To provide for public financing of general election campaigns for the House of Representatives, to limit total contributions to a general election candidate who agrees to accept amounts from the House of Representatives Campaign Trust Fund, to provide a tax credit for contributions to candidates for the office of Representative, and for other purposes.

Summary

Amends the Federal Election Campaign Act of 1971 to provide for public financing of general election campaigns for the House of Representatives. Authorizes candidates for the House of Representatives to accept amounts from the House of Representatives Campaign Trust Fund (established by this Act). Prohibits candidates from accepting contributions from all sources, including the Trust Fund, in excess of $300,000 ($350,000 if the candidate is not an incumbent) of which not more than one-half may be accepted from nonparty multicandidate political committees or from separate segregated funds of corporations, labor unions, and national banks. Amends the Internal Revenue Code to establish the House of Representatives Campaign Trust Fund. Authorizes taxpayers to include with their returns a cash contribution to the Trust Fund. Sets forth the various accounts of the Trust Fund. Authorizes expenditures from the Trust Fund to candidates who certify to the Federal Election Commission that they have received contributions during a two-year election cycle aggregating not less than $25,000, in contributions of $100 or less from individual contributors. Allows a tax credit of 50 percent of the qualified political contributions made by a taxpayer for the taxable year. Limits such tax credit to $50 ($100 in the case of a joint return). Prohibits an authorized committee of any individual who is a Member of the House of Representatives or a candidate for such office from making any contribution to an authorized committee of any other individual who is such a Member or candidate. Requires any person making an independent expenditure during a specified period in the form of an advertisement or informational mailing to include the name of the candidate intended to benefit from such advertisement or mailing.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 27 February 1989

   Introduced

   Referred to the House Committee on House Administration.

   Source: IntroReferral

2. 27 February 1989

   Introduced

   Introduced in House

   Source: IntroReferral

3. 27 February 1989

   Introduced

   Introduced in House

   Source: IntroReferral

4. 6 March 1989

   Referred

   Referred to the Subcommittee on Elections.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · — · Download file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 27 February 1989

  Open at official source

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Sponsors

• Rep. Penny, Timothy J. [D-MN-1] · D · Sponsor
• Rep. Bates, Jim [D-CA-44] · D · Sponsor
• Rep. Udall, Morris K. [D-AZ-2] · D · Sponsor
• Rep. Pease, Donald J. [D-OH-13] · D · Sponsor
• Rep. Bryant, John W. [D-TX-5] · D · Cosponsor
• Rep. Moody, Jim [D-WI-5] · D · Cosponsor
• Rep. LaFalce, John J. [D-NY-29] · D · Cosponsor
• · hsha00 · Standing
• · hswm00 · Standing

Related records

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