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Re: Russ Feingold on illegal wiretapping and Leiberman and TWAT
continued:
Quote:
SEC. 304. MODIFICATION OF INDIVIDUAL CONTRIBUTION LIMITS IN RESPONSE TO EXPENDITURES FROM PERSONAL FUNDS.
• (a) INCREASED LIMITS FOR INDIVIDUALS- Section 315 of the Federal Election Campaign Act of 1971 (2 U.S.C. 441a) is amended--
• (1) in subsection (a)(1), by striking `No person' and inserting `Except as provided in subsection (i), no person'; and
• (2) by adding at the end the following:
• `(i) INCREASED LIMIT TO ALLOW RESPONSE TO EXPENDITURES FROM PERSONAL FUNDS-
• `(1) INCREASE-
• `(A) IN GENERAL- Subject to paragraph (2), if the opposition personal funds amount with respect to a candidate for election to the office of Senator exceeds the threshold amount, the limit under subsection (a)(1)(A) (in this subsection referred to as the `applicable limit') with respect to that candidate shall be the increased limit.
• `(B) THRESHOLD AMOUNT-
• `(i) STATE-BY-STATE COMPETITIVE AND FAIR CAMPAIGN FORMULA- In this subsection, the threshold amount with respect to an election cycle of a candidate described in subparagraph (A) is an amount equal to the sum of--
• `(I) $150,000; and
• `(II) $0.04 multiplied by the voting age population.
• `(ii) VOTING AGE POPULATION- In this subparagraph, the term `voting age population' means in the case of a candidate for the office of Senator, the voting age population of the State of the candidate (as certified under section 315(e)).
• `(C) INCREASED LIMIT- Except as provided in clause (ii), for purposes of subparagraph (A), if the opposition personal funds amount is over--
• `(i) 2 times the threshold amount, but not over 4 times that amount--
• `(I) the increased limit shall be 3 times the applicable limit; and
• `(II) the limit under subsection (a)(3) shall not apply with respect to any contribution made with respect to a candidate if such contribution is made under the increased limit of subparagraph (A) during a period in which the candidate may accept such a contribution;
• `(ii) 4 times the threshold amount, but not over 10 times that amount--
• `(I) the increased limit shall be 6 times the applicable limit; and
• `(II) the limit under subsection (a)(3) shall not apply with respect to any contribution made with respect to a candidate if such contribution is made under the increased limit of subparagraph (A) during a period in which the candidate may accept such a contribution; and
• `(iii) 10 times the threshold amount--
• `(I) the increased limit shall be 6 times the applicable limit;
• `(II) the limit under subsection (a)(3) shall not apply with respect to any contribution made with respect to a candidate if such contribution is made under the increased limit of subparagraph (A) during a period in which the candidate may accept such a contribution; and
• `(III) the limits under subsection (d) with respect to any expenditure by a State or national committee of a political party shall not apply.
• `(D) OPPOSITION PERSONAL FUNDS AMOUNT- The opposition personal funds amount is an amount equal to the excess (if any) of--
• `(i) the greatest aggregate amount of expenditures from personal funds (as defined in section 304(a)(6)(B)) that an opposing candidate in the same election makes; over
• `(ii) the aggregate amount of expenditures from personal funds made by the candidate with respect to the election.
• `(2) TIME TO ACCEPT CONTRIBUTIONS UNDER INCREASED LIMIT-
• `(A) IN GENERAL- Subject to subparagraph (B), a candidate and the candidate's authorized committee shall not accept any contribution, and a party committee shall not make any expenditure, under the increased limit under paragraph (1)--
• `(i) until the candidate has received notification of the opposition personal funds amount under section 304(a)(6)(B); and
• `(ii) to the extent that such contribution, when added to the aggregate amount of contributions previously accepted and party expenditures previously made under the increased limits under this subsection for the election cycle, exceeds 110 percent of the opposition personal funds amount.
• `(B) EFFECT OF WITHDRAWAL OF AN OPPOSING CANDIDATE- A candidate and a candidate's authorized committee shall not accept any contribution and a party shall not make any expenditure under the increased limit after the date on which an opposing candidate ceases to be a candidate to the extent that the amount of such increased limit is attributable to such an opposing candidate.
• `(3) DISPOSAL OF EXCESS CONTRIBUTIONS-
• `(A) IN GENERAL- The aggregate amount of contributions accepted by a candidate or a candidate's authorized committee under the increased limit under paragraph (1) and not otherwise expended in connection with the election with respect to which such contributions relate shall, not later than 50 days after the date of such election, be used in the manner described in subparagraph (B).
• `(B) RETURN TO CONTRIBUTORS- A candidate or a candidate's authorized committee shall return the excess contribution to the person who made the contribution.
• `(j) LIMITATION ON REPAYMENT OF PERSONAL LOANS- Any candidate who incurs personal loans made after the effective date of the Bipartisan Campaign Reform Act of 2002 in connection with the candidate's campaign for election shall not repay (directly or indirectly), to the extent such loans exceed $250,000, such loans from any contributions made to such candidate or any authorized committee of such candidate after the date of such election.'.
• (b) NOTIFICATION OF EXPENDITURES FROM PERSONAL FUNDS- Section 304(a)(6) of the Federal Election Campaign Act of 1971 (2 U.S.C. 434(a)(6)) is amended--
• (1) by redesignating subparagraph (B) as subparagraph (E); and
• (2) by inserting after subparagraph (A) the following:
• `(B) NOTIFICATION OF EXPENDITURE FROM PERSONAL FUNDS-
• `(i) DEFINITION OF EXPENDITURE FROM PERSONAL FUNDS- In this subparagraph, the term `expenditure from personal funds' means--
• `(I) an expenditure made by a candidate using personal funds; and
• `(II) a contribution or loan made by a candidate using personal funds or a loan secured using such funds to the candidate's authorized committee.
• `(ii) DECLARATION OF INTENT- Not later than the date that is 15 days after the date on which an individual becomes a candidate for the office of Senator, the candidate shall file a declaration stating the total amount of expenditures from personal funds that the candidate intends to make, or to obligate to make, with respect to the election that will exceed the State-by-State competitive and fair campaign formula with--
• `(I) the Commission; and
• `(II) each candidate in the same election.
• `(iii) INITIAL NOTIFICATION- Not later than 24 hours after a candidate described in clause (ii) makes or obligates to make an aggregate amount of expenditures from personal funds in excess of 2 times the threshold amount in connection with any election, the candidate shall file a notification with--
• `(I) the Commission; and
• `(II) each candidate in the same election.
• `(iv) ADDITIONAL NOTIFICATION- After a candidate files an initial notification under clause (iii), the candidate shall file an additional notification each time expenditures from personal funds are made or obligated to be made in an aggregate amount that exceed $10,000 with--
• `(I) the Commission; and
• `(II) each candidate in the same election.
• Such notification shall be filed not later than 24 hours after the expenditure is made.
• `(v) CONTENTS- A notification under clause (iii) or (iv) shall include--
• `(I) the name of the candidate and the office sought by the candidate;
• `(II) the date and amount of each expenditure; and
• `(III) the total amount of expenditures from personal funds that the candidate has made, or obligated to make, with respect to an election as of the date of the expenditure that is the subject of the notification.
• `(C) NOTIFICATION OF DISPOSAL OF EXCESS CONTRIBUTIONS- In the next regularly scheduled report after the date of the election for which a candidate seeks nomination for election to, or election to, Federal office, the candidate or the candidate's authorized committee shall submit to the Commission a report indicating the source and amount of any excess contributions (as determined under paragraph (1) of section 315(i)) and the manner in which the candidate or the candidate's authorized committee used such funds.
• `(D) ENFORCEMENT- For provisions providing for the enforcement of the reporting requirements under this paragraph, see section 309.'.
• (c) DEFINITIONS- Section 301 of the Federal Election Campaign Act of 1971 (2 U.S.C. 431), as amended by section 101(b), is further amended by adding at the end the following:
• `(25) ELECTION CYCLE- For purposes of sections 315(i) and 315A and paragraph (26), the term `election cycle' means the period beginning on the day after the date of the most recent election for the specific office or seat that a candidate is seeking and ending on the date of the next election for that office or seat. For purposes of the preceding sentence, a primary election and a general election shall be considered to be separate elections.
• `(26) PERSONAL FUNDS- The term `personal funds' means an amount that is derived from--
• `(A) any asset that, under applicable State law, at the time the individual became a candidate, the candidate had legal right of access to or control over, and with respect to which the candidate had--
• `(i) legal and rightful title; or
• `(ii) an equitable interest;
• `(B) income received during the current election cycle of the candidate, including--
• `(i) a salary and other earned income from bona fide employment;
• `(ii) dividends and proceeds from the sale of the candidate's stocks or other investments;
• `(iii) bequests to the candidate;
• `(iv) income from trusts established before the beginning of the election cycle;
• `(v) income from trusts established by bequest after the beginning of the election cycle of which the candidate is the beneficiary;
• `(vi) gifts of a personal nature that had been customarily received by the candidate prior to the beginning of the election cycle; and
• `(vii) proceeds from lotteries and similar legal games of chance; and
• `(C) a portion of assets that are jointly owned by the candidate and the candidate's spouse equal to the candidate's share of the asset under the instrument of conveyance or ownership, but if no specific share is indicated by an instrument of conveyance or ownership, the value of 1/2 of the property.'.
SEC. 305. LIMITATION ON AVAILABILITY OF LOWEST UNIT CHARGE FOR FEDERAL CANDIDATES ATTACKING OPPOSITION.
• (a) IN GENERAL- Section 315(b) of the Communications Act of 1934 (47 U.S.C. 315(b)) is amended--
• (1) by striking `(b) The charges' and inserting the following:
• `(b) CHARGES-
• `(1) IN GENERAL- The charges';
• (2) by redesignating paragraphs (1) and (2) as subparagraphs (A) and (B), respectively; and
• (3) by adding at the end the following:
• `(2) CONTENT OF BROADCASTS-
• `(A) IN GENERAL- In the case of a candidate for Federal office, such candidate shall not be entitled to receive the rate under paragraph (1)(A) for the use of any broadcasting station unless the candidate provides written certification to the broadcast station that the candidate (and any authorized committee of the candidate) shall not make any direct reference to another candidate for the same office, in any broadcast using the rights and conditions of access under this Act, unless such reference meets the requirements of subparagraph (C) or (D).
• `(B) LIMITATION ON CHARGES- If a candidate for Federal office (or any authorized committee of such candidate) makes a reference described in subparagraph (A) in any broadcast that does not meet the requirements of subparagraph (C) or (D), such candidate shall not be entitled to receive the rate under paragraph (1)(A) for such broadcast or any other broadcast during any portion of the 45-day and 60-day periods described in paragraph (1)(A), that occur on or after the date of such broadcast, for election to such office.
• `(C) TELEVISION BROADCASTS- A candidate meets the requirements of this subparagraph if, in the case of a television broadcast, at the end of such broadcast there appears simultaneously, for a period no less than 4 seconds--
• `(i) a clearly identifiable photographic or similar image of the candidate; and
• `(ii) a clearly readable printed statement, identifying the candidate and stating that the candidate has approved the broadcast and that the candidate's authorized committee paid for the broadcast.
• `(D) RADIO BROADCASTS- A candidate meets the requirements of this subparagraph if, in the case of a radio broadcast, the broadcast includes a personal audio statement by the candidate that identifies the candidate, the office the candidate is seeking, and indicates that the candidate has approved the broadcast.
• `(E) CERTIFICATION- Certifications under this section shall be provided and certified as accurate by the candidate (or any authorized committee of the candidate) at the time of purchase.
• `(F) DEFINITIONS- For purposes of this paragraph, the terms `authorized committee' and `Federal office' have the meanings given such terms by section 301 of the Federal Election Campaign Act of 1971 (2 U.S.C. 431).'.
• (b) CONFORMING AMENDMENT- Section 315(b)(1)(A) of the Communications Act of 1934 (47 U.S.C. 315(b)(1)(A)), as amended by this Act, is amended by inserting `subject to paragraph (2),' before `during the forty-five days'.
• (c) EFFECTIVE DATE- The amendments made by this section shall apply to broadcasts made after the effective date of this Act.
SEC. 306. SOFTWARE FOR FILING REPORTS AND PROMPT DISCLOSURE OF CONTRIBUTIONS.
• Section 304(a) of the Federal Election Campaign Act of 1971 (2 U.S.C. 434(a)) is amended by adding at the end the following:
• `(12) SOFTWARE FOR FILING OF REPORTS-
• `(A) IN GENERAL- The Commission shall--
• `(i) promulgate standards to be used by vendors to develop software that--
• `(I) permits candidates to easily record information concerning receipts and disbursements required to be reported under this Act at the time of the receipt or disbursement;
• `(II) allows the information recorded under subclause (I) to be transmitted immediately to the Commission; and
• `(III) allows the Commission to post the information on the Internet immediately upon receipt; and
• `(ii) make a copy of software that meets the standards promulgated under clause (i) available to each person required to file a designation, statement, or report in electronic form under this Act.
• `(B) ADDITIONAL INFORMATION- To the extent feasible, the Commission shall require vendors to include in the software developed under the standards under subparagraph (A) the ability for any person to file any designation, statement, or report required under this Act in electronic form.
• `(C) REQUIRED USE- Notwithstanding any provision of this Act relating to times for filing reports, each candidate for Federal office (or that candidate's authorized committee) shall use software that meets the standards promulgated under this paragraph once such software is made available to such candidate.
• `(D) REQUIRED POSTING- The Commission shall, as soon as practicable, post on the Internet any information received under this paragraph.'.
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De duobus malis, minus est semper eligendum
Last edited by MattLarson; 08-17-2006 at 07:36 AM.
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