Federal Election Campaign Act Amendments of 1985

Federal Election Campaign Act Amendments of 1983 - Amends the Federal Election Campaign Act of 1971 to include in the definitions of "contribution" and "expenditure" donations and payments made to advocate clearly identified individuals as candidates for Federal office.

Exempts from such definitions any donations or payments to political parties or political party committees designated to defray establishment, administration, or solicitation costs of the Committee. Requires that these donations be reported on a semiannual basis.

Extends to the national committee of a political party certain exemptions that are given to State committees.

Allows a political committee of a party to utilize the expedited procedure for advisory opinion requests during the 60-day period before an election.

Requires the Federal Election Commission to establish time limits for investigations.

Revises the investigatory procedures of the Commission.

Repeals the requirement that the Court of Appeals sit en banc when hearing cases involving the constitutionality of the Act.

Increases the contribution limitations for certain offices.

Permits political committees of political parties to engage in bona fide commercial transactions in order to defray establishment, administration, and solicitation costs.

Amends the Internal Revenue Code to provide the opportunity for a presidential general election candidate to request a hearing before the Commission if a demand for repayment of funds is made.