CVV Act

This bill, the CVV Act (S 491), requires political organizations that accept online credit card donations to obtain the credit card verification value (CVV) from donors at the time of contribution. It directly affects political organizations receiving internet-based credit card payments by mandating they collect the CVV code (the three-digit number on the back of a card) during the donation process. The key provision adds a new requirement to the tax code, making it a condition for such organizations to be treated as tax-exempt under Section 527. The rule applies to contributions made after the bill's enactment date, aiming to verify donor identity for online political contributions.