In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as ``State Business Law Conformity Act of 
2004''.

SEC. 2. REFERENCES TO GENERAL PARTNERS.

    (a) Exclusion of Certain Active Businesses From at Risk Rules.--
Subclause (I) of section 465(c)(7)(D)(ii) of the Internal Revenue Code 
of 1986 (defining qualified corporate partner) is amended to read as 
follows:
                                    ``(I) such corporation is not 
                                prohibited or limited under State law 
                                from participation in the management or 
                                business of the partnership.''.
    (b) Payments to Retiring Partners.--Subparagraph (B) of section 
736(b)(3) of such Code (relating to limitation on application of 
paragraph (2)) is amended to read as follows:
                    ``(B) any portion of the retiring or deceased 
                partner's distributive share of partnership income was 
                subject to tax under section 1401.''.
    (c) Foreign Currency Transactions.--Subclause (I) of section 
988(c)(1)(E)(v) of such Code is amended to read as follows:
                                    ``(I) Certain general partners.--
                                The interest of a partner in the 
                                partnership shall not be treated as 
                                failing to meet the 20-percent 
                                ownership requirements of clause 
                                (iii)(I) for any taxable year of the 
                                partnership if for the taxable year of 
                                the partner in which such partnership 
                                taxable year ends--
                                            ``(aa) the partner is not 
                                        limited as to participation in 
                                        the management or activity of 
                                        the qualified fund, and
                                            ``(bb) such partner (and 
                                        each corporation filing a 
                                        consolidated return with such 
                                        partner) had no ordinary income 
                                        or loss from a section 988 
                                        transaction which is foreign 
                                        currency gain or loss (as the 
                                        case may be).''.
    (d) Special Valuation Rules for Generation-Skipping Tax.--Clause 
(ii) of section 2701(b)(2)(B) of such Code (relating to partnerships) 
is amended to read as follows:
                            ``(ii) in the case of a limited 
                        partnership, the holding of any interest as a 
                        partner who is not limited as to participation 
                        in management or activity of the 
                        partnership.''.
    (e) Tax Matters Partner.--Paragraph (7) of section 6231(a) of such 
Code (defining tax matters partner) is amended to read as follows:
            ``(7) Tax matters partner.--
                    ``(A) In general.--The tax matters partner of any 
                partnership is--
                            ``(i) the partner designated as the tax 
                        matters partner as provided in regulations, or
                            ``(ii) if there is no partner who has been 
                        so designated, the partner having the largest 
                        profits interest in the partnership at the 
                        close of the taxable year involved (or, where 
                        there is more than 1 such partner, the 1 of 
                        such partners whose name would appear first in 
                        an alphabetical listing).
                    ``(B) Selection by secretary.--If there is no 
                partner designated under subparagraph (A)(i) and the 
                Secretary determines that it is impracticable to apply 
                subparagraph (A)(ii), the partner selected by the 
                Secretary shall be treated as the tax matters partner. 
                The Secretary shall, within 30 days of selecting a tax 
                matters partner under the preceding sentence, notify 
                all partners required to receive notice under section 
                6223(a) of the name and address of the person selected.
                    ``(C) Restriction on designation of partner.--A 
                partner may not be designated as a tax matters partner 
                under subparagraph (A)(i) unless such partner is not 
                limited as to participation in management or activity 
                of the partnership.''.
    (f) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2004.

SEC. 3. REFERENCES TO LIMITED PARTNERS.

    (a) Limited Entrepreneur.--
            (1) In general.--Subparagraph (A) of section 464(e)(2) of 
        the Internal Revenue Code of 1986 (defining limited 
        entrepreneur) is amended by striking ``other than as a limited 
        partner''.
            (2) Conforming amendments.--
                    (A) Section 464(c) of such Code is amended--
                            (i) by striking ``limited partners or'' in 
                        paragraph (1)(B),
                            (ii) by striking ``a limited partner or'' 
                        in paragraph (2).
                    (B) Section 1256 of such Code is amended--
                            (i) by striking ``limited partners or'' 
                        each place it appears in subsections (e)(3)(B) 
                        and (f)(4),
                            (ii) by striking ``a limited partner or'' 
                        in subsection (e)(3)(C), and
                            (iii) by striking ``limited partner or'' 
                        both places it appears in the heading and text 
                        of subsection (e)(4)(A)(i).
                    (C) Section 1258(d)(5)(C) of such Code is amended--
                            (i) by striking ``limited partner or'' in 
                        the matter preceding subclause (i),
                            (ii) by striking ``limited partner's (or 
                        limited entrepreneur's) in subclause (i) and 
                        inserting ``limited entrepreneur's'', and
                            (iii) by striking ``partners and limited'' 
                        in the heading.
    (b) Passive Loss Rules.--
            (1) Subsection (h) of section 469 of such Code is amended 
        by striking paragraph (2) and by redesignating paragraphs (3), 
        (4), and (5) as paragraphs (2), (3), and (4), respectively.
            (2) Subparagraph (A) of section 469(c)(7) of such Code is 
        amended by striking the last sentence.
            (3) Paragraph (6) of section 469(i) of such Code is amended 
        by striking subparagraph (C) and by redesignating subparagraph 
        (D) as subparagraph (C).
            (4) Subsection (f) of section 772 of such Code (relating to 
        special rules for applying passive loss limitations) is amended 
        to read as follows:
    ``(f) Special Rules for Applying Passive Loss Limitations.--
            ``(1) In general.--If any person holds an interest in an 
        electing large partnership other than as a partner described in 
        paragraph (3)--
                    ``(A) paragraph (2) of subsection (c) shall not 
                apply to such partner, and
                    ``(B) such partner's distributive share of the 
                partnership items allocable to passive loss limitation 
                activities shall be taken into account separately to 
                the extent necessary to comply with the provisions of 
                section 469.
            ``(2) Exception.--Paragraph (1) shall not apply to any 
        items allocable to an interest held as a partner described in 
        paragraph (3).
            ``(3) Partner described.--For purposes of this subsection, 
        a partner is described in this paragraph if the partner is a 
        person whose participation in the management or business 
        activity of the partnership is limited under applicable State 
        law.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2004.

SEC. 4. PARTNERSHIP INCOME ATTRIBUTABLE TO CAPITAL EXCLUDED FROM NET 
              EARNINGS FROM SELF-EMPLOYMENT.

    (a) In General.--Paragraph (13) of section 1402(a) of the Internal 
Revenue Code of 1986 is amended to read as follows:
            ``(13) there shall be excluded the distributive share of 
        net income of a partner attributable to capital;''.
    (b) Partnership Income Attributable to Capital.--Section 1402 of 
such Code is amended by adding at the end the following new subsection:
    ``(l) Partnership Income Attributable to Capital.--
            ``(1) In general.--For purposes of subsection (a)(13), the 
        following amounts shall be treated as income attributable to 
        capital--
                    ``(A) the amount, if any, in excess of what would 
                constitute reasonable compensation for services 
                rendered by such partner to the partnership, and
                    ``(B) an amount equal to a reasonable rate of 
                return on unreturned capital of the partner determined 
                as of the beginning of the taxable year.
            ``(2) Definitions.--For purposes of paragraph (1)--
                    ``(A) Unreturned capital.--The term `unreturned 
                capital' means the excess of the aggregate amount of 
                money and the fair market value as of the date of 
                contribution of other consideration (net of 
                liabilities) contributed by the partner over the 
                aggregate amount of money and the fair market value as 
                of the date of distribution of other consideration (net 
                of liabilities) distributed by the partnership to the 
                partner, increased or decreased for the partner's 
                distributive share of all reportable items as 
                determined in section 702. If the partner acquires a 
                partnership interest and the partnership makes an 
                election under section 754, the partner's unreturned 
                capital shall take into account appropriate adjustments 
                under section 743.
                    ``(B) Reasonable rate of return.--A reasonable rate 
                of return on unreturned capital shall equal 150 percent 
                (or such higher rate as is established in regulations) 
                of the highest applicable Federal rate, as determined 
                under section 1274(d)(1), at the beginning of the 
                partnership's taxable year.
            ``(3) Regulations.--The Secretary shall prescribe such 
        regulations as may be necessary to carry out the purposes of 
        this subsection.''.
    (c) Effective Date.--The amendments made by this section shall 
apply with respect to services performed in taxable years beginning 
after December 31, 2004.

SEC. 5. REPEAL OF ABILITY TO ELECT LARGE PARTNERSHIP REPORTING RULES.

    (a) In General.--Paragraph (2) of section 775(a) of the Internal 
Revenue Code of 1986 (relating to election) is amended by adding at the 
end the following: ``No election under this subsection shall be made 
after December 31, 2004.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to partnership taxable years beginning after December 31, 2004.
Example Output: State Business Law Conformity Act of 2004 - Amends the Internal Revenue Code to: (1) revise certain partnership tax definitions and rules relating to general and limited partners; (2) exclude from net earnings from self-employment partnership income attributable to capital; and (3) repeal, after 2004, the election to apply large partnership (100 partners or more) tax rules.

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Health Tax Credit 
Act''.

SEC. 2. SMALL BUSINESS TAX CREDIT FOR 50 PERCENT OF HEALTH PREMIUMS.

    (a) In General.--Subpart D of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 (relating to business-related 
credits) is amended by adding at the end the following:

``SEC. 45G. EMPLOYEE HEALTH INSURANCE EXPENSES.

    ``(a) General Rule.--For purposes of section 38, in the case of a 
qualified small employer, the employee health insurance expenses credit 
determined under this section is an amount equal to the applicable 
percentage of the amount paid by the taxpayer during the taxable year 
for qualified employee health insurance expenses.
    ``(b) Applicable Percentage.--For purposes of subsection (a), the 
applicable percentage is equal to--
            ``(1) 50 percent in the case of an employer with less than 
        26 qualified employees,
            ``(2) 40 percent in the case of an employer with more than 
        25 but less than 36 qualified employees, and
            ``(3) 30 percent in the case of an employer with more than 
        35 but less than 51 qualified employees.
    ``(c) Per Employee Dollar Limitation.--The amount of qualified 
employee health insurance expenses taken into account under subsection 
(a) with respect to any qualified employee for any taxable year shall 
not exceed the maximum employer contribution for self-only coverage or 
family coverage (as applicable) determined under section 8906(a) of 
title 5, United States Code, for the calendar year in which such 
taxable year begins.
    ``(d) Definitions and Special Rules.--For purposes of this 
section--
            ``(1) Qualified small employer.--
                    ``(A) In general.--The term `qualified small 
                employer' means any small employer which provides 
                eligibility for health insurance coverage (after any 
                waiting period (as defined in section 9801(b)(4))) to 
                all qualified employees of the employer.
                    ``(B) Small employer.--
                            ``(i) In general.--For purposes of this 
                        paragraph, the term `small employer' means, 
                        with respect to any calendar year, any employer 
                        if such employer employed an average of not 
                        less than 2 and not more than 50 qualified 
                        employees on business days during either of the 
                        2 preceding calendar years. For purposes of the 
                        preceding sentence, a preceding calendar year 
                        may be taken into account only if the employer 
                        was in existence throughout such year.
                            ``(ii) Employers not in existence in 
                        preceding year.--In the case of an employer 
                        which was not in existence throughout the 1st 
                        preceding calendar year, the determination 
                        under clause (i) shall be based on the average 
                        number of qualified employees that it is 
                        reasonably expected such employer will employ 
                        on business days in the current calendar year.
            ``(2) Qualified employee health insurance expenses.--
                    ``(A) In general.--The term `qualified employee 
                health insurance expenses' means any amount paid by an 
                employer for health insurance coverage to the extent 
                such amount is attributable to coverage provided to any 
                employee while such employee is a qualified employee.
                    ``(B) Exception for amounts paid under salary 
                reduction arrangements.--No amount paid or incurred for 
                health insurance coverage pursuant to a salary 
                reduction arrangement shall be taken into account under 
                subparagraph (A).
                    ``(C) Health insurance coverage.--The term `health 
                insurance coverage' has the meaning given such term by 
                paragraph (1) of section 9832(b) (determined by 
                disregarding the last sentence of paragraph (2) of such 
                section).
            ``(3) Qualified employee.--The term `qualified employee' 
        means an employee of an employer who, with respect to any 
period, is not provided health insurance coverage under--
                    ``(A) a health plan of the employee's spouse,
                    ``(B) title XVIII, XIX, or XXI of the Social 
                Security Act,
                    ``(C) chapter 17 of title 38, United States Code,
                    ``(D) chapter 55 of title 10, United States Code,
                    ``(E) chapter 89 of title 5, United States Code, or
                    ``(F) any other provision of law.
            ``(4) Employee--The term `employee'--
                    ``(A) means any individual, with respect to any 
                calendar year, who is reasonably expected to receive at 
                least $5,000 of compensation from the employer during 
                such year,
                    ``(B) does not include an employee within the 
                meaning of section 401(c)(1), and
                    ``(C) includes a leased employee within the meaning 
                of section 414(n).
            ``(5) Compensation.--The term `compensation' means amounts 
        described in section 6051(a)(3).
    ``(e) Certain Rules Made Applicable.--For purposes of this section, 
rules similar to the rules of section 52 shall apply.
    ``(f) Denial of Double Benefit.--No deduction or credit under any 
other provision of this chapter shall be allowed with respect to 
qualified employee health insurance expenses taken into account under 
subsection (a).''.
    (b) Credit To Be Part of General Business Credit.--Section 38(b) of 
the Internal Revenue Code of 1986 (relating to current year business 
credit) is amended by striking ``plus'' at the end of paragraph (14), 
by striking the period at the end of paragraph (15) and inserting ``, 
plus'', and by adding at the end the following:
            ``(16) the employee health insurance expenses credit 
        determined under section 45G.''.
    (c) Credit Allowed Against Minimum Tax.--
            (1) In general.--Subsection (c) of section 38 of the 
        Internal Revenue Code of 1986 (relating to limitation based on 
        amount of tax) is amended by redesignating paragraph (4) as 
        paragraph (5) and by inserting after paragraph (3) the 
        following new paragraph:
            ``(4) Special rules for employee health insurance credit.--
                    ``(A) In general.--In the case of the employee 
                health insurance credit--
                            ``(i) this section and section 39 shall be 
                        applied separately with respect to the credit, 
                        and
                            ``(ii) in applying paragraph (1) to the 
                        credit--
                                    ``(I) the amounts in subparagraphs 
                                (A) and (B) thereof shall be treated as 
                                being zero, and
                                    ``(II) the limitation under 
                                paragraph (1) (as modified by subclause 
                                (I)) shall be reduced by the credit 
                                allowed under subsection (a) for the 
                                taxable year (other than the employee 
                                health insurance credit).
                    ``(B) Employee health insurance credit.--For 
                purposes of this subsection, the term `employee health 
                insurance credit' means the credit allowable under 
                subsection (a) by reason of section 45G(a).''.
            (2) Conforming amendments.--
                    (A) Subclause (II) of section 38(c)(2)(A)(ii) of 
                such Code is amended by inserting ``or the employee 
                health insurance credit'' after ``employee credit''.
                    (B) Subclause (II) of section 38(c)(3)(A)(ii) of 
                such Code is amended by inserting ``or the employee 
                health insurance credit'' after ``employee credit''.
    (d) No Carrybacks.--Subsection (d) of section 39 of the Internal 
Revenue Code of 1986 (relating to carryback and carryforward of unused 
credits) is amended by adding at the end the following:
            ``(11) No carryback of section 45g credit before effective 
        date.--No portion of the unused business credit for any taxable 
        year which is attributable to the employee health insurance 
        expenses credit determined under section 45G may be carried 
        back to a taxable year ending before the date of the enactment 
        of section 45G.''.
    (e) Clerical Amendment.--The table of sections for subpart D of 
part IV of subchapter A of chapter 1 of the Internal Revenue Code of 
1986 is amended by adding at the end the following:

                              ``Sec. 45G. Employee health insurance 
                                        expenses.''.
    (f) Employer Outreach.--The Internal Revenue Service shall, in 
conjunction with the Small Business Administration, develop materials 
and implement an educational program to ensure that business personnel 
are aware of--
            (1) the eligibility criteria for the tax credit provided 
        under section 45G of the Internal Revenue Code of 1986 (as 
        added by this section),
            (2) the methods to be used in calculating such credit,
            (3) the documentation needed in order to claim such credit, 
        and
            (4) any available health plan purchasing alliances 
        established under title II,
so that the maximum number of eligible businesses may claim the tax 
credit.
    (g) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred in taxable years beginning after the 
date of the enactment of this Act.
Example Output: Small Business Health Tax Credit Act - Amends the Internal Revenue Code to allow small business employers (employers with between two and 50 employees) an income tax credit of between 30 to 50 percent (depending upon the number of employees) of the amount paid for employee health insurance, subject to a dollar limitation for each employee. Allows the employer to apply such credit against its minimum tax liability. Directs the Internal Revenue Service, in conjunction with the Small Business Administration, to educate small business personnel about this tax credit.

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Presidential Debate Reform Act''.

SEC. 2. ESTABLISHMENT OF PRESIDENTIAL DEBATE COMMISSION.

    Title III of the Federal Election Campaign Act of 1971 (2 U.S.C. 
431 et seq.) is amended by adding at the end the following new section:

                    ``presidential debate commission

    ``Sec. 323. (a) Establishment.--Not later than 6 months before the 
date of each general election for the offices of President and Vice 
President of the United States (beginning with the general election 
held in 2000), the President shall appoint a Presidential Debate 
Commission (hereafter in this section referred to as the `Commission') 
in accordance with this section with respect to such election.
    ``(b) Membership.--
            ``(1) In general.--The Commission shall be composed of 3 
        members appointed by the President as follows:
                    ``(A) 1 member shall be from among a list of 
                nominees submitted by the chair of the Republican 
                National Committee.
                    ``(B) 1 member shall be from among a list of 
                nominees submitted by the chair of the Democratic 
                National Committee.
                    ``(C) 1 member (who shall not be a member of the 
                Republican or Democratic Parties) shall be from among a 
                list of nominees submitted jointly by the chairs of the 
                Republican National Committee and the Democratic 
                National Committee.
            ``(2) Qualifications.--Members of the Commission may be 
        from the public or private sector, and may include Federal, 
        State, or local officers or employees, members of academia, 
        nonprofit organizations, or other interested individuals.
            ``(3) Vacancies.--Any vacancy shall be filled in the same 
        manner as the original appointment not later than 10 days after 
        the vacancy occurs.
            ``(4) Compensation.--Members of the Commission shall 
        receive no compensation for service on the Commission, but 
        shall be allowed travel expenses, including per diem in lieu of 
        subsistence, at rates authorized for employees of agencies 
        under subchapter I of chapter 57 of title 5, United States 
        Code, while away from their homes or regular places of business 
        in the performance of service for the Commission.
    ``(c) Powers; Meetings.--Except as provided in subsection (d), 
decisions made by the Commission shall be made by unanimous consent of 
the commissioners. The Commission shall meet at a time and a site 
agreed upon by each of the members.
    ``(d) Staff.--
            ``(1) Executive director.--With the approval of the 
        majority of the Commission's members and without regard to the 
        provisions of title 5, United States Code, governing 
        appointments in the competitive service, the Commission shall 
        appoint an executive director, who shall be paid at a rate not 
        to exceed the rate of basic pay payable for level V of the 
        Executive Schedule under section 5315 of title 5, United States 
        Code.
            ``(2) Other personnel.--With the approval of the majority 
        of the Commission's members, the Commission may appoint a 
        secretarial assistant and such other staff as the Commission 
        considers appropriate, without regard to the provisions of 
        title 5, United States Code, governing appointments in the 
        competitive service and without regard to the provisions of 
        chapter 51 and subchapter III of chapter 53 of that title 
        relating to classifications and General Schedule pay rates, 
        except that the rate of pay for any such personnel may not 
        exceed 75 percent of the rate of pay for the Executive 
        Director.
            ``(3) Temporary and intermittent services.--The Commission 
        may procure temporary and intermittent services to the same 
        extent as is authorized by section 3109(b) of title 5, United 
        States Code.
    ``(e) Duties.--It shall be the duty of the Commission to establish 
a schedule of debates in accordance with subsection (f) as follows:
            ``(1) One preliminary debate.
            ``(2) Not more than 2 Vice Presidential debates.
            ``(3) Not less than 2 or more than 4 Presidential debates.
    ``(f) Debates Described.--
            ``(1) Preliminary debates.--A preliminary debate shall take 
        place no sooner than 90 days and no later than 60 days before a 
        Presidential election. The time and place of the preliminary 
        debate shall be announced by the Commission no later than 14 
        days before the scheduled preliminary debate. A preliminary 
        debate shall involve any person who has declared himself a 
        candidate for the position of President of the United States 
        who is either on the ballot in all 50 States or is the choice 
        of 5 percent of likely voters to be President of the United 
        States, as determined by the Commission. Factors to be taken 
        into account include nationally recognized polling data. The 
        format shall be decided by the Commission. The attendance by 
        any candidate at the preliminary debate is optional.
            ``(2) Vice presidential debates.--Vice Presidential debates 
        shall take place at least 7 days following the preliminary 
        debate. The time and date of all Vice Presidential debates 
        shall be announced no later than 14 days prior to the first 
        Vice Presidential debate. All Vice Presidential debates shall 
        involve persons who are the Vice Presidential candidates to 
        qualified Presidential candidates described in paragraph (4). 
        The format of debates shall be decided by the Commission.
            ``(3) Presidential debates.--Presidential debates shall 
        take place no sooner than 7 days following the preliminary 
        debate. The time and date of all qualified debates shall be 
        announced no later than 21 days prior to the first scheduled 
        qualified debate. The format of debates shall be decided by the 
        Commission, with at least 1 being of the single moderator 
        format. Presidential debates shall involve persons who are 
        qualified Presidential candidates described in paragraph (4).
            ``(4) Qualified presidential candidate defined.--In this 
        subsection, a `qualified Presidential candidate' is a candidate 
        for President of the United States who is the choice of not 
        less than 5 percent of likely voters, to be determined by the 
        Commission taking into account only the polling data collected 
        no sooner than 1 day after the conclusion of the preliminary 
        debate.
    ``(g) Authorization of Appropriations.--There are authorized to be 
appropriated to each Commission appointed under this section such sums 
as may be necessary to carry out its activities with respect to the 
election involved.
    ``(h) Termination.--Each Commission appointed under this section 
shall terminate on the date following the day of the election for which 
the Commission was appointed.''.

SEC. 3. REDUCTION IN AMOUNT OF FEDERAL PAYMENTS FOR PARTY CONVENTIONS 
              OF PARTIES NOT PARTICIPATING IN COMMISSION DEBATES.

    Section 9008 of the Internal Revenue Code of 1986 is amended by 
adding at the end the following new subsection:
    ``(i) Reduction in Payments for Parties Not Participating in 
Debates Certified by Presidential Debate Commission.--
            ``(1) In general.--If the nominee for President of the 
        United States or Vice President of the United States of a party 
        receiving payments under this section does not certify to the 
        Commission that the nominee will participate in all applicable 
        debates scheduled by the Presidential Debate Commission 
        pursuant to section 323 of the Federal Election Campaign Act of 
        1971 with respect to a general election (other than a 
        preliminary debate described in section 323(f)(1) of such Act), 
        the amount of the payment to which the party is otherwise 
        entitled under this section for the nominating convention for 
        the following general election shall be reduced by the 
        percentage described in paragraph (2).
            ``(2) Reduction percentage described.--The percentage 
        described in this paragraph with respect to a party is the 
        amount (expressed as a percentage) equal to--
                    ``(A) the number of Presidential and Vice 
                Presidential debates scheduled by the Presidential 
                Debate Commission with respect to an election that the 
                party's nominee did not attend; divided by
                    ``(B) the total number of such debates scheduled by 
                the Commission with respect to the election.''.
Example Output:
Presidential Debate Reform Act - Amends the Federal Election Campaign Act of 1971 to direct the President to establish a Presidential Debate Commission (Commission) six months before each general election for the offices of President and Vice President beginning with the general election in 2000.  Directs the Commission to establish: (1) one preliminary debate; (2) not more than two vice presidential debates; and (3) not fewer than two nor more than four presidential debates. 
Authorizes appropriations. 
Amends the Internal Revenue Code to reduce the amount of Federal payments for a party's nominating convention for the following general election if the party's nominee for President or Vice President does not certify to the Commission that the nominee will participate in all applicable Commission debates (other than a preliminary debate).