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Title: Campaign Finance Reform bill
Vote Smart's Synopsis:
Vote to pass a bill that imposes campaign finance reforms on the Federal Election Campaign Act of 1971 (FECA) in order to change certain Federal election regulations.
- Bars national, state, district, or local committees from soliciting funds from tax-exempt organizations, or organizations that have applied for tax-exempt status.
- Bans individuals from contributing more than $10,000 to a State party during an election cycle.
- Increases from $25,000 to $30,000 the annual aggregate limit on individual political contributions.
- Redefines the term "contribution" to include communications that express advocacy for or against a party or individual, as well as payments made in support of a candidate running for Federal office.
- Redefines the term "Expenditure" to include payments made for communications provided in coordination with the candidate, the candidate's agent, or the candidate's political party for the express purpose of influencing a Federal election.
- Requires that reports be filed with the Federal Elections Commission (FEC) for persons contributing an aggregate of $1,000 or more after the 20th day before an election, or an aggregate of $10,000 over 20 days before an election.
- Obliges parties to report any contribution over $200 to the FEC, including the name and address of the donor, and the name of the candidate the money is meant to support or oppose.
- Forbids parties from making both coordinated and independent expenditures to a candidate after he or she had been officially nominated.
- Mandates that the FEC file reports electronically and make them publicly accessible on the Internet within 24 hours of their receipt.
- Extends the time period within which a campaign audit may be started from 6 to 12 months within a scheduled election date.
- Lowers the minimum contribution for the reporting of contributor identification from $200 to $50.
- Requires only the name and address of a person contributing between $50 and $200.
- Directs the FEC to declare that a candidate is eligible if the candidate and the candidate's committees do not exceed a personal funds expenditure limit of $50,000.
- Prohibits foreign nationals and persons under the age of 18 from contributing to candidates or political parties.
- Amends FECA to mandate between 1 and 10 years imprisonment for anyone who willfully violates its provisions.