House of Representatives Campaign Financing Act of 1979

Summary

House of Representatives Campaign Financing Act of 1979 - Amends the Internal Revenue Code to add a new Chapter 97 entitled the House of Representatives Election Campaign Fund Act. Entitles to payments under this Act Congressional candidates who agree to certain reporting and recordkeeping procedures and who certify that: (1) their authorized committees will not incur campaign expenses in excess of certain limitations; (2) he or she has qualified to have his name placed on the election ballot in an election for Congressional office; and (3) he or she has received contributions in excess of a certain sum and no person has given more than $100 toward the amount so certified. Sets the amount of payments to an eligible candidate at the amount of contributions received up to a specified maximum. Stipulates that sums given by any one contributor totalling over $100 shall be disregarded for purposes of matching grants. Restricts use of funds forwarded under this Act to defraying campaign expenses either directly or through repayment of campaign loans. Specifies a limit on the amount of personal funds which a candidate may spend in connection with a Congressional campaign and remain eligible for matching grants. Sets spending limits for candidates receiving payments under this Act. Waives such limits for candidates whose opponents are not receiving matching payments and have spent sums in excess of the limit imposed for candidates receiving payments. Directs the Secretary of the Treasury to establish a separate House of Representatives Election Payment Account in the Presidential Election Campaign Fund and to deposit certain sums in such account in accordance with specified guidelines. Requires repayment of excess payments and unexpended payments. Penalizes the use of funds for other than campaign purposes. Authorizes the Federal Election Commission to institute repayment actions in U.S. district courts. Specifies the administrative authority of the Commission in carrying out this Act.

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Documents

1 official file

• Introduced in House

  summary · EN · 15 January 1979

  Open at official source

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