SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Citizen Legislature and Political 
Freedom 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. TERMINATION OF TAXPAYER FINANCING OF PRESIDENTIAL ELECTION 
              CAMPAIGNS.

    (a) Termination of Designation of Income Tax Payments.--Section 
6096 of the Internal Revenue Code of 1986 is amended by adding at the 
end the following new subsection:
    ``(d) Termination.--This section shall not apply to taxable years 
beginning after December 31, 1997.''
    (b) Termination of Fund and Account.--
            (1) Termination of presidential election campaign fund.--
                    (A) In general.--Chapter 95 of subtitle H of such 
                Code is amended by adding at the end the following new 
                section:

``SEC. 9014. TERMINATION.

    The provisions of this chapter shall not apply with respect to any 
presidential election (or any presidential nominating convention) after 
December 31, 1998, or to any candidate in such an election.''
                    (B) Transfer of excess funds to general fund.--
                Section 9006 of such Code is amended by adding at the 
                end the following new subsection:
    ``(d) Transfer of Funds Remaining After 1998.--The Secretary shall 
transfer all amounts in the fund after December 31, 1998, to the 
general fund of the Treasury.''
            (2) Termination of account.--Chapter 96 of subtitle H of 
        such Code is amended by adding at the end the following new 
        section:

``SEC. 9043. TERMINATION.

    The provisions of this chapter shall not apply to any candidate 
with respect to any presidential election after December 31, 1998.''
    (c) Clerical Amendments.--
            (1) The table of sections for chapter 95 of subtitle H of 
        such Code is amended by adding at the end the following new 
        item:

                              ``Sec. 9014. Termination.''
            (2) The table of sections for chapter 96 of subtitle H of 
        such Code is amended by adding at the end the following new 
        item:

                              ``Sec. 9043. Termination.''

SEC. 4. DISCLOSURE REQUIREMENTS FOR CERTAIN SOFT MONEY EXPENDITURES OF 
              POLITICAL PARTIES.

    (a) Transfers of Funds by National Political Parties.--Section 
304(b)(4) of the Federal Election Campaign Act of 1971 (2 U.S.C. 
434(b)(4)) is amended--
            (1) by striking ``and'' at the end of subparagraph (H);
            (2) by adding ``and'' at the end of subparagraph (I); and
            (3) by adding at the end the following new subparagraph:
                    ``(J) in the case of a political committee of a 
                national political party, all funds transferred to any 
                political committee of a State or local political 
                party, without regard to whether or not the funds are 
                otherwise treated as contributions or expenditures 
                under this title;''.
    (b) Disclosure by State and Local Political Parties of Information 
Reported Under State Law.--Section 304 of such Act (2 U.S.C. 434) is 
amended by adding at the end the following new subsection:
    ``(d) If a political committee of a State or local political party 
is required under a State or local law, rule, or regulation to submit a 
report on its disbursements to an entity of the State or local 
government, the committee shall file a copy of the report with the 
Commission at the time it submits the report to such an entity.''.
    (c) Effective Date.--The amendments made by this section shall 
apply with respect to elections occurring after January 1999.

SEC. 5. PROMOTING EXPEDITED AVAILABILITY OF FEC REPORTS.

    (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 All Contributions Made to Any Political 
Committee Within 90 Days of Election; Requiring Reports To Be Made 
Within 24 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 received by the committee during the period which 
begins on the 90th day before an election and ends at the time the 
polls close for such election. This notification shall be made within 
24 hours (or, if earlier, by midnight of the day on which the 
contribution is deposited) after the receipt of such contribution and 
shall include the name of the candidate involved (as appropriate) and 
the office sought by the candidate, the indentification of the 
contributor, and the date of receipt and amount of the contribution.
    ``(B) The notification 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)), as amended by section 4(b), is further amended by 
adding at the end the following new subsection:
    ``(e)(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) Effective Date.--The amendment made by this section shall apply 
with respect to reports for periods beginning on or after January 1, 
1999.

SEC. 6. WAIVER OF ``BEST EFFORTS'' EXCEPTION FOR INFORMATION ON 
              IDENTIFICATION OF CONTRIBUTORS.

    (a) In General.--Section 302(i) of the Federal Election Campaign 
Act of 1971 (2 U.S.C. 432(i)) is amended--
            (1) by striking ``(i) When the treasurer'' and inserting 
        ``(i)(1) Except as provided in paragraph (2), when the 
        treasurer''; and
            (2) by adding at the end the following new paragraph:
    ``(2) Paragraph (1) shall not apply with respect to information 
regarding the identification of any person who makes a contribution or 
contributions aggregating more than $200 during a calendar year (as 
required to be provided under subsection (c)(3)).''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply with respect to persons making contributions for elections 
occurring after January 1999.
Citizen Legislature and Political Freedom Act - Amends the Federal Election Campaign Act of 1971 (FECA) to remove the limitations on Federal election campaign contributions after 1998. 
(Sec. 3) Amends the Internal Revenue Code to terminate:  (1) the designation of income tax payments to the Presidential Election Campaign Fund after December 31, 1997; (2) the Presidential Election Campaign Fund after December 31, 1998; and (3) the Presidential Primary Matching Payment Account after December 31, 1998. 
(Sec. 4) Amends FECA to require the following regarding soft money expenditures of political parties:  (1) the disclosure of all funds (soft money) transferred by a political committee of a national political party to any political committee of a State or local political party, without regard to whether or not the funds are otherwise treated as contributions or expenditures; and (2) a political committee of a State or local political party required under State or local law, rule, or regulation to submit a report on its disbursements to an entity of the State or local government, to file a copy of the report with the Federal Election Commission (Commission) at the time it submits the report to such an entity. 
(Sec. 5) Revises reporting requirements to provide for mandatory electronic filing of FECA reports. 
Repeals requirements regarding the candidate's principal campaign committee notifying the Clerk of the House, the Secretary or Commission, and the Secretary of the Senate, as appropriate, in writing, of any contribution of $1,000 or more received by any authorized committee of the candidate.  Replaces them with requirements providing for each political committee to notify the Secretary or the Commission, and the Secretary of the Senate, as appropriate, in writing, of any contribution received by the committee within 90 days of an election, within 24 hours (or, if earlier, by midnight of the day on which the contribution is deposited) after the receipt of such contribution and include the involved candidate's name (as appropriate) and the office sought by the candidate, the identification of the contributor, and the date of receipt and the contribution amount, in addition to all other reporting requirements. 
Directs the Commission to make the information contained in the reports submitted available on the Internet and publicly available at Commission offices as soon as practicable (but in no case later than 24 hours) after the information is received by the Commission. 
(Sec. 6) Waives the "best efforts" exception with respect to information regarding the identification of any person who makes a contribution or contributions aggregating more than $200 during a calendar year (as currently required to be provided).
Citizen Legislature and Political Freedom Act