[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 86 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                 H. R. 86

To amend the Internal Revenue Code of 1986 to provide for an income tax 
     credit for in-State contributions to congressional candidates.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 1993

 Mr. Clinger introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to provide for an income tax 
     credit for in-State contributions to congressional candidates.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION. 1. AMENDMENTS TO THE INTERNAL REVENUE CODE OF 1986 TO PROVIDE 
              FOR A CREDIT FOR IN-STATE CONTRIBUTIONS TO CONGRESSIONAL 
              CANDIDATES.

    (a) General Rule.--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. IN-STATE CONTRIBUTIONS TO CONGRESSIONAL CANDIDATES.

    ``(a) General Rule.--In the case of an individual, there shall be 
allowed as a credit against the tax imposed by this chapter for the 
taxable year an amount equal to the total of contributions to 
candidates for the office of Senator or Representative in, or Delegate 
or Resident Commissioner to, the Congress, for the State of which the 
taxpayer is a resident.
    ``(b) Limitations.--
            ``(1) Maximum credit.--The credit allowed by subsection (a) 
        for a taxable year shall not exceed $100 ($200 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) Definition.--For purposes of this section, the term 
`contribution' has the meaning given that term in section 301 of the 
Federal Election Campaign Act of 1971.''.
    (b) Conforming Amendments.--
            (1) Section 642 of such Code (relating to special rules for 
        credits and deductions of estates or trusts) is amended by 
        adding at the end the following new subsection:
    ``(j) Credit for Certain Contributions Not Allowed.--An estate or 
trust shall not be allowed the credit against tax 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. In-State contributions to congressional candidates.''.

SEC. 2. EFFECTIVE DATE.

    The amendments made by section 1 shall apply to taxable years 
beginning after December 31, 1994.

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