Senate Campaign Finance Act of 1987

Summary

Senate Campaign Finance Act of 1987 - Amends the Federal Election Campaign Act of 1971 to increase, from $1,000 to $2,000, the amount a person may contribute to a candidate for Federal office. Decreases, from $5,000 to $3,000, the amount a multicandidate political committee may contribute to any political committee other than an individual candidate's committee or a national political party committee. Revises the definition of independent expenditure. Establishes provisions for public financing of Senate general election campaigns. Requires candidates to make certain certifications to the Federal Election Commission regarding compliance with provisions of this Act. Limits personal expenditures of such candidates to $20,000. Entitles eligible candidates to aggregate payments based upon State voting-age populations and whether a candidate is of a major or minor political party. Declares that eligible candidates are entitled to such payments only to defray qualified campaign expenses. Authorizes additional entitlements to opponents of nonpublicly financed candidates to match those contributions or expenditures raised, incurred, or expended by the latter in excess of the latter's entitlement. Requires the Federal Election Commission to certify to the Secretary of the Treasury the full amount to which an eligible candidate is entitled. Requires the Secretary to maintain in the Presidential Election Campaign Fund the Senate General Election Campaign Fund for the deposit of funds for payments to eligible candidates. Directs the Commission, after each election, to audit the campaign expenses of publicly financed candidates. Requires such candidates to repay any excess amounts received. Establishes criminal penalties for violations of this Act. Directs the Commission to report to the Senate after each election on actions taken under such Act. Provides for judicial review of Commission actions. Authorizes appropriations.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 6 January 1987

  Open at official source

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