A bill to provide public financing with respect to campaigns for election to the Office of the President and Vice President of the United States.
Presidential Election Campaign Finance Act - Establishes the Presidential Campaign Finance Fund in the Treasury, to which appropriations of $100,000,000 are authorized, and the Presidential Election Finance Commission. Authorizes the Commission to prescribe such rules and regulations, to conduct such examinations, and investigations, and to require the keeping of such books, records, and information, as it deems necessary to carry out the functions and duties imposed on it by this Act. States that within one hundred and eighty days after the general election, the Commission shall conduct a complete examination and audit of the expenditures made, expenses incurred, and financial assistance received by or on behalf of any candidate who has received assistance under this Act in connection with his election campaign.
Authorizes the Commission: (1) to compel the attendance of any person to answer questions under oath relating to the financial matters of any campaign for which transfers have been received from the fund; and (2) to compel under oath the production for inspection or copying of documents, papers, books, records, or other writing relating to the financial matters of any campaign for which transfers have been received from the fund.
Requires candidates to file with the Commission, a sworn statement in which he agrees to maintain and make available to the Commission such records, books, and other information as the Commission may require.
Directs each candidate making application for the transfer of money from the fund to establish a single candidate campaign account in a bank insured by the Federal Deposit Insurance Corporation for the sole purpose of receiving transfers from the fund.
Requires an expenditure from such account to be invoiced.
States that no funds obtained by a candidate in connection with a primary election or other campaign or from any other source whatever may be used by such candidate or any person acting on his behalf to defray or guarantee general election campaign expenses.
Prohibits any person from making any contribution for the purpose of influencing the result of a general election for the office of President or Vice President, and no person shall knowingly accept any such contribution. Provides that no candidate for President shall: (1) receive contributions from any person in connection with a primary election campaign in an aggregate of $250; or (2) raise additional private funds from his personal resources or those of any one member of his immediate family for use in connection with his primary election campaign which, in the aggregate exceed $250.
Empowers the Commission to prevent any person from engaging in any acts or practices which constitute or will constitute a violation of any provisions of this Act.
Provides that any person who believes a violation of this Act has occurred may file a complaint with the Commission, and if the Commission determines there is reason to believe such a violation has occurred, it shall expeditiously make an investigation.
States that willful violations of any provision of this Act shall be punishable by a fine of not more than $10,000, or imprisonment for not more than one year, or both.
Authorizes appropriation to the fund such amounts, in addition to the $100,000,000 initially appropriated, as may be necessary to carry out the operations of the fund.
Authorizes appropriation to the Commission such sums as may be necessary to carry out the other provisions of this Act.
Introduced in House
Introduced in House
Referred to House Committee on House Administration.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line