110 HR 486 IH: To amend the Federal Election Campaign Act of 1971 to U.S. House of Representatives 2007-01-16 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.

I 110th CONGRESS 1st Session H. R. 486 IN THE HOUSE OF REPRESENTATIVES January 16, 2007 Mr. Gingrey introduced the following bill; which was referred to the Committee on House Administration A BILL To amend the Federal Election Campaign Act of 1971 to place restrictions on the disposition of funds by leadership PACs.

1.

Short Title

This Act may be cited as the Leadership PAC Reform Act of 2007.

2.

Restrictions on Disposition of Funds by Leadership PACs

(a)

Restrictions

Section 313 of the Federal Election Campaign Act of 1971 (2 U.S.C. 439a) is amended— (1)by redesignating subsection (b) as subsection (c); and (2)by inserting after subsection (a) the following new subsection: (b)

Use of Funds by Leadership PACs

(1)

Uses permitted

The funds of a leadership PAC may be used by the leadership PAC— (A)for otherwise authorized expenditures in connection with campaigns for election for Federal office; (B)for charitable contributions described in section 170(c) of the Internal Revenue Code of 1986; or (C)for transfers to a national, State, or local committee of a political party (subject to the applicable limitations of this Act). (2)

Leadership PAC defined

In this subsection, the term leadership PAC means a political committee which is directly or indirectly established, maintained, or controlled by a candidate for election for Federal office or an individual holding Federal office but is not an authorized committee of the candidate or individual, except that such term does not include any political committee of a political party. . (b)

Conforming Amendment Regarding Conversion of Funds to Personal Use

Section 313(c) of such Act (2 U.S.C. 439a(c)), as redesignated by subsection (a), is amended by inserting after subsection (a) the following: or funds of a leadership PAC described in subsection (b). (c)

Effective Date

The amendments made by this section shall apply with respect to elections occurring after December 2007.