A bill to amend the Federal Election Campaign Act with respect to contributions and expenditures by national banks, corporations, and labor organizations.

Summary

Amends the Federal Election Campaign Act to include any loan, payment, or gift made for the purpose of participating or intervening in a political campaign for certain offices within the definition of a "contribution or expenditure" by a national bank, a corporation, or a labor organization for purposes of such Act and the Public Utility Holding Company Act. Allows a corporation or labor organization to establish and administer a separate contributory fund for political purposes provided that all contributions for or to the fund are made voluntarily and are unrelated to any fees required for membership or employment in such organization or corporation. Prohibits the payment of any costs of establishing or administering the fund from moneys obtained in any commercial transaction.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 21 February 1980

  Open at official source

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