CVV Act
Source: Congress.gov ·
323 words in original text
What This Bill Does
This bill changes the rules for online donations made with credit cards to political organizations. The bill requires that people making online credit card donations must enter a credit verification value (the security code on the back of their card) when they give money.
Who It Affects
Political organizations that accept online credit card donations.
Key Provisions
• Political organizations can only receive recognition as valid political organizations if they require donors to provide the credit verification value when making online credit card donations (Sec. 2).
What Changes
Political organizations must now require donors to enter their credit card's verification value at the time they make an online donation. Organizations that do not follow this rule will no longer be treated as valid political organizations under the tax code.
Important Definitions
Credit verification value: The security code on a credit card that verifies the cardholder has the physical card.
Effective Date
The rule applies to donations made in tax years beginning after the date this act becomes law. Not specified in bill text when that specific date is.
Important: This plain English summary was generated by AI and is provided for informational purposes only.
It is not legal advice. Always consult the official bill text on Congress.gov
or a qualified attorney for legal matters.