3.0.0 3312 2019-04-11T15:42:15Z 2022-02-08T17:27:15Z Senate S S 2012-06-19 112 ssra00 Rules and Administration Committee Senate Standing Referred to 2012-06-19T22:02:14Z Presidential Funding Act 112 414 HR 2011-04-01 Referred to the Subcommittee on Elections. Related bill CRS Empowering Citizens Act 112 6448 HR 2012-09-20 Referred to the Committee on House Administration, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS 2012-06-19 ssra00 Rules and Administration Committee Senate Read twice and referred to the Committee on Rules and Administration. IntroReferral 2012-06-19 Introduced in Senate IntroReferral 10000 9 Library of Congress U000038 Sen. Udall, Mark [D-CO] MARK UDALL D CO N Government Operations and Politics Administrative law and regulatory procedures Congressional elections Elections, voting, political campaign regulation Federal Election Commission (FEC) Government information and archives Government trust funds Inflation and prices Judicial review and appeals Public participation and lobbying Tax administration and collection, taxpayers Government Operations and Politics 00 2012-06-19 Introduced in Senate 2012-07-20T19:27:06Z Presidential Funding Act - Amends the Internal Revenue Code and the Federal Election Campaign Act of 1971 to revise the system of public financing for presidential primary and general elections.

Increases the amount of matching funds for presidential primaries from a 1:1 match to a 4:1 match for contributions of $200 or less from individuals. Limits the total amount of payments to primary candidates to $100 million.

Requires presidential primary candidates who opt to participate in the public financing system to certify to the Federal Election Commission (FEC) that they have raised $25,000 (currently, $5,000) in each of 20 states, with individual contributions limited to $200. Requires such candidates to commit to accept public financing in both the primary and general elections.

Limits contributions to presidential primary candidates who participate in the public financing system to $1,000 from individual contributors (currently, $2,400).

Eliminates expenditure limitations for presidential primary and general elections.

Changes the period for payment of matching funds to presidential primary candidates from January 1 of the election year to six months prior to the date of the earliest state primary election.

Revises general election payment provisions to allow a grant of $50 million to candidates and an additional $150 million in matching funds based upon a 4:1 match of contributions raised after June 1 of the general election year from individual donors giving up to $200 each.

Increases to $50 million the limit on coordinated spending by a national party and its presidential candidate.

Eliminates public financing for national party conventions. Allows individual contributions up to $25,000 in each four-year presidential election cycle to pay for national party convention costs. Prohibits the use of unregulated funds (soft money) to pay for national party convention costs.

Increases from $3 to $10 ($6 to $20 for joint returns) the tax check-off for contributions to the Presidential Election Campaign Fund. Directs the Secretary of the Treasury to prescribe regulations to ensure that approved tax preparation software does not automatically accept or decline a check-off of contributions for the public financing system.

Directs the FEC to issue regulations on best efforts for identifying persons making contributions to political committees. Revises reporting requirements for the disclosure of bundled contributions by lobbyists and to presidential campaigns.

]]> Presidential Funding Act Short Titles as Introduced Presidential Funding Act Display Title Presidential Funding Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to reform the system of public financing for Presidential elections, and for other purposes. Introduced in Senate 2012-06-19T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s3312is/xml/BILLS-112s3312is.xml 2012-06-19 Read twice and referred to the Committee on Rules and Administration. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.