Given the task definition and input, reply with output. In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

SECTION 1. REPORTING OF BUNDLED CONTRIBUTIONS BY PERSONS OTHER THAN
REGISTERED LOBBYISTS.

(a) In General.--Subsection (i) of section 304 of the Federal
Election Campaign Act of 1971 (2 U.S.C. 434(i)), as added by the Honest
Leadership and Open Government Act of 2007, is amended--
(1) in paragraph (1), by striking ''reasonably known by the
committee to be a person described in paragraph (7)'';
(2) in paragraph (2), by striking ''means, with respect to
a committee'' and all that follows through ''threshold.'' and
inserting the following: ''means--
''(A) with respect to a committee which is an
authorized committee of a candidate for the office of
President or for nomination to such office--
''(i) the 2-year period preceding the date
of the election for the office of the
President; and
''(ii) any reporting period applicable to
the committee under this section during which
any person provided 2 or more bundled
contributions to the committee in an aggregate
amount greater than the applicable threshold;
and
''(B) with respect to any other committee--
''(i) the period beginning January 1 and
ending June 30 of each year;
''(ii) the period beginning July 1 and
ending December 31 of each year; and
''(iii) any reporting period applicable to
the committee under this section during which
any person provided 2 or more bundled
contributions to the committee in an aggregate
amount greater than the applicable
threshold.'';
(3) in paragraph (3)--
(A) by striking subparagraph (A) and inserting the
following:
''(A) In general.--In this subsection, the
'applicable threshold' is--
''(i) $50,000 in the case of a committee
which is an authorized committee of a candidate
for the office of President or for nomination
to such office; and
''(ii) $15,000 in the case of any other
committee.
In determining whether the amount of bundled
contributions provided to a committee by a person
exceeds the applicable threshold, there shall be
excluded any contribution made to the committee by the
person or the person's spouse.''; and
(B) in subparagraph (B), by striking ''the amount''
each place it appears and inserting ''each amount'';
(4) in paragraph (5), by striking ''described in paragraph
(7)'' each place it appears in subparagraphs (C) and (D);
(5) by striking paragraph (7) and inserting the following:
''(7) Separate reporting for certain persons.--Each
committee required to include a schedule under paragraph (1)
shall also include a separate schedule setting forth the name,
address, and employer of each person listed on the schedule
required under paragraph (1) who, at the time a contribution is
forwarded to a committee as described in paragraph (8)(A)(i) or
is received by a committee as described in paragraph
(8)(A)(ii), is--
''(A) a current registrant under section 4(a) of
the Lobbying Disclosure Act of 1995;
''(B) an individual who is listed on a current
registration filed under section 4(b)(6) of such Act or
a current report under section 5(b)(2)(C) of such Act;
or
''(C) a political committee established or
controlled by such a registrant or individual.
The schedule required under the preceding sentence shall also
include the aggregate amount of bundled contributions provided
by each such person during the covered period.''; and
(6) in paragraph (8)(A)--
(A) by striking ''and a person described in
paragraph (7)''; and
(B) by adding at the end the following flush
sentence:
''The term 'bundled contribution' shall not include any
contribution forwarded by or credited to (through
records, designations, or other means of recognizing a
certain amount of money has been raised) a person who
is a regularly paid employee of the committee.''.
(b) Effective Date.--The amendments made by this section shall take
effect as if included in section 204 of the Honest Leadership and Open
Government Act of 2007.
Amends the Federal Election Campaign Act of 1971, as amended by the Honest Leadership and Open Government Act of 2007, to revise requirements for disclosure of bundled contributions, particularly by an authorized committee of a candidate for the office of President or for nomination to such office (presidential candidate committee).

Applies such reporting requirements to bundled contributions by persons other than registered lobbyists. Requires reporting of lobbyist contributions on a separate schedule.

Sets the covered period for such reports as the two-year period preceding a presidential election, as well as any applicable reporting period during which any person provided two or more bundled contributions in an aggregate amount greater than the specified applicable amount.

Increases the applicable threshold triggering such reporting requirement from $15,000 (currently applicable to any authorized committee of a candidate, a leadership PAC, or a political party committee) to $50,000 in the case of a presidential candidate committee.

Excludes from the calculation of a bundled contribution any contribution by the candidate or the candidate's spouse.