Title: Fair Elections Now Act of 2019
Policy area: Government Operations and Politics

Summary:
Fair Elections Now Act of 2019
This bill establishes the Fair Elections Fund, which shall provide funding to Senate candidates who meet specified conditions and agree to abide by certain requirements, such as limits on types of campaign funding sources. The bill also revises provisions related to broadcasts of Senate campaign advertisements and imposes a tax on certain U.S. government contracts.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2257 Introduced in Senate (IS)]

<DOC>






116th CONGRESS
  1st Session
                                S. 2257

  To reform the financing of Senate elections, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 24, 2019

 Mr. Durbin (for himself, Ms. Baldwin, Mr. Bennet, Mr. Blumenthal, Mr. 
  Booker, Mr. Cardin, Mr. Coons, Ms. Duckworth, Mrs. Gillibrand, Ms. 
Harris, Mr. Heinrich, Ms. Hirono, Mr. King, Ms. Klobuchar, Mr. Markey, 
 Mr. Merkley, Mr. Menendez, Mr. Murphy, Mrs. Murray, Mr. Sanders, Mr. 
     Schatz, Ms. Smith, Mr. Udall, Mr. Van Hollen, and Ms. Warren) 
introduced the following bill; which was read twice and referred to the 
                          Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To reform the financing of Senate elections, 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; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Fair Elections Now 
Act of 2019''.
    (b) Table of Contents.--The table of contents of this Act is as 
follows:

Sec. 1. Short title; table of contents.
      TITLE I--SMALL DOLLAR FINANCING OF SENATE ELECTION CAMPAIGNS

Sec. 101. Eligibility requirements and benefits of Fair Elections 
                            financing of Senate election campaigns.
Sec. 102. Prohibition on joint fundraising committees.
Sec. 103. Exception to limitation on coordinated expenditures by 
                            political party committees with 
                            participating candidates.
                 TITLE II--IMPROVING VOTER INFORMATION

Sec. 201. Broadcasts relating to all Senate candidates.
Sec. 202. Broadcast rates for participating candidates.
Sec. 203. FCC to prescribe standardized form for reporting candidate 
                            campaign ads.
     TITLE III--RESPONSIBILITIES OF THE FEDERAL ELECTION COMMISSION

Sec. 301. Petition for certiorari.
Sec. 302. Electronic filing of FEC reports.
                      TITLE IV--REVENUE PROVISIONS

Sec. 401. Fair Elections Fund revenue.
                   TITLE V--MISCELLANEOUS PROVISIONS

Sec. 501. Severability.
Sec. 502. Effective date.

      TITLE I--SMALL DOLLAR FINANCING OF SENATE ELECTION CAMPAIGNS

SEC. 101. ELIGIBILITY REQUIREMENTS AND BENEFITS OF FAIR ELECTIONS 
              FINANCING OF SENATE ELECTION CAMPAIGNS.

    The Federal Election Campaign Act of 1971 (52 U.S.C. 30101 et seq.) 
is amended by adding at the end the following:

    ``TITLE V--FAIR ELECTIONS FINANCING OF SENATE ELECTION CAMPAIGNS

                    ``Subtitle A--General Provisions

``SEC. 501. DEFINITIONS.

    ``In this title:
            ``(1) Allocation from the fund.--The term `allocation from 
        the Fund' means an allocation of money from the Fair Elections 
        Fund to a participating candidate pursuant to section 522.
            ``(2) Commission.--The term `Commission' means the Federal 
        Election Commission.
            ``(3) Enhanced matching contribution.--The term `enhanced 
        matching contribution' means an enhanced matching payment 
        provided to a participating candidate for qualified small 
        dollar contributions, as provided under section 524.
            ``(4) Enhanced support qualifying period.--The term 
        `enhanced support qualifying period' means, with respect to a 
        general election, the period which begins 60 days before the 
        date of the election and ends 14 days before the date of the 
        election.
            ``(5) Fair elections qualifying period.--The term `Fair 
        Elections qualifying period' means, with respect to any 
        candidate for Senator, the period--
                    ``(A) beginning on the date on which the candidate 
                files a statement of intent under section 511(a)(1); 
                and
                    ``(B) ending on the date that is 30 days before--
                            ``(i) the date of the primary election; or
                            ``(ii) in the case of a State that does not 
                        hold a primary election, the date prescribed by 
                        State law as the last day to qualify for a 
                        position on the general election ballot.
            ``(6) Fair elections start date.--The term `Fair Elections 
        start date' means, with respect to any candidate, the date that 
        is 180 days before--
                    ``(A) the date of the primary election; or
                    ``(B) in the case of a State that does not hold a 
                primary election, the date prescribed by State law as 
                the last day to qualify for a position on the general 
                election ballot.
            ``(7) Fund.--The term `Fund' means the Fair Elections Fund 
        established by section 502.
            ``(8) Immediate family.--The term `immediate family' means, 
        with respect to any candidate--
                    ``(A) the candidate's spouse;
                    ``(B) a child, stepchild, parent, grandparent, 
                brother, half-brother, sister, or half-sister of the 
                candidate or the candidate's spouse; and
                    ``(C) the spouse of any person described in 
                subparagraph (B).
            ``(9) Matching contribution.--The term `matching 
        contribution' means a matching payment provided to a 
        participating candidate for qualified small dollar 
        contributions, as provided under section 523.
            ``(10) Nonparticipating candidate.--The term 
        `nonparticipating candidate' means a candidate for Senator who 
        is not a participating candidate.
            ``(11) Participating candidate.--The term `participating 
        candidate' means a candidate for Senator who is certified under 
        section 514 as being eligible to receive an allocation from the 
        Fund.
            ``(12) Qualifying contribution.--The term `qualifying 
        contribution' means, with respect to a candidate, a 
        contribution that--
                    ``(A) is in an amount that is--
                            ``(i) not less than the greater of $5 or 
                        the amount determined by the Commission under 
                        section 531; and
                            ``(ii) not more than the greater of $200 or 
                        the amount determined by the Commission under 
                        section 531;
                    ``(B) is made by an individual--
                            ``(i) who is a resident of the State in 
                        which such candidate is seeking election; and
                            ``(ii) who is not otherwise prohibited from 
                        making a contribution under this Act;
                    ``(C) is made during the Fair Elections qualifying 
                period; and
                    ``(D) meets the requirements of section 512(b).
            ``(13) Qualified small dollar contribution.--The term 
        `qualified small dollar contribution' means, with respect to a 
        candidate, any contribution (or series of contributions)--
                    ``(A) which is not a qualifying contribution (or 
                does not include a qualifying contribution);
                    ``(B) which is made by an individual who is not 
                prohibited from making a contribution under this Act; 
                and
                    ``(C) the aggregate amount of which does not exceed 
                the greater of--
                            ``(i) $200 per election; or
                            ``(ii) the amount per election determined 
                        by the Commission under section 531.
            ``(14) Qualifying multicandidate political committee 
        contribution.--
                    ``(A) In general.--The term `qualifying 
                multicandidate political committee contribution' means 
                any contribution to a candidate that is made from a 
                qualified account of a multicandidate political 
                committee (within the meaning of section 315(a)(2)).
                    ``(B) Qualified account.--For purposes of 
                subparagraph (A), the term `qualified account' means, 
                with respect to a multicandidate political committee, a 
                separate, segregated account of the committee that 
                consists solely of contributions which meet the 
                following requirements:
                            ``(i) All contributions to such account are 
                        made by individuals who are not prohibited from 
                        making contributions under this Act.
                            ``(ii) The aggregate amount of 
                        contributions from each individual to such 
                        account and all other accounts of the political 
                        committee do not exceed the amount described in 
                        paragraph (13)(C).

``SEC. 502. FAIR ELECTIONS FUND.

    ``(a) Establishment.--There is established in the Treasury a fund 
to be known as the `Fair Elections Fund'.
    ``(b) Amounts Held by Fund.--The Fund shall consist of the 
following amounts:
            ``(1) Appropriated amounts.--
                    ``(A) In general.--Amounts appropriated to the 
                Fund.
                    ``(B) Sense of the senate regarding 
                appropriations.--It is the sense of the Senate that--
                            ``(i) there should be imposed on any 
                        payment made to any person (other than a State 
                        or local government or a foreign nation) who 
                        has a contract with the Government of the 
                        United States in excess of $10,000,000 a tax 
                        equal to 0.50 percent of amount paid pursuant 
                        to each contract, except that the aggregate tax 
                        on each contract for any taxable year shall not 
                        exceed $500,000; and
                            ``(ii) the revenue from such tax should be 
                        appropriated to the Fund.
            ``(2) Voluntary contributions.--Voluntary contributions to 
        the Fund.
            ``(3) Other deposits.--Amounts deposited into the Fund 
        under--
                    ``(A) section 513(c) (relating to exceptions to 
                contribution requirements);
                    ``(B) section 521(c) (relating to remittance of 
                allocations from the Fund);
                    ``(C) section 532 (relating to violations); and
                    ``(D) any other section of this Act.
            ``(4) Investment returns.--Interest on, and the proceeds 
        from, the sale or redemption of, any obligations held by the 
        Fund under subsection (c).
    ``(c) Investment.--The Commission shall invest portions of the Fund 
in obligations of the United States in the same manner as provided 
under section 9602(b) of the Internal Revenue Code of 1986.
    ``(d) Use of Fund.--
            ``(1) In general.--The sums in the Fund shall be used to 
        provide benefits to participating candidates as provided in 
        subtitle C.
            ``(2) Insufficient amounts.--Under regulations established 
        by the Commission, rules similar to the rules of section 
        9006(c) of the Internal Revenue Code shall apply.

              ``Subtitle B--Eligibility and Certification

``SEC. 511. ELIGIBILITY.

    ``(a) In General.--A candidate for Senator is eligible to receive 
an allocation from the Fund for any election if the candidate meets the 
following requirements:
            ``(1) The candidate files with the Commission a statement 
        of intent to seek certification as a participating candidate 
        under this title during the period beginning on the Fair 
        Elections start date and ending on the last day of the Fair 
        Elections qualifying period.
            ``(2) The candidate meets the qualifying contribution 
        requirements of section 512.
            ``(3) Not later than the last day of the Fair Elections 
        qualifying period, the candidate files with the Commission an 
        affidavit signed by the candidate and the treasurer of the 
        candidate's principal campaign committee declaring that the 
        candidate--
                    ``(A) has complied and, if certified, will comply 
                with the contribution and expenditure requirements of 
                section 513;
                    ``(B) if certified, will not run as a 
                nonparticipating candidate during such year in any 
                election for the office that such candidate is seeking; 
                and
                    ``(C) has either qualified or will take steps to 
                qualify under State law to be on the ballot.
    ``(b) General Election.--Notwithstanding subsection (a), a 
candidate shall not be eligible to receive an allocation from the Fund 
for a general election or a general runoff election unless the 
candidate's party nominated the candidate to be placed on the ballot 
for the general election or the candidate otherwise qualified to be on 
the ballot under State law.

``SEC. 512. QUALIFYING CONTRIBUTION REQUIREMENT.

    ``(a) In General.--A candidate for Senator meets the requirement of 
this section if, during the Fair Elections qualifying period, the 
candidate obtains--
            ``(1) a number of qualifying contributions equal to the 
        greater of--
                    ``(A) the sum of--
                            ``(i) 2,000; plus
                            ``(ii) 500 for each congressional district 
                        in the State with respect to which the 
                        candidate is seeking election; or
                    ``(B) the amount determined by the Commission under 
                section 531; and
            ``(2) a total dollar amount of qualifying contributions 
        equal to the greater of--
                    ``(A) 10 percent of the amount of the allocation 
                such candidate would be entitled to receive for the 
                primary election under section 522(c)(1) (determined 
                without regard to paragraph (5) thereof) if such 
                candidate were a participating candidate; or
                    ``(B) the amount determined by the Commission under 
                section 531.
    ``(b) Requirements Relating to Receipt of Qualifying 
Contribution.--Each qualifying contribution--
            ``(1) may be made by means of a personal check, money 
        order, debit card, credit card, or electronic payment account;
            ``(2) shall be accompanied by a signed statement 
        containing--
                    ``(A) the contributor's name and the contributor's 
                address in the State in which the contributor is 
                registered to vote; and
                    ``(B) an oath declaring that the contributor--
                            ``(i) understands that the purpose of the 
                        qualifying contribution is to show support for 
                        the candidate so that the candidate may qualify 
                        for Fair Elections financing;
                            ``(ii) is making the contribution in his or 
                        her own name and from his or her own funds;
                            ``(iii) has made the contribution 
                        willingly; and
                            ``(iv) has not received anything of value 
                        in return for the contribution; and
            ``(3) shall be acknowledged by a receipt that is sent to 
        the contributor with a copy kept by the candidate for the 
        Commission and a copy kept by the candidate for the election 
        authorities in the State with respect to which the candidate is 
        seeking election.
    ``(c) Verification of Qualifying Contributions.--The Commission 
shall establish procedures for the auditing and verification of 
qualifying contributions to ensure that such contributions meet the 
requirements of this section.

``SEC. 513. CONTRIBUTION AND EXPENDITURE REQUIREMENTS.

    ``(a) General Rule.--A candidate for Senator meets the requirements 
of this section if, during the election cycle of the candidate, the 
candidate--
            ``(1) except as provided in subsection (b), accepts no 
        contributions other than--
                    ``(A) qualifying contributions;
                    ``(B) qualified small dollar contributions;
                    ``(C) qualifying multicandidate political committee 
                contributions;
                    ``(D) allocations from the Fund under section 522;
                    ``(E) matching contributions under section 523;
                    ``(F) enhanced matching contributions under section 
                524; and
                    ``(G) vouchers provided to the candidate under 
                section 525;
            ``(2) makes no expenditures from any amounts other than 
        from--
                    ``(A) qualifying contributions;
                    ``(B) qualified small dollar contributions;
                    ``(C) qualifying multicandidate political committee 
                contributions;
                    ``(D) allocations from the Fund under section 522;
                    ``(E) matching contributions under section 523;
                    ``(F) enhanced matching contributions under section 
                524; and
                    ``(G) vouchers provided to the candidate under 
                section 525; and
            ``(3) makes no expenditures from personal funds or the 
        funds of any immediate family member (other than funds received 
        through qualified small dollar contributions and qualifying 
        contributions).
For purposes of this subsection, a payment made by a political party in 
coordination with a participating candidate shall not be treated as a 
contribution to or as an expenditure made by the participating 
candidate.
    ``(b) Contributions for Leadership PACs, etc.--A political 
committee of a participating candidate which is not an authorized 
committee of such candidate may accept contributions other than 
contributions described in subsection (a)(1) from any person if--
            ``(1) the aggregate contributions from such person for any 
        calendar year do not exceed $200; and
            ``(2) no portion of such contributions is disbursed in 
        connection with the campaign of the participating candidate.
    ``(c) Exception.--Notwithstanding subsection (a), a candidate shall 
not be treated as having failed to meet the requirements of this 
section if any contributions that are not qualified small dollar 
contributions, qualifying contributions, qualifying multicandidate 
political committee contributions, or contributions that meet the 
requirements of subsection (b) and that are accepted before the date 
the candidate files a statement of intent under section 511(a)(1) are--
            ``(1) returned to the contributor; or
            ``(2) submitted to the Commission for deposit in the Fund.

``SEC. 514. CERTIFICATION.

    ``(a) In General.--Not later than 5 days after a candidate for 
Senator files an affidavit under section 511(a)(3), the Commission 
shall--
            ``(1) certify whether or not the candidate is a 
        participating candidate; and
            ``(2) notify the candidate of the Commission's 
        determination.
    ``(b) Revocation of Certification.--
            ``(1) In general.--The Commission may revoke a 
        certification under subsection (a) if--
                    ``(A) a candidate fails to qualify to appear on the 
                ballot at any time after the date of certification; or
                    ``(B) a candidate otherwise fails to comply with 
                the requirements of this title, including any 
                regulatory requirements prescribed by the Commission.
            ``(2) Repayment of benefits.--If certification is revoked 
        under paragraph (1), the candidate shall repay to the Fund an 
        amount equal to the value of benefits received under this title 
        plus interest (at a rate determined by the Commission) on any 
        such amount received.

                         ``Subtitle C--Benefits

``SEC. 521. BENEFITS FOR PARTICIPATING CANDIDATES.

    ``(a) In General.--For each election with respect to which a 
candidate is certified as a participating candidate under section 514, 
such candidate shall be entitled to--
            ``(1) an allocation from the Fund to make or obligate to 
        make expenditures with respect to such election, as provided in 
        section 522;
            ``(2) matching contributions, as provided in section 523;
            ``(3) enhanced matching contributions, as provided in 
        section 524; and
            ``(4) for the general election, vouchers for broadcasts of 
        political advertisements, as provided in section 525.
    ``(b) Restriction on Uses of Allocations From the Fund.--
Allocations from the Fund received by a participating candidate under 
section 522, matching contributions under section 523, and enhanced 
matching contributions under section 524 may only be used for campaign-
related costs.
    ``(c) Remitting Allocations From the Fund.--
            ``(1) In general.--Not later than the date that is 45 days 
        after an election in which the participating candidate appeared 
        on the ballot, such participating candidate shall remit to the 
        Commission for deposit in the Fund an amount equal to the 
        lesser of--
                    ``(A) the amount of money in the candidate's 
                campaign account; or
                    ``(B) the sum of the allocations from the Fund 
                received by the candidate under section 522, the 
                matching contributions received by the candidate under 
                section 523, and the enhanced matching contributions 
                under section 524.
            ``(2) Exception.--In the case of a candidate who qualifies 
        to be on the ballot for a primary runoff election, a general 
        election, or a general runoff election, the amounts described 
        in paragraph (1) may be retained by the candidate and used in 
        such subsequent election.

``SEC. 522. ALLOCATIONS FROM THE FUND.

    ``(a) In General.--The Commission shall make allocations from the 
Fund under section 521(a)(1) to a participating candidate--
            ``(1) in the case of amounts provided under subsection 
        (c)(1), not later than 48 hours after the date on which such 
        candidate is certified as a participating candidate under 
        section 514;
            ``(2) in the case of a general election, not later than 48 
        hours after--
                    ``(A) the date of the certification of the results 
                of the primary election or the primary runoff election; 
                or
                    ``(B) in any case in which there is no primary 
                election, the date the candidate qualifies to be placed 
                on the ballot; and
            ``(3) in the case of a primary runoff election or a general 
        runoff election, not later than 48 hours after the 
        certification of the results of the primary election or the 
        general election, as the case may be.
    ``(b) Method of Payment.--The Commission shall distribute funds 
available to participating candidates under this section through the 
use of an electronic funds exchange or a debit card.
    ``(c) Amounts.--
            ``(1) Primary election allocation; initial allocation.--
        Except as provided in paragraph (5), the Commission shall make 
        an allocation from the Fund for a primary election to a 
        participating candidate in an amount equal to 67 percent of the 
        base amount with respect to such participating candidate.
            ``(2) Primary runoff election allocation.--The Commission 
        shall make an allocation from the Fund for a primary runoff 
        election to a participating candidate in an amount equal to 25 
        percent of the amount the participating candidate was eligible 
        to receive under this section for the primary election.
            ``(3) General election allocation.--Except as provided in 
        paragraph (5), the Commission shall make an allocation from the 
        Fund for a general election to a participating candidate in an 
        amount equal to the base amount with respect to such candidate.
            ``(4) General runoff election allocation.--The Commission 
        shall make an allocation from the Fund for a general runoff 
        election to a participating candidate in an amount equal to 25 
        percent of the base amount with respect to such candidate.
            ``(5) Uncontested elections.--
                    ``(A) In general.--In the case of a primary or 
                general election that is an uncontested election, the 
                Commission shall make an allocation from the Fund to a 
                participating candidate for such election in an amount 
                equal to 25 percent of the allocation which such 
                candidate would be entitled to under this section for 
                such election if this paragraph did not apply.
                    ``(B) Uncontested election defined.--For purposes 
                of this subparagraph, an election is uncontested if not 
                more than 1 candidate has campaign funds (including 
                payments from the Fund) in an amount equal to or 
                greater than 10 percent of the allocation a 
                participating candidate would be entitled to receive 
                under this section for such election if this paragraph 
                did not apply.
    ``(d) Base Amount.--
            ``(1) In general.--Except as otherwise provided in this 
        subsection, the base amount for any candidate is an amount 
        equal to the greater of--
                    ``(A) the sum of--
                            ``(i) $750,000; plus
                            ``(ii) $150,000 for each congressional 
                        district in the State with respect to which the 
                        candidate is seeking election; or
                    ``(B) the amount determined by the Commission under 
                section 531.
            ``(2) Indexing.--In each even-numbered year after 2025--
                    ``(A) each dollar amount under paragraph (1)(A) 
                shall be increased by the percent difference between 
                the price index (as defined in section 315(c)(2)(A)) 
                for the 12 months preceding the beginning of such 
                calendar year and the price index for calendar year 
                2022;
                    ``(B) each dollar amount so increased shall remain 
                in effect for the 2-year period beginning on the first 
                day following the date of the last general election in 
                the year preceding the year in which the amount is 
                increased and ending on the date of the next general 
                election; and
                    ``(C) if any amount after adjustment under 
                subparagraph (A) is not a multiple of $100, such amount 
                shall be rounded to the nearest multiple of $100.

``SEC. 523. MATCHING PAYMENTS FOR QUALIFIED SMALL DOLLAR CONTRIBUTIONS.

    ``(a) In General.--The Commission shall pay to each participating 
candidate an amount equal to 600 percent of the amount of qualified 
small dollar contributions received by the candidate from individuals 
who are residents of the State in which such participating candidate is 
seeking election after the date on which such candidate is certified 
under section 514.
    ``(b) Limitation.--The aggregate payments under subsection (a) with 
respect to any candidate shall not exceed the greater of--
            ``(1) 400 percent of the allocation such candidate is 
        entitled to receive for such election under section 522 
        (determined without regard to subsection (c)(5) thereof); or
            ``(2) the percentage of such allocation determined by the 
        Commission under section 531.
    ``(c) Time of Payment.--The Commission shall make payments under 
this section not later than 2 business days after the receipt of a 
report made under subsection (d).
    ``(d) Reports.--
            ``(1) In general.--Each participating candidate shall file 
        reports of receipts of qualified small dollar contributions at 
        such times and in such manner as the Commission may by 
        regulations prescribe.
            ``(2) Contents of reports.--Each report under this 
        subsection shall disclose--
                    ``(A) the amount of each qualified small dollar 
                contribution received by the candidate;
                    ``(B) the amount of each qualified small dollar 
                contribution received by the candidate from a resident 
                of the State in which the candidate is seeking 
                election; and
                    ``(C) the name, address, and occupation of each 
                individual who made a qualified small dollar 
                contribution to the candidate.
            ``(3) Frequency of reports.--Reports under this subsection 
        shall be made no more frequently than--
                    ``(A) once every month until the date that is 90 
                days before the date of the election;
                    ``(B) once every week after the period described in 
                subparagraph (A) and until the date that is 21 days 
                before the election; and
                    ``(C) once every day after the period described in 
                subparagraph (B).
            ``(4) Limitation on regulations.--The Commission may not 
        prescribe any regulations with respect to reporting under this 
        subsection with respect to any election after the date that is 
        180 days before the date of such election.
    ``(e) Appeals.--The Commission shall provide a written explanation 
with respect to any denial of any payment under this section and shall 
provide the opportunity for review and reconsideration within 5 
business days of such denial.

``SEC. 524. ENHANCED MATCHING SUPPORT.

    ``(a) In General.--In addition to the payments made under section 
523, the Commission shall make an additional payment to an eligible 
candidate under this section.
    ``(b) Eligibility.--A candidate is eligible to receive an 
additional payment under this section if the candidate meets each of 
the following requirements:
            ``(1) The candidate is on the ballot for the general 
        election for the office the candidate seeks.
            ``(2) The candidate is certified as a participating 
        candidate under this title with respect to the election.
            ``(3) During the enhanced support qualifying period, the 
        candidate receives qualified small dollar contributions in a 
        total amount of not less than the sum of $15,000 for each 
        congressional district in the State with respect to which the 
        candidate is seeking election.
            ``(4) During the enhanced support qualifying period, the 
        candidate submits to the Commission a request for the payment 
        which includes--
                    ``(A) a statement of the number and amount of 
                qualified small dollar contributions received by the 
                candidate during the enhanced support qualifying 
                period;
                    ``(B) a statement of the amount of the payment the 
                candidate anticipates receiving with respect to the 
                request; and
                    ``(C) such other information and assurances as the 
                Commission may require.
            ``(5) After submitting a request for the additional payment 
        under paragraph (4), the candidate does not submit any other 
        application for an additional payment under this title.
    ``(c) Amount.--
            ``(1) In general.--Subject to paragraph (2), the amount of 
        the additional payment made to an eligible candidate under this 
        subtitle shall be an amount equal to 50 percent of--
                    ``(A) the amount of the payment made to the 
                candidate under section 523 with respect to the 
                qualified small dollar contributions which are received 
                by the candidate during the enhanced support qualifying 
                period (as included in the request submitted by the 
                candidate under (b)(4)(A)); or
                    ``(B) in the case of a candidate who is not 
                eligible to receive a payment under section 523 with 
                respect to such qualified small dollar contributions 
                because the candidate has reached the limit on the 
                aggregate amount of payments under section 523, the 
                amount of the payment which would have been made to the 
                candidate under section 523 with respect to such 
                qualified small dollar contributions if the candidate 
                had not reached such limit.
            ``(2) Limit.--The amount of the additional payment 
        determined under paragraph (1) with respect to a candidate may 
        not exceed the sum of $150,000 for each congressional district 
        in the State with respect to which the candidate is seeking 
        election.
            ``(3) No effect on aggregate limit.--The amount of the 
        additional payment made to a candidate under this section shall 
        not be included in determining the aggregate amount of payments 
        made to a participating candidate with respect to an election 
        cycle under section 523.

``SEC. 525. POLITICAL ADVERTISING VOUCHERS.

    ``(a) In General.--The Commission shall establish and administer a 
voucher program for the purchase of airtime on broadcasting stations 
for political advertisements in accordance with the provisions of this 
section.
    ``(b) Candidates.--The Commission shall only disburse vouchers 
under the program established under subsection (a) to participants 
certified pursuant to section 514 who have agreed in writing to keep 
and furnish to the Commission such records, books, and other 
information as it may require.
    ``(c) Amounts.--The Commission shall disburse vouchers to each 
candidate certified under subsection (b) in an aggregate amount equal 
to the greater of--
            ``(1) $100,000 multiplied by the number of congressional 
        districts in the State with respect to which such candidate is 
        running for office; or
            ``(2) the amount determined by the Commission under section 
        531.
    ``(d) Use.--
            ``(1) Exclusive use.--Vouchers disbursed by the Commission 
        under this section may be used only for the purchase of 
        broadcast airtime for political advertisements relating to a 
        general election for the office of Senate by the participating 
        candidate to which the vouchers were disbursed, except that--
                    ``(A) a candidate may exchange vouchers with a 
                political party under paragraph (2); and
                    ``(B) a political party may use vouchers only to 
                purchase broadcast airtime for political advertisements 
                for generic party advertising (as defined by the 
                Commission in regulations), to support candidates for 
                State or local office in a general election, or to 
                support participating candidates of the party in a 
                general election for Federal office, but only if it 
                discloses the value of the voucher used as an 
                expenditure under section 315(d).
            ``(2) Exchange with political party committee.--
                    ``(A) In general.--A participating candidate who 
                receives a voucher under this section may transfer the 
                right to use all or a portion of the value of the 
                voucher to a committee of the political party of which 
                the individual is a candidate (or, in the case of a 
                participating candidate who is not a member of any 
                political party, to a committee of the political party 
                of that candidate's choice) in exchange for money in an 
                amount equal to the cash value of the voucher or 
                portion exchanged.
                    ``(B) Continuation of candidate obligations.--The 
                transfer of a voucher, in whole or in part, to a 
                political party committee under this paragraph does not 
                release the candidate from any obligation under the 
                agreement made under subsection (b) or otherwise modify 
                that agreement or its application to that candidate.
                    ``(C) Party committee obligations.--Any political 
                party committee to which a voucher or portion thereof 
                is transferred under subparagraph (A)--
                            ``(i) shall account fully, in accordance 
                        with such requirements as the Commission may 
                        establish, for the receipt of the voucher; and
                            ``(ii) may not use the transferred voucher 
                        or portion thereof for any purpose other than a 
                        purpose described in paragraph (1)(B).
                    ``(D) Voucher as a contribution under feca.--If a 
                candidate transfers a voucher or any portion thereof to 
                a political party committee under subparagraph (A)--
                            ``(i) the value of the voucher or portion 
                        thereof transferred shall be treated as a 
                        contribution from the candidate to the 
                        committee, and from the committee to the 
                        candidate, for purposes of sections 302 and 
                        304;
                            ``(ii) the committee may, in exchange, 
                        provide to the candidate only funds subject to 
                        the prohibitions, limitations, and reporting 
                        requirements of title III of this Act; and
                            ``(iii) the amount, if identified as a 
                        `voucher exchange', shall not be considered a 
                        contribution for the purposes of sections 315 
                        and 513.
    ``(e) Value; Acceptance; Redemption.--
            ``(1) Voucher.--Each voucher disbursed by the Commission 
        under this section shall have a value in dollars, redeemable 
        upon presentation to the Commission, together with such 
        documentation and other information as the Commission may 
        require, for the purchase of broadcast airtime for political 
        advertisements in accordance with this section.
            ``(2) Acceptance.--A broadcasting station shall accept 
        vouchers in payment for the purchase of broadcast airtime for 
        political advertisements in accordance with this section.
            ``(3) Redemption.--The Commission shall redeem vouchers 
        accepted by broadcasting stations under paragraph (2) upon 
        presentation, subject to such documentation, verification, 
        accounting, and application requirements as the Commission may 
        impose to ensure the accuracy and integrity of the voucher 
        redemption system.
            ``(4) Expiration.--
                    ``(A) Candidates.--A voucher may only be used to 
                pay for broadcast airtime for political advertisements 
                to be broadcast before midnight on the day before the 
                date of the Federal election in connection with which 
                it was issued and shall be null and void for any other 
                use or purpose.
                    ``(B) Exception for political party committees.--A 
                voucher held by a political party committee may be used 
                to pay for broadcast airtime for political 
                advertisements to be broadcast before midnight on 
                December 31st of the odd-numbered year following the 
                year in which the voucher was issued by the Commission.
            ``(5) Voucher as expenditure under feca.--The use of a 
        voucher to purchase broadcast airtime constitutes an 
        expenditure as defined in section 301(9)(A).
    ``(f) Definitions.--In this section:
            ``(1) Broadcasting station.--The term `broadcasting 
        station' has the meaning given that term by section 315(f)(1) 
        of the Communications Act of 1934.
            ``(2) Political party.--The term `political party' means a 
        major party or a minor party as defined in section 9002 (3) or 
        (4) of the Internal Revenue Code of 1986 (26 U.S.C. 9002 (3) or 
        (4)).

                ``Subtitle D--Administrative Provisions

``SEC. 531. DUTIES OF THE FEDERAL ELECTION COMMISSION.

    ``(a) Duties and Powers.--
            ``(1) Administration.--The Commission shall have the power 
        to administer the provisions of this title and shall prescribe 
        regulations to carry out the purposes of this title, including 
        regulations--
                    ``(A) to establish procedures for--
                            ``(i) verifying the amount of valid 
                        qualifying contributions with respect to a 
                        candidate;
                            ``(ii) effectively and efficiently 
                        monitoring and enforcing the limits on the 
                        raising of qualified small dollar 
                        contributions;
                            ``(iii) monitoring the raising of 
                        qualifying multicandidate political committee 
                        contributions through effectively and 
                        efficiently monitoring and enforcing the limits 
                        on individual contributions to qualified 
                        accounts of multicandidate political 
                        committees;
                            ``(iv) effectively and efficiently 
                        monitoring and enforcing the limits on the use 
                        of personal funds by participating candidates;
                            ``(v) monitoring the use of allocations 
                        from the Fund and matching contributions under 
                        this title through audits or other mechanisms; 
                        and
                            ``(vi) the administration of the voucher 
                        program under section 525; and
                    ``(B) regarding the conduct of debates in a manner 
                consistent with the best practices of States that 
                provide public financing for elections.
            ``(2) Review of fair elections financing.--
                    ``(A) In general.--After each general election for 
                Federal office, the Commission shall conduct a 
                comprehensive review of the Fair Elections financing 
                program under this title, including--
                            ``(i) the maximum dollar amount of 
                        qualified small dollar contributions under 
                        section 501(13);
                            ``(ii) the maximum and minimum dollar 
                        amounts for qualifying contributions under 
                        section 501(12);
                            ``(iii) the number and value of qualifying 
                        contributions a candidate is required to obtain 
                        under section 512 to qualify for allocations 
                        from the Fund;
                            ``(iv) the amount of allocations from the 
                        Fund that candidates may receive under section 
                        522;
                            ``(v) the maximum amount of matching 
                        contributions a candidate may receive under 
                        section 523;
                            ``(vi) the maximum amount of enhanced 
                        matching contributions a candidate may receive 
                        under section 524;
                            ``(vii) the amount and usage of vouchers 
                        under section 525;
                            ``(viii) the overall satisfaction of 
                        participating candidates and the American 
                        public with the program; and
                            ``(ix) such other matters relating to 
                        financing of Senate campaigns as the Commission 
                        determines are appropriate.
                    ``(B) Criteria for review.--In conducting the 
                review under subparagraph (A), the Commission shall 
                consider the following:
                            ``(i) Qualifying contributions and 
                        qualified small dollar contributions.--The 
                        Commission shall consider whether the number 
                        and dollar amount of qualifying contributions 
                        required and maximum dollar amount for such 
                        qualifying contributions and qualified small 
                        dollar contributions strikes a balance 
                        regarding the importance of voter involvement, 
                        the need to assure adequate incentives for 
                        participating, and fiscal responsibility, 
                        taking into consideration the number of primary 
                        and general election participating candidates, 
                        the electoral performance of those candidates, 
                        program cost, and any other information the 
                        Commission determines is appropriate.
                            ``(ii) Review of program benefits.--The 
                        Commission shall consider whether the totality 
                        of the amount of funds allowed to be raised by 
                        participating candidates (including through 
                        qualifying contributions and small dollar 
                        contributions), allocations from the Fund under 
                        section 522, matching contributions under 
                        section 523, enhanced matching contributions 
                        under section 524, and vouchers under section 
                        525 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 election dates, and any other 
                        information the Commission determines is 
                        appropriate.
                    ``(C) Adjustment of amounts.--
                            ``(i) In general.--Based on the review 
                        conducted under subparagraph (A), the 
                        Commission shall provide for the adjustments of 
                        the following amounts:
                                    ``(I) The maximum dollar amount of 
                                qualified small dollar contributions 
                                under section 501(13)(C).
                                    ``(II) The maximum and minimum 
                                dollar amounts for qualifying 
                                contributions under section 501(12)(A).
                                    ``(III) The number and value of 
                                qualifying contributions a candidate is 
                                required to obtain under section 
                                512(a)(1).
                                    ``(IV) The base amount for 
                                candidates under section 522(d).
                                    ``(V) The maximum amount of 
                                matching contributions a candidate may 
                                receive under section 523(b).
                                    ``(VI) The maximum amount of 
                                enhanced matching contributions a 
                                candidate may receive under section 
                                524(c).
                                    ``(VII) The dollar amount for 
                                vouchers under section 525(c).
                            ``(ii) Regulations.--The Commission shall 
                        promulgate regulations providing for the 
                        adjustments made under clause (i).
                    ``(D) Report.--Not later than March 30 following 
                any general election for Federal office, the Commission 
                shall submit a report to Congress on the review 
                conducted under subparagraph (A). Such report shall 
                contain a detailed statement of the findings, 
                conclusions, and recommendations of the Commission 
                based on such review.
    ``(b) Reports.--Not later than March 30, 2024, and every 2 years 
thereafter, the Commission shall submit to the Senate Committee on 
Rules and Administration a report documenting, evaluating, and making 
recommendations relating to the administrative implementation and 
enforcement of the provisions of this title.
    ``(c) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as are necessary to carry out the purposes of 
this subtitle.

``SEC. 532. VIOLATIONS AND PENALTIES.

    ``(a) Civil Penalty for Violation of Contribution and Expenditure 
Requirements.--If a candidate who has been certified as a participating 
candidate under section 514 accepts a contribution or makes an 
expenditure that is prohibited under section 513, the Commission shall 
assess a civil penalty against the candidate in an amount that is not 
more than 3 times the amount of the contribution or expenditure. Any 
amounts collected under this subsection shall be deposited into the 
Fund.
    ``(b) Repayment for Improper Use of Fair Elections Fund.--
            ``(1) In general.--If the Commission determines that any 
        benefit made available to a participating candidate under this 
        title was not used as provided for in this title or that a 
        participating candidate has violated any of the dates for 
        remission of funds contained in this title, the Commission 
        shall so notify the candidate and the candidate shall pay to 
        the Fund an amount equal to--
                    ``(A) the amount of benefits so used or not 
                remitted, as appropriate; and
                    ``(B) interest on any such amounts (at a rate 
                determined by the Commission).
            ``(2) Other action not precluded.--Any action by the 
        Commission in accordance with this subsection shall not 
        preclude enforcement proceedings by the Commission in 
        accordance with section 309(a), including a referral by the 
        Commission to the Attorney General in the case of an apparent 
        knowing and willful violation of this title.''.

SEC. 102. PROHIBITION ON JOINT FUNDRAISING COMMITTEES.

    Section 302(e) of the Federal Election Campaign Act of 1971 (52 
U.S.C. 30102(e)) is amended by adding at the end the following new 
paragraph:
            ``(6) No authorized committee of a participating candidate 
        (as defined in section 501) may establish a joint fundraising 
        committee with a political committee other than an authorized 
        committee of a candidate.''.

SEC. 103. EXCEPTION TO LIMITATION ON COORDINATED EXPENDITURES BY 
              POLITICAL PARTY COMMITTEES WITH PARTICIPATING CANDIDATES.

    Section 315(d) of the Federal Election Campaign Act of 1971 (52 
U.S.C. 30116(d)) is amended--
            (1) in paragraph (3)(A), by striking ``in the case of'' and 
        inserting ``except as provided in paragraph (6), in the case 
        of''; and
            (2) by adding at the end the following new paragraph:
            ``(6)(A) The limitation under paragraph (3)(A) shall not 
        apply with respect to any expenditure from a qualified 
        political party-participating candidate coordinated expenditure 
        fund.
            ``(B) In this paragraph, the term `qualified political 
        party-participating candidate coordinated expenditure fund' 
        means a fund established by the national committee of a 
        political party, or a State committee of a political party, 
        including any subordinate committee of a State committee, for 
        purposes of making expenditures in connection with the general 
        election campaign of a candidate for election to the office of 
        Senator who is a participating candidate (as defined in section 
        501), that only accepts qualified coordinated expenditure 
        contributions.
            ``(C) In this paragraph, the term `qualified coordinated 
        expenditure contribution' means, with respect to the general 
        election campaign of a candidate for election to the office of 
        Senator who is a participating candidate (as defined in section 
        501), any contribution (or series of contributions)--
                    ``(i) which is made by an individual who is not 
                prohibited from making a contribution under this Act; 
                and
                    ``(ii) the aggregate amount of which does not 
                exceed $500 per election.''.

                 TITLE II--IMPROVING VOTER INFORMATION

SEC. 201. BROADCASTS RELATING TO ALL SENATE CANDIDATES.

    (a) Lowest Unit Charge; National Committees.--Section 315(b)(1) of 
the Communications Act of 1934 (47 U.S.C. 315(b)(1)) is amended--
            (1) in the matter preceding subparagraph (A), by striking 
        ``to such office'' and inserting the following: ``to such 
        office, or by a national committee of a political party on 
        behalf of such candidate in connection with such campaign,''; 
        and
            (2) in subparagraph (A), by inserting ``for preemptible use 
        thereof'' after ``station''.
    (b) Preemption; Audits.--Section 315 of the Communications Act of 
1934 (47 U.S.C. 315) is amended--
            (1) by redesignating subsections (c) and (d) as subsections 
        (f) and (g), respectively and moving them to follow the 
        existing subsection (e);
            (2) by redesignating the existing subsection (e) as 
        subsection (c); and
            (3) by inserting after subsection (c) (as redesignated by 
        paragraph (2)) the following:
    ``(d) Preemption.--
            ``(1) In general.--Except as provided in paragraph (2), and 
        notwithstanding the requirements of subsection (b)(1)(A), a 
        licensee shall not preempt the use of a broadcasting station by 
        a legally qualified candidate for Senate who has purchased and 
        paid for such use.
            ``(2) Circumstances beyond control of licensee.--If a 
        program to be broadcast by a broadcasting station is preempted 
        because of circumstances beyond the control of the station, any 
        candidate or party advertising spot scheduled to be broadcast 
        during that program shall be treated in the same fashion as a 
        comparable commercial advertising spot.
    ``(e) Audits.--During the 30-day period preceding a primary or 
primary runoff election and the 60-day period preceding a general or 
special election, the Commission shall conduct such audits as it deems 
necessary to ensure that each licensee to which this section applies is 
allocating television broadcast advertising time in accordance with 
this section and section 312.''.
    (c) Revocation of License for Failure To Permit Access.--Section 
312(a)(7) of the Communications Act of 1934 (47 U.S.C. 312(a)(7)) is 
amended--
            (1) by striking ``or repeated'';
            (2) by inserting ``or cable system'' after ``broadcasting 
        station''; and
            (3) by striking ``his candidacy'' and inserting ``the 
        candidacy of the candidate, under the same terms, conditions, 
        and business practices as apply to the most favored advertiser 
        of the licensee''.
    (d) Technical and Conforming Amendments.--Section 315 of the 
Communications Act of 1934 (47 U.S.C. 315) is amended--
            (1) in subsection (f), as redesignated by subsection 
        (b)(1)--
                    (A) in the matter preceding paragraph (1), by 
                striking ``For purposes of this section--'' and 
                inserting the following: ``Definitions.--For purposes 
                of this section:'';
                    (B) in paragraph (1)--
                            (i) by striking ``the term'' and inserting 
                        ``Broadcasting station.--The term''; and
                            (ii) by striking ``; and'' and inserting a 
                        period; and
                    (C) in paragraph (2), by striking ``the terms'' and 
                inserting ``Licensee; station licensee.--The terms''; 
                and
            (2) in subsection (g), as redesignated by subsection 
        (b)(1), by striking ``The Commission'' and inserting 
        ``Regulations.--The Commission''.

SEC. 202. BROADCAST RATES FOR PARTICIPATING CANDIDATES.

    Section 315(b) of the Communications Act of 1934 (47 U.S.C. 
315(b)), as amended by section 201, is amended--
            (1) in paragraph (1)(A), by striking ``paragraph (2)'' and 
        inserting ``paragraphs (2) and (3)''; and
            (2) by adding at the end the following:
            ``(3) Participating candidates.--In the case of a 
        participating candidate (as defined in section 501 of the 
        Federal Election Campaign Act of 1971), the charges made for 
        the use of any broadcasting station for a television broadcast 
        shall not exceed 80 percent of the lowest charge described in 
        paragraph (1)(A) during--
                    ``(A) the 45 days preceding the date of a primary 
                or primary runoff election in which the candidate is 
                opposed; and
                    ``(B) the 60 days preceding the date of a general 
                or special election in which the candidate is opposed.
            ``(4) Rate cards.--A licensee shall provide to a candidate 
        for Senate a rate card that discloses--
                    ``(A) the rate charged under this subsection; and
                    ``(B) the method that the licensee uses to 
                determine the rate charged under this subsection.''.

SEC. 203. FCC TO PRESCRIBE STANDARDIZED FORM FOR REPORTING CANDIDATE 
              CAMPAIGN ADS.

    (a) In General.--Not later than 90 days after the date of enactment 
of this Act, the Federal Communications Commission shall initiate a 
rulemaking proceeding to establish a standardized form to be used by 
each broadcasting station, as defined in section 315(f) of the 
Communications Act of 1934 (47 U.S.C. 315(f)) (as redesignated by 
section 201(b)(1)), to record and report the purchase of advertising 
time by or on behalf of a candidate for nomination for election, or for 
election, to Federal elective office.
    (b) Contents.--The form prescribed by the Federal Communications 
Commission under subsection (a) shall require a broadcasting station to 
report to the Federal Communications Commission and to the Federal 
Election Commission, at a minimum--
            (1) the station call letters and mailing address;
            (2) the name and telephone number of the station's sales 
        manager (or individual with responsibility for advertising 
        sales);
            (3) the name of the candidate who purchased the advertising 
        time, or on whose behalf the advertising time was purchased, 
        and the Federal elective office for which he or she is a 
        candidate;
            (4) the name, mailing address, and telephone number of the 
        person responsible for purchasing broadcast political 
        advertising for the candidate;
            (5) notation as to whether the purchase agreement for which 
        the information is being reported is a draft or final version; 
        and
            (6) with respect to the advertisement--
                    (A) the date and time of the broadcast;
                    (B) the program in which the advertisement was 
                broadcast; and
                    (C) the length of the broadcast airtime.
    (c) Internet Access.--In its rulemaking under subsection (a), the 
Federal Communications Commission shall require any broadcasting 
station required to file a report under this section that maintains an 
internet website to make available a link to each such report on that 
website.

     TITLE III--RESPONSIBILITIES OF THE FEDERAL ELECTION COMMISSION

SEC. 301. PETITION FOR CERTIORARI.

    Section 307(a)(6) of the Federal Election Campaign Act of 1971 (52 
U.S.C. 30107(a)(6)) is amended by inserting ``(including a proceeding 
before the Supreme Court on certiorari)'' after ``appeal''.

SEC. 302. ELECTRONIC FILING OF FEC REPORTS.

    Section 304(a)(11) of the Federal Election Campaign Act of 1971 (52 
U.S.C. 30104(a)(11)) is amended--
            (1) in subparagraph (A), by striking ``under this Act--'' 
        and all that follows and inserting ``under this Act shall be 
        required to maintain and file such designation, statement, or 
        report in electronic form accessible by computers.'';
            (2) in subparagraph (B), by striking ``48 hours'' and all 
        that follows through ``filed electronically)'' and inserting 
        ``24 hours''; and
            (3) by striking subparagraph (D).

                      TITLE IV--REVENUE PROVISIONS

SEC. 401. FAIR ELECTIONS FUND REVENUE.

    (a) In General.--The Internal Revenue Code of 1986 is amended by 
inserting after chapter 36 the following new chapter:

 ``CHAPTER 37--TAX ON PAYMENTS PURSUANT TO CERTAIN GOVERNMENT CONTRACTS

``Sec. 4501. Imposition of tax.

``SEC. 4501. IMPOSITION OF TAX.

    ``(a) Tax Imposed.--There is hereby imposed on any payment made to 
a qualified person pursuant to a contract with the Government of the 
United States a tax equal to 0.50 percent of the amount paid.
    ``(b) Limitation.--The aggregate amount of tax imposed per contract 
under subsection (a) for any calendar year shall not exceed $500,000.
    ``(c) Qualified Person.--For purposes of this section, the term 
`qualified person' means any person which--
            ``(1) is not a State or local government, a foreign nation, 
        or an organization described in section 501(c)(3) which is 
        exempt from taxation under section 501(a), and
            ``(2) has a contract with the Government of the United 
        States with a value in excess of $10,000,000.
    ``(d) Payment of Tax.--The tax imposed by this section shall be 
paid by the person receiving such payment.
    ``(e) Use of Revenue Generated by Tax.--It is the sense of the 
Senate that amounts equivalent to the revenue generated by the tax 
imposed under this chapter should be appropriated for the financing of 
a Fair Elections Fund and used for the public financing of Senate 
elections.''.
    (b) Conforming Amendment.--The table of chapters of the Internal 
Revenue Code of 1986 is amended by inserting after the item relating to 
chapter 36 the following:

     ``Chapter 37--Tax on Payments Pursuant to Certain Government 
                              Contracts''.

    (c) Effective Date.--The amendments made by this section shall 
apply to contracts entered into after the date of the enactment of this 
Act.

                   TITLE V--MISCELLANEOUS PROVISIONS

SEC. 501. SEVERABILITY.

    If any provision of this Act or amendment made by this Act, or the 
application of a provision or amendment to any person or circumstance, 
is held to be unconstitutional, the remainder of this Act and 
amendments made by this Act, and the application of the provisions and 
amendment to any person or circumstance, shall not be affected by the 
holding.

SEC. 502. EFFECTIVE DATE.

    (a) In General.--Except as may otherwise be provided in this Act 
and in the amendments made by this Act, this Act and the amendments 
made by this Act shall apply with respect to elections occurring during 
2026 or any succeeding year, without regard to whether or not the 
Federal Election Commission has promulgated the final regulations 
necessary to carry out this Act and the amendments made by this Act by 
the deadline set forth in subsection (b).
    (b) Deadline for Regulations.--Not later than June 30, 2024, the 
Federal Election Commission shall promulgate such regulations as may be 
necessary to carry out this Act and the amendments made by this Act.
                                 <all>