To amend the Federal Election Campaign Act of 1971 to provide for a limitation on the time for the use of contributions or donations, and for other purposes.

To amend the Federal Election Campaign Act of 1971 to provide for a limitation on the time for the use of contributions or donations, and for other purposes. 1. Timeframe for and prioritization of disposal of contributions or donations Section 313 of the Federal Election Campaign Act of 1971 ( 52 U.S.C. 30114 (1) by redesignating subsection (c) as subsection (d); and (2) by inserting after subsection (b) the following new subsection: (c) Disposal (1) Timeframe Contributions or donations described in subsection (a) may only be used, in the case of an individual who is not a candidate with respect to an election for any Federal office for a 6-year period beginning on the day after the date of the most recent such election in which the individual was a candidate for any such office, during such 6-year period. (2) Prioritization Beginning on the date the 6-year period described in paragraph (1) ends, contributions or donations that remain available to an individual described in such paragraph shall be disposed of, not later than 30 days after such date, as follows: (A) First, to pay any debts or obligations owed in connection with the campaign for election for Federal office of the individual. (B) Second, to the extent such contribution or donations remain available after the application of subparagraph (A), to return such contributions or donations to the individuals, entities, or both, who made such contributions or donations. (C) Third, to the extent such contributions or donations remain available after the application of subparagraphs (A) and (B), to make contributions to an organization described in section 170(c) (D) Fourth, to the extent such contributions or donations remain available after the application of subparagraphs (A), (B), and (C), to make transfers to a national, State, or local committee of a political party. . 2. 1-year transition period for certain individuals (a) In general In the case of an individual described in subsection (b), any contributions or donations remaining available to the individual shall be disposed of— (1) not later than one year after the date of the enactment of this Act; and (2) in accordance with the prioritization specified in subparagraphs (A) through (D) of subsection (c)(2) of section 313 of the Federal Election Campaign Act of 1971 (52 U.S.C. 30114), as amended by section 1. (b) Individuals described An individual described in this subsection is an individual who, as of the date of the enactment of this Act— (1) is not a candidate with respect to an election for any Federal office for a period of not less than 6 years beginning on the day after the date of the most recent such election in which the individual was a candidate for any such office; and (2) would be in violation of subsection (c) of section 313 of the Federal Election Campaign Act of 1971 ( 52 U.S.C. 30114

Summary: Amends the Federal Election Campaign Act of 1971 to allow the use of contributions or donations only for the six years following the most recent federal election for a six-year office (e.g. the Senate) in which an individual was a candidate for the office if that individual is not a candidate for that office during those ensuing six years. Requires contributions or donations remaining available to to such an individual after such six-year period ends to be disposed of within 30 days, as follows: (1) to pay any debts or obligations owed in connection with the campaign for that office; (2) to return those contributions or donations to the individuals, entities, or both, who made them; (3) to make contributions to a charitable organization; and (4) to make transfers to a national, state or local committee of a political party.