Federal Election Campaign Reform Act

Summary

Federal Election Campaign Reform Act - Title I: Federal Elections Commission - Establishes the Federal Elections Commission as an independent establishment in the executive branch, which shall be composed of six members, no more than three of which shall be of the same party. Provides that two members shall be appointed by the President, two by the Speaker of the House of Representatives and two by the President pro tempore of the Senate. Empowers the Commission to subpoena or require testimony and records. Requires each candidate to designate a central campaign committee, which shall forward expenditure requests to the Commission for disbursements from the Federal Election Campaign Financing Fund and shall receive reports from subordinate political committees. Title II: Public Financing of Federal Election Campaigns - Establishes the Federal Election Campaign Financing Fund in the Treasury. Provides for the appropriation, into the fund from the Treasury, of such sums as may be necessary to carry out this title. Establishes methods by which candidates may qualify for disbursements from the fund. Establishes amounts which qualified candidates may receive from the fund. Requires that any expenditure by or on behalf of any candidate in general or primary elections shall be drawn from monies in the fund available to such candidate. Authorizes national party committees and congressional campaign committees to spend on behalf of a candidate ten percent of the amount available to such candidate from the fund. Title III: Limitation of Political Contributions - Provides for a $25,000 fine and/or 10 years imprisonment for violators of this title. Prohibits personal contributions to candidates. Prohibits contributions to national party committees or congressional campaign committees in excess of $100 in any year.

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1 official file

• Introduced in House

  summary · EN · 12 October 1973

  Open at official source

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