Title: Let It Go Act
Policy area: Government Operations and Politics

Summary:
Let It Go Act
This bill amends the Federal Election Campaign Act of 1971 to require individuals to use contributions or donations not later than six years following the most recent federal election in which the individual was a candidate and before the individual becomes a registered lobbyist.
This bill requires remaining contributions or donations to be disposed of within 30 days, first by paying debts or obligations owed in connection with the campaign for that office. Additional remaining funds must be disposed of by: (1) returning those contributions or donations to the individuals, entities, or both, who made them; (2) making contributions to a charitable organization; or (3) making transfers to a national, state, or local committee of a political party.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1723 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 1723

  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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 24, 2017

Mr. Takano (for himself and Mr. Conyers) introduced the following bill; 
      which was referred to the Committee on House Administration

_______________________________________________________________________

                                 A BILL


 
  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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Let It Go Act''.

SEC. 2. 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) is amended--
            (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--
                    ``(A) 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; or
                    ``(B) in the case of an individual who becomes a 
                registered lobbyist under the Lobbying Disclosure Act 
                of 1995, before the date on which such individual 
                becomes such a registered lobbyist.
            ``(2) Means of disposal; prioritization.--Beginning on the 
        date the 6-year period described in subparagraph (A) of 
        paragraph (1) ends (or, in the case of an individual described 
        in subparagraph (B) of such paragraph, the date on which the 
        individual becomes a registered lobbyist under the Lobbying 
        Disclosure Act of 1995), 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), through any of the following means of 
                disposal (or a combination thereof), in any order the 
                individual considers appropriate:
                            ``(i) Returning such contributions or 
                        donations to the individuals, entities, or 
                        both, who made such contributions or donations.
                            ``(ii) Making contributions to an 
                        organization described in section 170(c) of the 
                        Internal Revenue Code of 1986.
                            ``(iii) Making transfers to a national, 
                        State, or local committee of a political 
                        party.''.

SEC. 3. 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 2.
    (b) Individuals Described.--An individual described in this 
subsection is an individual who, as of the date of the enactment of 
this Act--
            (1)(A) 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; or
            (B) is an individual who becomes a registered lobbyist 
        under the Lobbying Disclosure Act of 1995; 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), 
        as amended by section 2.
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