I 
112TH CONGRESS 
1ST SESSION 
H. R. 414 
To amend the Internal Revenue Code of 1986 to reform the system of 
public financing for Presidential elections, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 25, 2011 
Mr. PRICE of North Carolina (for himself and Mr. VAN HOLLEN) introduced 
the following bill; which was referred to the Committee on House Admin-
istration, and in addition to the Committee on Ways and Means, for a 
period to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the com-
mittee concerned 
A BILL 
To amend the Internal Revenue Code of 1986 to reform 
the system of public financing for Presidential elections, 
and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Presidential Funding Act’’. 
(b) TABLE OF CONTENTS.—The table of contents of 
this Act is as follows: 
Sec. 1. Short title; table of contents. 
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TITLE I—PRIMARY ELECTIONS 
Sec. 101. Increase in and modifications to matching payments. 
Sec. 102. Eligibility requirements for matching payments. 
Sec. 103. Inflation adjustment for contribution limitations and matching con-
tributions. 
Sec. 104. Repeal of expenditure limitations. 
Sec. 105. Period of availability of matching payments. 
Sec. 106. Examination and audits of matchable contributions. 
Sec. 107. Modification to limitation on contributions for presidential primary 
candidates. 
TITLE II—GENERAL ELECTIONS 
Sec. 201. Modification of eligibility requirements for public financing. 
Sec. 202. Repeal of expenditure limitations and use of qualified campaign con-
tributions. 
Sec. 203. Matching payments and other modifications to payment amounts. 
Sec. 204. Inflation adjustment for payment amounts and qualified contribu-
tions. 
Sec. 205. Increase in limit on coordinated party expenditures. 
Sec. 206. Establishment of uniform date for release of payments. 
Sec. 207. Amounts in Presidential Election Campaign Fund. 
Sec. 208. Use of general election payments for general election legal and ac-
counting compliance. 
TITLE III—POLITICAL CONVENTIONS 
Sec. 301. Repeal of public financing of party conventions. 
Sec. 302. Contributions for political conventions. 
Sec. 303. Prohibition on use of soft money. 
TITLE IV—OTHER PROVISIONS 
Sec. 401. Revisions to designation of income tax payments by individual tax-
payers. 
Sec. 402. Regulations with respect to best efforts for identifying persons mak-
ing contributions. 
Sec. 403. Prohibition on joint fundraising committees. 
Sec. 404. Disclosure of bundled contributions to presidential campaigns. 
Sec. 405. Judicial review of actions related to campaign finance laws. 
TITLE V—SEVERABILITY AND EFFECTIVE DATE 
Sec. 501. Severability. 
Sec. 502. Effective date. 
TITLE I—PRIMARY ELECTIONS 
SEC. 101. INCREASE IN AND MODIFICATIONS TO MATCHING 
PAYMENTS. 
(a) INCREASE AND MODIFICATION.— 
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(1) IN GENERAL.—The first sentence of section 
9034(a) of the Internal Revenue Code of 1986 is 
amended— 
(A) by striking ‘‘an amount equal to the 
amount of each contribution’’ and inserting ‘‘an 
amount equal to 400 percent of the amount of 
each matchable contribution’’; and 
(B) by striking ‘‘authorized committees’’ 
and all that follows through ‘‘$250’’ and insert-
ing ‘‘authorized committees’’. 
(2) 
MATCHABLE
CONTRIBUTIONS.—Section 
9034 of such Code is amended— 
(A) by striking the last sentence of sub-
section (a); and 
(B) by inserting after subsection (b) the 
following new subsection: 
‘‘(c) MATCHABLE CONTRIBUTION DEFINED.—For 
purposes of this section and section 9033(b)— 
‘‘(1) MATCHABLE
CONTRIBUTION.—The term 
‘matchable contribution’ means, with respect to the 
nomination for election to the office of President of 
the United States, a contribution by an individual to 
a candidate or an authorized committee of a can-
didate— 
‘‘(A) which does not exceed $200, and 
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‘‘(B) with respect to which the candidate 
has certified in writing that— 
‘‘(i) the individual making such con-
tribution has not made aggregate contribu-
tions (including such matchable contribu-
tion) to such candidate and the authorized 
committees of such candidate in excess of 
$200 with respect to such nomination, 
‘‘(ii) such candidate and the author-
ized committees of such candidate will not 
accept contributions from such individual 
(including such matchable contribution) 
aggregating more than $200 with respect 
to such nomination, and 
‘‘(iii) such contribution was not— 
‘‘(I) forwarded from the contrib-
utor from any person other than an 
individual, or 
‘‘(II) received by the candidate or 
committee from a contributor or con-
tributors, but credited by the com-
mittee or candidate to another person 
who is not an individual through 
records, designations, or other means 
of recognizing that a certain amount 
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of money has been raised by such per-
son. 
‘‘(2) CONTRIBUTION.—For purposes of this 
subsection, the term ‘contribution’ means a gift of 
money made by a written instrument which identi-
fies the individual making the contribution by full 
name and mailing address, but does not include a 
subscription, loan, advance, or deposit of money, or 
anything of value or anything described in subpara-
graph (B), (C), or (D) of section 9032(4).’’. 
(3) CONFORMING AMENDMENTS.— 
(A) Section 9032(4) of such Code is 
amended by striking ‘‘section 9034(a)’’ and in-
serting ‘‘section 9034’’. 
(B) Section 9033(b)(3) of such Code is 
amended by striking ‘‘matching contributions’’ 
and inserting ‘‘matchable contributions’’. 
(b) MODIFICATION OF PAYMENT LIMITATION.—Sec-
tion 9034(b) of the Internal Revenue Code of 1986 is 
amended by striking ‘‘shall not exceed’’ and all that fol-
lows and inserting ‘‘shall not exceed $100,000,000.’’. 
SEC. 102. ELIGIBILITY REQUIREMENTS FOR MATCHING 
PAYMENTS. 
(a) AMOUNT OF AGGREGATE CONTRIBUTIONS PER 
STATE.—Section 9033(b)(3) of the Internal Revenue Code 
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of 1986 is amended by striking ‘‘$5,000’’ and inserting 
‘‘$25,000’’. 
(b) CONTRIBUTION LIMIT.— 
(1) IN
GENERAL.—Paragraph (4) of section 
9033(b) of such Code is amended to read as follows: 
‘‘(4) the candidate and the authorized commit-
tees of the candidate will not accept aggregate con-
tributions from any person with respect to the nomi-
nation for election to the office of President of the 
United States in excess of $1,000.’’. 
(2) CONFORMING AMENDMENTS.— 
(A) Section 9033(b) of such Code is 
amended by adding at the end the following 
new flush sentence: 
‘‘For purposes of paragraph (4), the term ‘contribution’ 
has the meaning given such term in section 301(8) of the 
Federal Election Campaign Act of 1971.’’. 
(B) Section 9032(4) of such Code, as 
amended by section 101(a)(3)(A) is amended by 
inserting ‘‘or 9033(b)’’ after ‘‘9034’’. 
(c) BAN ON CONTRIBUTIONS BY LOBBYISTS AND 
PACS.—Section 9033(b) of such Code, as amended by 
subsection (b), is amended— 
(1) by striking ‘‘and’’ at the end of paragraph 
(3); 
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