4 CITIZENS UNITED v. FEDERAL ELECTION COMM’N Opinion of the Court election . . . is being held within 30 days.” §100.29(b)(3)(ii). Corporations and unions are barred from using their general treasury funds for express advocacy or electioneering communications. They may establish, however, a “separate segregated fund” (known as a politi cal action committee, or PAC) for these purposes. 2 U. S. C. §441b(b)(2). The moneys received by the segre gated fund are limited to donations from stockholders and employees of the corporation or, in the case of unions, members of the union. Ibid. C Citizens United wanted to make Hillary available through video-on-demand within 30 days of the 2008 primary elections. It feared, however, that both the film and the ads would be covered by §441b’s ban on corporate funded independent expenditures, thus subjecting the corporation to civil and criminal penalties under §437g. In December 2007, Citizens United sought declaratory and injunctive relief against the FEC. It argued that (1) §441b is unconstitutional as applied to Hillary; and (2) BCRA’s disclaimer and disclosure requirements, BCRA §§201 and 311, are unconstitutional as applied to Hillary and to the three ads for the movie. The District Court denied Citizens United’s motion for a preliminary injunction, 530 F. Supp. 2d 274 (DC 2008) (per curiam), and then granted the FEC’s motion for summary judgment, App. 261a–262a. See id., at 261a (“Based on the reasoning of our prior opinion, we find that the [FEC] is entitled to judgment as a matter of law. See Citizen[s] United v. FEC, 530 F. Supp. 2d 274 (D.D.C. 2008) (denying Citizens United’s request for a preliminary injunction)”). The court held that §441b was facially constitutional under McConnell, and that §441b was constitutional as applied to Hillary because it was “sus ceptible of no other interpretation than to inform the