A resolution limiting expenditures in campaigns for election to the Senate, setting standards of conduct for those seeking election or re-election to the United States Senate and providing sanctions against those elected who bring discredit to the United States Senate by violating the established standards of conduct.

Prescribes campaign expenditure limitations for Senate candidates with respect to: (1) personal funds; (2) general elections; (3) primary elections; and (4) runoff elections.

Requires the Committee on Rules and Administration to compute increases in limitations based upon increases in the price index under the Federal Election Campaign Act of 1971 (FECA).

Outlines circumstances under which expenditure limitations shall not apply to expenditures by a candidate (or his or her authorized committee) from a compliance fund established to defray the costs of legal and accounting services provided solely to insure compliance with the FECA.

Increases a candidate's expenditure limitations to match independent expenditures made in opposition to the candidate or for the candidates's opponent.

Prescribes reporting guidelines for expenditures by persons other than the candidate.

Requires the Committee on Rules and Administration to introduce by a specified deadline a resolution proposing the adopting of a Code of Campaign Conduct.

Prescribes enforcement measures for alleged violations of this Act referred to the Senate Select Committee on Ethics for investigation.