To amend the Internal Revenue Code of 1986 and the Federal Election Campaign Act of 1971 to provide for public financing of House of Representatives general election campaigns, and for other purposes.

Summary

Amends the Internal Revenue Code to establish the House of Representatives General Election Trust Fund. Authorizes individuals whose adjusted income tax liability is $2 or more to designate that $2 be paid over to the Trust Fund. Authorizes expenditures from the Trust Fund to candidates who certify to the Federal Election Commission that: (1) they have received contributions totaling not less than $50,000, of which not more than $1,000 may be from their personal funds; and (2) they will not furnish from their personal funds more than $20,000 with respect to the election. Amends the Federal Election Campaign Act of 1971 to authorize candidates for the House of Representatives to accept amounts from the Trust Fund. Prohibits candidates from making expenditures with respect to such general election totaling more than $400,000, with an exception. Provides a civil penalty for a violation of such limitation. Prohibits general election candidates for the House of Representatives from making loans totaling more than $50,000 to any campaign committee of such candidate with respect to the election.

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

Timeline

1. 2 May 1989

   Introduced

   Introduced in House

   Source: IntroReferral

2. 2 May 1989

   Introduced

   Introduced in House

   Source: IntroReferral

3. 2 May 1989

   Introduced

   Referred to the House Committee on House Administration.

   Source: IntroReferral

4. 8 May 1989

   Referred

   Referred to the Subcommittee on Elections.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 2 May 1989

  Open at official source

Sponsors

• Rep. Sabo, Martin Olav [D-MN-5] · D · Sponsor
• · hsha00 · Standing
• · hswm00 · Standing

Related records

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