Federal Election Reform Act

Federal Election Reform Act - Provides, under the Federal Election Campaign Act of 1971, that: (1) every candidate for Federal office shall, within a reasonable time after becoming a candidate, designate one political committee as his authorized campaign committee; (2) each such committee shall designate one National or State bank as the depository of any moneys under the control of such committee; and (3) any candidate of a major party for the office of President shall designate the national committee of his political party as his authorized campaign committee.

Defines the terms used in this Act.

States that no person (other than an individual, a local committee, State committee, or national committee, of a political party, the Democratic or Republican Senatorial Campaign Committee, the Democratic National Congressional Committee, or the National Republican Congressional Committee) may make any contribution to or for the benefit of any candidate for Federal office. Sets limits on the amount of contributions an individual may make to or for the benefit of any candidate for Federal office with respect to any election for Federal office of, in the aggregate: (1) $25,000, in the case of a candidate for the office of President; (2) $5,000, in the case of a candidate for the office of Senator; or (3) $2,000, in the case of a candidate for the office of Representative, Delegate, or Resident Commissioner.

Sets limitations on the expenditures of candidates for Federal office. Places prohibitions on contributions by nonresident aliens and limitations on contributions of currency. Sets forth new dates for primary election schedules.