[Congressional Record (Bound Edition), Volume 145 (1999), Part 16]
[Senate]
[Pages 23338-23339]
[From the U.S. Government Publishing Office, www.gpo.gov]



                 CAMPAIGN FINANCE INTEGRITY ACT OF 1999

                                 ______
                                 

                       ALLARD AMENDMENT NO. 1887

  (Ordered referred to the Committee on Rules and Administration.)
  Mr. ALLARD submitted an amendment intended to be proposed by him to 
the bill (S. 1671) to reform the financing of Federal elections; as 
follows:


[[Page 23339]]

       At the end of the bill, add the following:

     SEC. __. DEDUCTION FOR POLITICAL CONTRIBUTIONS.

       (a) In General.--Part VII of subchapter B of chapter 1 of 
     the Internal Revenue Code of 1986 is amended by redesignating 
     section 222 as section 223 and inserting after section 221 
     the following new section:

     ``SEC. 222. POLITICAL CONTRIBUTIONS.

       ``(a) Allowance of Deduction.--In the case of an 
     individual, there shall be allowed as a deduction for the 
     taxable year an amount equal to the lesser of--
       ``(1) the aggregate amount of contributions made to any 
     candidate during the taxable year, or
       ``(2) $100 ($200 in the case of a joint return).
       ``(b) Verification.--The credit allowed by subsection (a) 
     shall be allowed, with respect to any contribution, only if 
     such contribution is verified in such manner as the Secretary 
     shall prescribe by regulations.
       ``(c) Definitions.--For purposes of this section, the terms 
     `candidate' and `contribution' have the meaning given those 
     terms in section 301 of the Federal Election Campaign Act of 
     1971.''
       (b) Deduction Allowed Whether or Not Taxpayer Itemizes 
     Other Deductions.--Section 62(a) of the Internal Revenue Code 
     of 1986 (defining adjusted gross income) is amended by 
     inserting after paragraph (17) the following new paragraph:
       ``(18) Political contribution.--The deduction allowed by 
     section 222.''
       (c) Conforming Amendment.--The table of sections for part 
     VII of subchapter B of chapter 1 of the Internal Revenue Code 
     of 1986 is amended by striking the last item and inserting 
     the following new items:

``Sec. 222. Political contribution.
``Sec. 223. Cross reference.''

       (d) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after the date of 
     enactment of this Act.

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