1.Short
title; table of contents
(a)This Act may be cited
as the Presidential Funding Act of
2007
.
(b)The table of contents of this Act is as follows:
Sec. 1. Short title; table of
contents.
Sec. 2. Revisions to system of Presidential primary matching
payments.
Sec. 3. Requiring participation in primary payment system as
condition of eligibility for general election payments.
Sec. 4. Revisions to expenditure limits.
Sec. 5. Additional payments and increased expenditure limits
for candidates participating in public financing who face certain
nonparticipating opponents.
Sec. 6. Establishment of uniform date for release of payments
from Presidential Election Campaign Fund to eligible candidates.
Sec. 7. Revisions to designation of income tax payments by
individual taxpayers.
Sec. 8. Amounts in Presidential Election Campaign
Fund.
Sec. 9. Regulation of convention financing.
Sec. 10. Disclosure of bundled contributions to presidential
campaigns.
Sec. 11. Repeal of priority in use of funds for political
conventions.
Sec. 12. Offsets.
Sec. 13. Effective date.
2.Revisions to
system of Presidential primary matching payments
(a)Increase in
matching payments
(1)Section 9034(a) of the Internal Revenue Code of 1986 is
amended—
(A)by striking
an amount equal to the amount
and inserting an amount
equal to 400 percent of the amount
; and
(B)by striking
$250
and inserting $200
.
(2)Additional
matching payments for candidates after March 31 of the election
yearSection 9034(b) of such Code is amended to read as
follows:
(b)Additional
payments for candidates after March 31 of the election yearIn
addition to any payment under subsection (a), an individual who is a candidate
after March 31 of the calendar year in which the presidential election is held
and who is eligible to receive payments under section 9033 shall be entitled to
payments under section 9037 in an amount equal to the amount of each
contribution received by such individual after March 31 of the calendar year in
which such presidential election is held, disregarding any amount of
contributions from any person to the extent that the total of the amounts
contributed by such person after such date exceeds
$200.
.
(3)Section 9034 of such Code, as amended by paragraph
(2), is amended—
(A)by striking the
last sentence of subsection (a); and
(B)by inserting after
subsection (b) the following new subsection:
(c)For purposes of this section and section 9033(b), the
term contribution means a gift of money made by a written
instrument which identifies the person making the contribution by full name and
mailing address, but does not include a subscription, loan, advance, or deposit
of money, or anything of value or anything described in subparagraph (B), (C),
or (D) of section
9032(4).
.
(b)
(1)Amount of
aggregate contributions per StateSection 9033(b)(3) of such Code
is amended by striking $5,000
and inserting
$25,000
.
(2)Amount of
individual contributionsSection 9033(b)(4) of such Code is
amended by striking $250
and inserting
$200
.
(3)Participation in
system for payments for general electionSection 9033(b) of such
Code is amended—
(A)by striking
and
at the end of paragraph (3);
(B)by striking the
period at the end of paragraph (4) and inserting , and
;
and
(C)by adding at the
end the following new paragraph:
(5)if the candidate
is nominated by a political party for election to the office of President, the
candidate will apply for and accept payments with respect to the general
election for such office in accordance with chapter 95, including the
requirement that the candidate and the candidate’s authorized committees will
not incur qualified campaign expenses in excess of the aggregate payments to
which they will be entitled under section
9004.
.
(c)Period of
availability of paymentsSection 9032(6) of such Code is amended
by striking the beginning of the calendar year in which a general
election for the office of President of the United States will be held
and inserting the date that is 6 months prior to the date of the
earliest State primary election
.
3.Requiring
participation in primary payment system as condition of eligibility for general
election payments
(a)Section 9003(b) of the Internal Revenue Code of 1986
is amended—
(1)by
redesignating paragraphs (1) and (2) as paragraphs (2) and (3); and
(2)by inserting
before paragraph (2) (as so redesignated) the following new paragraph:
(1)the candidate
received payments under chapter 96 for the campaign for
nomination;
.
(b)Section 9003(c) of such Code is amended—
(1)by redesignating
paragraphs (1) and (2) as paragraphs (2) and (3); and
(2)by inserting
before paragraph (2) (as so redesignated) the following new paragraph:
(1)the candidate
received payments under chapter 96 for the campaign for
nomination;
.
4.Revisions to
expenditure limits
(a)Increase in
expenditure limits for participating candidates; elimination of State-specific
limits
(1)Section 315(b)(1) of the Federal Election Campaign Act of
1971 (2 U.S.C. 441a(b)(1)) is amended by striking may make expenditures
in excess of
and all that follows and
inserting
may make
expenditures—(A)with respect to a campaign for
nomination for election to such office—
(i)in excess of $100,000,000 before
April 1 of the calendar year in which the presidential election is held;
and
(ii)in excess of $150,000,000 before
the date described in section 9006(b) of the Internal Revenue Code of 1986;
and
(B)with respect to a campaign for
election to such office, in excess of
$100,000,000.
.
(2)Section 9004(a)(1) of the Internal Revenue Code of
1986 is amended by striking section 320(b)(1)(B) of the
Federal Election Campaign Act of
1971
and inserting section 315(b)(1)(B) of the
Federal Election Campaign Act of
1971
.
(b)Increase in
limit on coordinated party expendituresSection 315(d)(2) of the
Federal Election Campaign Act of 1971
(2 U.S.C. 441a(d)(2)) is amended to read as follows:
(2)(A)The national committee
of a political party may not make any expenditure in connection with the
general election campaign of any candidate for President of the United States
who is affiliated with such party which exceeds $25,000,000.
(B)Notwithstanding the limitation under
subparagraph (A), during the period beginning on April 1 of the year in which a
presidential election is held and ending on the date described in section
9006(b) of the Internal Revenue Code of 1986, the national committee of a
political party may make additional expenditures in connection with the general
election campaign of a candidate for President of the United States who is
affiliated with such party in an amount not to exceed $25,000,000.
(C)(i)Notwithstanding
subparagraph (B) or the limitation under subparagraph (A), if any
nonparticipating primary candidate (within the meaning of subsection (b)(3))
affiliated with the national committee of a political party receives
contributions or makes expenditures with respect to such candidate's campaign
in an aggregate amount greater than 120 percent of the expenditure limitation
in effect under subsection (b)(1)(A)(ii), then, during the period described in
clause (ii), the national committee of any other political party may make
expenditures in connection with the general election campaign of a candidate
for President of the United States who is affiliated with such other party
without limitation.
(ii)The period described in this clause
is the period—
(I)beginning on the later of April 1 of
the year in which a presidential election is held or the date on which such
nonparticipating primary candidate first receives contributions or makes
expenditures in the aggregate amount described in clause (i); and
(II)ending on the earlier of the date
such nonparticipating primary candidate ceases to be a candidate for nomination
to the office of President of the United States and is not a candidate for such
office or the date described in section 9006(b) of the Internal Revenue Code of
1986.
(iii)If the nonparticipating primary
candidate described in clause (i) ceases to be a candidate for nomination to
the office of President of the United States and is not a candidate for such
office, clause (i) shall not apply and the limitations under subparagraphs (A)
and (B) shall apply. It shall not be considered to be a violation of this Act
if the application of the preceding sentence results in the national committee
of a political party violating the limitations under subparagraphs (A) and (B)
solely by reason of expenditures made by such national committee during the
period in which clause (i) applied.
(D)For purposes of this
paragraph—
(i)any expenditure made by or on behalf
of a national committee of a political party and in connection with a
presidential election shall be considered to be made in connection with the
general election campaign of a candidate for President of the United States who
is affiliated with such party; and
(ii)any communication made by or on
behalf of such party shall be considered to be made in connection with the
general election campaign of a candidate for President of the United States who
is affiliated with such party if any portion of the communication is in
connection with such election.
(E)Any expenditure under this paragraph
shall be in addition to any expenditure by a national committee of a political
party serving as the principal campaign committee of a candidate for the office
of President of the United
States.
.
(c)Conforming
amendments relating to timing of cost-of-living adjustment
(1)Section 315(c)(1) of such Act (2 U.S.C. 441a(c)(1)) is
amended—
(A)in subparagraph
(B), by striking (b), (d),
and inserting (d)(3)
;
and
(B)by inserting at the
end the following new subparagraph:
(D)In any calendar year after
2008—
(i)a limitation established by subsection
(b) or (d)(2) shall be increased by the percent difference determined under
subparagraph (A);
(ii)each amount so increased shall remain
in effect for the calendar year; and
(iii)if any amount after adjustment under
clause (i) is not a multiple of $100, such amount shall be rounded to the
nearest multiple of
$100.
.
(2)Section 315(c)(2)(B) of such Act (2 U.S.C. 441a(c)(2)(B)) is
amended—
(A)in clause
(i)—
(i)by
striking subsections (b) and (d)
and inserting subsection
(d)(3)
; and
(ii)by
striking and
at the end;
(B)in clause (ii), by
striking the period at the end and inserting ; and
; and
(C)by adding at the
end the following new clause:
(iii)for purposes of subsection (b)
and (d)(2), calendar year
2007.
.
(d)Repeal of
exclusion of fundraising costs from treatment as
expendituresSection 301(9)(B)(vi) of the
Federal Election Campaign Act of 1971
(2 U.S.C. 431(9)(B)(vi)) is amended by striking in excess of an amount
equal to 20 percent of the expenditure limitation applicable to such candidate
under section 315(b)
and inserting the following: who is seeking
nomination for election or election to the office of President or Vice
President of the United States
.
5.Additional
payments and increased expenditure limits for candidates participating in
public financing who face certain nonparticipating opponents
(a)Candidates in
primary elections
(1)
(A)Section 9034 of the Internal Revenue Code of 1986, as
amended by section 2, is amended by redesignating subsection (c) as subsection
(d) and by inserting after subsection (b) the following new subsection:
(c)Additional
payments for candidates facing nonparticipating opponents
(1)In addition to any payments provided under subsections
(a) and (b), each candidate described in paragraph (2) shall be entitled
to—
(A)a payment under
section 9037 in an amount equal to the amount of each contribution received by
such candidate on or after the beginning of the calendar year preceding the
calendar year of the presidential election with respect to which such candidate
is seeking nomination and before the qualifying date, disregarding any amount
of contributions from any person to the extent that the total of the amounts
contributed by such person exceeds $200, and
(B)payments under
section 9037 in an amount equal to the amount of each contribution received by
such candidate on or after the qualifying date, disregarding any amount of
contributions from any person to the extent that the total of the amounts
contributed by such person exceeds $200.
(2)Candidates to
whom this subsection appliesA candidate is described in this
paragraph if such candidate—
(A)is eligible to
receive payments under section 9033, and
(B)is opposed by a
nonparticipating primary candidate of the same political party who receives
contributions or makes expenditures with respect to the campaign—
(i)before April 1 of
the year in which the presidential election is held, in an aggregate amount
greater than 120 percent of the expenditure limitation under section
315(b)(1)(A)(i) of the Federal Election Campaign Act of 1971, or
(ii)before the date
described in section 9006(b), in an aggregate amount greater than 120 percent
of the expenditure limitation under section 315(b)(1)(A)(ii) of such
Act.
(3)Nonparticipating
primary candidateIn this subsection, the term
nonparticipating primary candidate means a candidate for
nomination for election for the office of President who is not eligible under
section 9033 to receive payments from the Secretary under this chapter.
(4)In this subsection, the term qualifying date
means the first date on which the contributions received or expenditures made
by the nonparticipating primary candidate described in paragraph (2)(B) exceed
the amount described under either clause (i) or clause (ii) of such
paragraph.
.
(B)Section 9034(b) of such Code, as amended by section 2,
is amended by striking subsection (a)
and inserting
subsections (a) and (c)
.
(2)Increase in
expenditure limitSection 315(b) of the Federal Election Campaign
Act of 1971 (2 U.S.C. 441a(b)) is amended by adding at the end the following
new paragraph:
(3)(A)In the case of an
eligible candidate, each of the limitations under clause (i) and (ii) of
paragraph (1)(A) shall be increased—
(i)by $50,000,000, if any
nonparticipating primary candidate of the same political party as such
candidate receives contributions or makes expenditures with respect to the
campaign in an aggregate amount greater than 120 percent of the expenditure
limitation applicable to eligible candidates under clause (i) or (ii) of
paragraph (1)(A) (before the application of this clause), and
(ii)by $100,000,000, if such
nonparticipating primary candidate receives contributions or makes expenditures
with respect to the campaign in an aggregate amount greater than 120 percent of
the expenditure limitation applicable to eligible candidates under clause (i)
or (ii) of paragraph (1)(A) after the application of clause (i).
(B)Each dollar amount under subparagraph
(A) shall be considered a limitation under this subsection for purposes of
subsection (c).
(C)In this paragraph, the term
eligible candidate means, with respect to any period, a
candidate—
(i)who is eligible to receive payments
under section 9033 of the Internal Revenue Code of 1986;
(ii)who is opposed by a nonparticipating
primary candidate; and
(iii)with respect to whom the Commission
has given notice under section 304(j)(1)(B)(i).
(D)In this paragraph, the term
nonparticipating primary candidate means, with respect to any
eligible candidate, a candidate for nomination for election for the office of
President who is not eligible under section 9033 of the Internal Revenue Code
of 1986 to receive payments from the Secretary of the Treasury under chapter 96
of such
Code.
.
(b)Candidates in
general elections
(1)
(A)Section 9004(a)(1) of the Internal Revenue Code of 1986
is amended—
(i)by
striking (1) The eligible candidates
and inserting (1)(A)
Except as provided in subparagraph (B), the eligible candidates
;
and
(ii)by
adding at the end the following new subparagraph:
(B)In addition to the payments described
in subparagraph (A), each eligible candidate of a major party in a presidential
election with an opponent in the election who is not eligible to receive
payments under section 9006 and who receives contributions or makes
expenditures with respect to the primary and general elections in an aggregate
amount greater than 120 percent of the combined expenditure limitations
applicable to eligible candidates under section 315(b)(1) of the
Federal Election Campaign Act of 1971
shall be entitled to an equal payment under section 9006 in an amount equal to
100 percent of the expenditure limitation applicable under such section with
respect to a campaign for election to the office of
President.
.
(B)Special rule for
minor party candidatesSection 9004(a)(2)(A) of such Code is
amended—
(i)by
striking (A) The eligible candidates
and inserting (A)(i)
Except as provided in clause (ii), the eligible candidates
; and
(ii)by
adding at the end the following new clause:
(ii)In addition to the payments described
in clause (i), each eligible candidate of a minor party in a presidential
election with an opponent in the election who is not eligible to receive
payments under section 9006 and who receives contributions or makes
expenditures with respect to the primary and general elections in an aggregate
amount greater than 120 percent of the combined expenditure limitations
applicable to eligible candidates under section 315(b)(1) of the
Federal Election Campaign Act of 1971
shall be entitled to an equal payment under section 9006 in an amount equal to
100 percent of the payment to which such candidate is entitled under clause
(i).
.
(2)Exclusion of
additional payment from determination of expenditure
limitsSection 315(b) of the Federal Election Campaign Act of 1971 (2 U.S.C.
441a(b)), as amended by subsection (a), is amended by adding at the end the
following new paragraph:
(4)In the case of a candidate who is
eligible to receive payments under section 9004(a)(1)(B) or 9004(a)(2)(A)(ii)
of the Internal Revenue Code of 1986, the limitation under paragraph (1)(B)
shall be increased by the amount of such payments received by the
candidate.
.
(c)Process for
determination of eligibility for additional payment and increased expenditure
limitsSection 304 of the Federal Election Campaign Act of 1971
(2 U.S.C. 434) is amended by adding at the end the following new
subsection:
(j)Reporting and
certification for additional public financing payments for candidates
(1)
(A)Notification of
expenditures by ineligible candidates
(i)Expenditures in
excess of 120 percent of
limitIf a candidate for a nomination for election for the office
of President who is not eligible to receive payments under section 9033 of the
Internal Revenue Code of 1986 receives contributions or makes expenditures with
respect to the primary election in an aggregate amount greater than 120 percent
of the expenditure limitation applicable to eligible candidates under clause
(i) or (ii) of section 315(b)(1)(A), the candidate shall notify the Commission
in writing that the candidate has received aggregate contributions or made
aggregate expenditures in such an amount not later than 24 hours after first
receiving aggregate contributions or making aggregate expenditures in such an
amount.
(ii)Expenditures in
excess of 120 percent of increased
limitIf a candidate for a nomination for election for the office
of President who is not eligible to receive payments under section 9033 of the
Internal Revenue Code of 1986 receives contributions or makes expenditures with
respect to the primary election in an aggregate amount greater than 120 percent
of the expenditure limitation applicable to eligible candidates under section
315(b) after the application of paragraph (3)(A)(i) thereof, the candidate
shall notify the Commission in writing that the candidate has received
aggregate contributions or made aggregate expenditures in such an amount not
later than 24 hours after first receiving aggregate contributions or making
aggregate expenditures in such an amount.
(B)Not
later than 24 hours after receiving any written notice under subparagraph (A)
from a candidate, the Commission shall—
(i)certify to the
Secretary of the Treasury that opponents of the candidate are eligible for
additional payments under section 9034(c) of the Internal Revenue Code of
1986;
(ii)notify each
opponent of the candidate who is eligible to receive payments under section
9033 of the Internal Revenue Code of 1986 of the amount of the increased
limitation on expenditures which applies pursuant to section 315(b)(3);
and
(iii)in the case of a
notice under subparagraph (A)(i), notify the national committee of each
political party (other than the political party with which the candidate is
affiliated) of the inapplicability of expenditure limits under section
315(d)(2) pursuant to subparagraph (C) thereof.
(2)General election
candidates
(A)Notification of
expenditures by ineligible candidatesIf a candidate in a
presidential election who is not eligible to receive payments under section
9006 of the Internal Revenue Code of 1986 receives contributions or makes
expenditures with respect to the primary and general elections in an aggregate
amount greater than 120 percent of the combined expenditure limitations
applicable to eligible candidates under section 315(b)(1), the candidate shall
notify the Commission in writing that the candidate has received aggregate
contributions or made aggregate expenditures in such an amount not later than
24 hours after first receiving aggregate contributions or making aggregate
expenditures in such an amount.
(B)Not
later than 24 hours after receiving a written notice under subparagraph (A),
the Commission shall certify to the Secretary of the Treasury for payment to
any eligible candidate who is entitled to an additional payment under paragraph
(1)(B) or (2)(A)(ii) of section 9004(a) of the Internal Revenue Code of 1986
that the candidate is entitled to payment in full of the additional payment
under such
section.
.
6.Establishment of
uniform date for release of payments from Presidential Election Campaign Fund
to eligible candidates
(a)The first sentence of section 9006(b) of the Internal
Revenue Code of 1986 is amended to read as follows: “If the Secretary of the
Treasury receives a certification from the Commission under section 9005 for
payment to the eligible candidates of a political party, the Secretary shall,
on the last Friday occurring before the first Monday in September, pay to such
candidates of the fund the amount certified by the Commission.”.
(b)The first sentence of section 9006(c) of such Code is
amended by striking the time of a certification by the Comptroller
General under section 9005 for payment
and inserting the time of
making a payment under subsection (b)
.
7.Revisions to
designation of income tax payments by individual taxpayers
(a)Increase in
amount designatedSection 6096(a) of the Internal Revenue Code of
1986 is amended—
(1)in the first
sentence, by striking $3
each place it appears and inserting
$10
; and
(2)in the second
sentence—
(A)by striking
$6
and inserting $20
; and
(B)by striking
$3
and inserting $10
.
(b)Section
6096 of such Code is amended by adding at the end the following new
subsection:
(d)Indexing of
amount designated
(1)With respect to each taxable year after 2008, each amount
referred to in subsection (a) shall be increased by the percent difference
described in paragraph (2), except that if any such amount after such an
increase is not a multiple of $1, such amount shall be rounded to the nearest
multiple of $1.
(2)Percent
difference describedThe percent difference described in this
paragraph with respect to a taxable year is the percent difference determined
under section 315(c)(1)(A) of the Federal
Election Campaign Act of 1971 with respect to the calendar year
during which the taxable year begins, except that the base year involved shall
be
2008.
.
(c)Ensuring tax
preparation software does not provide automatic response to designation
questionSection 6096 of such Code, as amended by subsection (b),
is amended by adding at the end the following new subsection:
(e)Ensuring tax
preparation software does not provide automatic response to designation
questionThe Secretary shall promulgate regulations to ensure
that electronic software used in the preparation or filing of individual income
tax returns does not automatically accept or decline a designation of a payment
under this
section.
.
(d)Public
information program on designationSection 6096 of such Code, as
amended by subsections (b) and (c), is amended by adding at the end the
following new subsection:
(f)Public
information program
(1)The Federal Election Commission shall conduct a program
to inform and educate the public regarding the purposes of the Presidential
Election Campaign Fund, the procedures for the designation of payments under
this section, and the effect of such a designation on the income tax liability
of taxpayers.
(2)Amounts in the Presidential Election Campaign Fund shall
be made available to the Federal Election Commission to carry out the program
under this subsection, except that the amount made available for this purpose
may not exceed $10,000,000 with respect to any Presidential election cycle. In
this paragraph, a Presidential election cycle
is the 4-year
period beginning with January of the year following a Presidential
election.
.
(e)The amendments made by this section shall take effect on the
date of the enactment of this Act.
8.Amounts in
Presidential Election Campaign Fund
(a)Determination of
amounts in fundSection
9006(c) of the Internal Revenue Code of 1986 is amended by adding at the end
the following new sentence: In making a determination of whether there
are insufficient moneys in the fund for purposes of the previous sentence, the
Secretary shall take into account in determining the balance of the fund for a
Presidential election year the Secretary’s best estimate of the amount of
moneys which will be deposited into the fund during the year, except that the
amount of the estimate may not exceed the average of the annual amounts
deposited in the fund during the previous 3 years.
.
(b)Special rule for
first campaign cycle under this Act
(1)Section 9006 of the Internal Revenue Code of 1986 is
amended by adding at the end the following new subsection:
(d)Special
authority To borrow
(1)Notwithstanding subsection (c), there are authorized to
be appropriated to the fund, as repayable advances, such sums as are necessary
to carry out the purposes of the fund during the period ending on the first
presidential election occurring after the date of the enactment of this
subsection.
(2)
(A)Advances made to the fund shall be repaid, and interest
on such advances shall be paid, to the general fund of the Treasury when the
Secretary determines that moneys are available for such purposes in the
fund.
(B)Interest on advances made to the fund shall be at a rate
determined by the Secretary of the Treasury (as of the close of the calendar
month preceding the month in which the advance is made) to be equal to the
current average market yield on outstanding marketable obligations of the
United States with remaining periods to maturity comparable to the anticipated
period during which the advance will be outstanding and shall be compounded
annually.
.
(2)The amendment made by this subsection shall take effect on
the date of the enactment of this Act.
9.Regulation of
convention financingSection
323 of the Federal Election Campaign Act of 1971 (2 U.S.C. 441i) is amended by
adding at the end the following new subsection:
(g)Any person described in subsection (e) shall not
solicit, receive, direct, transfer, or spend any funds in connection with a
presidential nominating convention of any political party, including funds for
a host committee, civic committee, municipality, or any other person or entity
spending funds in connection with such a convention, unless such funds—
(1)are not in excess
of the amounts permitted with respect to contributions to the political
committee established and maintained by a national political party committee
under section 315; and
(2)are not from
sources prohibited by this Act from making contributions in connection with an
election for Federal
office.
.
10.Disclosure of
bundled contributions to presidential campaigns
(a)Paragraphs (1) through (3) of section 304(i) of the
Federal Election Campaign Act of 1971 (2 U.S.C. 434(i)) are amended to read as
follows:
(1)
(A)Disclosure of
bundled contributions by lobbyistsEach committee described in
paragraph (6) shall include in the first report required to be filed under this
section after each covered period (as defined in paragraph (2)) a separate
schedule setting forth the name, address, and employer of each person
reasonably known by the committee to be a person described in paragraph (7) who
provided 2 or more bundled contributions to the committee in an aggregate
amount greater than the applicable threshold (as defined in paragraph (3))
during the covered period, and the aggregate amount of the bundled
contributions provided by each such person during the covered period.
(B)Disclosure of
bundled contributions to presidential campaignsEach committee
which is an authorized committee of a candidate for the office of President or
for nomination to such office shall include in the first report required to be
filed under this section after each covered period (as defined in paragraph
(2)) a separate schedule setting forth the name, address, and employer of each
person who provided 2 or more bundled contributions to the committee in an
aggregate amount greater than the applicable threshold (as defined in paragraph
(3)) during the election cycle, and the aggregate amount of the bundled
contributions provided by each such person during the covered period and such
election cycle. Such schedule shall include a separate listing of the name,
address, and employer of each person included on such schedule who is
reasonably known by the committee to be a person described in paragraph (7),
together with the aggregate amount of bundled contributions provided by such
person during such period and such cycle.
(2)In this subsection, a covered period
means—
(A)with respect to a
committee which is an authorized committee of a candidate for the office of
President or for nomination to such office—
(i)the 4-year
election cycle ending with the date of the election for the office of the
President; and
(ii)any reporting
period applicable to the committee under this section during which any person
provided 2 or more bundled contributions to the committee; and
(B)with respect to
any other committee—
(i)the period
beginning January 1 and ending June 30 of each year;
(ii)the period
beginning July 1 and ending December 31 of each year; and
(iii)any reporting
period applicable to the committee under this section during which any person
described in paragraph (7) provided 2 or more bundled contributions to the
committee in an aggregate amount greater than the applicable threshold.
(3)
(A)In this subsection, the applicable threshold
is—
(i)$50,000 in the
case of a committee which is an authorized committee of a candidate for the
office of President or for nomination to such office; and
(ii)$15,000 in the
case of any other committee.
In
determining whether the amount of bundled contributions provided to a committee
by a person exceeds the applicable threshold, there shall be excluded any
contribution made to the committee by the person or the person's spouse.(B)In
any calendar year after 2007, section 315(c)(1)(B) shall apply to each amount
applicable under subparagraph (A) in the same manner as such section applies to
the limitations established under subsections (a)(1)(A), (a)(1)(B), (a)(3), and
(h) of such section, except that for purposes of applying such section to the
amount applicable under subparagraph (A), the base period
shall
be
2006.
.
(b)Subsection (i) of section 304 of such Act (2 U.S.C.
434) is amended—
(1)in paragraph (5),
by striking described in paragraph (7)
each place it appears in
subparagraphs (C) and (D);
(2)in paragraph (6),
by inserting (other than a candidate for the office of President or for
nomination to such office)
after candidate
; and
(3)in paragraph
(8)(A)—
(A)by striking
, with respect to a committee described in paragraph (6) and a person
described in paragraph (7),
and inserting , with respect to a
committee described in paragraph (6) or an authorized committee of a candidate
for the office of President or for nomination to such office,
;
(B)by striking
by the person
in clause (i) thereof and inserting by any
person
; and
(C)by striking
the person
each place it appears in clause (ii) and inserting
such person
.
(c)The amendments made by this section shall apply with respect
to reports filed under section 304 of the Federal Election Campaign Act of 1971
after January 1, 2009.
11.Repeal of
priority in use of funds for political conventions
(a)Section 9008(a) of the Internal Revenue Code of 1986 is
amended by striking the period at the end of the second sentence and all that
follows and inserting the following: , except that the amount deposited
may not exceed the amount available after the Secretary determines that amounts
for payments under section 9006 and section 9037 are available for such
payments.
.
(b)The second sentence of section 9037(a) of such Code is
amended by striking section 9006(c) and for payments under section
9008(b)(3)
and inserting section 9006
.
12.
(a)Removal of
prohibition on increasing fees for permitsSection 365 of the
Energy Policy Act of 2005 (42 U.S.C. 15924) is amended—
(1)by striking
subsection (i); and
(2)by redesignating
subsection (j) as subsection (i).
(b)Disposal of
moneys from sales, bonuses, rentals, and royaltiesSection 20 of
the Geothermal Steam Act of 1970 (30 U.S.C. 1019) is amended to read as
follows:
20.Disposal of
moneys from sales, bonuses, rentals, and royaltiesSubject
to section 35 of the Mineral Leasing Act (30 U.S.C. 192), all funds received
from the sales, bonuses, royalties, and rentals under this Act (including
payments referred to in section 6) shall be disposed of in the same manner as
funds received pursuant to section 6 of this Act or section 35 of the Mineral
Leasing Act (30 U.S.C. 192), as the case may
be.
.
(c)Royalty for
hardrock miningThe Revised Statutes are amended by inserting
after section 2352 (30 U.S.C. 76) the following:
2353.
(a)Definition of
locatable mineralIn this section:
(1)The term locatable mineral means any
mineral, the legal and beneficial title to which remains in the United States
and that is not subject to disposition under—
(A)the Mineral Leasing Act (30 U.S.C. 181 et
seq.);
(B)the Act of August 7, 1947 (commonly known
as the Mineral Leasing Act for Acquired Lands
) (30 U.S.C. 351 et
seq.);
(C)the Act of July 31, 1947 (commonly known as
the Materials Act of 1947
) (30 U.S.C. 601 et seq.); or
(D)the Geothermal Steam Act of 1970 (30 U.S.C.
1001 et seq.).
(2)The
term locatable mineral does not include any mineral that is
subject to a restriction against alienation imposed by the United States and
is—
(A)held in trust by
the United States for any Indian or Indian tribe (as defined in section 2 of
the Indian Mineral Development Act of 1982 (25 U.S.C. 2101)); or
(B)owned by any
Indian or Indian tribe (s defined in section 2 of that Act).
(b)Except as otherwise provided in this
section, production of all locatable minerals from any mining claim located
under the general mining laws, or mineral concentrates or products derived from
locatable minerals from any such mining claim, as the case may be, shall be
subject to a royalty of 8 percent of the gross income from mining.
(c)The claim holder or
any operator to whom the claim holder has assigned the obligation to make
royalty payments under the claim, and any person who controls the claim holder
or operator, shall be liable for payment of royalties under this
section.
(d)Royalty for
Federal land subject to existing permitThe royalty under
subsection (b) shall be 4 percent in the case of any Federal land that—
(1)is subject to an
operations permit on the date of enactment of this section; and
(2)produces valuable
locatable minerals in commercial quantities on the date of enactment of this
section.
(e)Federal land
added to existing operations permitAny Federal land added through a plan
modification to an operations permit that is submitted after the date of
enactment of this section shall be subject to the royalty that applies to
Federal land under subsection (b).
(f)Amounts
received by the United States as royalties under this section shall be
deposited into the general fund of the
Treasury.
.
(d)Hardrock mining
claim maintenance fee
(1)
(A)Except as provided in section 2511(e)(2) of the Energy
Policy Act of 1992 (30 U.S.C. 242(e)(2)), for each unpatented mining claim,
mill, or tunnel site on federally owned land, whether located before, on, or
after enactment of this Act, each claimant shall pay to the Secretary, on or
before August 31 of each year, a claim maintenance fee of $150 per claim to
hold the unpatented mining claim, mill, or tunnel site for the assessment year
beginning at noon on September 1.
(B)A claim maintenance fee described in subparagraph (A)
shall be in lieu of—
(i)the
assessment work requirement in section 2324 of the Revised Statutes (30 U.S.C.
28); and
(ii)the related
filing requirements in subsections (a) and (c) of section 314 of the Federal
Land Policy and Management Act of 1976 (43 U.S.C. 1744).
(C)
(i)The claim maintenance fee required under subparagraph (A)
shall be waived for a claimant who certifies in writing to the Secretary that
on the date the payment was due, the claimant and all related parties—
(I)held not more than
10 mining claims, mill sites, or tunnel sites, or any combination of mining
claims, mill sites, or tunnel sites, on public land; and
(II)have performed
assessment work required under section 2324 of the Revised Statutes (30 U.S.C.
28) to maintain the mining claims held by the claimant and all related parties
for the assessment year ending on noon of September 1 of the calendar year in
which payment of the claim maintenance fee was due.
(ii)Definition of
all related partiesIn clause (i), with the respect to any
claimant, the term all related parties
means—
(I)the spouse and
dependent children (as defined in section 152 of the Internal Revenue Code of
1986), of the claimant; or
(II)a
person affiliated with the claimant, including—
- (aa)a
person controlled by, controlling, or under common control with the claimant;
or
- (bb)a
subsidiary or parent company or corporation of the claimant.
(D)
(i)Not less than 5 years after the date of enactment of this
Act, and every 5 years thereafter, or more frequently if the Secretary
determines an adjustment to be reasonable, the Secretary shall adjust the claim
maintenance fee required under subparagraph (A) to reflect changes for the
12-month period ending the preceding November 30 in the Consumer Price Index
for All Urban Consumers published by the Bureau of Labor Statistics of the
Department of Labor.
(ii)Not
later than July 1 of any year in which an adjustment is made under clause (i),
the Secretary shall provide claimants notice of the adjustment.
(iii)A
fee adjustment under clause (i) shall be effective beginning January 1 of the
calendar year following the calendar year in which the adjustment is
made.
(2)Notwithstanding any other provision of law, for each
unpatented mining claim, mill, or tunnel site located during the period
beginning on the date of enactment of this Act and ending on September 30,
1998, the locator shall, at the time the location notice is recorded with the
Bureau of Land Management, pay to the Secretary a location fee, in addition to
the fee required by paragraph (1), of $50 per claim.
(3)Amounts received under paragraph (1) or (2)
that are not otherwise allocated for the administration of the mining laws by
the Department of the Interior shall be deposited into the general fund of the
Treasury.
(4)The
co-ownership provisions of section 2324 of the Revised Statutes (30 U.S.C. 28)
shall remain in effect except that the annual claim maintenance fee, if
applicable, shall replace applicable assessment requirements and
expenditures.
(5)Failure to pay the claim maintenance fee required by
paragraph (1) shall conclusively constitute a forfeiture of the unpatented
mining claim, mill, or tunnel site by the claimant and the claim shall be
considered to be null and void by operation of law.
(6)
(A)Nothing in this section changes or modifies the
requirements of subsections (b) or (c) of section 314(b) of the Federal Land
Policy and Management Act of 1976 (43 U.S.C.
1744).
(B)Section 2324 of the Revised Statutes of the United
States (30 U.S.C.
28) is amended by inserting or section 12(d)(1) of the
Presidential Funding Act of
2007
after Act of 1993,
.
(e)Section 6(a) of the Public Rangelands Improvement Act of
1978 (43 U.S.C. 1905) is amended by striking the $1.23 base
and
all that follows through previous year's fee
and inserting
an amount determined in the same manner as the State in which the land
is located determines the amount of fees charged for public grazing on land
owned by the State, as determined by the Secretary of Agriculture and the
Secretary of the Interior, as appropriate
.
(f)The amendments made by this section shall take effect on the
date of the enactment of this Act.
13.Except as otherwise
provided in this Act, the amendments made by this Act shall apply with respect
to elections occurring after January 1, 2009.