,i #aacth ,,congress #ast ,session ,h4 ,r4 #cehf ,,in ,,the ,,house ,,of ,,representatives ,november #ba1 #bjac,mr4 ,petri introduced the following bill2 which was referred to the ,committee on ,ways and ,means ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to provide a credit and a deduction for small political contributions4 #a4 ,short title ,this ,act may be cited as the ,citizen ,involvement in ,campaigns ,act of #bjac4 #b4 ,tax credit for certain political contributions 7a7 ,in general ,subpart ,a of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf 7relating to nonrefundable personal credits7 is amended by inserting after section #be;,d the following new section3 #be;,e4 ,credit for certain political contributions 7a7 ,in general ,in the case of an individual1 there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to all qualified political contributions paid by the taxpayer during the taxable year4 7b7 ,limitations 7#a7 ,maximum credit ,the credit allowed by subsection 7a7 shall not exceed #bjj 7#djj in the case of a joint return74 7#b7 ,verification ,the credit allowed by subsection 7a7 shall be allowed with respect to any qualified political contribution only if such contribution is verified in such manner as the ,secretary shall prescribe by regulation4 7c7 ,definitions ,for purposes of this section-- 7#a7 ,qualified political contribution ,the term qualified political contribution means a contribution or gift of money1 or the fair market value of a contribution or gift of property1 to-- 7,a7 an individual who is a candidate for nomination or election to any ,federal elective public office in any primary1 general1 or special election1 for use by such individual to further the candidacy of the individual for nomination or election to such office1 or 7,b7 the national committee of a national political party4 7#b7 ,candidate ,the term candidate means1 with respect to any ,federal elective public office1 an individual who-- 7,a7 publicly announces before the close of the calendar year following the calendar year in which the political contribution is made that the individual is a candidate for nomination or election to such office2 and 7,b7 meets the qualifications prescribed by law to hold such office4 7#c7 ,national political party ,the term national political party means-- 7,a7 in the case of qualified political contributions made during a taxable year of the taxpayer in which the electors of ,president and ,vice ,president are chosen1 a political party presenting candidates or electors for such offices on the official election ballot of ten or more ,states2 or 7,b7 in the case of qualified political contributions made during any other taxable year of the taxpayer1 a political party which met the qualifications described in subparagraph 7,a7 in the last preceding election of a ,president and ,vice ,president4 7d7 ,election not ,to have section apply ,a taxpayer may elect not to have this section apply with respect to qualified political contributions made during the taxable year4 7e7 ,cross references 7#a7 ,for transfer of appreciated property to a political organization1 see section #hd4 7#b7 ,for certain indirect contributions to political parties1 see section #bgf4 4 7b7 ,conforming amendment ,the table of sections for subpart ,a of part ,,iv of subchapter ,a of chapter #a of such ,code 7relating to nonrefundable personal credits7 is amended by inserting after the item relating to section #be;,d the following new item3 ,sec4 #be;,e4 ,credit for certain political contributions4 4 7c7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca of the calendar year in which this ,act is enacted4 #c4 ,deduction for certain political contributions 7a7 ,in general ,part ,,vii of subchapter ,b of chapter #a of the ,internal ,revenue ,code of #aihf is amended by redesignating section #bbd as section #bbe and by inserting after section #bbc the following new section3 #bbd4 ,political contributions 7a7 ,in general ,in the case of an individual1 there shall be allowed as a deduction for the taxable year an amount equal to the qualified political contributions made by the taxpayer during the taxable year4 7b7 ,limitation ,the amount allowed as a deduction under subsection 7a7 for the taxable year shall not exceed #fjj 7#abjj in the case of a joint return74 7c7 ,qualified political contribution ,for purposes of this section1 the term qualified political contribution shall have the meaning given such term by section #be;,e7c77#a74 7d7 ,denial of double benefit ,no deduction shall be allowed under subsection 7a7 to a taxpayer for any qualified political contribution made during the taxable year if a credit is allowed to such taxpayer under section #be;,e for such year4 4 7b7 ,deduction allowed whether or not taxpayer itemizes other deductions ,subsection 7a7 of section #fb of such ,code is amended by inserting before the last sentence at the end the following new paragraph3 7#bb7 ,qualified political contributions ,the deduction allowed by section #bbd4 4 7c7 ,clerical amendment ,the table of sections for part ,,vii of subchapter ,b of chapter #a of such ,code is amended by redesignating the item relating to section #bbd as an item relating to section #bbe and by inserting before such item the following new item3 ,sec4 #bbd4 ,political contributions4 4 7d7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca of the calendar year in which this ,act is enacted4