Citizen Legislature and Political Freedom Act

Citizen Legislature and Political Freedom Act - Amends the Federal Election Campaign Act of 1971 (FECA) to remove the limitations on Federal election campaign contributions after 1998.

(Sec. 3) Amends the Internal Revenue Code to terminate: (1) the designation of income tax payments to the Presidential Election Campaign Fund after December 31, 1997; (2) the Presidential Election Campaign Fund after December 31, 1998; and (3) the Presidential Primary Matching Payment Account after December 31, 1998.

(Sec. 4) Amends FECA to require the following regarding soft money expenditures of political parties: (1) the disclosure of all funds (soft money) transferred by a political committee of a national political party to any political committee of a State or local political party, without regard to whether or not the funds are otherwise treated as contributions or expenditures; and (2) a political committee of a State or local political party required under State or local law, rule, or regulation to submit a report on its disbursements to an entity of the State or local government, to file a copy of the report with the Federal Election Commission (Commission) at the time it submits the report to such an entity.

(Sec. 5) Revises reporting requirements to provide for mandatory electronic filing of FECA reports.

Repeals requirements regarding the candidate's principal campaign committee notifying the Clerk of the House, the Secretary or Commission, and the Secretary of the Senate, as appropriate, in writing, of any contribution of $1,000 or more received by any authorized committee of the candidate. Replaces them with requirements providing for each political committee to notify the Secretary or the Commission, and the Secretary of the Senate, as appropriate, in writing, of any contribution received by the committee within 90 days of an election, within 24 hours (or, if earlier, by midnight of the day on which the contribution is deposited) after the receipt of such contribution and include the involved candidate's name (as appropriate) and the office sought by the candidate, the identification of the contributor, and the date of receipt and the contribution amount, in addition to all other reporting requirements.

Directs the Commission to make the information contained in the reports submitted available on the Internet and publicly available at Commission offices as soon as practicable (but in no case later than 24 hours) after the information is received by the Commission.

(Sec. 6) Waives the "best efforts" exception with respect to information regarding the identification of any person who makes a contribution or contributions aggregating more than $200 during a calendar year (as currently required to be provided).