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‘‘(2) to make payments to candidates under 
chapter 95 of subtitle H of the Internal Revenue 
Code of 1986, subject to reductions under section 
9013(b) of such Code; and 
‘‘(3) to make payments to candidates under 
chapter 96 of subtitle H of the Internal Revenue 
Code of 1986, subject to reductions under section 
9043(b) of such Code. 
‘‘(e) NO TAXPAYER FUNDS PERMITTED.—No tax-
payer funds may be deposited into the Fund. 
‘‘(f) EFFECTIVE DATE.—This section shall take ef-
fect on the date of the enactment of this title. 
‘‘SEC. 542. REVIEWS AND REPORTS BY GOVERNMENT AC-
COUNTABILITY OFFICE. 
‘‘(a) REVIEW OF SMALL DOLLAR FINANCING.— 
‘‘(1) IN GENERAL.—After each regularly sched-
uled general election for Federal office, the Comp-
troller General of the United States shall conduct a 
comprehensive review of the Small Dollar financing 
program under this title, including— 
‘‘(A) the maximum and minimum dollar 
amounts of qualified small dollar contributions 
under section 504; 
‘‘(B) the number and value of qualified 
small dollar contributions a candidate is re-
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quired to obtain under section 512(a) to be eli-
gible for certification as a participating can-
didate; 
‘‘(C) the maximum amount of payments a 
candidate may receive under this title; 
‘‘(D) the overall satisfaction of partici-
pating candidates and the American public with 
the program; 
‘‘(E) the extent to which the program in-
creased opportunities for participation by can-
didates of diverse racial, gender, and socio-eco-
nomic backgrounds; and 
‘‘(F) such other matters relating to financ-
ing of campaigns as the Comptroller General 
determines are appropriate. 
‘‘(2) CRITERIA
FOR
REVIEW.—In conducting 
the review under subparagraph (A), the Comptroller 
General shall consider the following: 
‘‘(A) QUALIFIED
SMALL
DOLLAR
CON-
TRIBUTIONS.—Whether the number and dollar 
amounts of qualified small dollar contributions 
required strikes an appropriate balance regard-
ing the importance of voter involvement, the 
need to assure adequate incentives for partici-
pating, and fiscal responsibility, taking into 
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consideration the number of primary and gen-
eral election participating candidates, the elec-
toral performance of those candidates, program 
cost, and any other information the Comptroller 
General determines is appropriate. 
‘‘(B) REVIEW
OF
PAYMENT
LEVELS.— 
Whether the totality of the amount of funds al-
lowed to be raised by participating candidates 
(including through qualified small dollar con-
tributions) and payments under this title are 
sufficient for voters in each State to learn about 
the candidates to cast an informed vote, taking 
into account the historic amount of spending by 
winning candidates, media costs, primary elec-
tion dates, and any other information the 
Comptroller General determines is appropriate. 
‘‘(3) RECOMMENDATIONS FOR ADJUSTMENT OF 
AMOUNTS.—Based on the review conducted under 
subparagraph (A), the Comptroller General may rec-
ommend to Congress adjustments of the following 
amounts: 
‘‘(A) The number and value of qualified 
small dollar contributions a candidate is re-
quired to obtain under section 512(a) to be eli-
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gible for certification as a participating can-
didate. 
‘‘(B) The maximum amount of payments a 
candidate may receive under this title. 
‘‘(b) REPORTS.—Not later than each June 1 which 
follows a regularly scheduled general election for Federal 
office for which payments were made under this title, the 
Comptroller General shall submit to the Committee on 
House Administration of the House of Representatives a 
report— 
‘‘(1) containing an analysis of the review con-
ducted under subsection (a), including a detailed 
statement of Comptroller General’s findings, conclu-
sions, and recommendations based on such review, 
including any recommendations for adjustments of 
amounts described in subsection (a)(3); and 
‘‘(2) documenting, evaluating, and making rec-
ommendations relating to the administrative imple-
mentation and enforcement of the provisions of this 
title. 
‘‘(c) AUTHORIZATION OF APPROPRIATIONS.—There 
are authorized to be appropriated such sums as are nec-
essary to carry out the purposes of this section. 
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‘‘SEC. 543. ADMINISTRATION BY COMMISSION. 
‘‘The Commission shall prescribe regulations to carry 
out the purposes of this title, including regulations to es-
tablish procedures for— 
‘‘(1) verifying the amount of qualified small dol-
lar contributions with respect to a candidate; 
‘‘(2) effectively and efficiently monitoring and 
enforcing the limits on the raising of qualified small 
dollar contributions; 
‘‘(3) effectively and efficiently monitoring and 
enforcing the limits on the use of personal funds by 
participating candidates; and 
‘‘(4) monitoring the use of allocations from the 
Freedom From Influence Fund established under 
section 541 and matching contributions under this 
title through audits of not fewer than 1⁄10 (or, in the 
case of the first 3 election cycles during which the 
program under this title is in effect, not fewer than 
1⁄3) of all participating candidates or other mecha-
nisms. 
‘‘SEC. 544. VIOLATIONS AND PENALTIES. 
‘‘(a) CIVIL PENALTY FOR VIOLATION OF CONTRIBU-
TION
AND EXPENDITURE REQUIREMENTS.—If a can-
didate who has been certified as a participating candidate 
accepts a contribution or makes an expenditure that is 
prohibited under section 521, the Commission may assess 
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