To amend the Federal Election Campaign Act of 1971 to establish a program under which Congressional candidates may receive public funding for carrying out campaigns for election for Federal office, to amend the Internal Revenue Code of 1986 to establish an income tax checkoff to provide funding for such program and to provide a refundable tax credit for individuals who make contributions to such candidates, and for other purposes.

Summary

Amends the Federal Election Campaign Act of 1971 (FECA) to outline a public funding program for congressional candidates, which includes requirements for eligibility of certified public subsidy candidates and for spending limits and fundraising restrictions for certified candidates. Establishes penalties for spending in excess of limits, among other enforcement measures. Amends the Internal Revenue Code to establish in the Treasury the Certified Public Subsidy Candidate Fund to hold amounts designated by individuals as $1 check-offs on an income tax return. Makes Fund amounts available, as provided in appropriation Acts, for payments to certified public subsidy candidates. Allows a refundable tax credit for up to an aggregate of $100 per year in individual contributions to certified public subsidy candidates.

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Timeline

1. 2 August 2001

   Introduced

   Introduced in House

   Source: IntroReferral

2. 2 August 2001

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 2 August 2001

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

4. 2 August 2001

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 2 August 2001 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 August 2001

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 2 August 2001

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 2 August 2001

  Open at official source

Sponsors

• Rep. McCollum, Betty [D-MN-4] · D · Sponsor
• · hsha00 · Standing
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.