The ACORN Act is modeled after H.R. 3571 but respects the Constitution by requiring a corporation to be guilty of a felony before federal funds are cut off. The bill:
- • Prohibits a corporation with a felony conviction from receiving any federal contracts, grants, or funds in any form for five years after the conviction.
- • Prohibits federal employees or contractors from promoting corporate felons for five years.
- • Prohibits corporate felons or any applicable individual from contributing to a candidate for federal office, to a political party, or to a federal political action committee for five years.
- • Limits the corporation or any applicable individual to no more than $1 million annually for lobbying Congress or federal officials for a 5 year period.
- • Provides presidential waiver authority if federal contracts, grants, and other agreements with corporate felons are determined to be in the national interest.
Here's Rep. Alan Grayson, commenting on the "Defund-ACORN Bill" that led to McCollum's actions: