the Secretary’s best estimate of the amount of moneys 
which will be deposited into the fund during the year, ex-
cept that the amount of the estimate may not exceed the 
average of the annual amounts deposited in the fund dur-
ing the previous 3 years.’’. 
(b) SPECIAL RULE FOR FIRST CAMPAIGN CYCLE 
UNDER THIS ACT.— 
(1) IN GENERAL.—Section 9006 of the Internal 
Revenue Code of 1986 is amended by adding at the 
end the following new subsection: 
‘‘(d) SPECIAL AUTHORITY TO BORROW.— 
‘‘(1) IN GENERAL.—Notwithstanding subsection 
(c), there are authorized to be appropriated to the 
fund, as repayable advances, such sums as are nec-
essary to carry out the purposes of the fund during 
the period ending on the first presidential election 
occurring after the date of the enactment of this 
subsection. 
‘‘(2) REPAYMENT OF ADVANCES.— 
‘‘(A) IN GENERAL.—Advances made to the 
fund shall be repaid, and interest on such ad-
vances shall be paid, to the general fund of the 
Treasury when the Secretary determines that 
moneys are available for such purposes in the 
fund. 
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‘‘(B) RATE OF INTEREST.—Interest on ad-
vances made to the fund shall be at a rate de-
termined by the Secretary of the Treasury (as 
of the close of the calendar month preceding the 
month in which the advance is made) to be 
equal to the current average market yield on 
outstanding marketable obligations of the 
United States with remaining periods to matu-
rity comparable to the anticipated period during 
which the advance will be outstanding and shall 
be compounded annually.’’. 
(2) EFFECTIVE DATE.—The amendment made 
by this subsection shall take effect January 1, 2013. 
SEC. 208. USE OF GENERAL ELECTION PAYMENTS FOR GEN-
ERAL ELECTION LEGAL AND ACCOUNTING 
COMPLIANCE. 
Section 9002(11) of the Internal Revenue Code of 
1986 is amended by adding at the end the following new 
sentence: ‘‘For purposes of subparagraph (A), an expense 
incurred by a candidate or authorized committee for gen-
eral election legal and accounting compliance purposes 
shall be considered to be an expense to further the election 
of such candidate.’’. 
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TITLE III—POLITICAL 
CONVENTIONS 
SEC. 301. REPEAL OF PUBLIC FINANCING OF PARTY CON-
VENTIONS. 
(a) IN GENERAL.—Chapter 95 of the Internal Rev-
enue Code of 1986 is amended by striking section 9008. 
(b) CONFORMING AMENDMENTS.— 
(1) Section 9006(c) of such Code is amended by 
striking ‘‘section 9008(b)(3)’’. 
(2) Section 9009 of such Code is amended by 
inserting ‘‘and’’ at the end of paragraph (3), by 
striking the semi-colon at the end of paragraph (4) 
and inserting a period, and by striking paragraphs 
(5) and (6). 
(3) Section 9012 of such Code, as amended by 
section 202(d)(4), is amended— 
(A) by striking subsection (a) and redesig-
nating subsections (b) through (f) as sub-
sections (a) through (e), respectively; and 
(B) in subsection (a), as redesignated by 
subparagraph (A), by striking paragraph (2) 
and redesignating paragraph (3) as paragraph 
(2). 
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(4) Section 9037(a) of such Code is amended 
by striking ‘‘and for payments under section 
9008(b)(3)’’. 
SEC. 302. CONTRIBUTIONS FOR POLITICAL CONVENTIONS. 
(a) SEPARATE CONTRIBUTION LIMITATION.— 
(1) INDIVIDUALS.— 
(A) IN
GENERAL.—Subsection (a)(1) of 
section 315 of the Federal Election Campaign 
Act of 1971 (2 U.S.C. 441a) is amended by 
striking ‘‘or’’ at the end of subparagraph (C), 
by striking the period at the end of subpara-
graph (D) and inserting ‘‘; or’’, and by adding 
at the end the following new subparagraph: 
‘‘(E) to the national nominating convention 
account of political committees established and 
maintained by a national political party, in any 
4-year period ending on the last day of the cal-
endar year beginning on the day after a general 
election for the office of President which, in the 
aggregate, exceed the dollar amount in effect 
under subparagraph (B);’’. 
(B) CONFORMING AMENDMENT.—Subpara-
graph (B) of section 315(a)(1) of such Act (2 
U.S.C. 441a(a)(1)) is amended by inserting 
‘‘(other than to the national nominating conven-
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tion accounts of such political committees which 
are described in subparagraph (E))’’ after ‘‘na-
tional political party’’. 
(2) AGGREGATE CONTRIBUTION LIMITATION.— 
Paragraph (3) of section 315(a) of such Act (2 
U.S.C. 441a(a)) is amended by adding at the end 
the following new flush sentence: 
‘‘The dollar amount in subparagraph (B) shall be in-
creased by the amount of contributions (not in excess of 
the dollar amount in effect under subparagraph (E)) made 
to the national nominating convention account of a polit-
ical committee established and maintained by a national 
political party during the period described in the preceding 
sentence.’’. 
(b) NATIONAL
NOMINATING
CONVENTION
AC-
COUNT.—Subsection (a) of section 315 of such Act (2 
U.S.C. 441a) is amended by adding at the end the fol-
lowing new paragraph: 
‘‘(9) For purposes of this subsection, the na-
tional nomination convention account of any political 
committees established and maintained by a national 
political party is a separate account the funds of 
which may only be used to defray the costs of the 
national nominating convention of such party.’’. 
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SEC. 303. PROHIBITION ON USE OF SOFT MONEY. 
Section 323 of the Federal Election Campaign Act 
of 1971 (2 U.S.C. 441i) is amended by adding at the end 
the following new subsection: 
‘‘(g) NATIONAL
CONVENTIONS.—Any person de-
scribed in subsection (a) or (e) shall not solicit, receive, 
direct, transfer, or spend any funds in connection with a 
presidential nominating convention of any political party, 
including funds from or for a host committee, civic com-
mittee, municipality, or any other person or entity spend-
ing funds in connection with such a convention, unless 
such funds— 
‘‘(1) are not in excess of the amounts permitted 
with respect to contributions to the political com-
mittee established and maintained by a national po-
litical party committee under section 315; and 
‘‘(2) are not from sources prohibited by this Act 
from making contributions in connection with an 
election for Federal office.’’. 
TITLE IV—OTHER PROVISIONS 
SEC. 401. REVISIONS TO DESIGNATION OF INCOME TAX 
PAYMENTS BY INDIVIDUAL TAXPAYERS. 
(a) INCREASE IN AMOUNT DESIGNATED.—Section 
6096(a) of the Internal Revenue Code of 1986 is amend-
ed— 
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(c) ENSURING TAX PREPARATION SOFTWARE DOES 
NOT PROVIDE AUTOMATIC RESPONSE TO DESIGNATION 
QUESTION.—Section 6096 of such Code, as amended by 
subsection (b), is amended by adding at the end the fol-
lowing new subsection: 
‘‘(e) ENSURING TAX PREPARATION SOFTWARE DOES 
NOT PROVIDE AUTOMATIC RESPONSE TO DESIGNATION 
QUESTION.—The Secretary shall promulgate regulations 
to ensure that electronic software used in the preparation 
or filing of individual income tax returns does not auto-
matically accept or decline a designation of a payment 
under this section.’’. 
(d) PUBLIC INFORMATION PROGRAM ON DESIGNA-
TION.—Section 6096 of such Code, as amended by sub-
sections (b) and (c), is amended by adding at the end the 
following new subsection: 
‘‘(f) PUBLIC INFORMATION PROGRAM.— 
‘‘(1) IN GENERAL.—The Federal Election Com-
mission shall conduct a program to inform and edu-
cate the public regarding the purposes of the Presi-
dential Election Campaign Fund, the procedures for 
the designation of payments under this section, and 
the effect of such a designation on the income tax 
liability of taxpayers. 
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‘‘(2) USE OF FUNDS FOR PROGRAM.—Amounts 
in the Presidential Election Campaign Fund shall be 
made available to the Federal Election Commission 
to carry out the program under this subsection, ex-
cept that the amount made available for this pur-
pose may not exceed $10,000,000 with respect to 
any Presidential election cycle. In this paragraph, a 
‘Presidential election cycle’ is the 4-year period be-
ginning with January of the year following a Presi-
dential election.’’. 
(e) EFFECTIVE DATE.—The amendments made by 
this section shall take effect January 1, 2013. 
SEC. 402. REGULATIONS WITH RESPECT TO BEST EFFORTS 
FOR IDENTIFYING PERSONS MAKING CON-
TRIBUTIONS. 
Not later than 6 months after the date of enactment 
of this Act, the Federal Election Commission shall pro-
mulgate regulations with respect to what constitutes best 
efforts under section 302(i) of the Federal Election Cam-
paign Act of 1971 (2 U.S.C. 432(i)) for determining the 
identification of persons making contributions to political 
committees, including the identifications of persons mak-
ing contributions over the Internet or by credit card. Such 
regulations shall include a requirement that in the case 
of contributions made by a credit card, the political com-
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mittee shall ensure that the name on the credit card used 
to make the contribution matches the name of the person 
making the contribution. 
SEC. 403. PROHIBITION ON JOINT FUNDRAISING COMMIT-
TEES. 
(a) IN GENERAL.—Section 302(e) of the Federal 
Election Campaign Act of 1971 (2 U.S.C. 432(e)) is 
amended by adding at the end the following new para-
graph: 
‘‘(6) No authorized committee of a candidate 
may establish a joint fundraising committee with a 
political committee other than an authorized com-
mittee of a candidate.’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall take effect on January 1, 2013. 
SEC. 404. DISCLOSURE OF BUNDLED CONTRIBUTIONS TO 
PRESIDENTIAL CAMPAIGNS. 
(a) IN GENERAL.—Paragraphs (1) through (3) of 
section 304(i) of the Federal Election Campaign Act of 
1971 (2 U.S.C. 434(i)) are amended to read as follows: 
‘‘(1) IN GENERAL.— 
‘‘(A) DISCLOSURE
OF
BUNDLED
CON-
TRIBUTIONS BY LOBBYISTS.—Each committee 
described in paragraph (6) shall include in the 
first report required to be filed under this sec-
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tion after each covered period (as defined in 
paragraph (2)) a separate schedule setting forth 
the name, address, and employer of each person 
reasonably known by the committee to be a per-
son described in paragraph (7) who provided 2 
or more bundled contributions to the committee 
in an aggregate amount greater than the appli-
cable threshold (as defined in paragraph (3)) 
during the covered period, and the aggregate 
amount of the bundled contributions provided 
by each such person during the covered period. 
‘‘(B) DISCLOSURE
OF
BUNDLED
CON-
TRIBUTIONS
TO
PRESIDENTIAL
CAMPAIGNS.— 
Each committee which is an authorized com-
mittee of a candidate for the office of President 
or for nomination to such office shall include in 
the first report required to be filed under this 
section after each covered period (as defined in 
paragraph (2)) a separate schedule setting forth 
the name, address, and employer of each person 
who provided 2 or more bundled contributions 
to the committee in an aggregate amount great-
er than the applicable threshold (as defined in 
paragraph (3)) during the election cycle, and 
the aggregate amount of the bundled contribu-
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tions provided by each such person during the 
covered period and such election cycle. Such 
schedule shall include a separate listing of the 
name, address, and employer of each person in-
cluded on such schedule who is reasonably 
known by the committee to be a person de-
scribed in paragraph (7), together with the ag-
gregate amount of bundled contributions pro-
vided by such person during such period and 
such cycle. 
‘‘(2) COVERED PERIOD.—In this subsection, a 
‘covered period’ means— 
‘‘(A) with respect to a committee which is 
an authorized committee of a candidate for the 
office of President or for nomination to such of-
fice— 
‘‘(i) the 4-year election cycle ending 
with the date of the election for the office 
of the President; and 
‘‘(ii) any reporting period applicable 
to the committee under this section during 
which any person provided 2 or more bun-
dled contributions to the committee; and 
‘‘(B) with respect to any other com-
mittee— 
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‘‘(i) the period beginning January 1 
and ending June 30 of each year; 
‘‘(ii) the period beginning July 1 and 
ending December 31 of each year; and 
‘‘(iii) any reporting period applicable 
to the committee under this section during 
which any person described in paragraph 
(7) provided 2 or more bundled contribu-
tions to the committee in an aggregate 
amount greater than the applicable thresh-
old. 
‘‘(3) APPLICABLE THRESHOLD.— 
‘‘(A) IN GENERAL.—In this subsection, the 
‘applicable threshold’ is— 
‘‘(i) $50,000 in the case of a com-
mittee which is an authorized committee of 
a candidate for the office of President or 
for nomination to such office; and 
‘‘(ii) $15,000 in the case of any other 
committee. 
In determining whether the amount of bundled 
contributions provided to a committee by a per-
son exceeds the applicable threshold, there shall 
be excluded any contribution made to the com-
mittee by the person or the person’s spouse. 
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