needs to verify identity on the first contribution in a series using the same card.
New paragraph (4) exempts subsequent contributions made with stored or saved card information from re-verification, requiring compliance only at the time of initial storage.
New paragraph (5) treats contributions made through digital wallets as automatically compliant with the verification requirements.
New paragraphs (7) in Section 2 and (2) in Section 3 require treasurers to determine compliance and refund contributions within 30 days if they cannot verify compliance. A 'best efforts' safe harbor is provided, meaning a committee that shows it made best efforts is considered compliant.
The FEC consultation requirement now includes 'other relevant stakeholders' in addition to payment card networks. The recordkeeping provision now references Commission regulations regarding record preservation periods and contributor anonymity.
The definition of 'Internet credit or debit card contribution' was expanded to include contributions received through an 'application' in addition to a website. A new definition of 'digital wallet' was added.
The address requirement was changed from 'billing address' to 'mailing address.' The documentation requirements for individuals outside the U.S. were reorganized into separate categories for citizens/nationals (voter registration address, passport, or comparable ID) and lawful permanent residents (permanent resident card or DHS-issued ID).
The FEC rulemaking deadline was extended from 10 days to 90 days after enactment. The effective date was changed from 180 days after enactment to 90 days after the Commission actually promulgates regulations, which could significantly delay when the law takes effect.
