Federal Election Campaign Act Amendments

Federal Election Campaign Act Amendments - Title I: Amendments to Federal Election Campaign Act of 1971 - Amends the Federal Election Campaign Act to redefine "contribution" and "expenditure" so as to encompass, with respect to any Presidential candidate, a gift of anything of value made to any delegate or for the purpose of influencing the election of any candidate for delegate to a caucus or convention of a political party if such delegate or candidate is pledged to support such Presidential candidate.

Deems not to be a "contribution" or "expenditure" (1) the value of listing or mentioning a Presidential candidate's name in the campaign materials of other candidates for the purpose of promoting such other candidates, (2) payments by State or local party committees for campaign materials used in connection with volunteer activities on behalf of a Presidential candidate if such payments are made with funds not earmarked for any particular candidate, and (3) unreimbursed travel expenses of delegates or candidates for delegate to party conventions or caucuses.

Requires expenditures by a political committee to be authorized by its chairman or treasurer rather than by designated agents.

Affords a candidate the option to not designate a political committee to receive contributions or make expenditures. Subjects candidates not designating committees to certain financing requirements applicable to such committees.

Revises requirements regarding political committee statements of organization.

Amends campaign finance reporting requirements to (1) include pledged delegates and candidates for delegate to President nominating convention among persons required to file reports; (2) alter reporting deadlines including setting forth separate guidelines for Presidential elections; (3) restrict disclosure of the identity of persons contributing to, or receiving expenditures from, a candidate or political committee to those persons giving or receiving at least $200; and (4) revise provisions regarding contributions and expenditures other than through candidates or political committees.

Shortens from 30 days to 20 days the period (1) for Congressional disapproval of proposed Federal Election Commission regulations and (2) for informal Commission resolution of certain violations.

Permits information submitted in financing reports to be used for the purposes of soliciting contributions from political committees.

Directs that copies of reports required to be filed with the States be filed with officials designated by the Governor. Revises the period for which copies of materials filed with States must be preserved.

Prohibits conversion of excess campaign contributions by a candidate to any personal use, excluding reimbursement of expenses incurred by a candidate as a Federal officeholder in connection with official duties.

Redefines "multicandidate political committee" for purposes of the provision limiting the amount of contributions which such a committee may make.

Specifies limits on the amount which a State party committee may expend in connection with the general election campaign of the party Presidential candidate.

Requires the name of a segregated political fund established by a corporation, labor organization, or similar organization to contain the name of such entity.

Title II: Amendments to Internal Revenue Code of 1954 - Amends the Presidential Election Campaign Fund Act to permit additional payments to eligible candidates to defray legal and accounting fees incurred for the purpose of complying with the Federal Election Campaign Fund Act.

Repeals penalties under such Act with respect to expenditures by unauthorized political committees.