,,ii #aafth ,,congress #ast ,session ,s4 #bbeg ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,july #bd1 #bjai ,mr4 ,durbin 7for himself1 ,ms4 ,baldwin1 ,mr4 ,bennet1 ,mr4 ,blumenthal1 ,mr4 ,booker1 ,mr4 ,cardin1 ,mr4 ,coons1 ,ms4 ,duckworth1 ,mrs4 ,gillibrand1 ,ms4 ,harris1 ,mr4 ,heinrich1 ,ms4 ,hirono1 ,mr4 ,king1 ,ms4 ,klobuchar1 ,mr4 ,markey1 ,mr4 ,merkley1 ,mr4 ,menendez1 ,mr4 ,murphy1 ,mrs4 ,murray1 ,mr4 ,sanders1 ,mr4 ,schatz1 ,ms4 ,smith1 ,mr4 ,udall1 ,mr4 ,van ,hollen1 and ,ms4 ,warren7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to reform the financing of ,senate elections1 and for other purposes4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,fair ,elections ,now ,act of #bjai4 7b7 ,table of contents ,the table of contents of this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4 ,title ,i--,small ,dollar ,financing of ,senate ,election ,campaigns ,sec4 #aja4 ,eligibility requirements and benefits of ,fair ,elections financing of ,senate election campaigns4 ,sec4 #ajb4 ,prohibition on joint fundraising committees4 ,sec4 #ajc4 ,exception to limitation on coordinated expenditures by political party committees with participating candidates4 ,title ,,ii--,improving ,voter ,information ,sec4 #bja4 ,broadcasts relating to all ,senate candidates4 ,sec4 #bjb4 ,broadcast rates for participating candidates4 ,sec4 #bjc4 ,,fcc to prescribe standardized form for reporting candidate campaign ads4 ,title ,,iii--,responsibilities of the ,federal ,election ,commission ,sec4 #cja4 ,petition for certiorari4 ,sec4 #cjb4 ,electronic filing of ,,fec reports4 ,title ,,iv--,revenue provisions ,sec4 #dja4 ,fair ,elections ,fund revenue4 ,title ,v--,miscellaneous ,provisions ,sec4 #eja4 ,severability4 ,sec4 #ejb4 ,effective date4 ,i ,small ,dollar ,financing of ,senate ,election ,campaigns #aja4 ,eligibility requirements and benefits of ,fair ,elections financing of ,senate election campaigns ,the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjaja et seq47 is amended by adding at the end the following3 ,v ,fair ,elections ,financing of ,senate ,election ,campaigns ,a ,general ,provisions #eja4 ,definitions ,in this title3 7#a7 ,allocation from the fund ,the term allocation from the ,fund means an allocation of money from the ,fair ,elections ,fund to a participating candidate pursuant to section #ebb4 7#b7 ,commission ,the term ,commission means the ,federal ,election ,commission4 7#c7 ,enhanced matching contribution ,the term enhanced matching contribution means an enhanced matching payment provided to a participating candidate for qualified small dollar contributions1 as provided under section #ebd4 7#d7 ,enhanced support qualifying period ,the term enhanced support qualifying period means1 with respect to a general election1 the period which begins #fj days before the date of the election and ends #ad days before the date of the election4 7#e7 ,fair elections qualifying period ,the term ,fair ,elections qualifying period means1 with respect to any candidate for ,senator1 the period-- 7,a7 beginning on the date on which the candidate files a statement of intent under section #eaa7;a77#a72 and 7,b7 ending on the date that is #cj days before-- 7i7 the date of the primary election2 or 7ii7 in the case of a ,state that does not hold a primary election1 the date prescribed by ,state law as the last day to qualify for a position on the general election ballot4 7#f7 ,fair elections start date ,the term ,fair ,elections start date means1 with respect to any candidate1 the date that is #ahj days before-- 7,a7 the date of the primary election2 or 7,b7 in the case of a ,state that does not hold a primary election1 the date prescribed by ,state law as the last day to qualify for a position on the general election ballot4 7#g7 ,fund ,the term ,fund means the ,fair ,elections ,fund established by section #ejb4 7#h7 ,immediate family ,the term immediate family means1 with respect to any candidate-- 7,a7 the candidate's spouse2 7,b7 a child1 stepchild1 parent1 grandparent1 brother1 half-brother1 sister1 or half-sister of the candidate or the candidate's spouse2 and 7,c7 the spouse of any person described in subparagraph 7,b74 7#i7 ,matching contribution ,the term matching contribution means a matching payment provided to a participating candidate for qualified small dollar contributions1 as provided under section #ebc4 7#aj7 ,nonparticipating candidate ,the term nonparticipating candidate means a candidate for ,senator who is not a participating candidate4 7#aa7 ,participating candidate ,the term participating candidate means a candidate for ,senator who is certified under section #ead as being eligible to receive an allocation from the ,fund4 7#ab7 ,qualifying contribution ,the term qualifying contribution means1 with respect to a candidate1 a contribution that-- 7,a7 is in an amount that is-- 7i7 not less than the greater of #e or the amount determined by the ,commission under section #eca2 and 7ii7 not more than the greater of #bjj or the amount determined by the ,commission under section #eca2 7,b7 is made by an individual-- 7i7 who is a resident of the ,state in which such candidate is seeking election2 and 7ii7 who is not otherwise prohibited from making a contribution under this ,act2 7,c7 is made during the ,fair ,elections qualifying period2 and 7,d7 meets the requirements of section #eab7;b74 7#ac7 ,qualified small dollar contribution ,the term qualified small dollar contribution means1 with respect to a candidate1 any contribution 7or series of contributions7-- 7,a7 which is not a qualifying contribution 7or does not include a qualifying contribution72 7,b7 which is made by an individual who is not prohibited from making a contribution under this ,act2 and 7,c7 the aggregate amount of which does not exceed the greater of-- 7i7 #bjj per election2 or 7ii7 the amount per election determined by the ,commission under section #eca4 7#ad7 ,qualifying multicandidate political committee contribution 7,a7 ,in general ,the term qualifying multicandidate political committee contribution means any contribution to a candidate that is made from a qualified account of a multicandidate political committee 7within the meaning of section #cae7;a77#b774 7,b7 ,qualified account ,for purposes of subparagraph 7,a71 the term qualified account means1 with respect to a multicandidate political committee1 a separate1 segregated account of the committee that consists solely of contributions which meet the following requirements3 7i7 ,all contributions to such account are made by individuals who are not prohibited from making contributions under this ,act4 7ii7 ,the aggregate amount of contributions from each individual to such account and all other accounts of the political committee do not exceed the amount described in paragraph 7#ac77;,c74 #ejb4 ,fair ,elections ,fund 7a7 ,establishment ,there is established in the ,treasury a fund to be known as the ,fair ,elections ,fund4 7b7 ,amounts held by ,fund ,the ,fund shall consist of the following amounts3 7#a7 ,appropriated amounts 7,a7 ,in general ,amounts appropriated to the ,fund4 7,b7 ,sense of the ,senate regarding appropriations ,it is the sense of the ,senate that-- 7i7 there should be imposed on any payment made to any person 7other than a ,state or local government or a foreign nation7 who has a contract with the ,government of the ,united ,states in excess of #aj1jjj1jjj a tax equal to #j4ej percent of amount paid pursuant to each contract1 except that the aggregate tax on each contract for any taxable year shall not exceed #ejj1jjj2 and 7ii7 the revenue from such tax should be appropriated to the ,fund4 7#b7 ,voluntary contributions ,voluntary contributions to the ,fund4 7#c7 ,other deposits ,amounts deposited into the ,fund under-- 7,a7 section #eac7;c7 7relating to exceptions to contribution requirements72 7,b7 section #eba7;c7 7relating to remittance of allocations from the ,fund72 7,c7 section #ecb 7relating to violations72 and 7,d7 any other section of this ,act4 7#d7 ,investment returns ,interest on1 and the proceeds from1 the sale or redemption of1 any obligations held by the ,fund under subsection 7c74 7c7 ,investment ,the ,commission shall invest portions of the ,fund in obligations of the ,united ,states in the same manner as provided under section #ifjb7;b7 of the ,internal ,revenue ,code of #aihf4 7d7 ,use of ,fund 7#a7 ,in general ,the sums in the ,fund shall be used to provide benefits to participating candidates as provided in subtitle ,c4 7#b7 ,insufficient amounts ,under regulations established by the ,commission1 rules similar to the rules of section #ijjf7;c7 of the ,internal ,revenue ,code shall apply4 ,b ,eligibility and ,certification #eaa4 ,eligibility 7a7 ,in general ,a candidate for ,senator is eligible to receive an allocation from the ,fund for any election if the candidate meets the following requirements3 7#a7 ,the candidate files with the ,commission a statement of intent to seek certification as a participating candidate under this title during the period beginning on the ,fair ,elections start date and ending on the last day of the ,fair ,elections qualifying period4 7#b7 ,the candidate meets the qualifying contribution requirements of section #eab4 7#c7 ,not later than the last day of the ,fair ,elections qualifying period1 the candidate files with the ,commission an affidavit signed by the candidate and the treasurer of the candidate's principal campaign committee declaring that the candidate-- 7,a7 has complied and1 if certified1 will comply with the contribution and expenditure requirements of section #eac2 7,b7 if certified1 will not run as a nonparticipating candidate during such year in any election for the office that such candidate is seeking2 and 7,c7 has either qualified or will take steps to qualify under ,state law to be on the ballot4 7b7 ,general election ,notwithstanding subsection 7a71 a candidate shall not be eligible to receive an allocation from the ,fund for a general election or a general runoff election unless the candidate's party nominated the candidate to be placed on the ballot for the general election or the candidate otherwise qualified to be on the ballot under ,state law4 #eab4 ,qualifying contribution requirement 7a7 ,in general ,a candidate for ,senator meets the requirement of this section if1 during the ,fair ,elections qualifying period1 the candidate obtains-- 7#a7 a number of qualifying contributions equal to the greater of-- 7,a7 the sum of-- 7i7 #b1jjj2 plus 7ii7 #ejj for each congressional district in the ,state with respect to which the candidate is seeking election2 or 7,b7 the amount determined by the ,commission under section #eca2 and 7#b7 a total dollar amount of qualifying contributions equal to the greater of-- 7,a7 #aj percent of the amount of the allocation such candidate would be entitled to receive for the primary election under section #ebb7;c77#a7 7determined without regard to paragraph 7#e7 thereof7 if such candidate were a participating candidate2 or 7,b7 the amount determined by the ,commission under section #eca4 7b7 ,requirements relating to receipt of qualifying contribution ,each qualifying contribution-- 7#a7 may be made by means of a personal check1 money order1 debit card1 credit card1 or electronic payment account2 7#b7 shall be accompanied by a signed statement containing-- 7,a7 the contributor's name and the contributor's address in the ,state in which the contributor is registered to vote2 and 7,b7 an oath declaring that the contributor-- 7i7 understands that the purpose of the qualifying contribution is to show support for the candidate so that the candidate may qualify for ,fair ,elections financing2 7ii7 is making the contribution in his or her own name and from his or her own funds2 7iii7 has made the contribution willingly2 and 7iv7 has not received anything of value in return for the contribution2 and 7#c7 shall be acknowledged by a receipt that is sent to the contributor with a copy kept by the candidate for the ,commission and a copy kept by the candidate for the election authorities in the ,state with respect to which the candidate is seeking election4 7c7 ,verification of qualifying contributions ,the ,commission shall establish procedures for the auditing and verification of qualifying contributions to ensure that such contributions meet the requirements of this section4 #eac4 ,contribution and expenditure requirements 7a7 ,general rule ,a candidate for ,senator meets the requirements of this section if1 during the election cycle of the candidate1 the candidate-- 7#a7 except as provided in subsection 7b71 accepts no contributions other than-- 7,a7 qualifying contributions2 7,b7 qualified small dollar contributions2 7,c7 qualifying multicandidate political committee contributions2 7,d7 allocations from the ,fund under section #ebb2 7,e7 matching contributions under section #ebc2 7,f7 enhanced matching contributions under section #ebd2 and 7,g7 vouchers provided to the candidate under section #ebe2 7#b7 makes no expenditures from any amounts other than from-- 7,a7 qualifying contributions2 7,b7 qualified small dollar contributions2 7,c7 qualifying multicandidate political committee contributions2 7,d7 allocations from the ,fund under section #ebb2 7,e7 matching contributions under section #ebc2 7,f7 enhanced matching contributions under section #ebd2 and 7,g7 vouchers provided to the candidate under section #ebe2 and 7#c7 makes no expenditures from personal funds or the funds of any immediate family member 7other than funds received through qualified small dollar contributions and qualifying contributions74 ,for purposes of this subsection1 a payment made by a political party in coordination with a participating candidate shall not be treated as a contribution to or as an expenditure made by the participating candidate4 7b7 ,contributions for leadership ,p,a,cs1 etc ,a political committee of a participating candidate which is not an authorized committee of such candidate may accept contributions other than contributions described in subsection 7a77#a7 from any person if-- 7#a7 the aggregate contributions from such person for any calendar year do not exceed #bjj2 and 7#b7 no portion of such contributions is disbursed in connection with the campaign of the participating candidate4 7c7 ,exception ,notwithstanding subsection 7a71 a candidate shall not be treated as having failed to meet the requirements of this section if any contributions that are not qualified small dollar contributions1 qualifying contributions1 qualifying multicandidate political committee contributions1 or contributions that meet the requirements of subsection 7b7 and that are accepted before the date the candidate files a statement of intent under section #eaa7;a77#a7 are-- 7#a7 returned to the contributor2 or 7#b7 submitted to the ,commission for deposit in the ,fund4 #ead4 ,certification 7a7 ,in general ,not later than #e days after a candidate for ,senator files an affidavit under section #eaa7;a77#c71 the ,commission shall-- 7#a7 certify whether or not the candidate is a participating candidate2 and 7#b7 notify the candidate of the ,commission's determination4 7b7 ,revocation of certification 7#a7 ,in general ,the ,commission may revoke a certification under subsection 7a7 if-- 7,a7 a candidate fails to qualify to appear on the ballot at any time after the date of certification2 or 7,b7 a candidate otherwise fails to comply with the requirements of this title1 including any regulatory requirements prescribed by the ,commission4 7#b7 ,repayment of benefits ,if certification is revoked under paragraph 7#a71 the candidate shall repay to the ,fund an amount equal to the value of benefits received under this title plus interest 7at a rate determined by the ,commission7 on any such amount received4 ,c ,benefits #eba4 ,benefits for participating candidates 7a7 ,in general ,for each election with respect to which a candidate is certified as a participating candidate under section #ead1 such candidate shall be entitled to-- 7#a7 an allocation from the ,fund to make or obligate to make expenditures with respect to such election1 as provided in section #ebb2 7#b7 matching contributions1 as provided in section #ebc2 7#c7 enhanced matching contributions1 as provided in section #ebd2 and 7#d7 for the general election1 vouchers for broadcasts of political advertisements1 as provided in section #ebe4 7b7 ,restriction on uses of allocations from the fund ,allocations from the ,fund received by a participating candidate under section #ebb1 matching contributions under section #ebc1 and enhanced matching contributions under section #ebd may only be used for campaign-related costs4 7c7 ,remitting allocations from the fund 7#a7 ,in general ,not later than the date that is #de days after an election in which the participating candidate appeared on the ballot1 such participating candidate shall remit to the ,commission for deposit in the ,fund an amount equal to the lesser of-- 7,a7 the amount of money in the candidate's campaign account2 or 7,b7 the sum of the allocations from the ,fund received by the candidate under section #ebb1 the matching contributions received by the candidate under section #ebc1 and the enhanced matching contributions under section #ebd4 7#b7 ,exception ,in the case of a candidate who qualifies to be on the ballot for a primary runoff election1 a general election1 or a general runoff election1 the amounts described in paragraph 7#a7 may be retained by the candidate and used in such subsequent election4 #ebb4 ,allocations from the ,fund 7a7 ,in general ,the ,commission shall make allocations from the ,fund under section #eba7;a77#a7 to a participating candidate-- 7#a7 in the case of amounts provided under subsection 7c77#a71 not later than #dh hours after the date on which such candidate is certified as a participating candidate under section #ead2 7#b7 in the case of a general election1 not later than #dh hours after-- 7,a7 the date of the certification of the results of the primary election or the primary runoff election2 or 7,b7 in any case in which there is no primary election1 the date the candidate qualifies to be placed on the ballot2 and 7#c7 in the case of a primary runoff election or a general runoff election1 not later than #dh hours after the certification of the results of the primary election or the general election1 as the case may be4 7b7 ,method of payment ,the ,commission shall distribute funds available to participating candidates under this section through the use of an electronic funds exchange or a debit card4 7c7 ,amounts 7#a7 ,primary election allocation2 initial allocation ,except as provided in paragraph 7#e71 the ,commission shall make an allocation from the ,fund for a primary election to a participating candidate in an amount equal to #fg percent of the base amount with respect to such participating candidate4 7#b7 ,primary runoff election allocation ,the ,commission shall make an allocation from the ,fund for a primary runoff election to a participating candidate in an amount equal to #be percent of the amount the participating candidate was eligible to receive under this section for the primary election4 7#c7 ,general election allocation ,except as provided in paragraph 7#e71 the ,commission shall make an allocation from the ,fund for a general election to a participating candidate in an amount equal to the base amount with respect to such candidate4 7#d7 ,general runoff election allocation ,the ,commission shall make an allocation from the ,fund for a general runoff election to a participating candidate in an amount equal to #be percent of the base amount with respect to such candidate4 7#e7 ,uncontested elections 7,a7 ,in general ,in the case of a primary or general election that is an uncontested election1 the ,commission shall make an allocation from the ,fund to a participating candidate for such election in an amount equal to #be percent of the allocation which such candidate would be entitled to under this section for such election if this paragraph did not apply4 7,b7 ,uncontested election defined ,for purposes of this subparagraph1 an election is uncontested if not more than #a candidate has campaign funds 7including payments from the ,fund7 in an amount equal to or greater than #aj percent of the allocation a participating candidate would be entitled to receive under this section for such election if this paragraph did not apply4 7d7 ,base amount 7#a7 ,in general ,except as otherwise provided in this subsection1 the base amount for any candidate is an amount equal to the greater of-- 7,a7 the sum of-- 7i7 #gej1jjj2 plus 7ii7 #aej1jjj for each congressional district in the ,state with respect to which the candidate is seeking election2 or 7,b7 the amount determined by the ,commission under section #eca4 7#b7 ,indexing ,in each even-numbered year after #bjbe-- 7,a7 each dollar amount under paragraph 7#a77;,a7 shall be increased by the percent difference between the price index 7as defined in section #cae7;c77#b77;,a77 for the #ab months preceding the beginning of such calendar year and the price index for calendar year #bjbb2 7,b7 each dollar amount so increased shall remain in effect for the #b-year period beginning on the first day following the date of the last general election in the year preceding the year in which the amount is increased and ending on the date of the next general election2 and 7,c7 if any amount after adjustment under subparagraph 7,a7 is not a multiple of #ajj1 such amount shall be rounded to the nearest multiple of #ajj4 #ebc4 ,matching payments for qualified small dollar contributions 7a7 ,in general ,the ,commission shall pay to each participating candidate an amount equal to #fjj percent of the amount of qualified small dollar contributions received by the candidate from individuals who are residents of the ,state in which such participating candidate is seeking election after the date on which such candidate is certified under section #ead4 7b7 ,limitation ,the aggregate payments under subsection 7a7 with respect to any candidate shall not exceed the greater of-- 7#a7 #djj percent of the allocation such candidate is entitled to receive for such election under section #ebb 7determined without regard to subsection 7c77#e7 thereof72 or 7#b7 the percentage of such allocation determined by the ,commission under section #eca4 7c7 ,time of payment ,the ,commission shall make payments under this section not later than #b business days after the receipt of a report made under subsection 7d74 7d7 ,reports 7#a7 ,in general ,each participating candidate shall file reports of receipts of qualified small dollar contributions at such times and in such manner as the ,commission may by regulations prescribe4 7#b7 ,contents of reports ,each report under this subsection shall disclose-- 7,a7 the amount of each qualified small dollar contribution received by the candidate2 7,b7 the amount of each qualified small dollar contribution received by the candidate from a resident of the ,state in which the candidate is seeking election2 and 7,c7 the name1 address1 and occupation of each individual who made a qualified small dollar contribution to the candidate4 7#c7 ,frequency of reports ,reports under this subsection shall be made no more frequently than-- 7,a7 once every month until the date that is #ij days before the date of the election2 7,b7 once every week after the period described in subparagraph 7,a7 and until the date that is #ba days before the election2 and 7,c7 once every day after the period described in subparagraph 7,b74 7#d7 ,limitation on regulations ,the ,commission may not prescribe any regulations with respect to reporting under this subsection with respect to any election after the date that is #ahj days before the date of such election4 7e7 ,appeals ,the ,commission shall provide a written explanation with respect to any denial of any payment under this section and shall provide the opportunity for review and reconsideration within #e business days of such denial4 #ebd4 ,enhanced matching support 7a7 ,in general ,in addition to the payments made under section #ebc1 the ,commission shall make an additional payment to an eligible candidate under this section4 7b7 ,eligibility ,a candidate is eligible to receive an additional payment under this section if the candidate meets each of the following requirements3 7#a7 ,the candidate is on the ballot for the general election for the office the candidate seeks4 7#b7 ,the candidate is certified as a participating candidate under this title with respect to the election4 7#c7 ,during the enhanced support qualifying period1 the candidate receives qualified small dollar contributions in a total amount of not less than the sum of #ae1jjj for each congressional district in the ,state with respect to which the candidate is seeking election4 7#d7 ,during the enhanced support qualifying period1 the candidate submits to the ,commission a request for the payment which includes-- 7,a7 a statement of the number and amount of qualified small dollar contributions received by the candidate during the enhanced support qualifying period2 7,b7 a statement of the amount of the payment the candidate anticipates receiving with respect to the request2 and 7,c7 such other information and assurances as the ,commission may require4 7#e7 ,after submitting a request for the additional payment under paragraph 7#d71 the candidate does not submit any other application for an additional payment under this title4 7c7 ,amount 7#a7 ,in general ,subject to paragraph 7#b71 the amount of the additional payment made to an eligible candidate under this subtitle shall be an amount equal to #ej percent of-- 7,a7 the amount of the payment made to the candidate under section #ebc with respect to the qualified small dollar contributions which are received by the candidate during the enhanced support qualifying period 7as included in the request submitted by the candidate under 7b77#d77;,a772 or 7,b7 in the case of a candidate who is not eligible to receive a payment under section #ebc with respect to such qualified small dollar contributions because the candidate has reached the limit on the aggregate amount of payments under section #ebc1 the amount of the payment which would have been made to the candidate under section #ebc with respect to such qualified small dollar contributions if the candidate had not reached such limit4 7#b7 ,limit ,the amount of the additional payment determined under paragraph 7#a7 with respect to a candidate may not exceed the sum of #aej1jjj for each congressional district in the ,state with respect to which the candidate is seeking election4 7#c7 ,no effect on aggregate limit ,the amount of the additional payment made to a candidate under this section shall not be included in determining the aggregate amount of payments made to a participating candidate with respect to an election cycle under section #ebc4 #ebe4 ,political advertising vouchers 7a7 ,in general ,the ,commission shall establish and administer a voucher program for the purchase of airtime on broadcasting stations for political advertisements in accordance with the provisions of this section4 7b7 ,candidates ,the ,commission shall only disburse vouchers under the program established under subsection 7a7 to participants certified pursuant to section #ead who have agreed in writing to keep and furnish to the ,commission such records1 books1 and other information as it may require4 7c7 ,amounts ,the ,commission shall disburse vouchers to each candidate certified under subsection 7b7 in an aggregate amount equal to the greater of-- 7#a7 #ajj1jjj multiplied by the number of congressional districts in the ,state with respect to which such candidate is running for office2 or 7#b7 the amount determined by the ,commission under section #eca4 7d7 ,use 7#a7 ,exclusive use ,vouchers disbursed by the ,commission under this section may be used only for the purchase of broadcast airtime for political advertisements relating to a general election for the office of ,senate by the participating candidate to which the vouchers were disbursed1 except that-- 7,a7 a candidate may exchange vouchers with a political party under paragraph 7#b72 and 7,b7 a political party may use vouchers only to purchase broadcast airtime for political advertisements for generic party advertising 7as defined by the ,commission in regulations71 to support candidates for ,state or local office in a general election1 or to support participating candidates of the party in a general election for ,federal office1 but only if it discloses the value of the voucher used as an expenditure under section #cae7;d74 7#b7 ,exchange with political party committee 7,a7 ,in general ,a participating candidate who receives a voucher under this section may transfer the right to use all or a portion of the value of the voucher to a committee of the political party of which the individual is a candidate 7or1 in the case of a participating candidate who is not a member of any political party1 to a committee of the political party of that candidate's choice7 in exchange for money in an amount equal to the cash value of the voucher or portion exchanged4 7,b7 ,continuation of candidate obligations ,the transfer of a voucher1 in whole or in part1 to a political party committee under this paragraph does not release the candidate from any obligation under the agreement made under subsection 7b7 or otherwise modify that agreement or its application to that candidate4 7,c7 ,party committee obligations ,any political party committee to which a voucher or portion thereof is transferred under subparagraph 7,a7-- 7i7 shall account fully1 in accordance with such requirements as the ,commission may establish1 for the receipt of the voucher2 and 7ii7 may not use the transferred voucher or portion thereof for any purpose other than a purpose described in paragraph 7#a77;,b74 7,d7 ,voucher as a contribution under ,,feca ,if a candidate transfers a voucher or any portion thereof to a political party committee under subparagraph 7,a7-- 7i7 the value of the voucher or portion thereof transferred shall be treated as a contribution from the candidate to the committee1 and from the committee to the candidate1 for purposes of sections #cjb and #cjd2 7ii7 the committee may1 in exchange1 provide to the candidate only funds subject to the prohibitions1 limitations1 and reporting requirements of title ,,iii of this ,act2 and 7iii7 the amount1 if identified as a voucher exchange1 shall not be considered a contribution for the purposes of sections #cae and #eac4 7e7 ,value2 acceptance2 redemption 7#a7 ,voucher ,each voucher disbursed by the ,commission under this section shall have a value in dollars1 redeemable upon presentation to the ,commission1 together with such documentation and other information as the ,commission may require1 for the purchase of broadcast airtime for political advertisements in accordance with this section4 7#b7 ,acceptance ,a broadcasting station shall accept vouchers in payment for the purchase of broadcast airtime for political advertisements in accordance with this section4 7#c7 ,redemption ,the ,commission shall redeem vouchers accepted by broadcasting stations under paragraph 7#b7 upon presentation1 subject to such documentation1 verification1 accounting1 and application requirements as the ,commission may impose to ensure the accuracy and integrity of the voucher redemption system4 7#d7 ,expiration 7,a7 ,candidates ,a voucher may only be used to pay for broadcast airtime for political advertisements to be broadcast before midnight on the day before the date of the ,federal election in connection with which it was issued and shall be null and void for any other use or purpose4 7,b7 ,exception for political party committees ,a voucher held by a political party committee may be used to pay for broadcast airtime for political advertisements to be broadcast before midnight on ,december #cast of the odd-numbered year following the year in which the voucher was issued by the ,commission4 7#e7 ,voucher as expenditure under feca ,the use of a voucher to purchase broadcast airtime constitutes an expenditure as defined in section #cja7i77;,a74 7f7 ,definitions ,in this section3 7#a7 ,broadcasting station ,the term broadcasting station has the meaning given that term by section #cae7;f77#a7 of the ,communications ,act of #aicd4 7#b7 ,political party ,the term political party means a major party or a minor party as defined in section #ijjb 7#c7 or 7#d7 of the ,internal ,revenue ,code of #aihf 7#bf ,u4,s4,c4 #ijjb 7#c7 or 7#d774 ,d ,administrative ,provisions #eca4 ,duties of the ,federal ,election ,commission 7a7 ,duties and powers 7#a7 ,administration ,the ,commission shall have the power to administer the provisions of this title and shall prescribe regulations to carry out the purposes of this title1 including regulations-- 7,a7 to establish procedures for-- 7i7 verifying the amount of valid qualifying contributions with respect to a candidate2 7ii7 effectively and efficiently monitoring and enforcing the limits on the raising of qualified small dollar contributions2 7iii7 monitoring the raising of qualifying multicandidate political committee contributions through effectively and efficiently monitoring and enforcing the limits on individual contributions to qualified accounts of multicandidate political committees2 7iv7 effectively and efficiently monitoring and enforcing the limits on the use of personal funds by participating candidates2 7v7 monitoring the use of allocations from the ,fund and matching contributions under this title through audits or other mechanisms2 and 7vi7 the administration of the voucher program under section #ebe2 and 7,b7 regarding the conduct of debates in a manner consistent with the best practices of ,states that provide public financing for elections4 7#b7 ,review of ,fair ,elections financing 7,a7 ,in general ,after each general election for ,federal office1 the ,commission shall conduct a comprehensive review of the ,fair ,elections financing program under this title1 including-- 7i7 the maximum dollar amount of qualified small dollar contributions under section #eja7ac72 7ii7 the maximum and minimum dollar amounts for qualifying contributions under section #eja7ab72 7iii7 the number and value of qualifying contributions a candidate is required to obtain under section #eab to qualify for allocations from the ,fund2 7iv7 the amount of allocations from the ,fund that candidates may receive under section #ebb2 7v7 the maximum amount of matching contributions a candidate may receive under section #ebc2 7vi7 the maximum amount of enhanced matching contributions a candidate may receive under section #ebd2 7vii7 the amount and usage of vouchers under section #ebe2 7viii7 the overall satisfaction of participating candidates and the ,american public with the program2 and 7ix7 such other matters relating to financing of ,senate campaigns as the ,commission determines are appropriate4 7,b7 ,criteria for review ,in conducting the review under subparagraph 7,a71 the ,commission shall consider the following3 7i7 ,qualifying contributions and qualified small dollar contributions ,the ,commission shall consider whether the number and dollar amount of qualifying contributions required and maximum dollar amount for such qualifying contributions and qualified small dollar contributions strikes a balance regarding the importance of voter involvement1 the need to assure adequate incentives for participating1 and fiscal responsibility1 taking into consideration the number of primary and general election participating candidates1 the electoral performance of those candidates1 program cost1 and any other information the ,commission determines is appropriate4 7ii7 ,review of program benefits ,the ,commission shall consider whether the totality of the amount of funds allowed to be raised by participating candidates 7including through qualifying contributions and small dollar contributions71 allocations from the ,fund under section #ebb1 matching contributions under section #ebc1 enhanced matching contributions under section #ebd1 and vouchers under section #ebe are sufficient for voters in each ,state to learn about the candidates to cast an informed vote1 taking into account the historic amount of spending by winning candidates1 media costs1 primary election dates1 and any other information the ,commission determines is appropriate4 7,c7 ,adjustment of amounts 7i7 ,in general ,based on the review conducted under subparagraph 7,a71 the ,commission shall provide for the adjustments of the following amounts3 7,i7 ,the maximum dollar amount of qualified small dollar contributions under section #eja7ac77;,c74 7,,ii7 ,the maximum and minimum dollar amounts for qualifying contributions under section #eja7ab77;,a74 7,,iii7 ,the number and value of qualifying contributions a candidate is required to obtain under section #eab7;a77#a74 7,,iv7 ,the base amount for candidates under section #ebb7;d74 7,v7 ,the maximum amount of matching contributions a candidate may receive under section #ebc7;b74 7,,vi7 ,the maximum amount of enhanced matching contributions a candidate may receive under section #ebd7;c74 7,,vii7 ,the dollar amount for vouchers under section #ebe7;c74 7ii7 ,regulations ,the ,commission shall promulgate regulations providing for the adjustments made under clause 7i74 7,d7 ,report ,not later than ,march #cj following any general election for ,federal office1 the ,commission shall submit a report to ,congress on the review conducted under subparagraph 7,a74 ,such report shall contain a detailed statement of the findings1 conclusions1 and recommendations of the ,commission based on such review4 7b7 ,reports ,not later than ,march #cj1 #bjbd1 and every #b years thereafter1 the ,commission shall submit to the ,senate ,committee on ,rules and ,administration a report documenting1 evaluating1 and making recommendations relating to the administrative implementation and enforcement of the provisions of this title4 7c7 ,authorization of appropriations ,there are authorized to be appropriated such sums as are necessary to carry out the purposes of this subtitle4 #ecb4 ,violations and penalties 7a7 ,civil penalty for violation of contribution and expenditure requirements ,if a candidate who has been certified as a participating candidate under section #ead accepts a contribution or makes an expenditure that is prohibited under section #eac1 the ,commission shall assess a civil penalty against the candidate in an amount that is not more than #c times the amount of the contribution or expenditure4 ,any amounts collected under this subsection shall be deposited into the ,fund4 7b7 ,repayment for improper use of ,fair ,elections ,fund 7#a7 ,in general ,if the ,commission determines that any benefit made available to a participating candidate under this title was not used as provided for in this title or that a participating candidate has violated any of the dates for remission of funds contained in this title1 the ,commission shall so notify the candidate and the candidate shall pay to the ,fund an amount equal to-- 7,a7 the amount of benefits so used or not remitted1 as appropriate2 and 7,b7 interest on any such amounts 7at a rate determined by the ,commission74 7#b7 ,other action not precluded ,any action by the ,commission in accordance with this subsection shall not preclude enforcement proceedings by the ,commission in accordance with section #cji7;a71 including a referral by the ,commission to the ,attorney ,general in the case of an apparent knowing and willful violation of this title4 4 #ajb4 ,prohibition on joint fundraising committees ,section #cjb7;e7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjajb7;e77 is amended by adding at the end the following new paragraph3 7#f7 ,no authorized committee of a participating candidate 7as defined in section #eja7 may establish a joint fundraising committee with a political committee other than an authorized committee of a candidate4 4 #ajc4 ,exception to limitation on coordinated expenditures by political party committees with participating candidates ,section #cae7;d7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjaaf7;d77 is amended-- 7#a7 in paragraph 7#c77;,a71 by striking in the case of and inserting except as provided in paragraph 7#f71 in the case of2 and 7#b7 by adding at the end the following new paragraph3 7#f7 7,a7 ,the limitation under paragraph 7#c77;,a7 shall not apply with respect to any expenditure from a qualified political party-participating candidate coordinated expenditure fund4 7,b7 ,in this paragraph1 the term qualified political party-participating candidate coordinated expenditure fund means a fund established by the national committee of a political party1 or a ,state committee of a political party1 including any subordinate committee of a ,state committee1 for purposes of making expenditures in connection with the general election campaign of a candidate for election to the office of ,senator who is a participating candidate 7as defined in section #eja71 that only accepts qualified coordinated expenditure contributions4 7,c7 ,in this paragraph1 the term qualified coordinated expenditure contribution means1 with respect to the general election campaign of a candidate for election to the office of ,senator who is a participating candidate 7as defined in section #eja71 any contribution 7or series of contributions7-- 7i7 which is made by an individual who is not prohibited from making a contribution under this ,act2 and 7ii7 the aggregate amount of which does not exceed #ejj per election4 4 ,,ii ,improving ,voter ,information #bja4 ,broadcasts relating to all ,senate candidates 7a7 ,lowest unit charge2 national committees ,section #cae7;b77#a7 of the ,communications ,act of #aicd 7#dg ,u4,s4,c4 #cae7;b77#a77 is amended-- 7#a7 in the matter preceding subparagraph 7,a71 by striking to such office and inserting the following3 to such office1 or by a national committee of a political party on behalf of such candidate in connection with such campaign12 and 7#b7 in subparagraph 7,a71 by inserting for preemptible use thereof after station4 7b7 ,preemption2 audits ,section #cae of the ,communications ,act of #aicd 7#dg ,u4,s4,c4 #cae7 is amended-- 7#a7 by redesignating subsections 7c7 and 7d7 as subsections 7f7 and 7g71 respectively and moving them to follow the existing subsection 7e72 7#b7 by redesignating the existing subsection 7e7 as subsection 7c72 and 7#c7 by inserting after subsection 7c7 7as redesignated by paragraph 7#b77 the following3 7d7 ,preemption 7#a7 ,in general ,except as provided in paragraph 7#b71 and notwithstanding the requirements of subsection 7b77#a77;,a71 a licensee shall not preempt the use of a broadcasting station by a legally qualified candidate for ,senate who has purchased and paid for such use4 7#b7 ,circumstances beyond control of licensee ,if a program to be broadcast by a broadcasting station is preempted because of circumstances beyond the control of the station1 any candidate or party advertising spot scheduled to be broadcast during that program shall be treated in the same fashion as a comparable commercial advertising spot4 7e7 ,audits ,during the #cj-;day period preceding a primary or primary runoff election and the #fj-;day period preceding a general or special election1 the ,commission shall conduct such audits as it deems necessary to ensure that each licensee to which this section applies is allocating television broadcast advertising time in accordance with this section and section #cab4 4 7c7 ,revocation of license for failure ,to permit access ,section #cab7;a77#g7 of the ,communications ,act of #aicd 7#dg ,u4,s4,c4 #cab7;a77#g77 is amended-- 7#a7 by striking or repeated2 7#b7 by inserting or cable system after broadcasting station2 and 7#c7 by striking his candidacy and inserting the candidacy of the candidate1 under the same terms1 conditions1 and business practices as apply to the most favored advertiser of the licensee4 7d7 ,technical and conforming amendments ,section #cae of the ,communications ,act of #aicd 7#dg ,u4,s4,c4 #cae7 is amended-- 7#a7 in subsection 7f71 as redesignated by subsection 7b77#a7-- 7,a7 in the matter preceding paragraph 7#a71 by striking ,for purposes of this section-- and inserting the following3 ,definitions4--,for purposes of this section32 7,b7 in paragraph 7#a7-- 7i7 by striking the term and inserting ,broadcasting station4--,the term2 and 7ii7 by striking 2 and and inserting a period2 and 7,c7 in paragraph 7#b71 by striking the terms and inserting ,licensee2 station licensee4--,the terms2 and 7#b7 in subsection 7g71 as redesignated by subsection 7b77#a71 by striking ,the ,commission and inserting ,regulations4--,the ,commission4 #bjb4 ,broadcast rates for participating candidates ,section #cae7;b7 of the ,communications ,act of #aicd 7#dg ,u4,s4,c4 #cae7;b771 as amended by section #bja1 is amended-- 7#a7 in paragraph 7#a77;,a71 by striking paragraph 7#b7 and inserting paragraphs 7#b7 and 7#c72 and 7#b7 by adding at the end the following3 7#c7 ,participating candidates ,in the case of a participating candidate 7as defined in section #eja of the ,federal ,election ,campaign ,act of #aiga71 the charges made for the use of any broadcasting station for a television broadcast shall not exceed #hj percent of the lowest charge described in paragraph 7#a77;,a7 during-- 7,a7 the #de days preceding the date of a primary or primary runoff election in which the candidate is opposed2 and 7,b7 the #fj days preceding the date of a general or special election in which the candidate is opposed4 7#d7 ,rate cards ,a licensee shall provide to a candidate for ,senate a rate card that discloses-- 7,a7 the rate charged under this subsection2 and 7,b7 the method that the licensee uses to determine the rate charged under this subsection4 4 #bjc4 ,,fcc to prescribe standardized form for reporting candidate campaign ads 7a7 ,in general ,not later than #ij days after the date of enactment of this ,act1 the ,federal ,communications ,commission shall initiate a rulemaking proceeding to establish a standardized form to be used by each broadcasting station1 as defined in section #cae7;f7 of the ,communications ,act of #aicd 7#dg ,u4,s4,c4 #cae7;f77 7as redesignated by section #bja7;b77#a771 to record and report the purchase of advertising time by or on behalf of a candidate for nomination for election1 or for election1 to ,federal elective office4 7b7 ,contents ,the form prescribed by the ,federal ,communications ,commission under subsection 7a7 shall require a broadcasting station to report to the ,federal ,communications ,commission and to the ,federal ,election ,commission1 at a minimum-- 7#a7 the station call letters and mailing address2 7#b7 the name and telephone number of the station's sales manager 7or individual with responsibility for advertising sales72 7#c7 the name of the candidate who purchased the advertising time1 or on whose behalf the advertising time was purchased1 and the ,federal elective office for which he or she is a candidate2 7#d7 the name1 mailing address1 and telephone number of the person responsible for purchasing broadcast political advertising for the candidate2 7#e7 notation as to whether the purchase agreement for which the information is being reported is a draft or final version2 and 7#f7 with respect to the advertisement-- 7,a7 the date and time of the broadcast2 7,b7 the program in which the advertisement was broadcast2 and 7,c7 the length of the broadcast airtime4 7c7 ,internet access ,in its rulemaking under subsection 7a71 the ,federal ,communications ,commission shall require any broadcasting station required to file a report under this section that maintains an internet website to make available a link to each such report on that website4 ,,iii ,responsibilities of the ,federal ,election ,commission #cja4 ,petition for certiorari ,section #cjg7;a77#f7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjajg7;a77#f77 is amended by inserting 7including a proceeding before the ,supreme ,court on certiorari7 after appeal4 #cjb4 ,electronic filing of ,,fec reports ,section #cjd7;a77#aa7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjajd7;a77#aa77 is amended-- 7#a7 in subparagraph 7,a71 by striking under this ,act-- and all that follows and inserting under this ,act shall be required to maintain and file such designation1 statement1 or report in electronic form accessible by computers42 7#b7 in subparagraph 7,b71 by striking #dh hours and all that follows through filed electronically7 and inserting #bd hours2 and 7#c7 by striking subparagraph 7,d74 ,,iv ,revenue ,provisions #dja4 ,fair ,elections ,fund revenue 7a7 ,in general ,the ,internal ,revenue ,code of #aihf is amended by inserting after chapter #cf the following new chapter3 #cg ,tax on ,payments ,pursuant to ,certain ,government ,contracts ,sec4 #deja4 ,imposition of tax4 #deja4 ,imposition of tax 7a7 ,tax imposed ,there is hereby imposed on any payment made to a qualified person pursuant to a contract with the ,government of the ,united ,states a tax equal to #j4ej percent of the amount paid4 7b7 ,limitation ,the aggregate amount of tax imposed per contract under subsection 7a7 for any calendar year shall not exceed #ejj1jjj4 7c7 ,qualified person ,for purposes of this section1 the term qualified person means any person which-- 7#a7 is not a ,state or local government1 a foreign nation1 or an organization described in section #eja7;c77#c7 which is exempt from taxation under section #eja7;a71 and 7#b7 has a contract with the ,government of the ,united ,states with a value in excess of #aj1jjj1jjj4 7d7 ,payment of tax ,the tax imposed by this section shall be paid by the person receiving such payment4 7e7 ,use of revenue generated by tax ,it is the sense of the ,senate that amounts equivalent to the revenue generated by the tax imposed under this chapter should be appropriated for the financing of a ,fair ,elections ,fund and used for the public financing of ,senate elections4 4 7b7 ,conforming amendment ,the table of chapters of the ,internal ,revenue ,code of #aihf is amended by inserting after the item relating to chapter #cf the following3 ,chapter #cg--,tax on ,payments ,pursuant to ,certain ,government ,contracts 4 7c7 ,effective date ,the amendments made by this section shall apply to contracts entered into after the date of the enactment of this ,act4 ,v ,miscellaneous ,provisions #eja4 ,severability ,if any provision of this ,act or amendment made by this ,act1 or the application of a provision or amendment to any person or circumstance1 is held to be unconstitutional1 the remainder of this ,act and amendments made by this ,act1 and the application of the provisions and amendment to any person or circumstance1 shall not be affected by the holding4 #ejb4 ,effective date 7a7 ,in general ,except as may otherwise be provided in this ,act and in the amendments made by this ,act1 this ,act and the amendments made by this ,act shall apply with respect to elections occurring during #bjbf or any succeeding year1 without regard to whether or not the ,federal ,election ,commission has promulgated the final regulations necessary to carry out this ,act and the amendments made by this ,act by the deadline set forth in subsection 7b74 7b7 ,deadline for regulations ,not later than ,june #cj1 #bjbd1 the ,federal ,election ,commission shall promulgate such regulations as may be necessary to carry out this ,act and the amendments made by this ,act4