I

103D CONGRESS

1ST SESSION H. R. 355

To provide for comprehensive reform of Federal election campaign financing.

IN THE HOUSE OF REPRESENTATIVES

JANUARY 5, 1993

Mr. SLATTERY introduced the following bill; which was referred jointly to the

Committees on Ways and Means and House Administration

A BILL

To provide for comprehensive reform of Federal election

campaign financing.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘Common Sense Cam5 paign Reform Act’’.

6 SEC. 2. INCOME TAX CREDIT FOR CONGRESSIONAL CAM7 PAIGN CONTRIBUTIONS.

8 (a) IN GENERAL.—Subpart A of part IV of sub9 chapter A of chapter 1 of the Internal Revenue Code of

10 1986 (relating to nonrefundable personal credits) is
2

•HR 355 IH

1 amended by inserting after section 23 the following new

2 section:

3 ‘‘SEC. 24. CONGRESSIONAL CAMPAIGN CONTRIBUTIONS.

4 ‘‘(a) GENERAL RULE.—In the case of an individual,

5 there shall be allowed, subject to the limitations in sub6 section (b), as a credit against the tax imposed by this

7 chapter for the taxable year, an amount equal to the sum

8 of—

9 ‘‘(1) 100 percent of the portion of all qualified

10 congressional campaign contributions which does not

11 exceed $25, and

12 ‘‘(2) 50 percent of the remaining portion of all

13 qualified congressional campaign contributions.

14 ‘‘(b) LIMITATIONS.—

15 ‘‘(1) MAXIMUM CREDIT.—The credit allowed by

16 subsection (a) for a taxable year shall not exceed

17 $100 ($200 in the case of a joint return).

18 ‘‘(2) VERIFICATION.—A credit shall be allowed

19 by subsection (a) with respect to any contribution

20 only if the contribution is verified in the manner

21 prescribed by the Secretary in regulations.

22 ‘‘(c) DEFINITIONS.—For purposes of this section—

23 ‘‘(1) QUALIFIED CONGRESSIONAL CAMPAIGN

24 CONTRIBUTION.—The term ‘qualified congressional
3

•HR 355 IH

1 campaign contribution’ means a contribution or gift

2 of money—

3 ‘‘(A) payment of which is made during the

4 taxable year to an individual who is a candidate

5 for nomination or election to the office of Sen6 ator or Representative in, or Delegate or Resi7 dent Commissioner to, the Congress in any pri8 mary, general, or special election, for use by the

9 individual to further the candidacy of the indi10 vidual for nomination or election to the office,

11 and

12 ‘‘(B) which is from a taxpayer (or either

13 spouse in the case of a joint return) who is a

14 resident of the State in which the election is

15 held.

16 ‘‘(2) CANDIDATE.—The term ‘candidate’ means

17 an individual who—

18 ‘‘(A) publicly announces before the close of

19 the calendar year following the calendar year in

20 which the contribution or gift is made that the

21 individual is a candidate for nomination or elec22 tion to an office referred to in paragraph

23 (1)(A), and

24 ‘‘(B) meets the qualifications prescribed by

25 law to hold the office.
4

•HR 355 IH

1 ‘‘(d) INFLATION ADJUSTMENT.—In the case of any

2 taxable year beginning in a calendar year after 1994, each

3 dollar amount contained in subsections (a) and (b) shall

4 be increased by an amount equal to—

5 ‘‘(1) such dollar amount, multiplied by

6 ‘‘(2) the cost-of-living adjustment under section

7 1(f)(3) for the calendar year in which the taxable

8 year begins, determined by substituting ‘calendar

9 year 1994’ for ‘calendar year 1989’ in subparagraph

10 (B) of such section.

11 ‘‘(e) CREDIT NOT ALLOWED TO ESTATES AND

12 TRUSTS.—No credit shall be allowed under this section

13 to any estate or trust.’’.

14 (b) CLERICAL AMENDMENT.—The table of sections

15 for such subpart A is amended by inserting after the item

16 relating to section 23 the following new item:

‘‘Sec. 24. Congressional campaign contributions.’’.

17 (c) EFFECTIVE DATE.—The amendments made by

18 this section shall apply to taxable years beginning after

19 December 31, 1993.

20 SEC. 3. REDUCTION IN THE CEILING ON MULTICANDIDATE

21 POLITICAL COMMITTEE CONTRIBUTIONS TO

22 CANDIDATES.

23 Section 315(a)(2)(A) of the Federal Election Cam24 paign Act of 1971 (2 U.S.C. 441a(a)(2)(A)) is amended
5

•HR 355 IH

1 by striking out ‘‘$5,000’’ and inserting in lieu thereof

2 ‘‘$2,500’’.

3 SEC. 4. INCREASE IN THE CEILING ON CONTRIBUTIONS TO

4 CANDIDATES BY PERSONS OTHER THAN

5 MULTICANDIDATE POLITICAL COMMITTEES.

6 Section 315(a)(1)(A) of the Federal Election Cam7 paign Act of 1971 (2 U.S.C. 441a(a)(1)(A)) is amended

8 by striking out ‘‘$1,000’’ and inserting in lieu thereof

9 ‘‘$2,000’’.

10 SEC. 5. PROHIBITION OF LEADERSHIP COMMITTEES.

11 Section 302 of the Federal Election Campaign Act

12 of 1971 (2 U.S.C. 432) is amended by adding at the end

13 the following new subsection:

14 ‘‘(j) A candidate for Federal office may not establish,

15 maintain, finance, or control a political committee other

16 than the principal campaign committee of the candidate.’’.

17 SEC. 6. PROHIBITION OF CONTRIBUTIONS BETWEEN

18 MULTICANDIDATE POLITICAL COMMITTEES.

19 Section 315 of the Federal Election Campaign Act

20 of 1971 (2 U.S.C. 441a) is amended by adding at the end

21 the following new subsection:

22 ‘‘(i) No multicandidate political committee may make

23 any contribution to another multicandidate political

24 committee.’’.
6

•HR 355 IH

1 SEC. 7. ADDITIONAL REPORTING REQUIREMENTS FOR CER2 TAIN CONTRIBUTIONS.

3 Section 304 of the Federal Election Campaign Act

4 of 1971 (2 U.S.C. 434) is amended by adding at the end

5 the following new subsection:

6 ‘‘(d) In addition to any other reporting requirement

7 under this section, each authorized committee of a can8 didate shall include in any report of contributions to such

9 committee, with respect to any contribution of more than

10 $25, the name and mailing address of the person making

11 the contribution, and, in the case of a contribution by an

12 individual, the occupation and the name of the employer

13 of the individual.’’.

14 SEC. 8. NAME REQUIREMENT FOR CERTAIN SEPARATE SEG15 REGATED FUNDS.

16 Section 316(b)(2) of the Federal Election Campaign

17 Act of 1971 (2 U.S.C. 441b(b)(2)) is amended by adding

18 at the end the following new sentence: ‘‘Any separate seg19 regated fund under subparagraph (C) that is a

20 multicandidate political committee shall include in its

21 name the name of the entity that establishes the fund.’’.

22 SEC. 9. SIGNATURE OF CANDIDATE REQUIRED ON RE23 PORTS OF AUTHORIZED COMMITTEES.

24 Section 304 of the Federal Election Campaign Act

25 of 1971 (2 U.S.C. 434), as amended by section 7, is fur-
7

•HR 355 IH

1 ther amended by adding at the end the following new sub2 section:

3 ‘‘(e) Any report required by this section with respect

4 to an authorized committee of a candidate shall be signed

5 by the candidate.’’.

Æ