SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fair and Competitive Election Act''.

SEC. 2. HOUSE OF REPRESENTATIVES ELECTION LIMITATION ON CONTRIBUTIONS 
              FROM PERSONS OTHER THAN LOCAL INDIVIDUAL RESIDENTS.

    (a) In General.--Section 315 of the Federal Election Campaign Act 
of 1971 (2 U.S.C. 441a), is amended by adding at the end the following 
new subsection:
    ``(i)(1) A candidate for the office of Representative in, or 
Delegate or Resident Commissioner to, the Congress may not, with 
respect to a reporting period for an election, accept contributions 
from persons other than local individual residents totaling in excess 
of the total of contributions accepted from local individual residents.
    ``(2) As used in this subsection, the term `local individual 
resident' means an individual who resides in a county, any part of 
which is in the congressional district involved.
    ``(3)(A) Any candidate who accepts contributions that exceed the 
limitation under this subsection by 5 percent or less shall refund the 
excess contributions to the persons who made the contributions.
    ``(B) Any candidate who accepts contributions that exceed the 
limitation under this subsection by more than 5 percent and less than 
10 percent shall pay to the Commission, for deposit in the Treasury, an 
amount equal to three times the amount of the excess contributions.
    ``(C) Any candidate who accepts contributions that exceed the 
limitation under this subsection by 10 percent or more shall pay to the 
Commission, for deposit in the Treasury, an amount equal to three times 
the amount of the excess contributions plus a civil penalty in an 
amount determined by the Commission.''.
    (b) Effective Provision.--During any period with respect to which 
subsection (i) of section 315 of the Federal Election Campaign Act of 
1971, as added by subsection (a), is not in effect, such subsection 
shall be effective as so added, together with the following new 
paragraph:
    ``(3) For purposes of this subsection, an individual may not be 
considered a resident of more than one congressional district.''.

SEC. 3. REDUCTION IN THE LIMITATION AMOUNT APPLICABLE TO NONPARTY 
              MULTICANDIDATE POLITICAL COMMITTEE CONTRIBUTIONS TO 
              CANDIDATES.

    (a) In General.--Section 315 of the Federal Election Campaign Act 
of 1971 (2 U.S.C. 441a), as amended by section 1, is further amended by 
adding at the end the following new subsection:
    ``(j) Notwithstanding subsection (a)(2)(A), no nonparty 
multicandidate political committee may make contributions referred to 
in that subparagraph which, in the aggregate, exceed $1,000.''.
    (b) Technical Amendment.--Section 315(a)(2)(A) of the Federal 
Election Campaign Act of 1971 (2 U.S.C. 441a(a)(2)(A)) is amended by 
inserting after ``(A)'' the following: ``except as provided in 
subsection (j),''.

SEC. 4. BAN ON SOFT MONEY.

    (a) In General.--Title III of the Federal Election Campaign Act of 
1971 (2 U.S.C. 431 et seq.) is amended by adding at the end the 
following new section:

  ``limitations and reporting requirements for amounts paid for mixed 
                          political activities

    ``Sec. 323. (a) Any payment by the national committee of a 
political party or a State committee of a political party for a mixed 
political activity--
            ``(1) shall be subject to limitation and reporting under 
        this Act as if such payment were an expenditure; and
            ``(2) may be paid only from an account that is subject to 
        the requirements of this Act.
    ``(b) As used in this section, the term `mixed political activity' 
means, with respect to a payment by the national committee of a 
political party or a State committee of a political party, an activity, 
such as a voter registration program, a get-out-the-vote drive, or 
general political advertising, that is both (1) for the purpose of 
influencing an election for Federal office, and (2) for any purpose 
unrelated to influencing an election for Federal office.''.
    (b) Repeal of Building Fund Exception to the Definition of the Term 
``Contribution''.--Section 301(8)(B) of the Federal Election Campaign 
Act of 1971 (2 U.S.C. 431(8)(B)) is amended--
            (1) by striking out clause (viii); and
            (2) by redesignating clauses (ix) through (xiv) as clauses 
        (viii) through (xiii), respectively.

SEC. 5. TRANSITION RULE RELATING TO EXCESS FUNDS OF CANDIDATES FOR THE 
              HOUSE OF REPRESENTATIVES.

    A candidate for the office of Representative in, or Delegate or 
Resident Commissioner to, the Congress, who, on the date of the 
enactment of this Act, has campaign accounts containing amounts in 
excess of the contribution limit under section 315(i) of the Federal 
Election Campaign Act of 1971 shall deposit such excess in a separate 
account subject to section 304 of the Federal Election Campaign Act of 
1971. The amount so deposited shall be available for any lawful purpose 
other than use, with respect to the individual for an election for the 
office of Representative, in, or Delegate or Resident Commissioner to, 
the Congress. For purposes of this section, excess funds are those 
funds which exceed twice the amount of funds raised from local 
individual residents after December 31, 1992. From the date of the 
enactment of this Act until the end of the period covered by the 1994 
pre-primary report a candidate may transfer excess funds from the 
separate account to the campaign account so long as a majority of the 
total funds contributed or transferred to the campaign account were 
raised from local individual residents after December 31, 1992. No 
funds may be transferred from a separate account of a candidate to a 
campaign account of the candidate after the end of the period covered 
by the 1994 pre-primary report.

SEC. 6. EFFECTIVE DATE.

    The amendments made by this Act shall take effect on the date of 
the enactment of this Act.
Fair and Competitive Election Act - Amends the Federal Election Campaign Act of 1971 to limit:  (1) House of Representatives election contributions from persons other than local individual residents; (2) nonparty multicandidate political committee (PAC) candidate contributions; and (3) soft money contributions. 
Sets forth a transition rule relating to excess funds for House of Representatives candidates.
Fair and Competitive Election Act