Sec. 5212. Repeal of expenditure limitations and use of qualified campaign contributions
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/bill/116/hr/1/ih/section-5212A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 9003 of the Internal Revenue Code of 1986 is amended by striking subsections
(b)and
(c)and inserting the following: 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— such candidates and their authorized committees have not and will not accept any contributions to defray qualified campaign expenses other than— qualified campaign contributions, and 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 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). The candidate shall make the certification required under this subsection at the same time the candidate makes the certification required under subsection (a)(3). . Section 9002 of such Code is amended by adding at the end the following new paragraph: The term qualified campaign contribution 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— does not exceed $1,000 for the election; and with respect to which the candidate has certified in writing that— 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 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. . Section 315 of the Federal Election Campaign Act of 1971 ( 52 U.S.C. 30116 ) is amended by striking subsection (b). Section 315(c) of such Act ( 52 U.S.C. 30116(c) ) is amended— in paragraph (1)(B)(i), by striking ,
(b); and in paragraph (2)(B)(i), by striking subsections
(b)and
(d)and inserting subsection
(d). Section 9007(b) 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. Paragraph
(2)of section 9007(b) of such Code, as redesignated by subparagraph (A), is amended— by striking a major party and inserting a party ; by inserting qualified contributions and after contributions (other than ; and by striking (other than qualified campaign expenses with respect to which payment is required under paragraph (2)) . Section 9012 of the Internal Revenue Code of 1986 is amended by striking subsection (a). Subsection
(b)of section 9012 of such Code is amended to read as follows: 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— 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 any contribution to defray expenses which would be qualified campaign expenses but for subparagraph
(C)of section 9002(11). 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. .
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Sec. 5212
Repeal of expenditure limitations and use of qualified campaign contributions
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