(2) by striking the period at the end of para-
graph (4) and inserting ‘‘, and’’; and 
(3) by adding at the end the following new 
paragraph: 
‘‘(5) the candidate and the authorized com-
mittee of the candidate will not accept— 
‘‘(A) any contribution from— 
‘‘(i) an individual who is a current 
registrant under section 4(a)(1) of the 
Lobbying Disclosure Act of 1995, or 
‘‘(ii) an individual who is listed on a 
current registration filed under section 
4(b)(6) of such Act or a current report 
under section 5(b)(2)(C) of such Act, 
‘‘(B) any bundled contribution (as defined 
in section 304(i)(8)) forwarded by or credited 
to a person described in section 304(i)(7), and 
‘‘(C) any contribution from a political com-
mittee other than a political committee of a po-
litical party.’’. 
(d) PARTICIPATION IN SYSTEM FOR PAYMENTS FOR 
GENERAL ELECTION.—Section 9033(b) of such Code, as 
amended by subsection (c), is amended— 
(1) by striking ‘‘and’’ at the end of paragraph 
(4); 
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(2) by striking the period at the end of para-
graph (5) and inserting ‘‘, and’’; and 
(3) by adding at the end the following new 
paragraph: 
‘‘(6) if the candidate is nominated by a political 
party for election to the office of President, the can-
didate will apply for and accept payments with re-
spect to the general election for such office in ac-
cordance with chapter 95.’’. 
SEC. 103. INFLATION ADJUSTMENT FOR CONTRIBUTION 
LIMITATIONS 
AND 
MATCHING 
CONTRIBU-
TIONS. 
Section 9033 of such Code is amended by adding at 
the end the following new subsection: 
‘‘(d) INFLATION ADJUSTMENTS.— 
‘‘(1) IN GENERAL.—In the case of any applica-
ble period beginning after 2012, each of the dollar 
amounts in subsection (b)(4) and section 9034(b) 
shall be increased by an amount equal to— 
‘‘(A) such dollar amount, multiplied by 
‘‘(B) the cost-of-living adjustment deter-
mined under section 1(f)(3) for the calendar 
year following the year which such applicable 
period begins, determined by substituting ‘cal-
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endar year 2012’ for ‘calendar year 1992’ in 
subparagraph (B) thereof. 
‘‘(2) APPLICABLE
PERIOD.—For purposes of 
this subsection, the term ‘applicable period’ means 
the 4-year period beginning with the first day fol-
lowing the date of the last general election for the 
office of President and ending on the date of the 
next such general election. 
‘‘(3) ROUNDING.—If any amount as adjusted 
under paragraph (1) is not a multiple of $100, such 
amount shall be rounded to the nearest multiple of 
$100.’’. 
SEC. 104. REPEAL OF EXPENDITURE LIMITATIONS. 
(a) IN GENERAL.—Subsection (a) of section 9035 of 
the Internal Revenue Code of 1986 is amended to read 
as follows: 
‘‘(a) PERSONAL EXPENDITURE LIMITATION.—No 
candidate shall knowingly make expenditures from his per-
sonal funds, or the personal funds of his immediate family, 
in connection with his campaign for nomination for elec-
tion to the office of President in excess of, in the aggre-
gate, $50,000.’’. 
(b) CONFORMING AMENDMENT.—Paragraph (1) of 
section 9033(b) of the Internal Revenue Code of 1986 is 
amended to read as follows: 
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‘‘(1) the candidate will comply with the per-
sonal expenditure limitation under section 9035,’’. 
SEC. 105. PERIOD OF AVAILABILITY OF MATCHING PAY-
MENTS. 
Section 9032(6) of such Code is amended by striking 
‘‘the beginning of the calendar year in which a general 
election for the office of President of the United States 
will be held’’ and inserting ‘‘the date that is 6 months 
prior to the date of the earliest State primary election’’. 
SEC. 106. EXAMINATION AND AUDITS OF MATCHABLE CON-
TRIBUTIONS. 
Section 9038(a) of the Internal Revenue Code of 
1986 is amended by inserting ‘‘and matchable contribu-
tions accepted by’’ after ‘‘qualified campaign expenses of’’. 
SEC. 107. MODIFICATION TO LIMITATION ON CONTRIBU-
TIONS FOR PRESIDENTIAL PRIMARY CAN-
DIDATES. 
Section 315(a)(6) of the Federal Election Campaign 
Act of 1971 (2 U.S.C. 441a(a)(6)) is amended by striking 
‘‘calendar year’’ and inserting ‘‘four-year election cycle’’. 
TITLE II—GENERAL ELECTIONS 
SEC. 201. MODIFICATION OF ELIGIBILITY REQUIREMENTS 
FOR PUBLIC FINANCING. 
Section 9003(a) of the Internal Revenue Code of 
1986 is amended to read as follows: 
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‘‘(a) IN GENERAL.—In order to be eligible to receive 
any payments under section 9006, the candidates of a po-
litical party in a presidential election shall meet the fol-
lowing requirements: 
‘‘(1) PARTICIPATION
IN
PRIMARY
PAYMENT 
SYSTEM.—The candidate for President received pay-
ments under chapter 96 for the campaign for nomi-
nation for election to be President. 
‘‘(2) AGREEMENTS
WITH
COMMISSION.—The 
candidates, in writing— 
‘‘(A) agree to obtain and furnish to the 
Commission such evidence as it may request of 
the qualified campaign expenses of such can-
didates, 
‘‘(B) agree to keep and furnish to the 
Commission such records, books, and other in-
formation as it may request, and 
‘‘(C) agree to an audit and examination by 
the Commission under section 9007 and to pay 
any amounts required to be paid under such 
section. 
‘‘(3) BAN
ON
CERTAIN
CONTRIBUTIONS
AND 
SOLICITATIONS.—The candidates certify to the Com-
mission, under penalty of perjury, the following: 
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‘‘(A) LOBBYISTS
AND
PACS.—Such can-
didates and the authorized committees of such 
candidates will not accept— 
‘‘(i) any contribution from— 
‘‘(I) an individual who is a cur-
rent registrant under section 4(a)(1) 
of the Lobbying Disclosure Act of 
1995, or 
‘‘(II) an individual who is listed 
on a current registration filed under 
section 4(b)(6) of such Act or a cur-
rent report under section 5(b)(2)(C) 
of such Act, 
‘‘(ii) any bundled contribution (as de-
fined in section 304(i)(8)) forwarded by or 
credited to a person described in section 
304(i)(7), and 
‘‘(iii) any contribution from a political 
committee other than a political committee 
of a political party. 
‘‘(B) SOLICITATIONS
FOR
JOINT
FUND-
RAISING
COMMITTEES.—Such candidates and 
their authorized committees will not, after June 
1 of the election year, solicit any funds for any 
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joint fundraising committee that includes any 
committee of a political party. 
‘‘(C) SOLICITATION FOR POLITICAL PAR-
TIES.—Such candidates and their authorized 
committees will not, after the date described in 
section 9006(b), solicit any funds for any com-
mittee of a political party. 
Such certification shall be made within such time 
prior to the day of the presidential election as the 
Commission shall prescribe by rules or regulations.’’. 
SEC. 202. REPEAL OF EXPENDITURE LIMITATIONS AND USE 
OF QUALIFIED CAMPAIGN CONTRIBUTIONS. 
(a) MAJOR PARTIES.—Subsection (b) of section 9003 
of the Internal Revenue Code of 1986 is amended to read 
as follows: 
‘‘(b) MAJOR PARTIES.—In order to be eligible to re-
ceive any payments under section 9006, the candidates of 
a major party in a presidential election shall certify to the 
Commission, under penalty of perjury, that— 
‘‘(1) such candidates and their authorized com-
mittees have not and will not accept any contribu-
tions to defray qualified campaign expenses other 
than— 
‘‘(A) qualified campaign contributions, and 
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‘‘(B) contributions to the extent necessary 
to make up any deficiency payments received 
out of the fund on account of the application of 
section 9006(c), and 
‘‘(2) such candidates and their authorized com-
mittees have not and will not accept any contribu-
tion to defray expenses which would be qualified 
campaign expenses but for subparagraph (C) of sec-
tion 9002(11). 
Such certification shall be made at the same time as the 
certification required under subsection (a)(3).’’. 
(b) MINOR AND NEW PARTIES.—Subsection (c) of 
section 9003 of the Internal Revenue Code of 1986 is 
amended to read as follows: 
‘‘(c) MINOR AND NEW PARTIES.—In order to be eli-
gible to receive any payments under section 9006, the can-
didates of a minor or new party in a presidential election 
shall certify to the Commission, under penalty of perjury, 
that such candidates and their authorized committees have 
not and will not accept any contributions to defray quali-
fied campaign expenses other than— 
‘‘(1) qualified campaign contributions, and 
‘‘(2) contributions other than qualified cam-
paign contributions to the extent to which— 
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‘‘(A) the aggregate payments to which 
such candidates would be entitled under section 
9004 if such candidates were candidates of a 
major party, exceed 
‘‘(B) the aggregate payments to which 
such candidates are entitled to under section 
9004. 
Such certification shall be made at the same time as the 
certification required under subsection (a)(3).’’. 
(c) DEFINITION
OF QUALIFIED CAMPAIGN CON-
TRIBUTIONS.—Section 9002 of the Internal Revenue Code 
of 1986 is amended by adding at the end the following 
new paragraph: 
‘‘(13) QUALIFIED CAMPAIGN CONTRIBUTION.— 
The term ‘qualified campaign contribution’ means, 
with respect to any election for the office of Presi-
dent of the United States, a contribution from an in-
dividual to a candidate or an authorized committee 
of a candidate which— 
‘‘(A) is made after June 1 of the year in 
which the election is held, 
‘‘(B) does not exceed $500, and 
‘‘(C) with respect to which the candidate 
has certified in writing that— 
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‘‘(i) the individual making such con-
tribution has not made aggregate contribu-
tions (including such qualified contribu-
tion) to such candidate and the authorized 
committees of such candidate in excess of 
$500 with respect to such election, and 
‘‘(ii) such candidate and the author-
ized committees of such candidate will not 
accept contributions from such individual 
(including such qualified contribution) ag-
gregating more than $500 with respect to 
such election.’’. 
(d) CONFORMING AMENDMENTS.— 
(1) REPEAL OF EXPENDITURE LIMITS.— 
(A) Section 315 of the Federal Election 
Campaign Act of 1971 (2 U.S.C. 441a) is 
amended by striking subsection (b). 
(B) Section 315(c) of such Act (2 U.S.C. 
441a(c)) is amended— 
(i) in paragraph (1)(B)(i), by striking 
‘‘, (b)’’; and 
(ii) in paragraph (2)(B)(i), by striking 
‘‘subsections (b) and (d)’’ and inserting 
‘‘subsection (d)’’. 
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(2) LIMITATION ON PAYMENTS TO CANDIDATES 
OF MINOR AND NEW PARTIES.—Paragraph (1) of 
section 9004(b) of the Internal Revenue Code of 
1986 is amended by inserting ‘‘, other than qualified 
contributions,’’ after ‘‘contributions’’. 
(3) REPAYMENTS.— 
(A) Section 9007(b) of such Code is 
amended by striking paragraph (2) and redesig-
nating paragraphs (3), (4), and (5) as para-
graphs (2), (3), and (4), respectively. 
(B) Paragraph (2) of section 9007(b) of 
such Code, as redesignated by subparagraph 
(A), is amended by inserting ‘‘qualified con-
tributions and’’ after ‘‘contributions (other 
than’’. 
(4) CRIMINAL PENALTIES.— 
(A) EXCESS EXPENSES.—Section 9012(a) 
of the Internal Revenue Code of 1986 is 
amended by striking the first sentence. 
(B) CONTRIBUTIONS.— 
(i) CANDIDATES
OF
MAJOR
PAR-
TIES.—Section 9012(b)(1) of the Internal 
Revenue Code of 1986 is amended by in-
serting ‘‘other than qualified contribu-
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tions,’’ after ‘‘to defray qualified campaign 
expenses,’’. 
(ii) CANDIDATES
OF
OTHER
PAR-
TIES.—Section 9012(b)(2) of such Code is 
amended by inserting ‘‘, other than quali-
fied contributions,’’ after ‘‘contributions’’. 
SEC. 203. MATCHING PAYMENTS AND OTHER MODIFICA-
TIONS TO PAYMENT AMOUNTS. 
(a) IN GENERAL.— 
(1) AMOUNT OF PAYMENTS FOR MAJOR PARTY 
CANDIDATES.—Subsection (a) of section 9004 of the 
Internal Revenue Code of 1986 is amended to read 
as follows: 
‘‘(a) IN GENERAL.—Subject to the provisions of this 
chapter— 
‘‘(1) MAJOR PARTIES.—The eligible candidates 
of each major party in a presidential election shall 
be entitled to equal payment under section 9006 in 
an amount equal to— 
‘‘(A) $50,000,000, plus 
‘‘(B) an amount equal to 400 percent of 
the amount of each matchable contribution re-
ceived by such candidate on or after June 1 of 
the year of the presidential election, or by his 
authorized committees. 
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The total amount of payments to which a major 
party candidate is entitled under subparagraph (B) 
shall not exceed $150,000,000. 
‘‘(2) PRE-ELECTION
PAYMENTS
FOR
MINOR 
AND NEW PARTIES.— 
‘‘(A) PAYMENT BASED ON PRIOR VOTES 
RECEIVED BY PARTY.— 
‘‘(i) IN GENERAL.—The eligible can-
didates of a minor party in a presidential 
election shall be entitled to equal payment 
under section 9006 in an amount equal to 
the sum of— 
‘‘(I) the product of the popular 
vote ratio with respect to such minor 
party and the amount in effect under 
paragraph (1)(A), plus 
‘‘(II) an amount equal to the ap-
plicable percentage of the amount of 
each matchable contribution received 
by such candidate on or after June 1 
of the year of the presidential election, 
or by his authorized committees. 
The total amount of payments to which 
such a candidate is entitled under sub-
clause (II) shall not exceed the product of 
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the amount in effect under the last sen-
tence of paragraph (1)(A) and the popular 
vote ratio with respect to such minor 
party. 
‘‘(ii) POPULAR VOTE RATIO WITH RE-
SPECT TO A MINOR PARTY.—For purposes 
of this subparagraph, the popular vote 
ratio with respect to a minor party is the 
ratio of the number of popular votes re-
ceived by the candidate for President of 
the minor party, as such candidate, in the 
preceding presidential election to the aver-
age number of popular votes received by 
the candidates for President of the major 
parties in the preceding presidential elec-
tion. 
‘‘(iii) APPLICABLE
PERCENTAGE.— 
For purposes of subparagraph (A), the ap-
plicable percentage is the product of 400 
percent and the popular vote ratio with re-
spect to such minor party. 
‘‘(B) PAYMENT BASED ON PRIOR VOTES 
RECEIVED BY CANDIDATE.— 
‘‘(i) IN GENERAL.—If the candidate of 
one or more political parties (not including 
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a major party) for the office of President 
was a candidate for such office in the pre-
ceding presidential election and received 5 
percent or more but less than 25 percent 
of the total number of popular votes re-
ceived by all candidates for such office, 
such candidate and his running mate for 
the office of Vice President, upon compli-
ance with the provisions of section 9003(a) 
and (c), shall be treated as eligible can-
didates entitled to payments under section 
9006 in an amount computed as provided 
in subparagraph (A), determined by sub-
stituting ‘the popular vote ratio with re-
spect to such candidate’ for ‘the popular 
vote ratio with respect to such minor 
party’ each place it appears. 
‘‘(ii) POPULAR VOTE RATIO WITH RE-
SPECT TO A CANDIDATE.—For purposes of 
this subparagraph, the popular vote ratio 
with respect to a candidate is the ratio of 
the number of popular votes received by 
such candidate for the office of President 
in the preceding presidential election to the 
average number of popular votes received 
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by the candidates for President of the 
major parties in the preceding presidential 
election. 
‘‘(iii) COORDINATION RULE.—If eligi-
ble candidates of a minor party are enti-
tled to payments under this subparagraph, 
such entitlement shall be reduced by the 
amount of the entitlement allowed under 
subparagraph (A). 
‘‘(3) POST-ELECTION
PAYMENTS
FOR
MINOR 
AND NEW PARTIES.— 
‘‘(A) IN
GENERAL.—The eligible can-
didates of a minor party or a new party in a 
presidential election whose candidate for Presi-
dent in such election receives, as such can-
didate, 5 percent or more of the total number 
of popular votes cast for the office of President 
in such election shall be entitled to payments 
under section 9006 equal to the sum of— 
‘‘(i) the product of the popular vote 
ratio with respect to such candidate and 
the amount in effect under paragraph 
(1)(A), plus 
‘‘(ii) an amount equal to the applica-
ble percentage of the amount of each 
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matchable contribution received by such 
candidate on or after June 1 of the year 
of the presidential election, or by his au-
thorized committees. 
The total amount of payments to which such a 
candidate is entitled under clause (ii) shall not 
exceed the product of the amount in effect 
under the last sentence of paragraph (1)(A) 
and the popular vote ratio with respect to such 
candidate. 
‘‘(B) POPULAR VOTE RATIO WITH RESPECT 
TO A CANDIDATE.—For purposes of this para-
graph, the popular vote ratio with respect to a 
candidate in a presidential election is the ratio 
of the number of popular votes received by such 
candidate for the office of President in such 
election to the average number of popular votes 
received by the candidates for President of the 
major parties in such election. 
‘‘(C) 
APPLICABLE
PERCENTAGE.—For 
purposes of subparagraph (A), the applicable 
percentage is the product of 400 percent and 
the popular vote ratio with respect to such can-
didate. 
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‘‘(D) COORDINATION RULE.—In the case 
of eligible candidates entitled to payments 
under paragraph (2), the amount allowable 
under this paragraph shall be limited to the 
amount, if any, by which the entitlement under 
the preceding sentence exceeds the amount of 
the entitlement under paragraph (2).’’. 
(2) 
CONFORMING
AMENDMENT.—Section 
9005(a) is amended by adding at the end the fol-
lowing new sentence: ‘‘The Commission shall make 
such additional certifications as may be necessary to 
receive payments under section 9004.’’. 
(b) MATCHABLE CONTRIBUTION.—Section 9002 of 
such Code, as amended by section 202, is amended by add-
ing at the end the following new paragraph: 
‘‘(14) MATCHABLE CONTRIBUTION.—The term 
‘matchable contribution’ means, with respect to the 
election to the office of President of the United 
States, a contribution by an individual to a can-
didate or an authorized committee of a candidate— 
‘‘(A) which does not exceed $200, and 
‘‘(B) with respect to which the candidate 
has certified in writing that— 
‘‘(i) the individual making such con-
tribution has not made aggregate contribu-
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tions (including such matchable contribu-
tion) to such candidate and the authorized 
committees of such candidate in excess of 
$200 with respect to such election, 
‘‘(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 election, 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 
of money has been raised by such per-
son.’’. 
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SEC. 
204. 
INFLATION 
ADJUSTMENT 
FOR 
PAYMENT 
AMOUNTS AND QUALIFIED CONTRIBUTIONS. 
Section 9004 of such Code is amended by adding at 
the end the following new subsection: 
‘‘(f) INFLATION ADJUSTMENTS.— 
‘‘(1) IN GENERAL.—In the case of any applica-
ble period beginning after 2016, each of the dollar 
amounts in subsection (a)(1), section 9002(13), and 
section 9002(14) shall be increased by an amount 
equal to— 
‘‘(A) such dollar amount, multiplied by 
‘‘(B) the cost-of-living adjustment deter-
mined under section 1(f)(3) for the calendar 
year following the year which such applicable 
period begins, determined by substituting ‘cal-
endar year 2016’ for ‘calendar year 1992’ in 
subparagraph (B) thereof. 
‘‘(2) APPLICABLE
PERIOD.—For purposes of 
this subsection, the term ‘applicable period’ means 
the 4-year period beginning with the first day fol-
lowing the date of the last general election for the 
office of President and ending on the date of the 
next such general election. 
‘‘(3) ROUNDING.—If any amount as adjusted 
under paragraph (1) is not a multiple of $100, such 
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amount shall be rounded to the nearest multiple of 
$100.’’. 
SEC. 205. INCREASE IN LIMIT ON COORDINATED PARTY EX-
PENDITURES. 
(a) IN GENERAL.—Section 315(d)(2) of the Federal 
Election Campaign Act of 1971 (2 U.S.C. 441a(d)(2)) is 
amended to read as follows: 
‘‘(2)(A) The national committee of a political party 
may not make any expenditure in connection with the gen-
eral election campaign of any candidate for President of 
the United States who is affiliated with such party which 
exceeds $50,000,000. 
‘‘(B) For purposes of this paragraph— 
‘‘(i) any expenditure made by or on behalf of a 
national committee of a political party and in con-
nection with a presidential election shall be consid-
ered to be made in connection with the general elec-
tion campaign of a candidate for President of the 
United States who is affiliated with such party; and 
‘‘(ii) any communication made by or on behalf 
of such party shall be considered to be made in con-
nection with the general election campaign of a can-
didate for President of the United States who is af-
filiated with such party if any portion of the commu-
nication is in connection with such election. 
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‘‘(C) Any expenditure under this paragraph shall be 
in addition to any expenditure by a national committee 
of a political party serving as the principal campaign com-
mittee of a candidate for the office of President of the 
United States.’’. 
(b) CONFORMING AMENDMENTS RELATING TO TIM-
ING OF COST-OF-LIVING ADJUSTMENT.— 
(1) IN GENERAL.—Section 315(c)(1) of such 
Act (2 U.S.C. 441a(c)(1)), as amended by section 
202(d)(1)(B), is amended— 
(A) in subparagraph (B), by striking ‘‘(d)’’ 
and inserting ‘‘(d)(3)’’; and 
(B) by inserting at the end the following 
new subparagraph: 
‘‘(D) In any calendar year after 2016— 
‘‘(i) the dollar amount in subsection (d)(2) shall 
be increased by the percent difference determined 
under subparagraph (A); 
‘‘(ii) the amount so increased shall remain in 
effect for the calendar year; and 
‘‘(iii) if the amount after adjustment under 
clause (i) is not a multiple of $100, such amount 
shall be rounded to the nearest multiple of $100.’’. 
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(2) BASE YEAR.—Section 315(c)(2)(B) of such 
Act (2 U.S.C. 441a(c)(2)(B)), as amended by sec-
tion 202(d)(1)(B), is amended— 
(A) in clause (i)— 
(i) by striking ‘‘(d)’’ and inserting 
‘‘(d)(3)’’; and 
(ii) by striking ‘‘and’’ at the end; 
(B) in clause (ii), by striking the period at 
the end and inserting ‘‘; and’’; and 
(C) by adding at the end the following new 
clause: 
‘‘(iii) for purposes of subsection (d)(2), cal-
endar year 2015.’’. 
SEC. 206. ESTABLISHMENT OF UNIFORM DATE FOR RE-
LEASE OF PAYMENTS. 
(a) DATE FOR PAYMENTS.— 
(1) IN GENERAL.—Section 9006(b) of the In-
ternal Revenue Code of 1986 is amended to read as 
follows: 
‘‘(b) PAYMENTS FROM THE FUND.—If the Secretary 
of the Treasury receives a certification from the Commis-
sion under section 9005 for payment to the eligible can-
didates of a political party, the Secretary shall pay to such 
candidates out of the fund the amount certified by the 
Commission on the later of— 
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‘‘(1) the last Friday occurring before the first 
Monday in September, or 
‘‘(2) 24 hours after receiving the certifications 
for the eligible candidates of all major political par-
ties. 
Amounts paid to any such candidates shall be under the 
control of such candidates.’’. 
(2) CONFORMING AMENDMENT.—The first sen-
tence of section 9006(c) of such Code is amended by 
striking ‘‘the time of a certification by the Commis-
sion under section 9005 for payment’’ and inserting 
‘‘the time of making a payment under subsection 
(b)’’. 
(b) TIME FOR CERTIFICATION.—Section 9005(a) of 
the Internal Revenue Code of 1986 is amended by striking 
‘‘10 days’’ and inserting ‘‘24 hours’’. 
SEC. 207. AMOUNTS IN PRESIDENTIAL ELECTION CAM-
PAIGN FUND. 
(a) DETERMINATION OF AMOUNTS IN FUND.—Sec-
tion 9006(c) of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new sentence: 
‘‘In making a determination of whether there are insuffi-
cient moneys in the fund for purposes of the previous sen-
tence, the Secretary shall take into account in determining 
the balance of the fund for a Presidential election year 
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(1) in the first sentence, by striking ‘‘$3’’ each 
place it appears and inserting ‘‘$10’’; and 
(2) in the second sentence— 
(A) by striking ‘‘$6’’ and inserting ‘‘$20’’; 
and 
(B) by striking ‘‘$3’’ and inserting ‘‘$10’’. 
(b) INDEXING.—Section 6096 of such Code is amend-
ed by adding at the end the following new subsection: 
‘‘(d) INDEXING OF AMOUNT DESIGNATED.— 
‘‘(1) IN GENERAL.—With respect to each tax-
able year after 2012, each amount referred to in 
subsection (a) shall be increased by the percent dif-
ference described in paragraph (2), except that if 
any such amount after such an increase is not a 
multiple of $1, such amount shall be rounded to the 
nearest multiple of $1. 
‘‘(2) PERCENT DIFFERENCE DESCRIBED.—The 
percent difference described in this paragraph with 
respect to a taxable year is the percent difference 
determined under section 315(c)(1)(A) of the Fed-
eral Election Campaign Act of 1971 with respect to 
the calendar year during which the taxable year be-
gins, except that the base year involved shall be 
2011.’’. 
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