A bill to amend the Federal Election Campaign Act of 1971 to require reporting relating to bundled contributions made by persons other than registered lobbyists.

Summary: Amends the Federal Election Campaign Act of 1971, as amended by the Honest Leadership and Open Government Act of 2007, to revise requirements for disclosure of bundled contributions, particularly by an authorized committee of a candidate for the office of President or for nomination to such office (presidential candidate committee).

Applies such reporting requirements to bundled contributions by persons other than registered lobbyists. Requires reporting of lobbyist contributions on a separate schedule.

Sets the covered period for such reports as the two-year period preceding a presidential election, as well as any applicable reporting period during which any person provided two or more bundled contributions in an aggregate amount greater than the specified applicable amount.

Increases the applicable threshold triggering such reporting requirement from $15,000 (currently applicable to any authorized committee of a candidate, a leadership PAC, or a political party committee) to $50,000 in the case of a presidential candidate committee.

Excludes from the calculation of a bundled contribution any contribution by the candidate or the candidate's spouse.

SECTION 1. REPORTING OF BUNDLED CONTRIBUTIONS BY PERSONS OTHER THAN 
              REGISTERED LOBBYISTS.

    (a) In General.--Subsection (i) of section 304 of the Federal 
Election Campaign Act of 1971 (2 U.S.C. 434(i)), as added by the Honest 
Leadership and Open Government Act of 2007, is amended--
            (1) in paragraph (1), by striking ``reasonably known by the 
        committee to be a person described in paragraph (7)'';
            (2) in paragraph (2), by striking ``means, with respect to 
        a committee'' and all that follows through ``threshold.'' and 
        inserting the following: ``means--
                    ``(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--
                            ``(i) the 2-year period preceding the date 
                        of the election for the office of the 
                        President; and
                            ``(ii) any reporting period applicable to 
                        the committee under this section during which 
                        any person provided 2 or more bundled 
                        contributions to the committee in an aggregate 
                        amount greater than the applicable threshold; 
                        and
                    ``(B) with respect to any other committee--
                            ``(i) the period beginning January 1 and 
                        ending June 30 of each year;
                            ``(ii) the period beginning July 1 and 
                        ending December 31 of each year; and
                            ``(iii) any reporting period applicable to 
                        the committee under this section during which 
                        any person provided 2 or more bundled 
                        contributions to the committee in an aggregate 
                        amount greater than the applicable 
                        threshold.'';
            (3) in paragraph (3)--
                    (A) by striking subparagraph (A) and inserting the 
                following:
                    ``(A) In general.--In this subsection, the 
                `applicable threshold' is--
                            ``(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; and
                            ``(ii) $15,000 in the case of any other 
                        committee.
                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.''; and
                    (B) in subparagraph (B), by striking ``the amount'' 
                each place it appears and inserting ``each amount'';
            (4) in paragraph (5), by striking ``described in paragraph 
        (7)'' each place it appears in subparagraphs (C) and (D);
            (5) by striking paragraph (7) and inserting the following:
            ``(7) Separate reporting for certain persons.--Each 
        committee required to include a schedule under paragraph (1) 
        shall also include a separate schedule setting forth the name, 
        address, and employer of each person listed on the schedule 
        required under paragraph (1) who, at the time a contribution is 
        forwarded to a committee as described in paragraph (8)(A)(i) or 
        is received by a committee as described in paragraph 
        (8)(A)(ii), is--
                    ``(A) a current registrant under section 4(a) of 
                the Lobbying Disclosure Act of 1995;
                    ``(B) an individual who is listed on a current 
                registration filed under section 4(b)(6) of such Act or 
                a current report under section 5(b)(2)(C) of such Act; 
                or
                    ``(C) a political committee established or 
                controlled by such a registrant or individual.
        The schedule required under the preceding sentence shall also 
        include the aggregate amount of bundled contributions provided 
        by each such person during the covered period.''; and
            (6) in paragraph (8)(A)--
                    (A) by striking ``and a person described in 
                paragraph (7)''; and
                    (B) by adding at the end the following flush 
                sentence:
                ``The term `bundled contribution' shall not include any 
                contribution forwarded by or credited to (through 
                records, designations, or other means of recognizing a 
                certain amount of money has been raised) a person who 
                is a regularly paid employee of the committee.''.
    (b) Effective Date.--The amendments made by this section shall take 
effect as if included in section 204 of the Honest Leadership and Open 
Government Act of 2007.