A bill to amend the Federal Election Campaign Act of 1971 to require candidates for Federal office in certain circumstances to return excess campaign contributions to the persons making such contributions or to deposit such contributions in the Presidential Election Campaign Fund.

Amends the Federal Election Campaign Act to limit the purposes for which contributions made to a Federal officeholder to support his official activities may be used to (1) ordinary and necessary expenses incurred in official duties and (2) charitable contributions. Prohibits the use of such funds to defray campaign costs.

Limits the purposes for which a candidate for Federal office may use excess campaign contributions to (1) reimbursement of contributors, (2) deposits in the Presidential Election Campaign Fund, (3) expenses in future elections, and (4) in the case of successful candidates, expenses incurred in official duties.