[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1518 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 1518

  To amend the Federal Election Campaign Act of 1971 to provide for a 
 limitation on the time for the use of contributions or donations, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 19, 2015

  Mr. Takano 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 provide for a 
 limitation on the time for the use of contributions or donations, and 
                          for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Let It Go Act''.

SEC. 2. TIMEFRAME FOR AND PRIORITIZATION OF DISPOSAL OF CONTRIBUTIONS 
              OR DONATIONS.

    Section 313 of the Federal Election Campaign Act of 1971 (52 U.S.C. 
30114) is amended--
            (1) by redesignating subsection (c) as subsection (d); and
            (2) by inserting after subsection (b) the following new 
        subsection:
    ``(c) Disposal.--
            ``(1) Timeframe.--Contributions or donations described in 
        subsection (a) may only be used, in the case of an individual 
        who is not a candidate with respect to an election for any 
        Federal office for a 6-year period beginning on the day after 
        the date of the most recent such election in which the 
        individual was a candidate for any such office, during such 6-
        year period.
            ``(2) Means of disposal; prioritization.--Beginning on the 
        date the 6-year period described in paragraph (1) ends, 
        contributions or donations that remain available to an 
        individual described in such paragraph shall be disposed of, 
        not later than 30 days after such date, as follows:
                    ``(A) First, to pay any debts or obligations owed 
                in connection with the campaign for election for 
                Federal office of the individual.
                    ``(B) Second, to the extent such contribution or 
                donations remain available after the application of 
                subparagraph (A), through any of the following means of 
                disposal (or a combination thereof), in any order the 
                individual considers appropriate:
                            ``(i) Returning such contributions or 
                        donations to the individuals, entities, or 
                        both, who made such contributions or donations.
                            ``(ii) Making contributions to an 
                        organization described in section 170(c) of the 
                        Internal Revenue Code of 1986.
                            ``(iii) Making transfers to a national, 
                        State, or local committee of a political 
                        party.''.

SEC. 3. ONE-YEAR TRANSITION PERIOD FOR CERTAIN INDIVIDUALS.

    (a) In General.--In the case of an individual described in 
subsection (b), any contributions or donations remaining available to 
the individual shall be disposed of--
            (1) not later than one year after the date of the enactment 
        of this Act; and
            (2) in accordance with the prioritization specified in 
        subparagraphs (A) through (D) of subsection (c)(2) of section 
        313 of the Federal Election Campaign Act of 1971 (52 U.S.C. 
        30114), as amended by section 1.
    (b) Individuals Described.--An individual described in this 
subsection is an individual who, as of the date of the enactment of 
this Act--
            (1) is not a candidate with respect to an election for any 
        Federal office for a period of not less than 6 years beginning 
        on the day after the date of the most recent such election in 
        which the individual was a candidate for any such office; and
            (2) would be in violation of subsection (c) of section 313 
        of the Federal Election Campaign Act of 1971 (52 U.S.C. 30114), 
        as amended by section 1.
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