U.S. Congress - Text of S.3312 as Introduced in Senate Presidential Funding Act
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A bill to amend the Internal Revenue Code of 1986 to reform the system of public financing for Presidential elections, and for other purposes.
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S 3312 ISCommentsClose CommentsPermalink
112th CONGRESSCommentsClose CommentsPermalink
2d SessionCommentsClose CommentsPermalink
S. 3312CommentsClose CommentsPermalink
To amend the Internal Revenue Code of 1986 to reform the system of public financing for Presidential elections, and for other purposes.CommentsClose CommentsPermalink
IN THE SENATE OF THE UNITED STATESCommentsClose CommentsPermalink
June 19, 2012CommentsClose CommentsPermalink
June 19, 2012CommentsClose CommentsPermalink
Mr. UDALL of Colorado introduced the following bill; which was read twice and referred to the Committee on Rules and AdministrationCommentsClose CommentsPermalink
A BILLCommentsClose CommentsPermalink
To amend the Internal Revenue Code of 1986 to reform the system of public financing for Presidential elections, and for other purposes.CommentsClose CommentsPermalink
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title- This Act may be cited as the ‘Presidential Funding Act’.CommentsClose CommentsPermalink
(b) Table of Contents- The table of contents of this Act is as follows:CommentsClose CommentsPermalink
Sec. 1. Short title; table of contents.CommentsClose CommentsPermalink
TITLE I--PRIMARY ELECTIONS
Sec. 101. Increase in and modifications to matching payments.CommentsClose CommentsPermalink
Sec. 102. Eligibility requirements for matching payments.CommentsClose CommentsPermalink
Sec. 103. Inflation adjustment for contribution limitations and matching contributions.CommentsClose CommentsPermalink
Sec. 104. Repeal of expenditure limitations.CommentsClose CommentsPermalink
Sec. 105. Period of availability of matching payments.CommentsClose CommentsPermalink
Sec. 106. Examination and audits of matchable contributions.CommentsClose CommentsPermalink
Sec. 107. Modification to limitation on contributions for presidential primary candidates.CommentsClose CommentsPermalink
TITLE II--GENERAL ELECTIONS
Sec. 201. Modification of eligibility requirements for public financing.CommentsClose CommentsPermalink
Sec. 202. Repeal of expenditure limitations and use of qualified campaign contributions.CommentsClose CommentsPermalink
Sec. 203. Matching payments and other modifications to payment amounts.CommentsClose CommentsPermalink
Sec. 204. Inflation adjustment for payment amounts and qualified contributions.CommentsClose CommentsPermalink
Sec. 205. Increase in limit on coordinated party expenditures.CommentsClose CommentsPermalink
Sec. 206. Establishment of uniform date for release of payments.CommentsClose CommentsPermalink
Sec. 207. Amounts in Presidential Election Campaign Fund.CommentsClose CommentsPermalink
Sec. 208. Use of general election payments for general election legal and accounting compliance.CommentsClose CommentsPermalink
TITLE III--POLITICAL CONVENTIONS
Sec. 301. Repeal of public financing of party conventions.CommentsClose CommentsPermalink
Sec. 302. Contributions for political conventions.CommentsClose CommentsPermalink
Sec. 303. Prohibition on use of soft money.CommentsClose CommentsPermalink
TITLE IV--OTHER PROVISIONS
Sec. 401. Revisions to designation of income tax payments by individual taxpayers.CommentsClose CommentsPermalink
Sec. 402. Regulations with respect to best efforts for identifying persons making contributions.CommentsClose CommentsPermalink
Sec. 403. Prohibition on joint fundraising committees.CommentsClose CommentsPermalink
Sec. 404. Disclosure of bundled contributions to presidential campaigns.CommentsClose CommentsPermalink
Sec. 405. Judicial review of actions related to campaign finance laws.CommentsClose CommentsPermalink
TITLE V--SEVERABILITY AND EFFECTIVE DATE
Sec. 501. Severability.CommentsClose CommentsPermalink
Sec. 502. Effective date.CommentsClose CommentsPermalink
TITLE I--PRIMARY ELECTIONSCommentsClose CommentsPermalink
TITLE I--PRIMARY ELECTIONSCommentsClose CommentsPermalink
SEC. 101. INCREASE IN AND MODIFICATIONS TO MATCHING PAYMENTS.
(a) Increase and Modification-CommentsClose CommentsPermalink
(1) IN GENERAL- The first sentence of section 9034(a) of the Internal Revenue Code of 1986 is amended--CommentsClose CommentsPermalink
(A) by striking ‘an amount equal to the amount of each contribution’ and inserting ‘an amount equal to 400 percent of the amount of each matchable contribution’; andCommentsClose CommentsPermalink
(B) by striking ‘authorized committees’ and all that follows through ‘$250’ and inserting ‘authorized committees’.CommentsClose CommentsPermalink
(2) MATCHABLE CONTRIBUTIONS- Section 9034 of such Code is amended--CommentsClose CommentsPermalink
(A) by striking the last sentence of subsection (a); andCommentsClose CommentsPermalink
(B) by inserting after subsection (b) the following new subsection:CommentsClose CommentsPermalink
‘(c) Matchable Contribution Defined- For purposes of this section and section 9033(b)--CommentsClose CommentsPermalink
‘(1) MATCHABLE CONTRIBUTION- The term ‘matchable contribution’ means, with respect to the nomination for election to the office of President of the United States, a contribution by an individual to a candidate or an authorized committee of a candidate--CommentsClose CommentsPermalink
‘(A) which does not exceed $200, andCommentsClose CommentsPermalink
‘(B) with respect to which the candidate has certified in writing that--CommentsClose CommentsPermalink
‘(i) the individual making such contribution has not made aggregate contributions (including such matchable contribution) to such candidate and the authorized committees of such candidate in excess of $200 with respect to such nomination,CommentsClose CommentsPermalink
‘(ii) such candidate and the authorized committees of such candidate will not accept contributions from such individual (including such matchable contribution) aggregating more than $200 with respect to such nomination, andCommentsClose CommentsPermalink
‘(iii) such contribution was not--CommentsClose CommentsPermalink
‘(I) forwarded from the contributor from any person other than an individual, orCommentsClose CommentsPermalink
‘(II) received by the candidate or committee from a contributor or contributors, but credited by the committee or candidate to another person who is not an individual through records, designations, or other means of recognizing that a certain amount of money has been raised by such person.CommentsClose CommentsPermalink
‘(2) CONTRIBUTION- For purposes of this subsection, the term ‘contribution’ means a gift of money made by a written instrument which identifies the individual making the contribution by full name and mailing address, but does not include a subscription, loan, advance, or deposit of money, or anything of value or anything described in subparagraph (B), (C), or (D) of section 9032(4).’.CommentsClose CommentsPermalink
(3) CONFORMING AMENDMENTS-CommentsClose CommentsPermalink
(A) Section 9032(4) of such Code is amended by striking ‘section 9034(a)’ and inserting ‘section 9034’.CommentsClose CommentsPermalink
(B) Section 9033(b)(3) of such Code is amended by striking ‘matching contributions’ and inserting ‘matchable contributions’.CommentsClose CommentsPermalink
(b) Modification of Payment Limitation- Section 9034(b) of the Internal Revenue Code of 1986 is amended by striking ‘shall not exceed’ and all that follows and inserting ‘shall not exceed $100,000,000.’.CommentsClose CommentsPermalink
SEC. 102. ELIGIBILITY REQUIREMENTS FOR MATCHING PAYMENTS.
(a) Amount of Aggregate Contributions Per State- Section 9033(b)(3) of the Internal Revenue Code of 1986 is amended by striking ‘$5,000’ and inserting ‘$25,000’.CommentsClose CommentsPermalink
(b) Contribution Limit-CommentsClose CommentsPermalink
(1) IN GENERAL- Paragraph (4) of section 9033(b) of such Code is amended to read as follows:CommentsClose CommentsPermalink
‘(4) the candidate and the authorized committees of the candidate will not accept aggregate contributions from any person with respect to the nomination for election to the office of President of the United States in excess of $1,000.’.CommentsClose CommentsPermalink
(2) CONFORMING AMENDMENTS-CommentsClose CommentsPermalink
(A) Section 9033(b) of such Code is amended by adding at the end the following new flush sentence:CommentsClose CommentsPermalink
‘For purposes of paragraph (4), the term ‘contribution’ has the meaning given such term in section 301(8) of the Federal Election Campaign Act of 1971.’.CommentsClose CommentsPermalink
(B) Section 9032(4) of such Code, as amended by section 101(a)(3)(A) is amended by inserting ‘or 9033(b)’ after ‘9034’.CommentsClose CommentsPermalink
(c) Participation in System for Payments for General Election- Section 9033(b) of such Code is amended--CommentsClose CommentsPermalink
(1) by striking ‘and’ at the end of paragraph (3);CommentsClose CommentsPermalink
(2) by striking the period at the end of paragraph (4) and inserting ‘, and’; andCommentsClose CommentsPermalink
(3) by adding at the end the following new paragraph:CommentsClose CommentsPermalink
‘(5) if the candidate is nominated by a political party for election to the office of President, the candidate will apply for and accept payments with respect to the general election for such office in accordance with chapter 95.’.CommentsClose CommentsPermalink
SEC. 103. INFLATION ADJUSTMENT FOR CONTRIBUTION LIMITATIONS AND MATCHING CONTRIBUTIONS.
Section 9033 of such Code is amended by adding at the end the following new subsection:CommentsClose CommentsPermalink
‘(d) Inflation Adjustments-CommentsClose CommentsPermalink
‘(1) IN GENERAL- In the case of any applicable period beginning after 2012, each of the dollar amounts in paragraphs (3) and (4) of subsection (b), subsection (c), and section 9034(b) shall be increased by an amount equal to--CommentsClose CommentsPermalink
‘(A) such dollar amount, multiplied byCommentsClose CommentsPermalink
‘(B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year following the year which such applicable period begins, determined by substituting ‘calendar year 2012’ for ‘calendar year 1992’ in subparagraph (B) thereof.CommentsClose CommentsPermalink
‘(2) APPLICABLE PERIOD- For purposes of this subsection, the term ‘applicable period’ means the 4-year period beginning with the first day following the date of the last general election for the office of President and ending on the date of the next such general election.CommentsClose CommentsPermalink
‘(3) ROUNDING- If any amount as adjusted under paragraph (1) is not a multiple of $100, such amount shall be rounded to the nearest multiple of $100.’.CommentsClose CommentsPermalink
SEC. 104. REPEAL OF EXPENDITURE LIMITATIONS.
(a) In General- Subsection (a) of section 9035 of the Internal Revenue Code of 1986 is amended to read as follows:CommentsClose CommentsPermalink
‘(a) Personal Expenditure Limitation- No candidate shall knowingly make expenditures from his personal funds, or the personal funds of his immediate family, in connection with his campaign for nomination for election to the office of President in excess of, in the aggregate, $50,000.’.CommentsClose CommentsPermalink
(b) Conforming Amendment- Paragraph (1) of section 9033(b) of the Internal Revenue Code of 1986 is amended to read as follows:CommentsClose CommentsPermalink
‘(1) the candidate will comply with the personal expenditure limitation under section 9035,’.CommentsClose CommentsPermalink
SEC. 105. PERIOD OF AVAILABILITY OF MATCHING PAYMENTS.
Section 9032(6) of such Code is amended by striking ‘the beginning of the calendar year in which a general election for the office of President of the United States will be held’ and inserting ‘the date that is 6 months prior to the date of the earliest State primary election’.CommentsClose CommentsPermalink
SEC. 106. EXAMINATION AND AUDITS OF MATCHABLE CONTRIBUTIONS.
Section 9038(a) of the Internal Revenue Code of 1986 is amended by inserting ‘and matchable contributions accepted by’ after ‘qualified campaign expenses of’.CommentsClose CommentsPermalink
SEC. 107. MODIFICATION TO LIMITATION ON CONTRIBUTIONS FOR PRESIDENTIAL PRIMARY CANDIDATES.
Section 315(a)(6) of the Federal Election Campaign Act of 1971 (
TITLE II--GENERAL ELECTIONSCommentsClose CommentsPermalink
TITLE II--GENERAL ELECTIONSCommentsClose CommentsPermalink
SEC. 201. MODIFICATION OF ELIGIBILITY REQUIREMENTS FOR PUBLIC FINANCING.
Section 9003(a) of the Internal Revenue Code of 1986 is amended to read as follows:CommentsClose CommentsPermalink
‘(a) In General- In order to be eligible to receive any payments under section 9006, the candidates of a political party in a presidential election shall meet the following requirements:CommentsClose CommentsPermalink
‘(1) PARTICIPATION IN PRIMARY PAYMENT SYSTEM- The candidate for President received payments under chapter 96 for the campaign for nomination for election to be President.CommentsClose CommentsPermalink
‘(2) AGREEMENTS WITH COMMISSION- The candidates, in writing--CommentsClose CommentsPermalink
‘(A) agree to obtain and furnish to the Commission such evidence as it may request of the qualified campaign expenses of such candidates,CommentsClose CommentsPermalink
‘(B) agree to keep and furnish to the Commission such records, books, and other information as it may request, andCommentsClose CommentsPermalink
‘(C) agree to an audit and examination by the Commission under section 9007 and to pay any amounts required to be paid under such section.CommentsClose CommentsPermalink
‘(3) BAN ON CERTAIN CONTRIBUTIONS AND SOLICITATIONS- The candidates certify to the Commission, under penalty of perjury, the following:CommentsClose CommentsPermalink
‘(A) SOLICITATIONS FOR JOINT FUNDRAISING COMMITTEES- Such candidates and their authorized committees will not, after June 1 of the election year, solicit any funds for any joint fundraising committee that includes any committee of a political party.CommentsClose CommentsPermalink
‘(B) SOLICITATION FOR POLITICAL PARTIES- Such candidates and their authorized committees will not, after the date described in section 9006(b), solicit any funds for any committee of a political party.CommentsClose CommentsPermalink
Such certification shall be made within such time prior to the day of the presidential election as the Commission shall prescribe by rules or regulations.’.CommentsClose CommentsPermalink
SEC. 202. REPEAL OF EXPENDITURE LIMITATIONS AND USE OF QUALIFIED CAMPAIGN CONTRIBUTIONS.
(a) Major Parties- Subsection (b) of section 9003 of the Internal Revenue Code of 1986 is amended to read as follows:CommentsClose CommentsPermalink
‘(b) Major Parties- In order to be eligible to receive any payments under section 9006, the candidates of a major party in a presidential election shall certify to the Commission, under penalty of perjury, that--CommentsClose CommentsPermalink
‘(1) such candidates and their authorized committees have not and will not accept any contributions to defray qualified campaign expenses other than--CommentsClose CommentsPermalink
‘(A) qualified campaign contributions, andCommentsClose CommentsPermalink
‘(B) contributions to the extent necessary to make up any deficiency payments received out of the fund on account of the application of section 9006(c), andCommentsClose CommentsPermalink
‘(2) such candidates and their authorized committees have not and will not accept any contribution to defray expenses which would be qualified campaign expenses but for subparagraph (C) of section 9002(11).CommentsClose CommentsPermalink
Such certification shall be made at the same time as the certification required under subsection (a)(3).’.CommentsClose CommentsPermalink
(b) Minor and New Parties- Subsection (c) of section 9003 of the Internal Revenue Code of 1986 is amended to read as follows:CommentsClose CommentsPermalink
‘(c) Minor and New Parties- In order to be eligible to receive any payments under section 9006, the candidates of a minor or new party in a presidential election shall certify to the Commission, under penalty of perjury, that such candidates and their authorized committees have not and will not accept any contributions to defray qualified campaign expenses other than--CommentsClose CommentsPermalink
‘(1) qualified campaign contributions, andCommentsClose CommentsPermalink
‘(2) contributions other than qualified campaign contributions to the extent to which--CommentsClose CommentsPermalink
‘(A) the aggregate payments to which such candidates would be entitled under section 9004 if such candidates were candidates of a major party, exceedCommentsClose CommentsPermalink
‘(B) the aggregate payments to which such candidates are entitled to under section 9004.CommentsClose CommentsPermalink
Such certification shall be made at the same time as the certification required under subsection (a)(3).’.CommentsClose CommentsPermalink
(c) Definition of Qualified Campaign Contributions- Section 9002 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:CommentsClose CommentsPermalink
‘(13) QUALIFIED CAMPAIGN CONTRIBUTION- The term ‘qualified campaign contribution’ means, with respect to any election for the office of President of the United States, a contribution from a person to a candidate or an authorized committee of a candidate which--CommentsClose CommentsPermalink
‘(A) is made after June 1 of the year in which the election is held,CommentsClose CommentsPermalink
‘(B) does not exceed $1,000, andCommentsClose CommentsPermalink
‘(C) with respect to which the candidate has certified in writing that--CommentsClose CommentsPermalink
‘(i) the person making such contribution has not made aggregate contributions (including such qualified contribution) to such candidate and the authorized committees of such candidate in excess of $1,000 with respect to such election, andCommentsClose CommentsPermalink
‘(ii) such candidate and the authorized committees of such candidate will not accept contributions from such person (including such qualified contribution) aggregating more than $1,000 with respect to such election.’.CommentsClose CommentsPermalink
(d) Conforming Amendments-CommentsClose CommentsPermalink
(1) REPEAL OF EXPENDITURE LIMITS-CommentsClose CommentsPermalink
(A) Section 315 of the Federal Election Campaign Act of 1971 (
(B) Section 315(c) of such Act (
(i) in paragraph (1)(B)(i), by striking ‘, (b)’; andCommentsClose CommentsPermalink
(ii) in paragraph (2)(B)(i), by striking ‘subsections (b) and (d)’ and inserting ‘subsection (d)’.CommentsClose CommentsPermalink
(2) LIMITATION ON PAYMENTS TO CANDIDATES OF MINOR AND NEW PARTIES- Paragraph (1) of section 9004(b) of the Internal Revenue Code of 1986 is amended by inserting ‘, other than qualified contributions,’ after ‘contributions’.CommentsClose CommentsPermalink
(3) REPAYMENTS-CommentsClose CommentsPermalink
(A) Section 9007(b) of such Code is amended by striking paragraph (2) and redesignating paragraphs (3), (4), and (5) as paragraphs (2), (3), and (4), respectively.CommentsClose CommentsPermalink
(B) Paragraph (2) of section 9007(b) of such Code, as redesignated by subparagraph (A), is amended by inserting ‘qualified contributions and’ after ‘contributions (other than’.CommentsClose CommentsPermalink
(4) CRIMINAL PENALTIES-CommentsClose CommentsPermalink
(A) EXCESS EXPENSES- Section 9012(a) of the Internal Revenue Code of 1986 is amended by striking the first sentence.CommentsClose CommentsPermalink
(B) CONTRIBUTIONS-CommentsClose CommentsPermalink
(i) CANDIDATES OF MAJOR PARTIES- Section 9012(b)(1) of the Internal Revenue Code of 1986 is amended by inserting ‘other than qualified contributions,’ after ‘to defray qualified campaign expenses,’.CommentsClose CommentsPermalink
(ii) CANDIDATES OF OTHER PARTIES- Section 9012(b)(2) of such Code is amended by inserting ‘, other than qualified contributions,’ after ‘contributions’.CommentsClose CommentsPermalink
SEC. 203. MATCHING PAYMENTS AND OTHER MODIFICATIONS TO PAYMENT AMOUNTS.
(a) In General-CommentsClose CommentsPermalink
(1) AMOUNT OF PAYMENTS FOR MAJOR PARTY CANDIDATES- Subsection (a) of section 9004 of the Internal Revenue Code of 1986 is amended to read as follows:CommentsClose CommentsPermalink
‘(a) In General- Subject to the provisions of this chapter--CommentsClose CommentsPermalink
‘(1) MAJOR PARTIES- The eligible candidates of each major party in a presidential election shall be entitled to equal payment under section 9006 in an amount equal to--CommentsClose CommentsPermalink
‘(A) $50,000,000, plusCommentsClose CommentsPermalink
‘(B) an amount equal to 400 percent of the amount of each matchable contribution received by such candidate on or after June 1 of the year of the presidential election, or by his authorized committees.CommentsClose CommentsPermalink
The total amount of payments to which a major party candidate is entitled under subparagraph (B) shall not exceed $150,000,000.CommentsClose CommentsPermalink
‘(2) PRE-ELECTION PAYMENTS FOR MINOR AND NEW PARTIES-CommentsClose CommentsPermalink
‘(A) PAYMENT BASED ON PRIOR VOTES RECEIVED BY PARTY-CommentsClose CommentsPermalink
‘(i) IN GENERAL- The eligible candidates of a minor party in a presidential election shall be entitled to equal payment under section 9006 in an amount equal to the sum of--CommentsClose CommentsPermalink
‘(I) the product of the popular vote ratio with respect to such minor party and the amount in effect under paragraph (1)(A), plusCommentsClose CommentsPermalink
‘(II) an amount equal to the applicable percentage of the amount of each matchable contribution received by such candidate on or after June 1 of the year of the presidential election, or by his authorized committees.CommentsClose CommentsPermalink
The total amount of payments to which such a candidate is entitled under subclause (II) shall not exceed the product of the amount in effect under the last sentence of paragraph (1)(A) and the popular vote ratio with respect to such minor party.CommentsClose CommentsPermalink
‘(ii) POPULAR VOTE RATIO WITH RESPECT TO A MINOR PARTY- For purposes of this subparagraph, the popular vote ratio with respect to a minor party is the ratio of the number of popular votes received by the candidate for President of the minor party, as such candidate, in the preceding presidential election to the average number of popular votes received by the candidates for President of the major parties in the preceding presidential election.CommentsClose CommentsPermalink
‘(iii) APPLICABLE PERCENTAGE- For purposes of subparagraph (A), the applicable percentage is the product of 400 percent and the popular vote ratio with respect to such minor party.CommentsClose CommentsPermalink
‘(B) PAYMENT BASED ON PRIOR VOTES RECEIVED BY CANDIDATE-CommentsClose CommentsPermalink
‘(i) IN GENERAL- If the candidate of one or more political parties (not including a major party) for the office of President was a candidate for such office in the preceding presidential election and received 5 percent or more but less than 25 percent of the total number of popular votes received by all candidates for such office, such candidate and his running mate for the office of Vice President, upon compliance with the provisions of section 9003(a) and (c), shall be treated as eligible candidates entitled to payments under section 9006 in an amount computed as provided in subparagraph (A), determined by substituting ‘the popular vote ratio with respect to such candidate’ for ‘the popular vote ratio with respect to such minor party’ each place it appears.CommentsClose CommentsPermalink
‘(ii) POPULAR VOTE RATIO WITH RESPECT TO A CANDIDATE- For purposes of this subparagraph, the popular vote ratio with respect to a candidate is the ratio of the number of popular votes received by such candidate for the office of President in the preceding presidential election to the average number of popular votes received by the candidates for President of the major parties in the preceding presidential election.CommentsClose CommentsPermalink
‘(iii) COORDINATION RULE- If eligible candidates of a minor party are entitled to payments under this subparagraph, such entitlement shall be reduced by the amount of the entitlement allowed under subparagraph (A).CommentsClose CommentsPermalink
‘(3) POST-ELECTION PAYMENTS FOR MINOR AND NEW PARTIES-CommentsClose CommentsPermalink
‘(A) IN GENERAL- The eligible candidates of a minor party or a new party in a presidential election whose candidate for President in such election receives, as such candidate, 5 percent or more of the total number of popular votes cast for the office of President in such election shall be entitled to payments under section 9006 equal to the sum of--CommentsClose CommentsPermalink
‘(i) the product of the popular vote ratio with respect to such candidate and the amount in effect under paragraph (1)(A), plusCommentsClose CommentsPermalink
‘(ii) an amount equal to the applicable percentage of the amount of each matchable contribution received by such candidate on or after June 1 of the year of the presidential election, or by his authorized committees.CommentsClose CommentsPermalink
The total amount of payments to which such a candidate is entitled under clause (ii) shall not exceed the product of the amount in effect under the last sentence of paragraph (1)(A) and the popular vote ratio with respect to such candidate.CommentsClose CommentsPermalink
‘(B) POPULAR VOTE RATIO WITH RESPECT TO A CANDIDATE- For purposes of this paragraph, the popular vote ratio with respect to a candidate in a presidential election is the ratio of the number of popular votes received by such candidate for the office of President in such election to the average number of popular votes received by the candidates for President of the major parties in such election.CommentsClose CommentsPermalink
‘(C) APPLICABLE PERCENTAGE- For purposes of subparagraph (A), the applicable percentage is the product of 400 percent and the popular vote ratio with respect to such candidate.CommentsClose CommentsPermalink
‘(D) COORDINATION RULE- In the case of eligible candidates entitled to payments under paragraph (2), the amount allowable under this paragraph shall be limited to the amount, if any, by which the entitlement under the preceding sentence exceeds the amount of the entitlement under paragraph (2).’.CommentsClose CommentsPermalink
(2) CONFORMING AMENDMENT- Section 9005(a) is amended by adding at the end the following new sentence: ‘The Commission shall make such additional certifications as may be necessary to receive payments under section 9004.’.CommentsClose CommentsPermalink
(b) Matchable Contribution- Section 9002 of such Code, as amended by section 202, is amended by adding at the end the following new paragraph:CommentsClose CommentsPermalink
‘(14) MATCHABLE CONTRIBUTION- The term ‘matchable contribution’ means, with respect to the election to the office of President of the United States, a contribution by an individual to a candidate or an authorized committee of a candidate--CommentsClose CommentsPermalink
‘(A) which does not exceed $200, andCommentsClose CommentsPermalink
‘(B) with respect to which the candidate has certified in writing that--CommentsClose CommentsPermalink
‘(i) the individual making such contribution has not made aggregate contributions (including such matchable contribution) to such candidate and the authorized committees of such candidate in excess of $200 with respect to such election,CommentsClose CommentsPermalink
‘(ii) such candidate and the authorized committees of such candidate will not accept contributions from such individual (including such matchable contribution) aggregating more than $200 with respect to such election, andCommentsClose CommentsPermalink
‘(iii) such contribution was not--CommentsClose CommentsPermalink
‘(I) forwarded from the contributor from any person other than an individual, orCommentsClose CommentsPermalink
‘(II) received by the candidate or committee from a contributor or contributors, but credited by the committee or candidate to another person who is not an individual through records, designations, or other means of recognizing that a certain amount of money has been raised by such person.’.CommentsClose CommentsPermalink
SEC. 204. INFLATION ADJUSTMENT FOR PAYMENT AMOUNTS AND QUALIFIED CONTRIBUTIONS.
Section 9004 of such Code is amended by adding at the end the following new subsection:CommentsClose CommentsPermalink
‘(f) Inflation Adjustments-CommentsClose CommentsPermalink
‘(1) IN GENERAL- In the case of any applicable period beginning after 2016, each of the dollar amounts in subsection (a), section 9002(13), and section 9002(14) shall be increased by an amount equal to--CommentsClose CommentsPermalink
‘(A) such dollar amount, multiplied byCommentsClose CommentsPermalink
‘(B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year following the year which such applicable period begins, determined by substituting ‘calendar year 2016’ for ‘calendar year 1992’ in subparagraph (B) thereof.CommentsClose CommentsPermalink
‘(2) APPLICABLE PERIOD- For purposes of this subsection, the term ‘applicable period’ means the 4-year period beginning with the first day following the date of the last general election for the office of President and ending on the date of the next such general election.CommentsClose CommentsPermalink
‘(3) ROUNDING- If any amount as adjusted under paragraph (1) is not a multiple of $100, such amount shall be rounded to the nearest multiple of $100.’.CommentsClose CommentsPermalink
SEC. 205. INCREASE IN LIMIT ON COORDINATED PARTY EXPENDITURES.
(a) In General- Section 315(d)(2) of the Federal Election Campaign Act of 1971 (
‘(2)(A) The national committee of a political party may not make any expenditure in connection with the general election campaign of any candidate for President of the United States who is affiliated with such party which exceeds $50,000,000.CommentsClose CommentsPermalink
‘(B) For purposes of this paragraph--CommentsClose CommentsPermalink
‘(i) any expenditure made by or on behalf of a national committee of a political party and in connection with a presidential election shall be considered to be made in connection with the general election campaign of a candidate for President of the United States who is affiliated with such party; andCommentsClose CommentsPermalink
‘(ii) any communication made by or on behalf of such party shall be considered to be made in connection with the general election campaign of a candidate for President of the United States who is affiliated with such party if any portion of the communication is in connection with such election.CommentsClose CommentsPermalink
‘(C) Any expenditure under this paragraph shall be in addition to any expenditure by a national committee of a political party serving as the principal campaign committee of a candidate for the office of President of the United States.’.CommentsClose CommentsPermalink
(b) Conforming Amendments Relating to Timing of Cost-of-Living Adjustment-CommentsClose CommentsPermalink
(1) IN GENERAL- Section 315(c)(1) of such Act (
(A) in subparagraph (B), by striking ‘(d)’ and inserting ‘(d)(3)’; andCommentsClose CommentsPermalink
(B) by inserting at the end the following new subparagraph:CommentsClose CommentsPermalink
‘(D) In any calendar year after 2016--CommentsClose CommentsPermalink
‘(i) the dollar amount in subsection (d)(2) shall be increased by the percent difference determined under subparagraph (A);CommentsClose CommentsPermalink
‘(ii) the amount so increased shall remain in effect for the calendar year; andCommentsClose CommentsPermalink
‘(iii) if the amount after adjustment under clause (i) is not a multiple of $100, such amount shall be rounded to the nearest multiple of $100.’.CommentsClose CommentsPermalink
(2) BASE YEAR- Section 315(c)(2)(B) of such Act (
2 U.S.C. 441a(c)(2)(B) ), as amended by section 202(d)(1)(B), is amended--CommentsClose CommentsPermalink
(A) in clause (i)--CommentsClose CommentsPermalink
(i) by striking ‘(d)’ and inserting ‘(d)(3)’; andCommentsClose CommentsPermalink
(ii) by striking ‘and’ at the end;CommentsClose CommentsPermalink
(B) in clause (ii), by striking the period at the end and inserting ‘; and’; andCommentsClose CommentsPermalink
(C) by adding at the end the following new clause:CommentsClose CommentsPermalink
‘(iii) for purposes of subsection (d)(2), calendar year 2015.’.CommentsClose CommentsPermalink
SEC. 206. ESTABLISHMENT OF UNIFORM DATE FOR RELEASE OF PAYMENTS.
(a) Date for Payments-CommentsClose CommentsPermalink
(1) IN GENERAL- Section 9006(b) of the Internal Revenue Code of 1986 is amended to read as follows:CommentsClose CommentsPermalink
‘(b) Payments From the Fund- If the Secretary of the Treasury receives a certification from the Commission under section 9005 for payment to the eligible candidates of a political party, the Secretary shall pay to such candidates out of the fund the amount certified by the Commission on the later of--CommentsClose CommentsPermalink
‘(1) the last Friday occurring before the first Monday in September, orCommentsClose CommentsPermalink
‘(2) 24 hours after receiving the certifications for the eligible candidates of all major political parties.CommentsClose CommentsPermalink
Amounts paid to any such candidates shall be under the control of such candidates.’.CommentsClose CommentsPermalink
(2) CONFORMING AMENDMENT- The first sentence of section 9006(c) of such Code is amended by striking ‘the time of a certification by the Commission under section 9005 for payment’ and inserting ‘the time of making a payment under subsection (b)’.CommentsClose CommentsPermalink
(b) Time for Certification- Section 9005(a) of the Internal Revenue Code of 1986 is amended by striking ‘10 days’ and inserting ‘24 hours’.CommentsClose CommentsPermalink
SEC. 207. AMOUNTS IN PRESIDENTIAL ELECTION CAMPAIGN FUND.
(a) Determination of Amounts in Fund- Section 9006(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: ‘In making a determination of whether there are insufficient moneys in the fund for purposes of the previous sentence, the Secretary shall take into account in determining the balance of the fund for a Presidential election year the Secretary’s best estimate of the amount of moneys which will be deposited into the fund during the year, except that the amount of the estimate may not exceed the average of the annual amounts deposited in the fund during the previous 3 years.’.CommentsClose CommentsPermalink
(b) Special Rule for First Campaign Cycle Under This Act-CommentsClose CommentsPermalink
(1) IN GENERAL- Section 9006 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:CommentsClose CommentsPermalink
‘(d) Special Authority To Borrow-CommentsClose CommentsPermalink
‘(1) IN GENERAL- Notwithstanding subsection (c), there are authorized to be appropriated to the fund, as repayable advances, such sums as are necessary to carry out the purposes of the fund during the period ending on the first presidential election occurring after the date of the enactment of this subsection.CommentsClose CommentsPermalink
‘(2) REPAYMENT OF ADVANCES-CommentsClose CommentsPermalink
‘(A) IN GENERAL- Advances made to the fund shall be repaid, and interest on such advances shall be paid, to the general fund of the Treasury when the Secretary determines that moneys are available for such purposes in the fund.CommentsClose CommentsPermalink
‘(B) RATE OF INTEREST- Interest on advances made to the fund shall be at a rate determined by the Secretary of the Treasury (as of the close of the calendar month preceding the month in which the advance is made) to be equal to the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the anticipated period during which the advance will be outstanding and shall be compounded annually.’.CommentsClose CommentsPermalink
(2) EFFECTIVE DATE- The amendment made by this subsection shall take effect January 1, 2013.CommentsClose CommentsPermalink
SEC. 208. USE OF GENERAL ELECTION PAYMENTS FOR GENERAL ELECTION LEGAL AND ACCOUNTING COMPLIANCE.
Section 9002(11) of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: ‘For purposes of subparagraph (A), an expense incurred by a candidate or authorized committee for general election legal and accounting compliance purposes shall be considered to be an expense to further the election of such candidate.’.CommentsClose CommentsPermalink
TITLE III--POLITICAL CONVENTIONSCommentsClose CommentsPermalink
TITLE III--POLITICAL CONVENTIONSCommentsClose CommentsPermalink
SEC. 301. REPEAL OF PUBLIC FINANCING OF PARTY CONVENTIONS.
(a) In General- Chapter 95 of the Internal Revenue Code of 1986 is amended by striking section 9008.CommentsClose CommentsPermalink
(b) Conforming Amendments-CommentsClose CommentsPermalink
(1) Section 9006(c) of such Code is amended by striking ‘section 9008(b)(3)’.CommentsClose CommentsPermalink
(2) Section 9009 of such Code is amended by inserting ‘and’ at the end of paragraph (3), by striking the semi-colon at the end of paragraph (4) and inserting a period, and by striking paragraphs (5) and (6).CommentsClose CommentsPermalink
(3) Section 9012 of such Code, as amended by section 202(d)(4), is amended--CommentsClose CommentsPermalink
(A) by striking subsection (a) and redesignating subsections (b) through (f) as subsections (a) through (e), respectively; andCommentsClose CommentsPermalink
(B) in subsection (a), as redesignated by subparagraph (A), by striking paragraph (2) and redesignating paragraph (3) as paragraph (2).CommentsClose CommentsPermalink
(4) Section 9037(a) of such Code is amended by striking ‘and for payments under section 9008(b)(3)’.CommentsClose CommentsPermalink
SEC. 302. CONTRIBUTIONS FOR POLITICAL CONVENTIONS.
(a) Separate Contribution Limitation-CommentsClose CommentsPermalink
(1) INDIVIDUALS-CommentsClose CommentsPermalink
(A) IN GENERAL- Subsection (a)(1) of section 315 of the Federal Election Campaign Act of 1971 (
‘(E) to the national nominating convention account of political committees established and maintained by a national political party, in any 4-year period ending on the last day of the calendar year beginning on the day after a general election for the office of President which, in the aggregate, exceed the dollar amount in effect under subparagraph (B);’.CommentsClose CommentsPermalink
(B) CONFORMING AMENDMENT- Subparagraph (B) of section 315(a)(1) of such Act (
(2) AGGREGATE CONTRIBUTION LIMITATION- Paragraph (3) of section 315(a) of such Act (
‘The dollar amount in subparagraph (B) shall be increased by the amount of contributions (not in excess of the dollar amount in effect under subparagraph (E)) made to the national nominating convention account of a political committee established and maintained by a national political party during the period described in the preceding sentence.’.CommentsClose CommentsPermalink
(b) National Nominating Convention Account- Subsection (a) of section 315 of such Act (
‘(9) For purposes of this subsection, the national nomination convention account of any political committees established and maintained by a national political party is a separate account the funds of which may only be used to defray the costs of the national nominating convention of such party.’.CommentsClose CommentsPermalink
SEC. 303. PROHIBITION ON USE OF SOFT MONEY.
Section 323 of the Federal Election Campaign Act of 1971 (
‘(g) National Conventions- Any person described in subsection (a) or (e) shall not solicit, receive, direct, transfer, or spend any funds in connection with a presidential nominating convention of any political party, including funds from or for a host committee, civic committee, municipality, or any other person or entity spending funds in connection with such a convention, unless such funds--CommentsClose CommentsPermalink
‘(1) are not in excess of the amounts permitted with respect to contributions to the political committee established and maintained by a national political party committee under section 315; andCommentsClose CommentsPermalink
‘(2) are not from sources prohibited by this Act from making contributions in connection with an election for Federal office.’.CommentsClose CommentsPermalink
TITLE IV--OTHER PROVISIONSCommentsClose CommentsPermalink
TITLE IV--OTHER PROVISIONSCommentsClose CommentsPermalink
SEC. 401. REVISIONS TO DESIGNATION OF INCOME TAX PAYMENTS BY INDIVIDUAL TAXPAYERS.
(a) Increase in Amount Designated- Section 6096(a) of the Internal Revenue Code of 1986 is amended--CommentsClose CommentsPermalink
(1) in the first sentence, by striking ‘$3’ each place it appears and inserting ‘$10’; andCommentsClose CommentsPermalink
(2) in the second sentence--CommentsClose CommentsPermalink
(A) by striking ‘$6’ and inserting ‘$20’; andCommentsClose CommentsPermalink
(B) by striking ‘$3’ and inserting ‘$10’.CommentsClose CommentsPermalink
(b) Indexing- Section 6096 of such Code is amended by adding at the end the following new subsection:CommentsClose CommentsPermalink
‘(d) Indexing of Amount Designated-CommentsClose CommentsPermalink
‘(1) IN GENERAL- With respect to each taxable year after 2012, each amount referred to in subsection (a) shall be increased by the percent difference described in paragraph (2), except that if any such amount after such an increase is not a multiple of $1, such amount shall be rounded to the nearest multiple of $1.CommentsClose CommentsPermalink
‘(2) PERCENT DIFFERENCE DESCRIBED- The percent difference described in this paragraph with respect to a taxable year is the percent difference determined under section 315(c)(1)(A) of the Federal Election Campaign Act of 1971 with respect to the calendar year during which the taxable year begins, except that the base year involved shall be 2011.’.CommentsClose CommentsPermalink
(c) Ensuring Tax Preparation Software Does Not Provide Automatic Response to Designation Question- Section 6096 of such Code, as amended by subsection (b), is amended by adding at the end the following new subsection:CommentsClose CommentsPermalink
‘(e) Ensuring Tax Preparation Software Does Not Provide Automatic Response to Designation Question- The Secretary shall promulgate regulations to ensure that electronic software used in the preparation or filing of individual income tax returns does not automatically accept or decline a designation of a payment under this section.’.CommentsClose CommentsPermalink
(d) Public Information Program on Designation- Section 6096 of such Code, as amended by subsections (b) and (c), is amended by adding at the end the following new subsection:CommentsClose CommentsPermalink
‘(f) Public Information Program-CommentsClose CommentsPermalink
‘(1) IN GENERAL- The Federal Election Commission shall conduct a program to inform and educate the public regarding the purposes of the Presidential Election Campaign Fund, the procedures for the designation of payments under this section, and the effect of such a designation on the income tax liability of taxpayers.CommentsClose CommentsPermalink
‘(2) USE OF FUNDS FOR PROGRAM- Amounts in the Presidential Election Campaign Fund shall be made available to the Federal Election Commission to carry out the program under this subsection, except that the amount made available for this purpose may not exceed $10,000,000 with respect to any Presidential election cycle. In this paragraph, a ‘Presidential election cycle’ is the 4-year period beginning with January of the year following a Presidential election.’.CommentsClose CommentsPermalink
(e) Effective Date- The amendments made by this section shall take effect January 1, 2013.CommentsClose CommentsPermalink
SEC. 402. REGULATIONS WITH RESPECT TO BEST EFFORTS FOR IDENTIFYING PERSONS MAKING CONTRIBUTIONS.
Not later than 6 months after the date of enactment of this Act, the Federal Election Commission shall promulgate regulations with respect to what constitutes best efforts under section 302(i) of the Federal Election Campaign Act of 1971 (
SEC. 403. PROHIBITION ON JOINT FUNDRAISING COMMITTEES.
(a) In General- Section 302(e) of the Federal Election Campaign Act of 1971 (
‘(6) No authorized committee of a candidate may establish a joint fundraising committee with a political committee other than an authorized committee of a candidate.’.CommentsClose CommentsPermalink
(b) Effective Date- The amendments made by this section shall take effect on January 1, 2013.CommentsClose CommentsPermalink
SEC. 404. DISCLOSURE OF BUNDLED CONTRIBUTIONS TO PRESIDENTIAL CAMPAIGNS.
(a) In General- Paragraphs (1) through (3) of section 304(i) of the Federal Election Campaign Act of 1971 (
‘(1) IN GENERAL-CommentsClose CommentsPermalink
‘(A) DISCLOSURE OF BUNDLED CONTRIBUTIONS BY LOBBYISTS- Each committee described in paragraph (6) shall include in the first report required to be filed under this section after each covered period (as defined in paragraph (2)) a separate schedule setting forth the name, address, and employer of each person reasonably known by the committee to be a person described in paragraph (7) who provided 2 or more bundled contributions to the committee in an aggregate amount greater than the applicable threshold (as defined in paragraph (3)) during the covered period, and the aggregate amount of the bundled contributions provided by each such person during the covered period.CommentsClose CommentsPermalink
‘(B) DISCLOSURE OF BUNDLED CONTRIBUTIONS TO PRESIDENTIAL CAMPAIGNS- Each committee which is an authorized committee of a candidate for the office of President or for nomination to such office shall include in the first report required to be filed under this section after each covered period (as defined in paragraph (2)) a separate schedule setting forth the name, address, and employer of each person who provided 2 or more bundled contributions to the committee in an aggregate amount greater than the applicable threshold (as defined in paragraph (3)) during the election cycle, and the aggregate amount of the bundled contributions provided by each such person during the covered period and such election cycle. Such schedule shall include a separate listing of the name, address, and employer of each person included on such schedule who is reasonably known by the committee to be a person described in paragraph (7), together with the aggregate amount of bundled contributions provided by such person during such period and such cycle.CommentsClose CommentsPermalink
‘(2) COVERED PERIOD- In this subsection, a ‘covered period’ means--CommentsClose CommentsPermalink
‘(A) with respect to a committee which is an authorized committee of a candidate for the office of President or for nomination to such office--CommentsClose CommentsPermalink
‘(i) the 4-year election cycle ending with the date of the election for the office of the President; andCommentsClose CommentsPermalink
‘(ii) any reporting period applicable to the committee under this section during which any person provided 2 or more bundled contributions to the committee; andCommentsClose CommentsPermalink
‘(B) with respect to any other committee--CommentsClose CommentsPermalink
‘(i) the period beginning January 1 and ending June 30 of each year;CommentsClose CommentsPermalink
‘(ii) the period beginning July 1 and ending December 31 of each year; andCommentsClose CommentsPermalink
‘(iii) any reporting period applicable to the committee under this section during which any person described in paragraph (7) provided 2 or more bundled contributions to the committee in an aggregate amount greater than the applicable threshold.CommentsClose CommentsPermalink
‘(3) APPLICABLE THRESHOLD-CommentsClose CommentsPermalink
‘(A) IN GENERAL- In this subsection, the ‘applicable threshold’ is--CommentsClose CommentsPermalink
‘(i) $50,000 in the case of a committee which is an authorized committee of a candidate for the office of President or for nomination to such office; andCommentsClose CommentsPermalink
‘(ii) $15,000 in the case of any other committee.CommentsClose CommentsPermalink
In determining whether the amount of bundled contributions provided to a committee by a person exceeds the applicable threshold, there shall be excluded any contribution made to the committee by the person or the person’s spouse.CommentsClose CommentsPermalink
‘(B) INDEXING- In any calendar year after 2016, section 315(c)(1)(B) shall apply to each amount applicable under subparagraph (A) in the same manner as such section applies to the limitations established under subsections (a)(1)(A), (a)(1)(B), (a)(3), and (h) of such section, except that for purposes of applying such section to the amount applicable under subparagraph (A), the ‘base period’ shall be 2015.’.CommentsClose CommentsPermalink
(b) Conforming Amendments- Subsection (i) of section 304 of such Act (
(1) in paragraph (5), by striking ‘described in paragraph (7)’ each place it appears in subparagraphs (C) and (D);CommentsClose CommentsPermalink
(2) in paragraph (6), by inserting ‘(other than a candidate for the office of President or for nomination to such office)’ after ‘candidate’; andCommentsClose CommentsPermalink
(3) in paragraph (8)(A)--CommentsClose CommentsPermalink
(A) by striking ‘, with respect to a committee described in paragraph (6) and a person described in paragraph (7),’ and inserting ‘, with respect to a committee described in paragraph (6) or an authorized committee of a candidate for the office of President or for nomination to such office,’;CommentsClose CommentsPermalink
(B) by striking ‘by the person’ in clause (i) thereof and inserting ‘by any person’; andCommentsClose CommentsPermalink
(C) by striking ‘the person’ each place it appears in clause (ii) and inserting ‘such person’.CommentsClose CommentsPermalink
(c) Effective Date- The amendments made by this section shall apply with respect to reports filed under section 304 of the Federal Election Campaign Act of 1971 after January 1, 2013.CommentsClose CommentsPermalink
SEC. 405. JUDICIAL REVIEW OF ACTIONS RELATED TO CAMPAIGN FINANCE LAWS.
(a) In General- Title IV of the Federal Election Campaign Act of 1971 (
‘SEC. 407. JUDICIAL REVIEW.
‘(a) In General- If any action is brought for declaratory or injunctive relief to challenge the constitutionality of any provision of this Act or of chapter 95 or 96 of the Internal Revenue Code of 1986, or is brought to with respect to any action of the Commission under chapter 95 or 96 of the Internal Revenue Code of 1986, the following rules shall apply:CommentsClose CommentsPermalink
‘(1) The action shall be filed in the United States District Court for the District of Columbia and an appeal from the decision of the district court may be taken to the Court of Appeals for the District of Columbia Circuit.CommentsClose CommentsPermalink
‘(2) In the case of an action relating to declaratory or injunctive relief to challenge the constitutionality of a provision--CommentsClose CommentsPermalink
‘(A) a copy of the complaint shall be delivered promptly to the Clerk of the House of Representatives and the Secretary of the Senate; andCommentsClose CommentsPermalink
‘(B) it shall be the duty of the United States District Court for the District of Columbia, the Court of Appeals for the District of Columbia, and the Supreme Court of the United States to advance on the docket and to expedite to the greatest possible extent the disposition of the action and appeal.CommentsClose CommentsPermalink
‘(b) Intervention by Members of Congress- In any action in which the constitutionality of any provision of this Act or chapter 95 or 96 of the Internal Revenue Code of 1986 is raised, any member of the House of Representatives (including a Delegate or Resident Commissioner to the Congress) or Senate shall have the right to intervene either in support of or opposition to the position of a party to the case regarding the constitutionality of the provision. To avoid duplication of efforts and reduce the burdens placed on the parties to the action, the court in any such action may make such orders as it considers necessary, including orders to require intervenors taking similar positions to file joint papers or to be represented by a single attorney at oral argument.CommentsClose CommentsPermalink
‘(c) Challenge by Members of Congress- Any Member of Congress may bring an action, subject to the special rules described in subsection (a), for declaratory or injunctive relief to challenge the constitutionality of any provision of this Act or chapter 95 or 96 of the Internal Revenue Code of 1986.’.CommentsClose CommentsPermalink
(b) Conforming Amendments-CommentsClose CommentsPermalink
(1) IN GENERAL-CommentsClose CommentsPermalink
(A) Section 310 of the Federal Election Campaign Act of 1971 (
2 U.S.C. 437h ) is repealed.CommentsClose CommentsPermalink(B) Section 9011 of the Internal Revenue Code of 1986 is amended to read as follows:CommentsClose CommentsPermalink
‘SEC. 9011. JUDICIAL REVIEW.
‘For provisions relating to judicial review of certifications, determinations, and actions by the Commission under this chapter, see section 407 of the Federal Election Campaign Act of 1971.’.CommentsClose CommentsPermalink
(C) Section 9041 of the Internal Revenue Code of 1986 is amended to read as follows:CommentsClose CommentsPermalink
‘SEC. 9041. JUDICIAL REVIEW.
‘For provisions relating to judicial review of actions by the Commission under this chapter, see section 407 of the Federal Election Campaign Act of 1971.’.CommentsClose CommentsPermalink
(D) Section 403 of the Bipartisan Campaign Finance Reform Act of 2002 (
2 U.S.C. 437h note) is repealed.CommentsClose CommentsPermalink(c) Effective Date- The amendments made by this section shall apply to actions brought on or after January 1, 2013.CommentsClose CommentsPermalink
TITLE V--SEVERABILITY AND EFFECTIVE DATECommentsClose CommentsPermalink
TITLE V--SEVERABILITY AND EFFECTIVE DATECommentsClose CommentsPermalink
SEC. 501. SEVERABILITY.
If any provision of this Act or amendment made by this Act, or the application of a provision or amendment to any person or circumstance, is held to be unconstitutional, the remainder of this Act and amendments made by this Act, and the application of the provisions and amendment to any person or circumstance, shall not be affected by the holding.CommentsClose CommentsPermalink
SEC. 502. EFFECTIVE DATE.
Except as otherwise provided in this Act, the amendments made by this Act shall apply with respect to elections occurring after January 1, 2013.CommentsClose CommentsPermalink
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