This bill amends section 2112 of title 44, United States Code, to establish significant new limitations and transparency requirements for donations made to Presidential Libraries and Centers. Its primary goal is to prevent undue influence and enhance public trust by restricting who can donate and how much, particularly during a President's tenure and immediately following their departure from office.

The legislation makes it unlawful for Presidential Libraries or Centers to solicit or accept donations from specific sources while the individual for whom the library is established is serving as or has been elected President. These restricted sources include registered lobbyists, registered agents of foreign principals, federal contractors, foreign nationals, and individuals seeking or having received a presidential pardon, unless they are a 501(c)(3) tax-exempt organization. A similar prohibition applies to these entities making donations.

Furthermore, a two-year "cooling-off period" is imposed after a President leaves office, during which donations from these same restricted categories are prohibited. The bill also introduces an aggregate donation limit, making it unlawful for any person to contribute more than $10,000 (indexed for inflation) to a Presidential Library or Center from the time the individual is elected President until one year after they leave office.

To ensure transparency, the bill mandates quarterly reporting by Presidential Libraries or Centers to the Archivist for donations of $200 or more from "covered persons." These reports must detail the donation amount, date, and the donor's name, address, employer, and occupation. The Archivist is then required to publish these reports online within 30 days in a searchable and downloadable format.

Finally, the bill includes robust enforcement mechanisms, allowing for civil and criminal actions by the Attorney General or state attorneys general. Penalties for violations include significant fines, potential imprisonment, and disgorgement of donations, with increased penalties for larger aggregate violations exceeding $50,000. It also prohibits converting donations for personal use and making donations in another person's name.