Federal Campaign Reform Act

Summary

Federal Campaign Reform Act - Establishes the Federal Election Commission. Empowers the Commission to require reports, issue subpenas, require attendance of witnesses, and require the keeping of recorrds. Directs the Commission to: (1) furnish report forms for statements required under this Act; (2) make such completed reports public to show contributions and expenditures of candidates; (3) audit such reports; and (4) serve as a national clearinghouse for information on administration of elections. Requires candidates to designate one political committee to receive contributions and one bank as a campaign depository. Allows such committees a petty cash fund from which expenditures of up to $50 may be made. Requires all contributions in excess of $10 to be reported in a prescribed manner. Sets forth the manner in which the committee treasurer shall keep account of contributions and expenditures. Provides for a method by which political committees shall register with the Commission and report their receipts and expenditures. Requires the disclosure of names of contributors contributing in excess of $100 and of persons to whom expenditures in excess of $50 have been made. Establishes similar reporting requirements for political action groups. Prohibits supervisors or union officials from serving as principal officers of political action groups. Prescribes methods of registering political action groups. Directs committees arranging national, State, or district conventions to report contributions and expenditures to the Commission. Prohibits the acceptance of contributions in excess of $10 by political committees and action groups unless an accompanying disclosure form is filed. Prohibits cash contributions exceeding $50. Prohibits contributions by persons other than individuals, political action groups, and national committees, or contributions in the name of other persons. Disallows the solicitation of contributions by supervisors and union officials. Limits contributions from an individual to a committee to $3000 for elections except that for President or Vice President, the limit shall be $15,000. Transfers unexpended contributions to the national committees or the Treasury. Prohibits expenditures for candidates by persons other than political committees. Requires reports from voter registration organizations. Prohibits acts which mislead voters, disrupt a candidate's campaign, or obstructs registration or elections. Establishes a $100,000 fine and/or 10-year imprisonment penalty for violations of this Act. Disallows primaries, conventions, or caucuses for selection of delegates to national Presidential conventions before May 1.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 28 March 1974

  Open at official source

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