117 S428 IS: Empower Act of 2021
U.S. Senate
2021-02-24
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.
1.Short title; table of contents(a)This Act may be cited as the Empower Act of 2021
.(b)The table of contents of this Act is as follows:Sec. 1. Short title; table of contents.Title I—Primary ElectionsSec. 101. Increase in and modifications to matching payments.Sec. 102. Eligibility requirements for matching payments.Sec. 103. Repeal of expenditure limitations.Sec. 104. Period of availability of matching payments.Sec. 105. Examination and audits of matchable contributions.Sec. 106. Modification to limitation on contributions for Presidential primary candidates.Sec. 107. Use of Freedom From Influence Fund as source of payments.Title II—General ElectionsSec. 201. Modification of eligibility requirements for public financing.Sec. 202. Repeal of expenditure limitations and use of qualified campaign contributions.Sec. 203. Matching payments and other modifications to payment amounts.Sec. 204. Increase in limit on coordinated party expenditures.Sec. 205. Establishment of uniform date for release of payments.Sec. 206. Amounts in Presidential Election Campaign Fund.Sec. 207. Use of general election payments for general election legal and accounting compliance.Sec. 208. Use of Freedom From Influence Fund as source of payments.Title III—Freedom From Influence FundSec. 301. Freedom From Influence Fund.Sec. 302. Assessments against fines and penalties.Title IV—Effective DateSec. 401. Effective date.<enum>I</enum><header>Primary Elections</header><section id="HD9663DF31193461CBF0538DC8DC6D7C3"><enum>101.</enum><header>Increase in and modifications to matching payments</header><subsection id="H50FD02B136B94301AB67CD6964170A5D"><enum>(a)</enum><header>Increase and modification</header><paragraph id="H7F3C97209A984BA0A0345C598E4F1543"><enum>(1)</enum><header>In general</header><text>The first sentence of <external-xref legal-doc="usc" parsable-cite="usc/26/9034">section 9034(a)</external-xref> of the Internal Revenue Code of 1986 is amended—</text><subparagraph id="H7B8457D16A3F4FB480A42A5202C763B0"><enum>(A)</enum><text>by striking <quote>an amount equal to the amount of each contribution</quote> and inserting <quote>an amount equal to 600 percent of the amount of each matchable contribution (disregarding any amount of contributions from any person to the extent that the total of the amounts contributed by such person for the election exceeds $200)</quote>; and</text></subparagraph><subparagraph id="H12011F43EC6F461EB6EFAF8C47A8569F"><enum>(B)</enum><text>by striking <quote>authorized committees</quote> and all that follows through <quote>$250</quote> and inserting <quote>authorized committees</quote>.</text></subparagraph></paragraph><paragraph id="HD9DB8F61E2E444E3A77C82AA46213D1C"><enum>(2)</enum><header>Matchable contributions</header><text>Section 9034 of such Code is amended—</text><subparagraph id="H7A27AC7F3549429D968ACF55FD89315A"><enum>(A)</enum><text>by striking the last sentence of subsection (a); and</text></subparagraph><subparagraph id="H88A2AF7BA0264A71A65CF107899F31CD"><enum>(B)</enum><text>by adding at the end the following new subsection:</text><quoted-block style="OLC" display-inline="no-display-inline" id="HB1EA5ED19B744D1C828EE70914409940"><subsection id="HA61DF4C5D7EC43C48C2404568535D810"><enum>(c)</enum><header>Matchable contribution defined</header><text>For purposes of this section and section 9033(b)—</text><paragraph id="H854D5408D8E04942BF829C79EC031E1F"><enum>(1)</enum><header>Matchable contribution</header><text>The term <term>matchable contribution</term> means, with respect to the nomination for election to the office of President of the United States, a contribution by an individual to a candidate or an authorized committee of a candidate with respect to which the candidate has certified in writing that—</text><subparagraph id="H46C228779CE7401AB8693AEBEB514D04"><enum>(A)</enum><text display-inline="yes-display-inline">the individual making such contribution has not made aggregate contributions (including such matchable contribution) to such candidate and the authorized committees of such candidate in excess of $1,000 for the election;</text></subparagraph><subparagraph id="H4F792AFD5F69408C97667E1A4910AE55"><enum>(B)</enum><text>such candidate and the authorized committees of such candidate will not accept contributions from such individual (including such matchable contribution) aggregating more than the amount described in subparagraph (A); and</text></subparagraph><subparagraph commented="no" id="H304F1190B3C94FEF913B33D59B09E303"><enum>(C)</enum><text>such contribution was a direct contribution.</text></subparagraph></paragraph><paragraph id="H4CC22E3A414F425898A4B61887C8D8BB"><enum>(2)</enum><header>Contribution</header><text>For purposes of this subsection, the term <term>contribution</term> means a gift of money made by a written instrument which identifies the individual 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).</text></paragraph><paragraph id="H39BCC38E4DB144F3A219CE212B77C99D"><enum>(3)</enum><header>Direct contribution</header><subparagraph id="H38900B5186934173B45841858EA557E1"><enum>(A)</enum><header>In general</header><text display-inline="yes-display-inline">For purposes of this subsection, the term <term>direct contribution</term> means, with respect to a candidate, a contribution which is made directly by an individual to the candidate or an authorized committee of the candidate and is not—</text><clause id="H085A456A49E04DCEBD8793EE7193AF09"><enum>(i)</enum><text>forwarded from the individual making the contribution to the candidate or committee by another person; or</text></clause><clause id="HB630B4781D6446828820504EDA8D7AA0"><enum>(ii)</enum><text>received by the candidate or committee with the knowledge that the contribution was made at the request, suggestion, or recommendation of another person.</text></clause></subparagraph><subparagraph id="H10C1E0C8BE4246E3ADE8887958587E7E"><enum>(B)</enum><header>Other definitions</header><text>In subparagraph (A)—</text><clause id="H697BC630BAA341EC801406CE2C3B0B6D"><enum>(i)</enum><text display-inline="yes-display-inline">the term <term>person</term> does not include an individual (other than an individual described in section 304(i)(7) of the Federal Election Campaign Act of 1971), a political committee of a political party, or any political committee which is not a separate segregated fund described in section 316(b) of the Federal Election Campaign Act of 1971 and which does not make contributions or independent expenditures, does not engage in lobbying activity under the Lobbying Disclosure Act of 1995 (<external-xref legal-doc="usc" parsable-cite="usc/2/1601">2 U.S.C. 1601</external-xref> et seq.), and is not established by, controlled by, or affiliated with a registered lobbyist under such Act, an agent of a registered lobbyist under such Act, or an organization which retains or employs a registered lobbyist under such Act; and</text></clause><clause id="HC442CBC4B80545D6AB52767428723D12"><enum>(ii)</enum><text display-inline="yes-display-inline">a contribution is not <quote>made at the request, suggestion, or recommendation of another person</quote> solely on the grounds that the contribution is made in response to information provided to the individual making the contribution by any person, so long as the candidate or authorized committee does not know the identity of the person who provided the information to such individual.</text></clause></subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block></subparagraph></paragraph><paragraph id="H5B95282432AE4F05AEC4540539071CB3"><enum>(3)</enum><header>Conforming amendments</header><subparagraph id="H5B828A509FC6496ABD66472AFD5C150D"><enum>(A)</enum><text>Section 9032(4) of such Code is amended by striking <quote>section 9034(a)</quote> and inserting <quote>section 9034</quote>.</text></subparagraph><subparagraph id="H3530B6581E2C48D0B3D9AF2913EDB9ED"><enum>(B)</enum><text>Section 9033(b)(3) of such Code is amended by striking <quote>matching contributions</quote> and inserting <quote>matchable contributions</quote>.</text></subparagraph></paragraph></subsection><subsection id="HD54583D96866403398ED254DE2F9657D"><enum>(b)</enum><header>Modification of payment limitation</header><text>Section 9034(b) of such Code is amended—</text><paragraph id="HE2CC885BA48642DB9CC55372D59D5E33"><enum>(1)</enum><text>by striking <quote>The total</quote> and inserting the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H086CDDB3E352478BACCDB93C2CE72C5B"><paragraph id="H8036DC47911D4D76B9533A1FB7392D88"><enum>(1)</enum><header>In general</header><text>The total</text></paragraph><after-quoted-block>; </after-quoted-block></quoted-block></paragraph><paragraph id="HCEAF9218F6BE4310A45B91AB0316F3BB"><enum>(2)</enum><text>by striking <quote>shall not exceed</quote> and all that follows and inserting <quote>shall not exceed $250,000,000.</quote>; and</text></paragraph><paragraph id="HEA5B933EE7684A92B7CA84DDF19041CF"><enum>(3)</enum><text>by adding at the end the following new paragraph:</text><quoted-block style="OLC" display-inline="no-display-inline" id="HED4723AA241D460C83CD8C5E67C2558A"><paragraph id="H5A9E5CF8601A4119B3C9401255C874B9"><enum>(2)</enum><header>Inflation adjustment</header><subparagraph id="HDBA7D6399CB143F8B384446D7A1F8F9C"><enum>(A)</enum><header>In general</header><text>In the case of any applicable period beginning after 2029, the dollar amount in paragraph (1) shall be increased by an amount equal to—</text><clause id="HADD8D207AFAB4B6A9439E241769F6B7E"><enum>(i)</enum><text>such dollar amount, multiplied by</text></clause><clause id="H36CF2718129A43A982C0F05090567388"><enum>(ii)</enum><text>the cost-of-living adjustment determined under section 1(f)(3) for the calendar year following the year which such applicable period begins, determined by substituting <quote>calendar year 2028</quote> for <quote>calendar year 1992</quote> in subparagraph (B) thereof.</text></clause></subparagraph><subparagraph id="H7854849BF3CE4CAD8B1335CA6360BB81"><enum>(B)</enum><header>Applicable period</header><text>For purposes of this paragraph, the term <term>applicable period</term> means the 4-year period beginning with the first day following the date of the general election for the office of President and ending on the date of the next such general election.</text></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H2E268CAD0DD64B9D934DD5BF8D5880FA"><enum>(C)</enum><header>Rounding</header><text>If any amount as adjusted under subparagraph (1) is not a multiple of $10,000, such amount shall be rounded to the nearest multiple of $10,000.</text></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection></section><section id="H815A7D937F204582BB100B4BB11F23F2"><enum>102.</enum><header>Eligibility requirements for matching payments</header><subsection id="H1CEADAB13F67410185FB275D7A567532"><enum>(a)</enum><header>Amount of aggregate contributions per State; disregarding of amounts contributed in excess of $200</header><text><external-xref legal-doc="usc" parsable-cite="usc/26/9033">Section 9033(b)(3)</external-xref> of the Internal Revenue Code of 1986 is amended—</text><paragraph id="HC91C903A90DC44AFA43F0C086815DFF9"><enum>(1)</enum><text>by striking <quote>$5,000</quote> and inserting <quote>$25,000</quote>; and</text></paragraph><paragraph id="H800BC0665BFD4A0BA84A648D1868AE45"><enum>(2)</enum><text>by striking <quote>20 States</quote> and inserting the following: <quote>20 States (disregarding any amount of contributions from any such resident to the extent that the total of the amounts contributed by such resident for the election exceeds $200)</quote>.</text></paragraph></subsection><subsection id="H03B5956A94014A29B80A5B68D7FAD844"><enum>(b)</enum><header>Contribution limit</header><paragraph id="H94EC661E6D0646DC8E0444441990B711"><enum>(1)</enum><header>In general</header><text>Paragraph (4) of section 9033(b) of such Code is amended to read as follows:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H8A4F2A29563B4D5B93CE675765C7E414"><paragraph id="HDD26726048BA40C682C1692BBBA0BB15"><enum>(4)</enum><text>the candidate and the authorized committees of the candidate will not accept aggregate contributions from any person with respect to the nomination for election to the office of President of the United States in excess of $1,000 for the election.</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph><paragraph commented="no" id="H9A110DF5B83647359152B4E2194E0C3B"><enum>(2)</enum><header>Conforming amendments</header><subparagraph commented="no" id="H690973BCE1024CEF80962968567CAF6A"><enum>(A)</enum><text>Section 9033(b) of such Code is amended by adding at the end the following new flush sentence:</text><quoted-block style="OLC" display-inline="no-display-inline" id="HBE7F3BD763724B27B1B5F61C0F7F3D8B"><quoted-block-continuation-text commented="no" quoted-block-continuation-text-level="subsection">For purposes of paragraph (4), the term <term>contribution</term> has the meaning given such term in section 301(8) of the Federal Election Campaign Act of 1971.</quoted-block-continuation-text><after-quoted-block>.</after-quoted-block></quoted-block></subparagraph><subparagraph commented="no" id="H71B49231943543F694C4A0B99D7695D5"><enum>(B)</enum><text>Section 9032(4) of such Code, as amended by section 101(a)(3)(A), is amended by striking <quote>section 9034</quote> and inserting <quote>section 9033(b) or 9034</quote>.</text></subparagraph></paragraph></subsection><subsection id="HE8C0847A0599446398C2210D4040975B"><enum>(c)</enum><header>Participation in system for payments for general election</header><text>Section 9033(b) of such Code is amended—</text><paragraph id="HA2F51497C07E4E209CC24F902EBBD0FA"><enum>(1)</enum><text>by striking <quote>and</quote> at the end of paragraph (3);</text></paragraph><paragraph id="H85DE70F1C09942958D89C07792FD4237"><enum>(2)</enum><text>by striking the period at the end of paragraph (4) and inserting <quote>, and</quote>; and</text></paragraph><paragraph id="H0C91C8FEADF14F20A64C9055A3DFFB38"><enum>(3)</enum><text>by inserting after paragraph (4) the following new paragraph:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H704CFC29ECF14F9FA31E027F26680C8F"><paragraph id="HD1FDD01531FB4F2EA5F7D58ECA410B0A"><enum>(5)</enum><text>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.</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection><subsection id="HE84FC19D686D4338A6AC96C35C74B80C"><enum>(d)</enum><header>Prohibition on joint fundraising committees</header><text display-inline="yes-display-inline">Section 9033(b) of such Code, as amended by subsection (c), is amended—</text><paragraph id="H68A06DCF21574C698A10AA21CF79C24B"><enum>(1)</enum><text>by striking <quote>and</quote> at the end of paragraph (4);</text></paragraph><paragraph id="HF2E0CDD8CE7C4825BE2D2E047D3DA375"><enum>(2)</enum><text>by striking the period at the end of paragraph (5) and inserting <quote>; and</quote>; and</text></paragraph><paragraph id="HACB7330D41624019B6609D488FCB4B49"><enum>(3)</enum><text>by inserting after paragraph (5) the following new paragraph:</text><quoted-block style="traditional" display-inline="no-display-inline" id="HFBE0894E8343404CA7285D27366F0418"><paragraph id="HCDBE019455CC4081B2D6AA17E98F28D2"><enum>(6)</enum><text display-inline="yes-display-inline">the candidate will not establish a joint fundraising committee with a political committee other than another authorized committee of the candidate, except that candidate established a joint fundraising committee with respect to a prior election for which the candidate was not eligible to receive payments under section 9037 and the candidate does not terminate the committee, the candidate shall not be considered to be in violation of this paragraph so long as that joint fundraising committee does not receive any contributions or make any disbursements during the election cycle for which the candidate is eligible to receive payments under such section.</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection></section><section id="HBBCFA7DEDAA14D57BF79C79B5AD55B82"><enum>103.</enum><header>Repeal of expenditure limitations</header><subsection id="H54BA333C4A7A4E969F54F765223CAF71"><enum>(a)</enum><header>In general</header><text>Subsection (a) of <external-xref legal-doc="usc" parsable-cite="usc/26/9035">section 9035</external-xref> of the Internal Revenue Code of 1986 is amended to read as follows:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H9BC9059E761C43D6B450F866C72D2499"><subsection id="HB99C1E0D3B954BCF9E7CF96D13D75699"><enum>(a)</enum><header>Personal expenditure limitation</header><text>No candidate shall knowingly make expenditures from his personal funds, or the personal funds of his immediate family, in connection with his campaign for nomination for election to the office of President in excess of, in the aggregate, $50,000.</text></subsection><after-quoted-block>.</after-quoted-block></quoted-block></subsection><subsection id="HC65999AC6FC941A083CC9815C339B1DB"><enum>(b)</enum><header>Conforming amendment</header><text>Paragraph (1) of <external-xref legal-doc="usc" parsable-cite="usc/26/9033">section 9033(b)</external-xref> of the Internal Revenue Code of 1986 is amended to read as follows:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H57F9B5586B384C1F9B83AF0411638CC3"><paragraph id="H781093FB0A094E77802501F86A27302B"><enum>(1)</enum><text>the candidate will comply with the personal expenditure limitation under section 9035,</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection></section><section id="HE1622456D9D74A789515322FDA6B7C8F"><enum>104.</enum><header>Period of availability of matching payments</header><text display-inline="no-display-inline"><external-xref legal-doc="usc" parsable-cite="usc/26/9032">Section 9032(6)</external-xref> of the Internal Revenue Code of 1986 is amended by striking <quote>the beginning of the calendar year in which a general election for the office of President of the United States will be held</quote> and inserting <quote>the date that is 6 months prior to the date of the earliest State primary election</quote>.</text></section><section id="H2B61D19B9BFA4523AD5EC10B269C3E5E"><enum>105.</enum><header>Examination and audits of matchable contributions</header><text display-inline="no-display-inline"><external-xref legal-doc="usc" parsable-cite="usc/26/9038">Section 9038(a)</external-xref> of the Internal Revenue Code of 1986 is amended by inserting <quote>and matchable contributions accepted by</quote> after <quote>qualified campaign expenses of</quote>.</text></section><section commented="no" display-inline="no-display-inline" id="HDA1D9E2C36464A26A1D13455492AFBCA"><enum>106.</enum><header>Modification to limitation on contributions for Presidential primary candidates</header><text display-inline="no-display-inline">Section 315(a)(6) of the Federal Election Campaign Act of 1971 (<external-xref legal-doc="usc" parsable-cite="usc/52/30116">52 U.S.C. 30116(a)(6)</external-xref>) is amended by striking <quote>calendar year</quote> and inserting <quote>four-year election cycle</quote>.</text></section><section id="H2441DCA8EA544F40BAC2FA136AF896FC"><enum>107.</enum><header>Use of Freedom From Influence Fund as source of payments</header><subsection id="HABCCC6A112C848B2BFDC7BB8B8E9A0F5"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Chapter 96 of subtitle H of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H5F9DF6AF1ECF45BCB0FF1BD0C4672CE1"><section id="H8E1ACCC859734E90B00844C50A7390F5"><enum>9043.</enum><header>Use of Freedom From Influence Fund as source of payments</header><subsection id="HC63B262453344274B9CC1B8D19738EAD"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Notwithstanding any other provision of this chapter, effective with respect to the Presidential election held in 2028 and each succeeding Presidential election, all payments made to candidates under this chapter shall be made from the Freedom From Influence Fund established under title III of the Empower Act of 2021 (hereafter in this section referred to as the <quote>Fund</quote>).</text></subsection><subsection id="H34F4740CD3734119A879E6F1913CFF96"><enum>(b)</enum><header>Mandatory reduction of payments in case of insufficient amounts in Fund</header><paragraph id="HE713BD41741A47A3A4DCD08752AD2BB2"><enum>(1)</enum><header>Advance audits by Commission</header><text display-inline="yes-display-inline">Not later than 90 days before the first day of each Presidential election cycle (beginning with the cycle for the election held in 2028), the Commission shall—</text><subparagraph id="HEA37D24208CE4923A7CF17EF425A3070"><enum>(A)</enum><text display-inline="yes-display-inline">audit the Fund to determine whether the amounts remaining in the Fund will be sufficient to make payments to candidates under this chapter in the amounts provided under this chapter during such election cycle; and</text></subparagraph><subparagraph id="HEE7A2A1EFADE464FA0DFB925E2D257F0"><enum>(B)</enum><text>submit a report to Congress describing the results of the audit.</text></subparagraph></paragraph><paragraph id="HCC6262B869324E87B3F26555A950CD77"><enum>(2)</enum><header>Reductions in amount of payments</header><subparagraph id="HD80AAC70EB3C47D6B5879A2154CC9556"><enum>(A)</enum><header>Automatic reduction on pro rata basis</header><text>If, on the basis of the audit described in paragraph (1), the Commission determines that the amount anticipated to be available in the Fund with respect to the Presidential election cycle involved is not, or may not be, sufficient to satisfy the full entitlements of candidates to payments under this chapter for such cycle, the Commission shall reduce each amount which would otherwise be paid to a candidate under this chapter by such pro rata amount as may be necessary to ensure that the aggregate amount of payments anticipated to be made with respect to the cycle will not exceed the amount anticipated to be available for such payments in the Fund with respect to such cycle.</text></subparagraph><subparagraph id="HF7545C8CFEDF436CA42CA7EF0ED38EB0"><enum>(B)</enum><header>Restoration of reductions in case of availability of sufficient funds during election cycle</header><text>If, after reducing the amounts paid to candidates with respect to an election cycle under subparagraph (A), the Commission determines that there are sufficient amounts in the Fund to restore the amount by which such payments were reduced (or any portion thereof), to the extent that such amounts are available, the Commission may make a payment on a pro rata basis to each such candidate with respect to the election cycle in the amount by which such candidate’s payments were reduced under subparagraph (A) (or any portion thereof, as the case may be).</text></subparagraph><subparagraph id="H5E9472BD79E6444889B45675D642EFA9"><enum>(C)</enum><header>No use of amounts from other sources</header><text>In any case in which the Commission determines that there are insufficient moneys in the Fund to make payments to candidates under this chapter, moneys shall not be made available from any other source for the purpose of making such payments.</text></subparagraph></paragraph><paragraph id="H3ABEC8369CFD41E9AA78E14E240DE4B3"><enum>(3)</enum><header>No effect on amounts transferred for pediatric research initiative</header><text>This section does not apply to the transfer of funds under section 9008(i).</text></paragraph><paragraph id="HF449EF5111A4432AA112CD3959B30246"><enum>(4)</enum><header>Presidential election cycle defined</header><text>In this section, the term <term>Presidential election cycle</term> means, with respect to a Presidential election, the period beginning on the day after the date of the previous Presidential general election and ending on the date of the Presidential election.</text></paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block></subsection><subsection id="H4ECFB168F29D422DB21248F8D1DBAFAC"><enum>(b)</enum><header>Clerical amendment</header><text>The table of sections for chapter 96 of subtitle H of such Code is amended by adding at the end the following new item:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H5CDA2729EE264A99B5892E31B51654C7"><toc regeneration="no-regeneration"><toc-entry level="section">Sec. 9043. Use of Freedom From Influence Fund as source of payments.</toc-entry></toc><after-quoted-block>.</after-quoted-block></quoted-block></subsection></section><enum>II</enum><header>General Elections</header><section id="HA9AB44A36BC249C1840B9E90CD0EDCA4"><enum>201.</enum><header>Modification of eligibility requirements for public financing</header><text display-inline="no-display-inline">Subsection (a) of <external-xref legal-doc="usc" parsable-cite="usc/26/9003">section 9003</external-xref> of the Internal Revenue Code of 1986 is amended to read as follows:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H2F5E37840E9D45628D20D47159781B17"><subsection id="H31A68FCD5C8949BE95742F07289E2788"><enum>(a)</enum><header>In general</header><text>In order to be eligible to receive any payments under section 9006, the candidates of a political party in a Presidential election shall meet the following requirements:</text><paragraph commented="no" display-inline="no-display-inline" id="H7E141DCA440349C8BB4996656EA032D2"><enum>(1)</enum><header>Participation in primary payment system</header><text>The candidate for President received payments under chapter 96 for the campaign for nomination for election to be President.</text></paragraph><paragraph id="HBB9D33F6B4B745C58CE1DEE5646C5318"><enum>(2)</enum><header>Agreements with Commission</header><text>The candidates, in writing—</text><subparagraph id="H7EC67AB0AACF47BBBD6F2B13C6E123FC"><enum>(A)</enum><text>agree to obtain and furnish to the Commission such evidence as it may request of the qualified campaign expenses of such candidates,</text></subparagraph><subparagraph id="H5B4A884F20EB4E1283A6D7702EF088B6"><enum>(B)</enum><text>agree to keep and furnish to the Commission such records, books, and other information as it may request, and</text></subparagraph><subparagraph id="HA18F066E7A5D4968BA432EC603B19F9A"><enum>(C)</enum><text>agree to an audit and examination by the Commission under section 9007 and to pay any amounts required to be paid under such section.</text></subparagraph></paragraph><paragraph id="HCD91D4DF14FE495DA153C68E1D5AE6F8"><enum>(3)</enum><header>Prohibition on joint fundraising committees</header><subparagraph id="HF81CDC57B9D5483CBD92D2B1FD2C194B"><enum>(A)</enum><header>Prohibition</header><text>The candidates certifies in writing that the candidates will not establish a joint fundraising committee with a political committee other than another authorized committee of the candidate.</text></subparagraph><subparagraph id="HF7F3B8688D824236B208541C039C52B1"><enum>(B)</enum><header>Status of existing committees for prior elections</header><text>If a candidate established a joint fundraising committee described in subparagraph (A) with respect to a prior election for which the candidate was not eligible to receive payments under section 9006 and the candidate does not terminate the committee, the candidate shall not be considered to be in violation of subparagraph (A) so long as that joint fundraising committee does not receive any contributions or make any disbursements with respect to the election for which the candidate is eligible to receive payments under section 9006.</text></subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block></section><section commented="no" display-inline="no-display-inline" id="H1478BEC6D6C74787B74CC419AC61BEFC"><enum>202.</enum><header>Repeal of expenditure limitations and use of qualified campaign contributions</header><subsection commented="no" display-inline="no-display-inline" id="H24E5AFF6B06A48F4B0E21CA25A77DA5E"><enum>(a)</enum><header>Use of qualified campaign contributions without expenditure limits; application of same requirements for major, minor, and new parties</header><text><external-xref legal-doc="usc" parsable-cite="usc/26/9003">Section 9003</external-xref> of the Internal Revenue Code of 1986 is amended by striking subsections (b) and (c) and inserting the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H419D15A65EB44D3AADF229D5C96B6A9A"><subsection commented="no" display-inline="no-display-inline" id="H12E41746981943498FE8A5AFE8B0D4C2"><enum>(b)</enum><header>Use of Qualified Campaign Contributions To Defray Expenses</header><paragraph id="H356FFE8DE4984DDEBD6A7533E75F4FCD"><enum>(1)</enum><header>In general</header><text>In order to be eligible to receive any payments under section 9006, the candidates of a party in a Presidential election shall certify to the Commission, under penalty of perjury, that—</text><subparagraph commented="no" display-inline="no-display-inline" id="H0EEE0EEB5EB943DA9364B090A4975B91"><enum>(A)</enum><text>such candidates and their authorized committees have not and will not accept any contributions to defray qualified campaign expenses other than—</text><clause commented="no" display-inline="no-display-inline" id="HE078A223003A46FB8284E45C23DC9120"><enum>(i)</enum><text>qualified campaign contributions, and</text></clause><clause commented="no" display-inline="no-display-inline" id="H0405341577AC4DE5B780DE8901419EBA"><enum>(ii)</enum><text>contributions to the extent necessary to make up any deficiency payments received out of the fund on account of the application of section 9006(c), and</text></clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HAC288FC69AFF4EF681F430A37DAA3465"><enum>(B)</enum><text>such candidates and their authorized committees have not and will not accept any contribution to defray expenses which would be qualified campaign expenses but for subparagraph (C) of section 9002(11).</text></subparagraph></paragraph><paragraph id="HB67454CD5B2B49C88E68CDB8A0201156"><enum>(2)</enum><header>Timing of certification</header><text>The candidate shall make the certification required under this subsection at the same time the candidate makes the certification required under subsection (a)(3).</text></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block></subsection><subsection id="HFBE06DEBFCC544D8A77A54408D0B9255"><enum>(b)</enum><header>Definition of qualified campaign contribution</header><text>Section 9002 of such Code is amended by adding at the end the following new paragraph:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H6F1B5B37FD6F4F26AF2EC8102B28D271"><paragraph id="H0775E7635DAF4487AB1BC038C380FB26"><enum>(13)</enum><header>Qualified campaign contribution</header><text>The term <term>qualified campaign contribution</term> means, with respect to any election for the office of President of the United States, a contribution from an individual to a candidate or an authorized committee of a candidate which—</text><subparagraph id="H09A12B8FCC9046EC8DEA93175FF7B6EC"><enum>(A)</enum><text display-inline="yes-display-inline">does not exceed $1,000 for the election; and</text></subparagraph><subparagraph id="H77C673FDEC004CA48265F4C15F1812B1"><enum>(B)</enum><text>with respect to which the candidate has certified in writing that—</text><clause id="H226A2A54DE184E2BB84359245CC863AB"><enum>(i)</enum><text>the individual making such contribution has not made aggregate contributions (including such qualified contribution) to such candidate and the authorized committees of such candidate in excess of the amount described in subparagraph (A), and</text></clause><clause commented="no" display-inline="no-display-inline" id="HF35ABE008558456FBFD877577D2C9240"><enum>(ii)</enum><text>such candidate and the authorized committees of such candidate will not accept contributions from such individual (including such qualified contribution) aggregating more than the amount described in subparagraph (A) with respect to such election.</text></clause></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection><subsection id="HDF5A098DB45645E381A0B684E988DEAB"><enum>(c)</enum><header>Conforming amendments</header><paragraph id="HB84620718F034E2682EB980A531745BD"><enum>(1)</enum><header>Repeal of expenditure limits</header><subparagraph id="H787AF60714084374B0A494DCB07B7FFD"><enum>(A)</enum><header>In general</header><text>Section 315 of the Federal Election Campaign Act of 1971 (<external-xref legal-doc="usc" parsable-cite="usc/52/30116">52 U.S.C. 30116</external-xref>) is amended by striking subsection (b).</text></subparagraph><subparagraph id="HA4F6D08A726C46219DA2EC1FFCA094B9"><enum>(B)</enum><header>Conforming amendments</header><text>Section 315(c) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/52/30116">52 U.S.C. 30116(c)</external-xref>) is amended—</text><clause id="HE47D8C4B6C914B7EB532DE7CC6B250BA"><enum>(i)</enum><text>in paragraph (1)(B)(i), by striking <quote>, (b)</quote>; and</text></clause><clause id="H507D845280C6431E98623463CE72E298"><enum>(ii)</enum><text>in paragraph (2)(B)(i), by striking <quote>subsections (b) and (d)</quote> and inserting <quote>subsection (d)</quote>.</text></clause></subparagraph></paragraph><paragraph id="H6C0583FA501C44E6AB68A41C5D06E62A"><enum>(2)</enum><header>Repeal of repayment requirement</header><subparagraph id="H0FB14436F16941D599F86D061E134987"><enum>(A)</enum><header>In general</header><text><external-xref legal-doc="usc" parsable-cite="usc/26/9007">Section 9007(b)</external-xref> of the Internal Revenue Code of 1986 is amended by striking paragraph (2) and redesignating paragraphs (3), (4), and (5) as paragraphs (2), (3), and (4), respectively.</text></subparagraph><subparagraph id="HABC3A92CAC014799A04BFBB5A114406D"><enum>(B)</enum><header>Conforming amendment</header><text>Paragraph (2) of section 9007(b) of such Code, as redesignated by subparagraph (A), is amended—</text><clause id="H69AF101DC3844BCA98563CF5960B1565"><enum>(i)</enum><text>by striking <quote>a major party</quote> and inserting <quote>a party</quote>;</text></clause><clause id="HFC970C8350C24D3ABCE08CB0344A8987"><enum>(ii)</enum><text>by striking <quote>contributions (other than</quote> and inserting <quote>contributions (other than qualified contributions</quote>; and</text></clause><clause id="H6FC8D33370C6417798165CF9D28D0D44"><enum>(iii)</enum><text>by striking <quote>(other than qualified campaign expenses with respect to which payment is required under paragraph (2))</quote>.</text></clause></subparagraph></paragraph><paragraph id="HBB1FF827FBEE4C35815A6955F0B228D7"><enum>(3)</enum><header>Criminal penalties</header><subparagraph id="H667E2050288746D9B6964B1C0198FC5F"><enum>(A)</enum><header>Repeal of penalty for excess expenses</header><text><external-xref legal-doc="usc" parsable-cite="usc/26/9012">Section 9012</external-xref> of the Internal Revenue Code of 1986 is amended by striking subsection (a).</text></subparagraph><subparagraph id="H4AF0964E7E05452A8239207D4CCC1DA4"><enum>(B)</enum><header>Penalty for acceptance of disallowed contributions; application of same penalty for candidates of major, minor, and new parties</header><text display-inline="yes-display-inline">Subsection (b) of section 9012 of such Code is amended to read as follows:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H0F161E14881F46EC8D49BE721B3CD986"><subsection id="HBDE50D6D31FF4C4DB2BBF22B4793AF24"><enum>(b)</enum><header>Contributions</header><paragraph id="H864E01D46EEC45D2B978A92962864408"><enum>(1)</enum><header>Acceptance of disallowed contributions</header><text display-inline="yes-display-inline">It shall be unlawful for an eligible candidate of a party in a Presidential election or any of his authorized committees knowingly and willfully to accept—</text><subparagraph id="H7A0CE36CA5844891B9E1925C74A90426"><enum>(A)</enum><text>any contribution other than a qualified campaign contribution to defray qualified campaign expenses, except to the extent necessary to make up any deficiency in payments received out of the fund on account of the application of section 9006(c); or</text></subparagraph><subparagraph id="H5E087F97072F4C2687F02F8E5BAAD905"><enum>(B)</enum><text>any contribution to defray expenses which would be qualified campaign expenses but for subparagraph (C) of section 9002(11).</text></subparagraph></paragraph><paragraph id="HD3CC5ADA905B4922A2BDB820844E56D8"><enum>(2)</enum><header>Penalty</header><text display-inline="yes-display-inline">Any person who violates paragraph (1) shall be fined not more than $5,000, or imprisoned not more than one year, or both. In the case of a violation by an authorized committee, any officer or member of such committee who knowingly and willfully consents to such violation shall be fined not more than $5,000, or imprisoned not more than one year, or both.</text></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block></subparagraph></paragraph></subsection></section><section id="HDBE7DB9614FE4D91A94BAA11247CFE46"><enum>203.</enum><header>Matching payments and other modifications to payment amounts</header><subsection id="HFDF7A77E620445FDAACFFEAD40FC13F2"><enum>(a)</enum><header>In general</header><paragraph id="HDD3768FE64384C0DA17CC89A2F70A29D"><enum>(1)</enum><header>Amount of payments; application of same amount for candidates of major, minor, and new parties</header><text display-inline="yes-display-inline">Subsection (a) of <external-xref legal-doc="usc" parsable-cite="usc/26/9004">section 9004</external-xref> of the Internal Revenue Code of 1986 is amended to read as follows:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H87C4208CA1E7420D868B5DA6F2EA4921"><subsection id="HA61CC99BB057464EAC5507212C3961FD"><enum>(a)</enum><header>In general</header><text>Subject to the provisions of this chapter, the eligible candidates of a party in a Presidential election shall be entitled to equal payment under section 9006 in an amount equal to 600 percent of the amount of each matchable contribution received by such candidate or by the candidate’s authorized committees (disregarding any amount of contributions from any person to the extent that the total of the amounts contributed by such person for the election exceeds $200), except that total amount to which a candidate is entitled under this paragraph shall not exceed $250,000,000.</text></subsection><after-quoted-block>.</after-quoted-block></quoted-block></paragraph><paragraph id="H1CCC33E3BC944C74A9995415CD5EB78B"><enum>(2)</enum><header>Repeal of separate limitations for candidates of minor and new parties; inflation adjustment</header><text>Subsection (b) of section 9004 of such Code is amended to read as follows:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H319C81F84C0D4FA98DACAC75B62E9A57"><subsection id="H732E202195254DCC8DFCDE7C64E0C97A"><enum>(b)</enum><header>Inflation adjustment</header><paragraph id="H5E6414B9F952473BA60079A5BB2909B2"><enum>(1)</enum><header>In general</header><text>In the case of any applicable period beginning after 2029, the $250,000,000 dollar amount in subsection (a) shall be increased by an amount equal to—</text><subparagraph id="HDD31A82B4FA243819DE72CF037A67B94"><enum>(A)</enum><text>such dollar amount; multiplied by</text></subparagraph><subparagraph id="HC9FF2A582DAA41B7A6EFBF6FDAA7E55C"><enum>(B)</enum><text>the cost-of-living adjustment determined under section 1(f)(3) for the calendar year following the year which such applicable period begins, determined by substituting <quote>calendar year 2028</quote> for <quote>calendar year 1992</quote> in subparagraph (B) thereof.</text></subparagraph></paragraph><paragraph id="HD1FC028180B54459A5D8B9E13814C2E5"><enum>(2)</enum><header>Applicable period</header><text>For purposes of this subsection, the term <term>applicable period</term> means the 4-year period beginning with the first day following the date of the general election for the office of President and ending on the date of the next such general election.</text></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H32E017452AED4A56A0F8656D78CBC80F"><enum>(3)</enum><header>Rounding</header><text>If any amount as adjusted under paragraph (1) is not a multiple of $10,000, such amount shall be rounded to the nearest multiple of $10,000.</text></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block></paragraph><paragraph id="H01D1AA57492841FA8D7AF99A0BA61229"><enum>(3)</enum><header>Conforming amendment</header><text>Section 9005(a) of such Code is amended by adding at the end the following new sentence: <quote>The Commission shall make such additional certifications as may be necessary to receive payments under section 9004.</quote>.</text></paragraph></subsection><subsection id="H1617BA0794004B09B10791CFA911B607"><enum>(b)</enum><header>Matchable contribution</header><text>Section 9002 of such Code, as amended by section 202(b), is amended by adding at the end the following new paragraph:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H485F5255DC014A2BA95D69BE4F34AB38"><paragraph id="H63504E19AEF7462EA032A03B28EC7505"><enum>(14)</enum><header>Matchable contribution</header><text>The term <term>matchable contribution</term> means, with respect to the election to the office of President of the United States, a contribution by an individual to a candidate or an authorized committee of a candidate with respect to which the candidate has certified in writing that—</text><subparagraph id="H97D1F1E683E54448BDB3BC95022A0FD6"><enum>(A)</enum><text>the individual making such contribution has not made aggregate contributions (including such matchable contribution) to such candidate and the authorized committees of such candidate in excess of $1,000 for the election;</text></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H6D1258AD1D4F472FAFAD90D825EC275F"><enum>(B)</enum><text>such candidate and the authorized committees of such candidate will not accept contributions from such individual (including such matchable contribution) aggregating more than the amount described in subparagraph (A) with respect to such election; and</text></subparagraph><subparagraph commented="no" id="HB0DCC2514A114FCB896FD229016EEB9A"><enum>(C)</enum><text>such contribution was a direct contribution (as defined in section 9034(c)(3)).</text></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection></section><section id="H1ADE902F296F47BAB707E88C09354967"><enum>204.</enum><header>Increase in limit on coordinated party expenditures</header><subsection id="HA2B419F93C084243B866B159E8C169BA"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Section 315(d)(2) of the <act-name parsable-cite="FECA">Federal Election Campaign Act of 1971</act-name> (<external-xref legal-doc="usc" parsable-cite="usc/52/30116">52 U.S.C. 30116(d)(2)</external-xref>) is amended to read as follows:</text><quoted-block style="OLC" display-inline="no-display-inline" id="HD24E7FA8C79E400A95B5A372DE4B8F23"><paragraph id="H738CAAD855B04D7685465871B966E1DE" indent="up1"><enum>(2)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="HB8B7A29BF09843A48E045198D82088E3"><enum>(A)</enum><text>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 $100,000,000.</text></subparagraph><subparagraph id="HBDE6A61B49044F6C9D34B09164D33F6C" indent="up1"><enum>(B)</enum><text>For purposes of this paragraph—</text><clause id="H878002DD9D8A41398C66920E3F1BA5F0"><enum>(i)</enum><text>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</text></clause><clause id="H85EDA2882D5049E3BF83D803DD993B65"><enum>(ii)</enum><text>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.</text></clause></subparagraph><subparagraph id="H564BB679A5FB45F293C0FC9CA11758A7" indent="up1"><enum>(C)</enum><text>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.</text></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection><subsection id="H9C823EFA19B144ABB87CE2F838955664"><enum>(b)</enum><header>Conforming Amendments Relating to Timing of Cost-of-Living Adjustment</header><paragraph id="HC4E7A09E8E0E4FC0AC76873861EBDB95"><enum>(1)</enum><header>In general</header><text>Section 315(c)(1) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/52/30116">52 U.S.C. 30116(c)(1)</external-xref>) is amended—</text><subparagraph id="HE85D34BE6882474A95902F921BD8B68F"><enum>(A)</enum><text>in subparagraph (B), by striking <quote>(d)</quote> and inserting <quote>(d)(2)</quote>; and</text></subparagraph><subparagraph id="HA550845DD352478D803AD6B520EF7FFB"><enum>(B)</enum><text>by adding at the end the following new subparagraph:</text><quoted-block style="OLC" display-inline="no-display-inline" id="HBF7031600D844E7B99B919D2DF098E1D"><subparagraph id="HFFD148DDED404079A6B8EA8A43C0AE2C" indent="up2"><enum>(D)</enum><text>In any calendar year after 2028—</text><clause id="HE2B319B4C4674E0E98FD0A9C190EB6EA"><enum>(i)</enum><text>the dollar amount in subsection (d)(2) shall be increased by the percent difference determined under subparagraph (A);</text></clause><clause id="H1A7C20DA483D40CB9237869F65B1BA26"><enum>(ii)</enum><text>the amount so increased shall remain in effect for the calendar year; and</text></clause><clause id="HEAE08D786F784D0EAB560B60C5284866"><enum>(iii)</enum><text>if the amount after adjustment under clause (i) is not a multiple of $100, such amount shall be rounded to the nearest multiple of $100.</text></clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block></subparagraph></paragraph><paragraph id="HB268318A1588463BB273BFB1BBDF37DA"><enum>(2)</enum><header>Base year</header><text>Section 315(c)(2)(B) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/52/30116">52 U.S.C. 30116(c)(2)(B)</external-xref>) is amended—</text><subparagraph id="H1FEB64776E9E407884EECD927AC1BD39"><enum>(A)</enum><text>in clause (i)—</text><clause id="H4C8BF61E6EF84E42A6E8C412BABFAFB5"><enum>(i)</enum><text>by striking <quote>(d)</quote> and inserting <quote>(d)(3)</quote>; and</text></clause><clause id="H4A6084F070F64126AAEDF4AE59C548A4"><enum>(ii)</enum><text>by striking <quote>and</quote> at the end;</text></clause></subparagraph><subparagraph id="HD6E4666798DC4AA69B2088A74F344B02"><enum>(B)</enum><text>in clause (ii), by striking the period at the end and inserting <quote>; and</quote>; and</text></subparagraph><subparagraph id="H90BE168A31B44440BFBBD5AC692960F1"><enum>(C)</enum><text>by adding at the end the following new clause:</text><quoted-block id="H228C29098E0A42A6A5BAF4BF91620D8F"><clause id="H730003E823C747FE9EFAF89D3D4022F3" indent="up1"><enum>(iii)</enum><text>for purposes of subsection (d)(2), calendar year 2027.</text></clause><after-quoted-block>.</after-quoted-block></quoted-block></subparagraph></paragraph></subsection></section><section id="HF6305D33F3044BA2B04C3B1E7B0D281E"><enum>205.</enum><header>Establishment of uniform date for release of payments</header><subsection id="H5D609B7E62324E32BB74FBFA50F28BF8"><enum>(a)</enum><header>Date for payments</header><paragraph id="H86BAB936E10243BC9802EEDF18FBEDF3"><enum>(1)</enum><header>In general</header><text><external-xref legal-doc="usc" parsable-cite="usc/26/9006">Section 9006(b)</external-xref> of the Internal Revenue Code of 1986 is amended to read as follows:</text><quoted-block style="OLC" display-inline="no-display-inline" id="HBE84FC927C514A489CBAB38D96E0EB6C"><subsection id="HBE00CF850E914D6882F72B4AE8BBC4A2"><enum>(b)</enum><header>Payments from the Fund</header><text>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 pay to such candidates out of the fund the amount certified by the Commission on the later of—</text><paragraph id="H667829F3A0F7402F907B9B997DB3087F"><enum>(1)</enum><text>the last Friday occurring before the first Monday in September; or</text></paragraph><paragraph id="H5752DE6EEDCD47DAB0589DCF05E2E3C6"><enum>(2)</enum><text>24 hours after receiving the certifications for the eligible candidates of all major political parties.</text></paragraph><continuation-text continuation-text-level="subsection">Amounts paid to any such candidates shall be under the control of such candidates.</continuation-text></subsection><after-quoted-block>.</after-quoted-block></quoted-block></paragraph><paragraph id="HAD374B675BFE4A539EF578226D6DACCE"><enum>(2)</enum><header>Conforming Amendment</header><text>The first sentence of section 9006(c) of such Code is amended by striking <quote>the time of a certification by the Commission under section 9005 for payment</quote> and inserting <quote>the time of making a payment under subsection (b)</quote>.</text></paragraph></subsection><subsection id="HB087F1996C1E488D9145DB01C7E5A570"><enum>(b)</enum><header>Time for certification</header><text><external-xref legal-doc="usc" parsable-cite="usc/26/9005">Section 9005(a)</external-xref> of the Internal Revenue Code of 1986 is amended by striking <quote>10 days</quote> and inserting <quote>24 hours</quote>.</text></subsection></section><section id="H29399EC5F4D443B2BCB1C9AA86B6214C"><enum>206.</enum><header>Amounts in Presidential Election Campaign Fund</header><text display-inline="no-display-inline"><external-xref legal-doc="usc" parsable-cite="usc/26/9006">Section 9006(c)</external-xref> of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: <quote>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.</quote>.</text></section><section commented="no" display-inline="no-display-inline" section-type="subsequent-section" id="HF6FA491D479B4479A074EEE31362675F"><enum>207.</enum><header>Use of general election payments for general election legal and accounting compliance</header><text display-inline="no-display-inline"><external-xref legal-doc="usc" parsable-cite="usc/26/9002">Section 9002(11)</external-xref> of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: <quote>For purposes of subparagraph (A), an expense incurred by a candidate or authorized committee for general election legal and accounting compliance purposes shall be considered to be an expense to further the election of such candidate.</quote>.</text></section><section id="HE98CE87798CD4FDBA20A106A586981C2"><enum>208.</enum><header>Use of Freedom From Influence Fund as source of payments</header><subsection id="H8A809ABB01404B3588249CEF06E69E24"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Chapter 95 of subtitle H of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H572652F1E21C4123980490579F29FC65"><section id="H69E2E166E6824C06A347E670C1FEB845"><enum>9013.</enum><header>Use of Freedom From Influence Fund as source of payments</header><subsection id="H46C7A0E68D1244DB9CF7569FB495327A"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Notwithstanding any other provision of this chapter, effective with respect to the Presidential election held in 2028 and each succeeding Presidential election, all payments made under this chapter shall be made from the Freedom From Influence Fund established under title III of the Empower Act of 2021.</text></subsection><subsection id="HBC497F94CCF34348AC266B0610AD930F"><enum>(b)</enum><header>Mandatory reduction of payments in case of insufficient amounts in Fund</header><paragraph id="HFFEA22D581F14B308F770226595F7D80"><enum>(1)</enum><header>Advance audits by Commission</header><text display-inline="yes-display-inline">Not later than 90 days before the first day of each Presidential election cycle (beginning with the cycle for the election held in 2028), the Commission shall—</text><subparagraph id="H7CC1151299FD4CC2AE7FD50310418DE7"><enum>(A)</enum><text display-inline="yes-display-inline">audit the Fund to determine whether, after first making payments to candidates under chapter 96, the amounts remaining in the Fund will be sufficient to make payments to candidates under this chapter in the amounts provided under this chapter during such election cycle; and</text></subparagraph><subparagraph id="H8653CFF7A58C407C963F52F54A2ABE89"><enum>(B)</enum><text>submit a report to Congress describing the results of the audit.</text></subparagraph></paragraph><paragraph id="H3B22FEA974A54938ACCEFFE5A5352F00"><enum>(2)</enum><header>Reductions in amount of payments</header><subparagraph id="H4356449B314E43B4A3B887BC1AB5417F"><enum>(A)</enum><header>Automatic reduction on pro rata basis</header><text>If, on the basis of the audit described in paragraph (1), the Commission determines that the amount anticipated to be available in the Fund with respect to the Presidential election cycle involved is not, or may not be, sufficient to satisfy the full entitlements of candidates to payments under this chapter for such cycle, the Commission shall reduce each amount which would otherwise be paid to a candidate under this chapter by such pro rata amount as may be necessary to ensure that the aggregate amount of payments anticipated to be made with respect to the cycle will not exceed the amount anticipated to be available for such payments in the Fund with respect to such cycle.</text></subparagraph><subparagraph id="H3E9B676D14E2456A937BB9D15C362E51"><enum>(B)</enum><header>Restoration of reductions in case of availability of sufficient funds during election cycle</header><text>If, after reducing the amounts paid to candidates with respect to an election cycle under subparagraph (A), the Commission determines that there are sufficient amounts in the Fund to restore the amount by which such payments were reduced (or any portion thereof), to the extent that such amounts are available, the Commission may make a payment on a pro rata basis to each such candidate with respect to the election cycle in the amount by which such candidate’s payments were reduced under subparagraph (A) (or any portion thereof, as the case may be).</text></subparagraph><subparagraph id="H42E598378FFA4B49AABBABEA6CCE1385"><enum>(C)</enum><header>No use of amounts from other sources</header><text>In any case in which the Commission determines that there are insufficient moneys in the Fund to make payments to candidates under this chapter, moneys shall not be made available from any other source for the purpose of making such payments.</text></subparagraph></paragraph><paragraph id="H7ED5187814BC46FAA46600A282D80A6B"><enum>(3)</enum><header>No effect on amounts transferred for pediatric research initiative</header><text>This section does not apply to the transfer of funds under section 9008(i).</text></paragraph><paragraph id="H91859BB994564777B0A9848A2E2BC9C2"><enum>(4)</enum><header>Presidential election cycle defined</header><text>In this section, the term <term>Presidential election cycle</term> means, with respect to a Presidential election, the period beginning on the day after the date of the previous Presidential general election and ending on the date of the Presidential election.</text></paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block></subsection><subsection id="HEAC6C500D6B0426BBF96D7A2ACB40F28"><enum>(b)</enum><header>Clerical amendment</header><text>The table of sections for chapter 95 of subtitle H of such Code is amended by adding at the end the following new item:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H01AEF885801C46DAB3D854FD17A36E99"><toc regeneration="no-regeneration"><toc-entry level="section">Sec. 9013. Use of Freedom From Influence Fund as source of payments.</toc-entry></toc><after-quoted-block>.</after-quoted-block></quoted-block></subsection></section><enum>III</enum><header>Freedom From Influence Fund</header><section id="H1F0841B9BC3F48B59C84CBDA769C8F35"><enum>301.</enum><header>Freedom From Influence Fund</header><subsection id="H715D0F37315E421E84D256BB483F9C7C"><enum>(a)</enum><header>Establishment</header><text>There is established in the Treasury a fund to be known as the <quote>Freedom From Influence Fund</quote>.</text></subsection><subsection id="HEB2081B856894EAA9CCE6DC02493A23C"><enum>(b)</enum><header>Amounts held by Fund</header><text display-inline="yes-display-inline">The Fund shall consist of amounts transferred under section 3015 of title 18, United States Code (as added by section 302(a)), section 9706 of title 31, United States Code (as added by section 302(b)), and <external-xref legal-doc="usc" parsable-cite="usc/26/6761">section 6761</external-xref> of the Internal Revenue Code of 1986 (as added by section 302(c)).</text></subsection><subsection id="H5C32834D69BD42B886B3B64A3AC7AADA"><enum>(c)</enum><header>Use of Fund To make payments to candidates</header><text>Amounts in the Fund shall be available without further appropriation or fiscal year limitation—</text><paragraph id="HE51330FF3E6E4E54BB8F22413BC09C68"><enum>(1)</enum><text>to make payments to candidates under chapter 95 of subtitle H of the Internal Revenue Code of 1986, subject to reductions under section 9013(b) of such Code; and</text></paragraph><paragraph id="H8B11A4BA05CC4AC484B7D7F135DD4537"><enum>(2)</enum><text>to make payments to candidates under chapter 96 of subtitle H of the Internal Revenue Code of 1986, subject to reductions under section 9043(b) of such Code.</text></paragraph></subsection><subsection id="H45CC22A12EA84B808078AD09B99175C9"><enum>(d)</enum><header>Effective date</header><text>This section shall take effect on the date of the enactment of this title.</text></subsection></section><section id="HA706FA17F4474A2BBA71FAE7E1142B0A"><enum>302.</enum><header>Assessments against fines and penalties</header><subsection id="H0F53D51AA09845BD800097FB36F4670B"><enum>(a)</enum><header>Assessments relating to criminal offenses</header><paragraph id="H82158D1D9AD540238A42E30CCD4A3973"><enum>(1)</enum><header>In general</header><text><external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/18/201">Chapter 201</external-xref> of title 18, United States Code, is amended by adding at the end the following new section:</text><quoted-block style="USC" display-inline="no-display-inline" id="HB88C3A5404F74F06AC9BBAD8AFBB1C06"><section id="HFDF942AFBD304B759CD2AA215567006D"><enum>3015.</enum><header>Special assessments for Freedom From Influence Fund</header><subsection id="HFC1F36E3F01042A89599614805AB8A2D"><enum>(a)</enum><header>Assessments</header><paragraph id="H78D859C2639A4C8DA145A436CB202123"><enum>(1)</enum><header>Convictions of crimes</header><text>In addition to any assessment imposed under this chapter, the court shall assess on any organizational defendant or any defendant who is a corporate officer or person with equivalent authority in any other organization who is convicted of a criminal offense under Federal law an amount equal to 4.75 percent of any fine imposed on that defendant in the sentence imposed for that conviction.</text></paragraph><paragraph id="HD12A766389E0438FB76AB6F70056E607"><enum>(2)</enum><header>Settlements</header><text display-inline="yes-display-inline">The court shall assess on any organizational defendant or defendant who is a corporate officer or person with equivalent authority in any other organization who has entered into a settlement agreement or consent decree with the United States in satisfaction of any allegation that the defendant committed a criminal offense under Federal law an amount equal to 4.75 percent of the amount of the settlement.</text></paragraph></subsection><subsection id="H91B7C25D37F8446C8242F1CFFCE986E0"><enum>(b)</enum><header>Manner of collection</header><text display-inline="yes-display-inline">An amount assessed under subsection (a) shall be collected in the manner in which fines are collected in criminal cases.</text></subsection><subsection id="H76DC61105EFA42ADBE39E11BB71D131F"><enum>(c)</enum><header>Transfers</header><text display-inline="yes-display-inline">In a manner consistent with section 3302(b) of title 31, there shall be transferred from the General Fund of the Treasury to the Freedom From Influence Fund under title III of the Empower Act of 2021 an amount equal to the amount of the assessments collected under this section.</text></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block></paragraph><paragraph id="HDBB9B732FB9742DB8FD8996DB14FBE1B"><enum>(2)</enum><header>Clerical amendment</header><text>The table of sections of <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/18/201">chapter 201</external-xref> of title 18, United States Code, is amended by adding at the end the following:</text><quoted-block style="USC" display-inline="no-display-inline" id="H07C0CE9C48D14ED98B8A5CAB5136728A"><toc regeneration="no-regeneration"><toc-entry level="section">3015. Special assessments for Freedom From Influence Fund.</toc-entry></toc><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection><subsection id="H96FCFCD037794396963206621E71FC63"><enum>(b)</enum><header>Assessments relating to civil penalties</header><paragraph id="H393E5ABC9A8240399956A852B430174A"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline"><external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/31/97">Chapter 97</external-xref> of title 31, United States Code, is amended by adding at the end the following new section:</text><quoted-block style="USC" display-inline="no-display-inline" id="HBB47973DAC75473480A73DE2A41AB01C"><section id="H0F6EAF90B87246A3AEDC75FE654D93E6"><enum>9706.</enum><header>Special assessments for Freedom From Influence Fund</header><subsection id="H4F158CE1F2FF497AAE20EA6FDEA9D5DD"><enum>(a)</enum><header>Assessments</header><paragraph id="HC84398A32A9D4365A3AD1850C5726300"><enum>(1)</enum><header>Civil penalties</header><text display-inline="yes-display-inline">Any entity of the Federal Government which is authorized under any law, rule, or regulation to impose a civil penalty shall assess on each person, other than a natural person who is not a corporate officer or person with equivalent authority in any other organization, on whom such a penalty is imposed an amount equal to 4.75 percent of the amount of the penalty.</text></paragraph><paragraph id="H1B24B320A3E242FD9389E76717075FDA"><enum>(2)</enum><header>Administrative penalties</header><text display-inline="yes-display-inline">Any entity of the Federal Government which is authorized under any law, rule, or regulation to impose an administrative penalty shall assess on each person, other than a natural person who is not a corporate officer or person with equivalent authority in any other organization, on whom such a penalty is imposed an amount equal to 4.75 percent of the amount of the penalty.</text></paragraph><paragraph id="H72BEDD0B6B954562B3F10DA4B2B68382"><enum>(3)</enum><header>Settlements</header><text display-inline="yes-display-inline">Any entity of the Federal Government which is authorized under any law, rule, or regulation to enter into a settlement agreement or consent decree with any person, other than a natural person who is not a corporate officer or person with equivalent authority in any other organization, in satisfaction of any allegation of an action or omission by the person which would be subject to a civil penalty or administrative penalty shall assess on such person an amount equal to 4.75 percent of the amount of the settlement.</text></paragraph></subsection><subsection id="HFF2331316208438FA8F9E000CCDD7588"><enum>(b)</enum><header>Manner of collection</header><text>An amount assessed under subsection (a) shall be collected—</text><paragraph id="HE04E37C990A64234B131CF20C4E11A30"><enum>(1)</enum><text>in the case of an amount assessed under paragraph (1) of such subsection, in the manner in which civil penalties are collected by the entity of the Federal Government involved;</text></paragraph><paragraph id="HC1FF292264A44A3E907A6B200E462B73"><enum>(2)</enum><text>in the case of an amount assessed under paragraph (2) of such subsection, in the manner in which administrative penalties are collected by the entity of the Federal Government involved; and</text></paragraph><paragraph id="HB9615646279C4627BAFF90C5C158961C"><enum>(3)</enum><text>in the case of an amount assessed under paragraph (3) of such subsection, in the manner in which amounts are collected pursuant to settlement agreements or consent decrees entered into by the entity of the Federal Government involved.</text></paragraph></subsection><subsection id="H3D39B4F2572D4F00B544E621902BDD5C"><enum>(c)</enum><header>Transfers</header><text display-inline="yes-display-inline">In a manner consistent with section 3302(b) of this title, there shall be transferred from the General Fund of the Treasury to the Freedom From Influence Fund under title III of the Empower Act of 2021 an amount equal to the amount of the assessments collected under this section.</text></subsection><subsection id="H85DD1920A3654D7AA4ED0FBE5141D6BE"><enum>(d)</enum><header>Exception for penalties and settlements under authority of the Internal Revenue Code of 1986</header><paragraph id="H3AACC17C215B487FAA77686BF608EB7D"><enum>(1)</enum><header>In general</header><text>No assessment shall be made under subsection (a) with respect to any civil or administrative penalty imposed, or any settlement agreement or consent decree entered into, under the authority of the Internal Revenue Code of 1986.</text></paragraph><paragraph id="H7977B40238B446B0AE0F1F39D1990DCB"><enum>(2)</enum><header>Cross reference</header><text>For application of special assessments for the Freedom From Influence Fund with respect to certain penalties under the Internal Revenue Code of 1986, see <external-xref legal-doc="usc" parsable-cite="usc/26/6761">section 6761</external-xref> of the Internal Revenue Code of 1986.</text></paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block></paragraph><paragraph id="H11ADD3B449054CEB88074AC704974A0D"><enum>(2)</enum><header>Clerical amendment</header><text>The table of sections of <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/31/97">chapter 97</external-xref> of title 31, United States Code, is amended by adding at the end the following:</text><quoted-block style="USC" display-inline="no-display-inline" id="H70BEECF997AC469E85CCEF9944A51D55"><toc regeneration="no-regeneration"><toc-entry level="section">9706. Special assessments for Freedom From Influence Fund.</toc-entry></toc><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection><subsection id="HB04C7710BEF642A38620D75B95CB4170"><enum>(c)</enum><header>Assessments relating to certain penalties under the Internal Revenue Code of 1986</header><paragraph id="HEA42B76B03644093BDEB7798AEEC6CDE"><enum>(1)</enum><header>In general</header><text><external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/26/68">Chapter 68</external-xref> of the Internal Revenue Code of 1986 is amended by adding at the end the following new subchapter:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H4F444A16628D41ABAD9C1E3D0D45D67D"><subchapter id="HD0E401CD2EAB4119BF8D602ED55DAA27"><enum>D</enum><header>Special assessments for Freedom From Influence Fund</header><section id="HC3C33B0B1124426ABF8DC0D5E0EA2386"><enum>6761.</enum><header>Special assessments for Freedom From Influence Fund</header><subsection id="H2B33038BAE7D484386D0A9BE5D7A6528"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Each person required to pay a covered penalty shall pay an additional amount equal to 4.75 percent of the amount of such penalty.</text></subsection><subsection id="HDA3FBBF413C7451EA504F80C410F6D84"><enum>(b)</enum><header>Covered penalty</header><text>For purposes of this section, the term <term>covered penalty</term> means any addition to tax, additional amount, penalty, or other liability provided under subchapter A or B.</text></subsection><subsection id="H93FA3704C7B746BBB837648CEF091965"><enum>(c)</enum><header>Exception for certain individuals</header><paragraph id="H0A6318CAB57F4BB99EE2B1975F73C7F1"><enum>(1)</enum><header>In general</header><text>In the case of a taxpayer who is an individual, subsection (a) shall not apply to any covered penalty if such taxpayer is an exempt taxpayer for the taxable year for which such covered penalty is assessed.</text></paragraph><paragraph id="HDA3DC492AB084DE592354E6E18E8AB27"><enum>(2)</enum><header>Exempt taxpayer</header><text>For purposes of ths subsection, a taxpayer is an exempt taxpayer for any taxable year if the taxable income of such taxpayer for such taxable year does not exceed the dollar amount at which begins the highest rate bracket in effect under section 1 with respect to such taxpayer for such taxable year.</text></paragraph></subsection><subsection commented="no" id="H5DC4441824774E42B3EF968E992F46B5"><enum>(d)</enum><header>Application of certain rules</header><text>Except as provided in subsection (e), the additional amount determined under subsection (a) shall be treated for purposes of this title in the same manner as the covered penalty to which such additional amount relates. </text></subsection><subsection id="HD36081538C104A68A97CC8C399F945E4"><enum>(e)</enum><header>Transfer to Freedom From Influence Fund</header><text display-inline="yes-display-inline">The Secretary shall deposit any additional amount under subsection (a) in the General Fund of the Treasury and shall transfer from such General Fund to the Freedom From Influence Fund established under section title III of the Empower Act of 2021 an amount equal to the amounts so deposited (and, notwithstanding subsection (d), such additional amount shall not be the basis for any deposit, transfer, credit, appropriation, or any other payment, to any other trust fund or account). Rules similar to the rules of section 9601 shall apply for purposes of this subsection.</text></subsection></section></subchapter><after-quoted-block>.</after-quoted-block></quoted-block></paragraph><paragraph id="H4186F4AE689D4213947E77C7C90177F2"><enum>(2)</enum><header>Clerical amendment</header><text>The table of subchapters for chapter 68 of such Code is amended by adding at the end the following new item:</text><quoted-block style="OLC" display-inline="no-display-inline" id="H6C2349D000F046D29CC1424D3ECBAF8C"><toc container-level="quoted-block-container" quoted-block="no-quoted-block" lowest-level="section" idref="H4F444A16628D41ABAD9C1E3D0D45D67D" regeneration="yes-regeneration" lowest-bolded-level="division-lowest-bolded"><toc-entry idref="HD0E401CD2EAB4119BF8D602ED55DAA27" level="subchapter">Subchapter D—Special assessments for Freedom From Influence Fund</toc-entry></toc><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection><subsection id="H197C152A2C544C7CB30824778636304C"><enum>(d)</enum><header>Effective dates</header><paragraph id="H772282BD2840408CBF052255D7F0CC76"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Except as provided in paragraph (2), the amendments made by this section shall apply with respect to convictions, agreements, and penalties which occur on or after the date of the enactment of this Act.</text></paragraph><paragraph commented="no" id="HDA47875E62F04578AC2FBC4FEA1456A3"><enum>(2)</enum><header>Assessments relating to certain penalties under the Internal Revenue Code of 1986</header><text>The amendments made by subsection (c) shall apply to covered penalties assessed after the date of the enactment of this Act.</text></paragraph></subsection></section><enum>IV</enum><header>Effective Date</header><section id="HB2B2816CEB884F47B0EFC854C5EB6E4D"><enum>401.</enum><header>Effective date</header><subsection id="H72E4738385374EB285B8990023B33FB8"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Except as otherwise provided, this Act and the amendments made by this Act shall apply with respect to the Presidential election held in 2028 and each succeeding Presidential election, without regard to whether or not the Federal Election Commission has promulgated the final regulations necessary to carry out this Act and the amendments made by this Act by the deadline set forth in subsection (b).</text></subsection><subsection id="H12756FE8DEA2490AAE7F3E4D3056E148"><enum>(b)</enum><header>Deadline for regulations</header><text>Not later than June 30, 2026, the Federal Election Commission shall promulgate such regulations as may be necessary to carry out this Act and the amendments made by this Act.</text></subsection></section>