Sec. 3. Limit on interest rate paid by campaign committees on loans made by candidates
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Section 302 of the Federal Election Campaign Act of 1971 ( 2 U.S.C. 432 ), as amended by section 2, is further amended by adding at the end the following new subsection: If an authorized committee of a candidate accepts a loan from the candidate, the committee may not pay interest on the loan at an annual rate higher than the prime rate as of the date the loan is agreed to plus 2 percentage points. In this subsection, the term prime rate means the bank prime loan rate published in the Federal Reserve Statistical Release on selected interest rates (daily or weekly), and commonly referred to as the H.15 release (or any successor publication). . The amendment made by subsection
(a)shall apply with respect to loans made on or after the date of the enactment of this Act.
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Sec. 3
Limit on interest rate paid by campaign committees on loans made by candidates
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