Voter Empowerment Act of 1997

TABLE OF CONTENTS:

Title I: Promoting Disclosure of Information on Campaign

Spending

Title II: Encouraging Participation in Campaigns

Subtitle A: Enforcement of Federal Campaign Laws by

Attorney General

Subtitle B: Facilitating Dissemination of Information

Title III: Reform of Federal Election Commission

Title IV: Termination of Presidential Election Campaign Fund

Voter Empowerment Act of 1997 - Title I: Promoting Disclosure of Information on Campaign Spending - Amends the Federal Election Campaign Act of 1971 to require disclosure to the Federal Election Commission of: (1) expenditures in excess of specified amounts for issue advocacy communications (as described by this Act); (2) expenditures in excess of specified amounts for certain permissible activities of banks, corporations, and labor unions; and (3) State or local political party expenditure information required to be reported under State or local law.

(Sec. 104) Requires: (1) (currently authorizes) certain filings with the Commission to be done electronically; (2) such information to be made available on the Internet and at Commission offices. Permits Commission waiver of specified acquisition rules to expedite electronic access.

(Sec. 105) Revises specified reporting provisions.

(Sec. 106) Waives the "best effort" political committee compliance standard with respect to the identification of annual contributors of more than $200.

(Sec. 107) Requires disclosure to the Commission by a contributor to a political committee of a national party, and by such committee, with respect to annual amounts of $250,000 or more.

Title II: Encouraging Participation in Campaigns - Amends the Act to set forth contribution indexing provisions.

(Sec. 202) Permits trade association corporate members to approve contribution solicitations by more than one trade association.

(Sec. 203) Amends the Internal Revenue Code to allow an individual tax credit of up to $200 ($400 joint) for one-half of the Federal political contributions made during the taxable year.

Title III: Reform of Federal Election Commission - Subtitle A: Enforcement of Federal Campaign Laws by Attorney General - Directs the Attorney General to establish an office within the Department of Justice to enforce specified election provisions under the Act and the Internal Revenue Code.

(Sec. 302) Terminates Commission enforcement authority.

(Sec. 303) Reduces Commission membership upon establishment of such enforcement office.

Subtitle B: Facilitating Dissemination of Information - Amends the Act to direct the Commission to: (1) maintain an index of advisory opinions and provide written responses to questions; and (2) publish the names of candidates whose authorized committees have accepted prohibited contributions.

Title IV: Termination of Presidential Election Campaign Fund - Amends the Internal Revenue Code to terminate: (1) the Presidential Election Campaign Fund; (2) the Presidential Primary Matching Payment Account; and (3) the designation of income tax payments for presidential elections.