Q: 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. PERCENTAGE LIMITATION ON NONPARTY MULTICANDIDATE POLITICAL
COMMITTEE CONTRIBUTIONS ACCEPTED BY HOUSE OF
REPRESENTATIVES CANDIDATES.

Section 315 of the Federal Election Campaign Act of 1971 (2 U.S.C.
441a) is amended by adding at the end the following new subsection:
''(i) A candidate for the office of Representative in, or Delegate
or Resident Commissioner to, the Congress may not, with respect to an
election, accept contributions from nonparty multicandidate political
committees that, in the aggregate, exceed 40 percent of the total of
contributions accepted from all sources.''.

SEC. 2. INCOME TAX CREDIT FOR CONTRIBUTIONS TO NONINCUMBENT HOUSE OF
REPRESENTATIVES CANDIDATES.

(a) In General.--Subpart A of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to nonrefundable
personal credits) is amended by inserting after section 23 the
following new section:

''SEC. 24. CONTRIBUTIONS TO NONINCUMBENT HOUSE OF REPRESENTATIVES
CANDIDATES.

''(a) General Rule.--In the case of an individual, there shall be
allowed, subject to the limitations of subsection (b), as a credit
against the tax imposed by this chapter for the taxable year, an amount
equal to one-half of all contributions to candidates for the office of
Representative in, or Delegate or Resident Commissioner to, the
Congress (other than contributions to an incumbent of any such office),
payment of which is made by the taxpayer within the taxable year.
''(b) Limitations.--
''(1) Maximum credit.--The credit allowed by subsection (a)
for a taxable year shall not exceed $50 ($100 in the case of a
joint return under section 6013).
''(2) Verification.--The credit allowed by subsection (a)
shall be allowed, with respect to any contribution, only if
such contribution is verified in such manner as the Secretary
shall prescribe by regulations.
''(c) Definitions.--For purposes of this section, the terms
'candidate' and 'contribution' have the meanings given those terms in
section 301 of the Federal Election Campaign Act of 1971.
''(d) Cross Reference.--

''For disallowance of credits to
estates and trusts, see section 642(a)(2).''.
(b) Technical Amendments.--
(1) Subsection (a) of section 642 of such Code is amended
to read as follows:
''(a) Credits Against Tax.--
''(1) Foreign tax credit allowed.--An estate or trust shall
be allowed the credit against tax for taxes imposed by foreign
countries and possessions of the United States, to the extent
allowed by section 901, only in respect of so much of the taxes
described in such section as is not properly allocable under
such section to the beneficiaries.
''(2) Credit for contributions to nonincumbent house of
representatives candidates not allowed.--An estate or trust
shall not be allowed the credit against tax for contributions
to nonincumbent House of Representatives candidates provided by
section 24.''.
(2) The table of sections for subpart A of part IV of
subchapter A of chapter 1 of such Code is amended by inserting
after the item relating to section 23 the following new item:

''Sec. 24. Contributions to nonincumbent
House of Representatives
candidates.''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 1993.

SEC. 3. NOTIFICATION REQUIREMENTS FOR EXPENDITURES BY CERTAIN POLITICAL
COMMITTEES IN HOUSE OF REPRESENTATIVES ELECTIONS.

Section 304 of the Federal Election Campaign Act of 1971 (2 U.S.C.
434) is amended by adding at the end the following new subsection:
''(d) In addition to any other reporting requirement provided for
by law, each political committee (other than a political committee of a
political party or a political committee of a candidate for the office
of Representative in, or Delegate or Resident Commissioner to, the
Congress) that makes expenditures with respect to an election for such
office shall--
''(1) not later than one week after the date on which such
committee makes aggregate expenditures in excess of $50, so
notify each candidate in the election;
''(2) in the case of a committee to which paragraph (1)
applies, simultaneously with submission of any report of
expenditures to the Commission, notify each candidate in the
election of all expenditures in the reporting period; and
''(3) not later than one week after the date on which such
committee makes any single expenditure in excess of $50, so
notify each candidate in the election.''.

SEC. 4. PERCENTAGE LIMITATION ON OUT-OF-STATE CONTRIBUTIONS ACCEPTABLE
BY HOUSE OF REPRESENTATIVES CANDIDATES.

Section 315 of the Federal Election Campaign Act of 1971 (2 U.S.C.
441a), as amended by section 1 of this Act, is further amended by
adding at the end the following new subsection:
''(j) A candidate for the office of Representative in, or Delegate
or Resident Commissioner to, the Congress may not, with respect to an
election, accept contributions from individuals who are not residents
of the State involved that, in the aggregate, exceed 25 percent of the
total of contributions accepted from all individuals.''.

SEC. 5. REDUCTION IN THRESHOLD AMOUNT FOR REPORTING OF CERTAIN
CONTRIBUTIONS AND EXPENDITURES.

Section 304 of the Federal Election Campaign Act of 1971 (2 U.S.C.
434), as amended by section 3, is further amended by striking out
''$200'' each place it appears and inserting in lieu thereof ''$50''.

SEC. 6. REDUCED THIRD CLASS MAIL RATE FOR NONINCUMBENTS IN HOUSE OF
REPRESENTATIVES ELECTIONS.

(a) In General.--Chapter 34 of title 39, United States Code, is
amended by adding at the end the following new section:
Sec. 3407. Reduced third class mail rate for nonincumbents in House of
Representatives elections
''(a)(1) A nonincumbent candidate for the office of Representative
in, or Delegate or Resident Commissioner to, the Congress shall be
entitled to send third class campaign material through the mails at a
rate equal to one-half of the third class bulk mail rate.
''(2) The rate provided for in subsection (a) shall be available--
''(A) for 3 mailings in the congressional district
involved; and
''(B) only for material mailed to households with resident
registered voters.
''(b) There are authorized to be appropriated such amounts as may
be necessary to reimburse the Postal Service for the difference between
the revenues received for campaign materials mailed under subsection
(a) and the revenues that the Postal Service would have received if
such materials had been carried at the regular rate.''.
(b) Clerical Amendment.--The table of sections for chapter 34 of
title 39, United States Code, is amended by adding at the end the
following new item:

''3407. Reduced third class mail rate for
nonincumbents in House of
Representatives elections.''.
A:
Amends the Federal Election Compaign Act of 1971 to: (1) limit nonparty multicandidate political committee (PAC) and out-of-State contributions to House of Representatives candidates; and (2) reduce the reporting threshold for certain contributions and expenditures.
Amends the Internal Revenue Code to provide an income tax credit for contributions to nonincumbent House of Representatives candidates.
Entitles nonincumbent House of Representatives candidates to reduced third class mail rates for campaign materials.