H.R.4428 - Congressional Campaign Finance Reform Act of 198398th Congress (1983-1984)
|Sponsor:||Rep. Obey, David R. [D-WI-7] (Introduced 11/16/1983)|
|Committees:||House - House Administration; Ways and Means|
|Latest Action:||House - 11/16/1983 Referred to House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4428 — 98th Congress (1983-1984)All Information (Except Text)
Introduced in House (11/16/1983)
Congressional Campaign Finance Reform Act of 1983 - Amends the Internal Revenue Code to allow a nonrefundable income tax credit for contributions to candidates for the office of U.S. Representative. Limits the amount of such credit to $100 for any one qualified candidate, and $200 for all qualified candidates. Requires that such contributions be verified in accordance with regulations promulgated by the Secretary of the Treasury. Prohibits a candidate from misrepresenting his eligibility for office or the eligibility of a potential contributor for the tax credit. Requires the Secretary to report to the Congress on the use of such political tax credits not later than June 30 following each Federal election.
Adds a new title to the Federal Election Campaign Act of 1971: "Title V: Financing of General Election Campaigns for the House of Representatives." Sets forth requirements for the qualification of candidates for the U.S. House of Representatives to receive contributions eligible for the tax credit provided by this Act. Requires a candidate to certify to the Federal Election Commission that neither he nor his authorized committee will accept any contribution or make any campaign expenditure in excess of prescribed limits. Requires further that the candidate maintain a separate accounting of contributions which qualify for the income tax credit for political contributions provided by this Act and that the candidate provide any appropriate information to the Commission for purposes of auditing or examining campaign contributions. Requires the candidate to certify the receipt of a certain amount of threshold contributions.
Limits to $20,000 the amount of personal funds (from the candidate or his immediate family) that a candidate may spend in an election.
Waives spending limits for eligible candidates whose opponents have exceeded applicable expenditure limits or who have otherwise failed to meet the requirements of this Act.
Requires independent expenditures in excess of $5,000 to be reported to the Commission and each candidate within specified time frames. Qualifies a candidate against whom more than $5,000 in independent expenditures have been made for premium postal rates.
Requires the Commission to verify upon request the eligibility of a candidate under this Act to the Secretary.
Requires the Commission to conduct an examination and audit of the campaign accounts of ten percent of the qualified candidates under this Act to determine compliance with the expenditure limitations and other requirements of this Act.
Empowers the Commission to bring a civil suit in U.S. district court to enforce any requirement of this Act or recover any amounts resulting from an audit of campaign expenditures. Permits private citizens to file complaints with the Commission and initiate court actions.
Includes within the definition of "contribution" for purposes of the Federal Election Campaign Act of 1971 certain extensions of credit for advertising and broadcasting in excess of $1,000 for a period of more than 60 days.
Limits to $90,000 (adjusted for inflation) in any calendar year the amount of contributions which candidates for U.S. Representative may accept from non-party multicandidate political committees. Specifies exceptions for candidates in general and special elections. Limits to $240,000 the expenditure amounts for such candidates.
Permits candidates for the office of U.S. Representative to make expenditures independently of the campaign committee of his party in specified circumstances.
Amends the Communications Act of 1934 to provide candidates for the office of U.S. Representative with equal time in broadcast media to respond to the remarks of an opposing candidate.