[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3098 Introduced in House (IH)]







                                    


105th CONGRESS
  2d Session
                                H. R. 3098

    To amend the Internal Revenue Code of 1986 to terminate public 
             financing of Presidential election campaigns.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 27, 1998

Mr. Livingston 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 terminate public 
             financing of Presidential election campaigns.

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

SECTION 1. TERMINATION OF PUBLIC FINANCING OF PRESIDENTIAL ELECTION 
              CAMPAIGNS.

    (a) Termination of Designation of Income Tax Payments.--Section 
6096 of the Internal Revenue Code of 1986 is amended by adding at the 
end the following new subsection:
    ``(d) Termination.--This section shall not apply to taxable years 
beginning after December 31, 1998.''
    (b) Termination of Presidential Election Campaign Fund and 
Presidential Primary Matching Payment Account.--
            (1) Termination of fund.--
                    (A) In general.--Chapter 95 of subtitle H of such 
                Code is amended by adding at the end the following new 
                section:

``SEC. 9014. TERMINATION.

    ``The provisions of this chapter shall not apply with respect to 
any presidential election (or any presidential nominating convention) 
after December 31, 1998, or to any candidate in such an election.''
                    (B) Transfer of excess funds to general fund.--
                Section 9006 of such Code is amended by adding at the 
                end the following new subsection:
    ``(d) Transfer of Funds Remaining After 1998.--The Secretary shall 
transfer all amounts in the fund after December 31, 1998, to the 
general fund of the Treasury.''
            (2) Termination of account.--Chapter 96 of subtitle H of 
        such Code is amended by adding at the end the following new 
        section:

``SEC. 9043. TERMINATION.

    ``The provisions of this chapter shall not apply to any candidate 
with respect to any presidential election after December 31, 1998.''
    (c) Clerical Amendments.--
            (1) The table of sections for chapter 95 of subtitle H of 
        such Code is amended by adding at the end the following new 
        item:

                              ``Sec. 9014. Termination.''
            (2) The table of sections for chapter 96 of subtitle H of 
        such Code is amended by adding at the end the following new 
        item:

                              ``Sec. 9043. Termination.''
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