Requires a lobbying activity report on legislation lobbied and position taken by a lobbyist or lobbyist's employer; requires the report to be filed within 48 hours of the commencement of lobbying activity, and identify the specific legislation lobbied, the position taken, and whether that position has changed; requires reporting by any lobbyist or lobbyist's employer who is required to file an expenditure report or registration statement; preserves lobbying activity reports for at least ten years, and provides for public disclosure.