SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fair Elections and Political 
Accountability Act''.

SEC. 2. REMOVAL OF LIMITATIONS ON FEDERAL ELECTION CAMPAIGN 
              CONTRIBUTIONS.

    Section 315(a) of the Federal Election Campaign Act of 1971 (2 
U.S.C. 441a(a)) is amended by adding at the end the following new 
paragraph:
    ``(9) The limitations established under this subsection shall not 
apply to contributions made during calendar years beginning after 
1998.''.

SEC. 3. PROMOTING EXPEDITED AVAILABILITY OF FEC REPORTS; LOWERING 
              THRESHOLD FOR COLLECTION AND DISCLOSURE OF IDENTIFICATION 
              OF CONTRIBUTORS.

    (a) Mandatory Electronic Filing.--Section 304(a)(11)(A) of the 
Federal Election Campaign Act of 1971 (2 U.S.C. 434(a)(11)(A)) is 
amended by striking ``permit reports required by'' and inserting 
``require reports under''.
    (b) Requiring Reports for Certain Contributions Made to Any 
Political Committee Within 60 Days of Election; Requiring Reports To Be 
Made Within 48 Hours.--Section 304(a)(6) of such Act (2 U.S.C. 
434(a)(6)) is amended to read as follows:
    ``(6)(A) Each political committee shall notify the Secretary or the 
Commission, and the Secretary of State, as appropriate, in writing, of 
any contribution in an aggregate amount equal to or greater than $100 
which is received by the committee during the period which begins on 
the 60th day before an election and ends at the time the polls close 
for such election. This notification shall be made not later than 
midnight of the day on which the contribution is deposited (but in no 
event later than 48 hours after receipt) and shall include the name of 
the candidate involved (as appropriate) and the office sought by the 
candidate, the identification of the contributor, and the date of 
receipt and amount of the contribution.
    ``(B) If a political committee returns a contribution for which 
notification is made under subparagraph (A), the committee shall notify 
the Secretary or the Commission, and the Secretary of State (as 
appropriate).
    ``(C) The notifications required under this paragraph shall be in 
addition to all other reporting requirements under this Act.''.
    (c) Increasing Electronic Disclosure.--Section 304 of such Act (2 
U.S.C. 434(a)) is amended by adding at the end the following new 
subsection:
    ``(d)(1) The Commission shall make the information contained in the 
reports submitted under this section available on the Internet and 
publicly available at the offices of the Commission as soon as 
practicable (but in no case later than 24 hours) after the information 
is received by the Commission.
    ``(2) In this subsection, the term `Internet' means the 
international computer network of both Federal and non-Federal 
interoperable packet-switched data networks.''.
    (d) Lowering Threshold for Collection and Disclosure of 
Identification of Contributors.--
            (1) Reporting requirements.--Section 304(b)(3) of such Act 
        (2 U.S.C. 434(b)(3)) is amended--
                    (A) in subparagraph (A), by striking ``whose 
                contribution or contributions have an aggregate amount 
                or value in excess of $200 within the calendar year, or 
                in any lesser amount if the reporting committee should 
                so elect,''; and
                    (B) in subparagraphs (F) and (G), by striking ``in 
                an aggregate amount or value in excess of $200'' each 
                place it appears.
            (2) Information required to be forwarded to political 
        committees.--Section 302(b) of such Act (2 U.S.C. 432(b)) is 
        amended--
                    (A) in paragraph (1), by striking ``and if the 
                amount of the contribution is in excess of $50'' and 
                inserting ``together with''; and
                    (B) in paragraph (2), by striking ``shall--'' and 
                all that follows and inserting the following: ``shall 
                forward to the treasurer such contribution, the name 
                and address of the person making the contribution, and 
                the date of receipt of the contribution, no later than 
                10 days after receiving the contribution.''.
            (3) Information required to be kept by political 
        committees.--Section 302(c) of such Act (2 U.S.C. 432(c)) is 
        amended--
                    (A) by striking paragraph (2); and
                    (B) in paragraph (3), by striking ``or 
                contributions aggregating more than $200''.
    (e) Effective Date.--The amendment made by this section shall apply 
with respect to reports for periods beginning on or after January 1, 
1999.

SEC. 4. PROHIBITING CONTRIBUTIONS BY FOREIGN NATIONALS AND INDIVIDUALS 
              NOT QUALIFIED TO REGISTER TO VOTE IN FEDERAL ELECTIONS.

    (a) In General.--Section 319 of the Federal Election Campaign Act 
of 1971 (2 U.S.C. 441e) is amended to read as follows:

 ``contributions by foreign nationals and individuals not qualified to 
                 register to vote in federal elections

    ``Sec. 319. (a) Foreign Nationals.--
            ``(1) In general.--It shall be unlawful for a foreign 
        national directly or through any other person to make any 
        contribution of money or other thing of value, or to promise 
        expressly or impliedly to make any such contribution, in 
        connection with an election to any political office or in 
        connection with any primary election, convention, or caucus 
        held to select candidates for any political office; or for any 
        person to solicit, accept, or receive any such contribution 
        from a foreign national.
            ``(2) Definition.--As used in this subsection, the term 
        `foreign national' means a foreign principal, as defined by 
        section 1(b) of the Foreign Agents Registration Act of 1938 (22 
        U.S.C. 611(b)).
    ``(b) Individuals Not Qualified to Register to Vote in Federal 
Elections.--
            ``(1) Prohibiting contributions.--It shall be unlawful for 
        any individual who is not qualified to register to vote in an 
        election for Federal office directly or through any other 
        person to make any contribution of money or other thing of 
        value, or to promise expressly or impliedly to make any such 
        contribution, in connection with an election to any political 
        office or in connection with any primary election, convention, 
        or caucus held to select candidates for any political office.
            ``(2) Prohibiting solicitation or acceptance of 
        contributions.--It shall be unlawful for any person to 
        knowingly solicit, accept, or receive any contribution of money 
        or other thing of value from an individual who is not qualified 
        to register to vote in an election for Federal office.''.
    (b) Effective Date.--The amendments made by this section shall 
apply with respect to elections occurring after January 1999.

SEC. 5. FUNDING OF POLITICAL ACTIVITIES BY CORPORATIONS AND LABOR 
              ORGANIZATIONS.

    (a) Prohibiting Donation of Funds to Political Parties.--
            (1) In general.--Section 316 of the Federal Election 
        Campaign Act of 1971 (2 U.S.C. 441b) is amended by adding at 
        the end the following new subsection:
    ``(c)(1) No national bank, corporation, or labor organization 
described in this section may make any payment of any gift, 
subscription, loan, advance, or deposit of money or anything of value 
to any political committee established and maintained by a political 
party (including a congressional campaign committee of a political 
party) in support of the committee's activities.
    ``(2) Paragraph (1) shall not apply to a contribution or 
expenditure made by a separate segregated fund of a corporation or 
labor organization described in subsection (b)(2)(C).''.
            (2) Effective date.--The amendment made by paragraph (1) 
        shall apply with respect to elections occurring after January 
        1999.
    (b) Prohibiting Involuntary Assessment of Employee Funds for 
Political Activities.--
            (1) In general.--Section 316 of such Act (2 U.S.C. 441b), 
        as amended by subsection (a), is further amended by adding at 
        the end the following new subsection:
    ``(d)(1) Except with the separate, prior, written, voluntary 
authorization of the individual involved, it shall be unlawful--
            ``(A) for any national bank or corporation described in 
        this section to collect from or assess its stockholders any 
        dues, initiation fee, or other payment, or collect from or 
        assess its employees any dues, initiation fee, or other payment 
        as a condition of employment, if any part of such dues, fee, or 
        payment will be used for Federal campaign activity in which the 
        national bank or corporation is engaged; and
            ``(B) for any labor organization described in this section 
        to collect from or assess its members or nonmembers any dues, 
        initiation fee, or other payment if any part of such dues, fee, 
        or payment will be used for Federal campaign activity in which 
        the labor organization is engaged.
    ``(2) An authorization described in paragraph (1) shall remain in 
effect until revoked and may be revoked at any time. Each entity 
collecting from or assessing amounts from an individual with an 
authorization in effect under such paragraph shall provide the 
individual with a statement that the individual may at any time revoke 
the authorization.
    ``(3) For purposes of this subsection, the term `Federal campaign 
activity' means any activity carried out for the purpose of influencing 
(in whole or in part) any election for Federal office or educating 
individuals about candidates for election for Federal office, except 
that such term does not include the making of any communication 
provided by a corporation to its employees and their families or by a 
labor organization to its members and their families on any subject.''.
            (2) Effective date.--The amendment made by paragraph (1) 
        shall apply to amounts collected or assessed on or after the 
        date of the enactment of this Act.

SEC. 6. PROHIBITING CONTRIBUTIONS DURING SIX MONTHS FOLLOWING GENERAL 
              ELECTION.

    (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:

    ``prohibiting contributions during six months following general 
                                election

    ``Sec. 323. (a) In General.--No person may make any contribution 
with respect to an election for Federal office to any political 
committee of a candidate for election for such office during the 180-
day period which begins on the date of the previous regularly scheduled 
general election for such office, unless the election is a runoff or 
special election.
    ``(b) Exception for Contributions in Connection With Expenses of 
Previous Election.--Subsection (a) shall not apply with respect to a 
contribution made solely in connection with the expenses of an election 
held prior to the date on which the contribution is made.''.
    (b) Effective Date.--The amendments made by this section shall 
apply with respect to elections occurring after January 1999.

SEC. 7. INCREASE IN AUTHORIZATION OF APPROPRIATIONS FOR FEDERAL 
              ELECTION COMMISSION.

    Section 314 of the Federal Election Campaign Act of 1971 (2 U.S.C. 
439c) is amended by adding at the end the following new sentence: 
``There are authorized to be appropriated to the Commission $60,000,000 
for each of the fiscal years 1999, 2000, and 2001, of which not less 
than $28,350,000 shall be used during each such fiscal year for 
enforcement activities.''.

SEC. 8. ENHANCING ENFORCEMENT OF CAMPAIGN FINANCE LAW.

    (a) Mandatory Imprisonment for Criminal Conduct.--Section 
309(d)(1)(A) of the Federal Election Campaign Act of 1971 (2 U.S.C. 
437g(d)(1)(A)) is amended--
            (1) in the first sentence, by striking ``shall be fined, or 
        imprisoned for not more than one year, or both'' and inserting 
        ``shall be imprisoned for not fewer than 1 year and not more 
        than 10 years''; and
            (2) by striking the second sentence.
    (b) Concurrent Authority of Attorney General to Bring Criminal 
Actions.--Section 309(d) of such Act (2 U.S.C. 437g(d)) is amended by 
adding at the end the following new paragraph:
    ``(4) In addition to the authority to bring cases referred pursuant 
to subsection (a)(5), the Attorney General may at any time bring a 
criminal action for a violation of this Act or of chapter 95 or chapter 
96 of the Internal Revenue Code of 1986.''.
    (c) Effective Date.--The amendments made by this section shall 
apply with respect to actions brought with respect to elections 
occurring after January 1999.
Fair Elections and Political Accountability Act - Amends the Federal Election Campaign Act of 1971 (FECA) to eliminate current limitations on Federal election campaign contributions after 1998. 
Requires (current law permits) electronic filing of FECA reports. Repeals reporting requirements for certain contributions received by authorized committees and replaces them with reporting requirements for certain contributions received by political committees.  Directs the Federal Election Commission to make information contained in FECA reports submitted available on the Internet and publicly available at the Commission's offices within 24 hours after the information is received by the Commission.  Eliminates thresholds for the disclosure of the identification of certain contributors.  Repeals the requirement that political committees record the identification of any person who makes any contribution in excess of $50. 
Bans contributions from individuals not qualified to register to vote in Federal elections. 
Prohibits the funding of the political activities of national banks, corporations, and labor organizations, with the exception of contributions and expenditures made by separate segregated funds of corporations and labor organizations.  Prohibits the involuntary assessment of:  (1) stockholder and employee funds by national banks and corporations to be used for Federal campaign activities; and (2) member and nonmember funds by labor organizations to be used for Federal campaign activities. 
Prohibits contributions from being made to the political committees of candidates six months following a general election unless the election is a runoff or special election, with the exception of contributions made solely in connection with the expenses of the previous election. 
Authorizes appropriations for the Commission. 
Revises enforcement provisions to mandate and increase the period of time of imprisonment of any person who commits a violation of FECA involving any contribution or expenditure aggregating $2,000 or more. Permits the Attorney General, with respect to violations of the Act, the Presidential Election Campaign Fund Act, or the Presidential Primary Matching Payment Account Act, to bring a criminal action in addition to requiring payment of specified civil penalties.
Fair Elections and Political Accountability Act