Political Reform Act of 1974: travel expenditures.

Disclosure obligations under Section 1(f)(1) now apply only to nonprofit organizations that both meet the dollar thresholds AND 'regularly organize and host travel for elected officials.' Previously, meeting the dollar thresholds alone was sufficient to trigger disclosure requirements.

A new paragraph (f)(2) defines 'regularly organizes and hosts travel for elected officials' as a situation where more than one-third of the nonprofit's total expenses, as reflected on its most recent IRS Form 990 (or equivalent) filed within the last 12 months, reflect payments for travel, study tours, or conferences/conventions/meetings on behalf of an elected official.

Existing paragraphs (f)(2), (f)(3), and (f)(4) were renumbered to (f)(3), (f)(4), and (f)(5) to accommodate the new definition paragraph. Page numbers shifted from 98 to 97 due to formatting adjustments.

Removed the requirement that a nonprofit must 'regularly organize and host travel for elected officials' before disclosure obligations trigger. The bill now applies to any nonprofit organization that makes expenditures for travel by elected state or local officials exceeding $10,000 per year total or $5,000 per year for a single official.

Deleted the detailed definition of 'regularly organizes and hosts travel for elected officials,' which had required that expenses related to travel, study tours, conferences, conventions, and meetings exceed one-third of the organization's total expenses on its most recent IRS Form 990.

Changed the triggering language from 'makes payments, advances, or reimbursements' to 'makes expenditures,' which is a broader term encompassing all forms of spending on travel.

Filled in the previously blank record retention period, specifying that detailed accounts, records, bills, and receipts must be retained for at least 5 years.