H.R.3172 - 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.108th Congress (2003-2004)
|Sponsor:||Rep. McCollum, Betty [D-MN-4] (Introduced 09/24/2003)|
|Committees:||House - Ways and Means; House Administration|
|Latest Action:||09/24/2003 Referred to House Administration (All Actions)|
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Summary: H.R.3172 — 108th Congress (2003-2004)All Information (Except Text)
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.
Introduced in House (09/24/2003)
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.