,,ii  #aag? ,,congress  #b;d ,session   
,s4 #ebgg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #ae1 #bjbb,mr4
 ,durb9 7= himself1 ,mr4 ,m>key1 ,mr4   
,murphy1 ,mr4 ,s&]s1 ,ms4 ,klobu*>1 ,ms4
 ,smi?1 ,mr4 ,s*atz1 & ,ms4 ,w>r57      
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to re=m ! f9anc+ ( 
,s5ate elections1 & = o!r purposes4  #a4
 ,%ort title2 table ( cont5ts  7a7 ,%ort
 title ,?is ,act may be cit$ z ! ,fair  
,elections ,n[ ,act ( #bjbb4  7b7 ,table
 ( cont5ts ,! table ( cont5ts ( ?is ,act
 is z foll[s3 ,sec4 #a4 ,%ort title2    
table ( cont5ts4,,title ,i--,small      
,donor ,inc5tive ,programs,sec4 #aja4   
,s5se ( ! ,s5ate reg>d+ small donor     
inc5tive programs4,,title ,,ii--,small  
,doll> ,f9anc+ ( ,s5ate ,election       
,campaigns,sec4 #bja4 ,eligibility      
requirem5ts & b5efits ( fair elections  
f9anc+ ( ,s5ate election campaigns4,sec4
 #bjb4 ,prohibition on jo9t fundrais+   
committees4,sec4 #bjc4 ,exception to    

limitation on coord9at$ exp5ditures by  
political p>ty committees ) p>ticipat+  
c&idates4,,title                        
,,iii--,responsibilities ( ! ,f$]al     
,election ,commission,sec4 #cja4        
,petition = c]tior>i4,sec4 #cjb4        
,electronic fil+ ( ,,fec reports4,,title
 ,,iv--,rev5ue ,provisions,sec4 #dja4   
,fre$om ,f ,influ5ce ,fund              
rev5ue4,,title ,v--,miscellane\s        
,provisions,sec4 #eja4                  
,sev]ability4,sec4 #ejb4 ,effective     
date4  ,i ,small ,donor ,inc5tive       
,programs  #aja4 ,s5se ( ! ,s5ate reg>d+
 small donor inc5tive programs ,x is !  
s5se ( ! ,s5ate t ,congress %\ld take   
/eps to all[ m ,am]icans to fully       
p>ticipate 9 our democracy ?r\gh        
au?oriz+ publicly f9anc$ small donor    
inc5tive programs1 includ+ small-doll>  
v\*] programs t broad5 & div]sify !     
numb] ( ,am]icans :o are able to h _!   
voice he>d 9 ! m>ketplace ( ideas4  ,,ii
 ,small ,doll> ,f9anc+ ( ,s5ate         
,election ,campaigns  #bja4 ,eligibility

 requirem5ts & b5efits ( fair elections 
f9anc+ ( ,s5ate election campaigns ,!   
,f$]al ,election ,campaign ,act ( #aiga 
7#eb ,u4,s4,c4 #cjaja et seq47 is am5d$ 
by add+ at ! end ! foll[+3  ,v ,fair    
,elections ,f9anc+ ( ,s5ate ,election   
,campaigns  ,a ,g5]al provisions  #eja4 
,def9itions ,9 ?is title3 7#a7          
,allocation f ! fund ,! t]m allocation f
 ! ,fund means an allocation ( money f !
 ,fre$om ,f ,influ5ce ,fund to a        
p>ticipat+ c&idate pursuant to section  
#ebb4  7#b7 ,commission ,! t]m          
,commission means ! ,f$]al ,election    
,commission4  7#c7 ,enhanc$ mat*+       
contribution ,! t]m enhanc$ mat*+       
contribution means an enhanc$ mat*+     
paym5t provid$ to a p>ticipat+ c&idate =
 qualifi$ small doll> contributions1 z  
provid$ "u section #ebd4  7#d7 ,enhanc$ 
support qualify+ p]iod ,! t]m enhanc$   
support qualify+ p]iod means1 ) respect 
to a g5]al election1 ! p]iod :i* beg9s  
#fj days be=e ! date ( ! election & ends
 #ad days be=e ! date ( ! election4     

7#e7 ,fair elections qualify+ p]iod ,!  
t]m ,fair ,elections qualify+ p]iod     
means1 ) respect to any c&idate =       
,s5ator1 ! p]iod-- 7,a7 beg9n+ on ! date
 on :i* ! c&idate files a /atem5t (     
int5t "u section #eaa7;a77#a72 &  7,b7  
end+ on ! date t is #cj days be=e-- 7i7 
! date ( ! prim>y election2 or  7ii7 9 !
 case ( a ,/ate t does n hold a prim>y  
election1 ! date prescrib$ by ,/ate law 
z ! la/ day to qualify = a position on !
 g5]al election ballot4  7#f7 ,fair     
elections />t date ,! t]m ,fair         
,elections />t date means1 ) respect to 
any c&idate1 ! date t is #ahj days      
be=e-- 7,a7 ! date ( ! prim>y election2 
or  7,b7 9 ! case ( a ,/ate t does n    
hold a prim>y election1 ! date prescrib$
 by ,/ate law z ! la/ day to qualify = a
 position on ! g5]al election ballot4   
7#g7 ,fund ,! t]m ,fund means ! ,fre$om 
,f ,influ5ce ,fund e/abli%$ by section  
#ejb4  7#h7 ,imm$iate family ,! t]m     
imm$iate family means1 ) respect to any 
c&idate-- 7,a7 ! c&idate's sp\se2  7,b7 

a *ild1 /ep*ild1 p>5t1 gr&p>5t1 bro!r1  
half-bro!r1 si/]1 or half-si/] ( !      
c&idate or ! c&idate's sp\se2 &  7,c7 ! 
sp\se ( any p]son describ$ 9 subp>agraph
 7,b74  7#i7 ,mat*+ contribution ,! t]m 
mat*+ contribution means a mat*+ paym5t 
provid$ to a p>ticipat+ c&idate =       
qualifi$ small doll> contributions1 z   
provid$ "u section #ebc4  7#aj7         
,nonp>ticipat+ c&idate ,! t]m           
nonp>ticipat+ c&idate means a c&idate = 
,s5ator :o is n a p>ticipat+ c&idate4   
7#aa7 ,p>ticipat+ c&idate ,! t]m        
p>ticipat+ c&idate means a c&idate =    
,s5ator :o is c]tifi$ "u section #ead z 
be+ eligible to receive an allocation f 
! ,fund4  7#ab7 ,qualify+ contribution  
,! t]m qualify+ contribution means1 )   
respect to a c&idate1 a contribution t--
 7,a7 is 9 an am\nt t is-- 7i7 n less   
?an #e2 &  7ii7 n m ?an #bjj2  7,b7 is  
made by an individual :o is n o!rwise   
prohibit$ f mak+ a contribution "u ?is  
,act2  7,c7 is made dur+ ! ,fair        
,elections qualify+ p]iod2 &  7,d7 meets

 ! requirem5ts ( section #eab7;b74      
7#ac7 ,qualifi$ small doll> contribution
 ,! t]m qualifi$ small doll>            
contribution means1 ) respect to a      
c&idate1 any contribution 7or s]ies (   
contributions7-- 7,a7 :i* is n a        
qualify+ contribution 7or does n include
 a qualify+ contribution72  7,b7 :i* is 
made by an individual :o is n prohibit$ 
f mak+ a contribution "u ?is ,act2 &    
7,c7 ! aggregate am\nt ( :i* does n     
exce$ #bjj p] election4  7#ad7 ,qualify+
 multic&idate political committee       
contribution  7,a7 ,9 g5]al ,! t]m      
qualify+ multic&idate political         
committee contribution means any        
contribution to a c&idate t is made f a 
qualifi$ acc\nt ( a multic&idate        
political committee 7)9 ! mean+ (       
section #cae7;a77#b774  7,b7 ,qualifi$  
acc\nt ,= purposes ( subp>agraph 7,a71 !
 t]m qualifi$ acc\nt means1 ) respect to
 a multic&idate political committee1 a  
sep>ate1 segregat$ acc\nt ( ! committee 
t consi/s solely ( contributions :i*    

meet ! foll[+ requirem5ts3 7i7 ,all     
contributions to su* acc\nt are made by 
individuals :o are n prohibit$ f mak+   
contributions "u ?is ,act4  7ii7 ,!     
aggregate am\nt ( contributions f ea*   
individual to su* acc\nt & all o!r      
acc\nts ( ! political committee d n     
exce$ ! am\nt describ$ 9 p>agraph       
7#ac77;,c74  #ejb4 ,fre$om f ,influ5ce  
,fund  7a7 ,e/abli%m5t ,!re is e/abli%$ 
9 ! ,treasury a fund to be kn[n z !     
,fre$om f ,influ5ce ,fund4  7b7 ,am\nts 
held by ,fund ,! ,fund %all consi/ ( !  
foll[+ am\nts3 7#a7 ,appropriat$ am\nts 
7,a7 ,9 g5]al ,am\nts appropriat$ to !  
,fund4  7,b7 ,s5se ( ! ,s5ate reg>d+    
appropriations ,x is ! s5se ( ! ,s5ate  
t-- 7i7 !re %\ld be impos$ on any paym5t
 made to any p]son 7o!r ?an a ,/ate or  
local gov]nm5t or a =eign nation7 :o has
 a contract ) ! ,gov]nm5t ( ! ,unit$    
,/ates 9 excess ( #aj1jjj1jjj a tax     
equal to #j4ej p]c5t ( am\nt paid       
pursuant to ea* contract1 except t !    
aggregate tax on ea* contract = any     

taxable ye> %all n exce$ #ejj1jjj2 &    
7ii7 ! rev5ue f su* tax %\ld be         
appropriat$ to ! ,fund4  7#b7 ,volunt>y 
contributions ,volunt>y contributions to
 ! ,fund4  7#c7 ,o!r deposits ,am\nts   
deposit$ into ! ,fund "u-- 7,a7 section 
#eac7;c7 7relat+ to exceptions to       
contribution requirem5ts72  7,b7 section
 #eba7;c7 7relat+ to remittance (       
allocations f ! ,fund72  7,c7 section   
#ecb 7relat+ to violations72 &  7,d7 any
 o!r section ( ?is ,act4  7#d7 ,inve/m5t
 returns ,int]e/ on1 & ! proce$s f1 !   
sale or r$emption (1 any obligations    
held by ! ,fund "u subsection 7c74  7c7 
,inve/m5t ,! ,commission %all inve/     
portions ( ! ,fund 9 obligations ( !    
,unit$ ,/ates 9 ! same mann] z provid$  
"u section #ifjb7;b7 ( ! ,int]nal       
,rev5ue ,code ( #aihf4  7d7 ,use ( ,fund
  7#a7 ,9 g5]al ,! sums 9 ! ,fund %all  
be us$ to provide b5efits to p>ticipat+ 
c&idates z provid$ 9 subtitle ,c4  7#b7 
,insuffici5t am\nts ,"u regulations     
e/abli%$ by ! ,commission1 rules simil> 

to ! rules ( section #ijjf7;c7 ( !      
,int]nal ,rev5ue ,code %all apply4  ,b  
,eligibility & c]tification  #eaa4      
,eligibility  7a7 ,9 g5]al ,a c&idate = 
,s5ator is eligible to receive an       
allocation f ! ,fund = any election if !
 c&idate meets ! foll[+ requirem5ts3    
7#a7 ,! c&idate files ) ! ,commission a 
/atem5t ( int5t to seek c]tification z a
 p>ticipat+ c&idate "u ?is title dur+ ! 
p]iod beg9n+ on ! ,fair ,elections />t  
date & end+ on ! la/ day ( ! ,fair      
,elections qualify+ p]iod4  7#b7 ,!     
c&idate meets ! qualify+ contribution   
requirem5ts ( section #eab4  7#c7 ,!    
c&idate files ) ! ,commission a /atem5t 
c]tify+ t ! au?oriz$ committees ( !     
c&idate meet ! requirem5ts ( section    
#eac7;d77#b74  7#d7 ,n lat] ?an ! la/   
day ( ! ,fair ,elections qualify+ p]iod1
 ! c&idate files ) ! ,commission an     
affidavit sign$ by ! c&idate & !        
treasur] ( ! c&idate's pr9cipal campaign
 committee decl>+ t ! c&idate-- 7,a7 has
 compli$ &1 if c]tifi$1 w comply ) !    

contribution & exp5diture requirem5ts ( 
section #eac2  7,b7 if c]tifi$1 w n run 
z a nonp>ticipat+ c&idate dur+ su* ye> 9
 any election = ! (fice t su* c&idate is
 seek+2 &  7,c7 has ei!r qualifi$ or w  
take /eps to qualify "u ,/ate law to be 
on ! ballot4  7b7 ,g5]al election       
,not)/&+ subsection 7a71 a c&idate %all 
n be eligible to receive an allocation f
 ! ,fund = a g5]al election or a g5]al  
run(f election unless ! c&idate's p>ty  
nom9at$ ! c&idate to be plac$ on !      
ballot = ! g5]al election or ! c&idate  
o!rwise qualifi$ to be on ! ballot "u   
,/ate law4  #eab4 ,qualify+ contribution
 requirem5t  7a7 ,9 g5]al ,a c&idate =  
,s5ator meets ! requirem5t ( ?is section
 if1 dur+ ! ,fair ,elections qualify+   
p]iod1 ! c&idate obta9s-- 7#a7 a numb] (
 qualify+ contributions equal to ! sum  
(-- 7,a7 #b1jjj2 plus  7,b7 #ejj = ea*  
congressional di/rict 9 ! ,/ate )       
respect to :i* ! c&idate is seek+       
election2 &  7#b7 a total doll> am\nt ( 
qualify+ contributions equal to #aj     

p]c5t ( ! am\nt ( ! allocation su*      
c&idate w\ld be entitl$ to receive = !  
prim>y election "u section #ebb7;c77#a7 
7det]m9$ )\t reg>d to p>agraph 7#e7     
!re(7 if su* c&idate 7 a p>ticipat+     
c&idate4  7b7 ,requirem5ts relat+ to    
receipt ( qualify+ contribution ,ea*    
qualify+ contribution-- 7#a7 may be made
 by means ( a p]sonal *eck1 money ord]1 
debit c>d1 cr$it c>d1 or electronic     
paym5t acc\nt2  7#b7 %all be accompani$ 
by a sign$ /atem5t conta9+ !            
contributor's "n & ! contributor's      
address 9 ! ,/ate 9 :i* ! contributor is
 regi/]$ to vote2 &  7#c7 %all be       
ackn[l$g$ by a receipt t is s5t to !    
contributor ) a copy kept by ! c&idate =
 ! ,commission & a copy kept by !       
c&idate = ! election au?orities 9 !     
,/ate ) respect to :i* ! c&idate is     
seek+ election4  7c7 ,v]ification (     
qualify+ contributions ,! ,commission   
%all e/abli% proc$ures = ! audit+ &     
v]ification ( qualify+ contributions to 
ensure t su* contributions meet !       

requirem5ts ( ?is section4  #eac4       
,contribution & exp5diture requirem5ts  
7a7 ,g5]al rule ,a c&idate = ,s5ator    
meets ! requirem5ts ( ?is section if1   
dur+ ! election cycle ( ! c&idate1 !    
c&idate-- 7#a7 except z provid$ 9       
subsection 7b71 accepts no contributions
 o!r ?an-- 7,a7 qualify+ contributions2 
7,b7 qualifi$ small doll> contributions2
  7,c7 qualify+ multic&idate political  
committee contributions2  7,d7          
allocations f ! ,fund "u section #ebb2  
7,e7 mat*+ contributions "u section     
#ebc2  7,f7 enhanc$ mat*+ contributions 
"u section #ebd2  7,g7 v\*]s provid$ to 
! c&idate "u section #ebe2  7,h7 subject
 to subsection 7c71 p]sonal funds ( !   
c&idate or ( any imm$iate family memb] (
 ! c&idate 7o!r ?an funds receiv$ ?r\gh 
qualifi$ small doll> contributions72 &  
7,i7 subject to subsection 7d71         
contributions f individuals :o are      
o!rwise p]mitt$ to make contributions "u
 ?is ,act1 subject to ! applicable      
limitations ( section #cae1 except t !  

aggregate am\nt ( contributions a       
p>ticipat+ c&idate may accept f any     
individual ) respect to any election    
dur+ ! election cycle may n exce$       
#a1jjj2 &  7#b7 makes no exp5ditures f  
any am\nts o!r ?an f-- 7,a7 qualify+    
contributions2  7,b7 qualifi$ small     
doll> contributions2  7,c7 qualify+     
multic&idate political committee        
contributions2  7,d7 allocations f !    
,fund "u section #ebb2  7,e7 mat*+      
contributions "u section #ebc2  7,f7    
enhanc$ mat*+ contributions "u section  
#ebd2  7,g7 v\*]s provid$ to ! c&idate  
"u section #ebe2  7,h7 subject to       
subsection 7c71 p]sonal funds ( !       
c&idate or ( any imm$iate family memb] (
 ! c&idate 7o!r ?an funds receiv$ ?r\gh 
qualifi$ small doll> contributions72 &  
7,i7 subject to subsection 7d71         
contributions f individuals :o are      
o!rwise p]mitt$ to make contributions "u
 ?is ,act1 subject to ! applicable      
limitations ( section #cae1 except t !  
aggregate am\nt ( contributions a       

p>ticipat+ c&idate may accept f any     
individual ) respect to any election    
dur+ ! election cycle may n exce$       
#a1jjj4  ,= purposes ( ?is subsection1 a
 paym5t made by a political p>ty 9      
coord9ation ) a p>ticipat+ c&idate %all 
n be treat$ z a contribution to or z an 
exp5diture made by ! p>ticipat+ c&idate4
  7b7 ,contributions = lead]%ip ,p,a,cs1
 etc ,a political committee ( a         
p>ticipat+ c&idate :i* is n an au?oriz$ 
committee ( su* c&idate may accept      
contributions o!r ?an contributions     
describ$ 9 subsection 7a77#a7 f any     
p]son if-- 7#a7 ! aggregate             
contributions f su* p]son = any cal5d>  
ye> d n exce$ #bjj2 &  7#b7 no portion (
 su* contributions is disburs$ 9        
connection ) ! campaign ( ! p>ticipat+  
c&idate4  7c7 ,special rules = p]sonal  
funds ,a c&idate :o is c]tifi$ z a      
p>ticipat+ c&idate may use p]sonal funds
 7includ+ p]sonal funds ( any imm$iate  
family memb] ( ! c&idate7 s long z--    
7#a7 ! aggregate am\nt us$ ) respect to 

! election cycle 7includ+ any p]iod ( ! 
cycle occurr+ prior to ! c&idate's      
c]tification z a p>ticipat+ c&idate7    
does n exce$ #ej1jjj2 &  7#b7 ! funds   
are us$ only = mak+ direct paym5ts = !  
receipt ( goods & s]vices :i* con/itute 
au?oriz$ exp5ditures 9 connection ) !   
election cycle involv$4  7d7            
,requirem5ts relat+ to subsequ5t        
contributions & notification requirem5ts
  7#a7 ,re/riction on subsequ5t         
contributions  7,a7 ,prohibit+ donor f  
mak+ subsequ5t nonqualifi$ contributions
 dur+ election cycle ,an individual :o  
makes a qualifi$ small doll>            
contribution to a c&idate ) respect to  
an election may n make any subsequ5t    
contribution to su* c&idate ) respect to
 ! election cycle :i* is n a qualifi$   
small doll> contribution4  7,b7         
,treatm5t ( subsequ5t nonqualifi$       
contributions ,if1 not)/&+ ! prohibition
 describ$ 9 subp>agraph 7,a71 an        
individual :o makes a qualifi$ small    
doll> contribution to a c&idate )       

respect to an election makes a subsequ5t
 contribution to su* c&idate ) respect  
to ! election :i* is prohibit$ "u       
subp>agraph 7,a7 because x is n a       
qualifi$ small doll> contribution1 !    
c&idate may take "o ( ! foll[+ actions3 
7i7 ,n lat] ?an #b weeks aft] receiv+ ! 
contribution1 ! c&idate may return !    
subsequ5t contribution to ! individual4 
,9 ! case ( a subsequ5t contribution :i*
 is n a qualifi$ small doll>            
contribution because ! contribution     
fails to meet ! requirem5ts ( p>agraph  
7#ac77;,c7 ( section #eja 7relat+ to !  
aggregate am\nt ( qualifi$ small doll>  
contributions t may be made by an       
individual to a c&idate71 ! c&idate may 
return an am\nt equal to ! diff]5ce     
betwe5 ! am\nt ( ! subsequ5t            
contribution & ! am\nt describ$ 9 su*   
p>agraph4  7ii7 ,! c&idate may reta9 !  
subsequ5t contribution1 s long z n lat] 
?an #b weeks aft] receiv+ ! subsequ5t   
contribution1 ! c&idate remits to !     
,commission = deposit 9 ! ,fre$om f     

,influ5ce ,fund e/abli%$ by section #ejb
 an am\nt equal to any paym5ts receiv$  
by ! c&idate "u ?is title :i* are       
attributable to ! qualifi$ small doll>  
contribution made by ! individual       
involv$4  7,c7 ,no effect on ability to 
make multiple contributions ,no?+ 9 ?is 
subsection may be con/ru$ to prohibit an
 individual f mak+ multiple qualifi$    
small doll> contributions to any c&idate
 or any numb] ( c&idates1 s long z ea*  
contribution meets ! def9ition ( a      
qualifi$ small doll> contribution "u    
section #eja7ac74  7#b7 ,notification   
requirem5ts = c&idates  7,a7            
,notification ,ea* au?oriz$ committee ( 
a c&idate :o seeks to be a p>ticipat+   
c&idate "u ?is title %all provide !     
foll[+ in=mation 9 any mat]ials = !     
solicitation ( contributions1 includ+   
any int]net site ?r\gh :i* individuals  
may make contributions to ! committee3  
7i7 ,a /atem5t t if ! c&idate is c]tifi$
 z a p>ticipat+ c&idate "u ?is title1 ! 
c&idate w receive mat*+ paym5ts 9 an    

am\nt :i* is bas$ on ! total am\nt (    
qualifi$ small doll> contributions      
receiv$4  7ii7 ,a /atem5t t a           
contribution :i* meets ! def9ition ( a  
qualifi$ small doll> contribution "u    
section #eja7ac7 %all be treat$ z a     
qualifi$ small doll> contribution "u ?is
 title4  7iii7 ,a /atem5t t if a        
contribution is treat$ z qualifi$ small 
doll> contribution "u ?is title1 !      
individual :o makes ! contribution may n
 make any contribution to ! c&idate or !
 au?oriz$ committees ( ! c&idate dur+ ! 
election cycle :i* is n a qualifi$ small
 doll> contribution4  7,b7 ,alt]native  
me?ods ( meet+ requirem5ts ,an au?oriz$ 
committee may meet ! requirem5ts (      
subp>agraph 7,a7-- 7i7 by includ+ !     
in=mation describ$ 9 p>agraph 7#a7 9 !  
receipt provid$ "u section #eab7;b77#c7 
to a p]son mak+ a qualifi$ small doll>  
contribution2 or  7ii7 by modify+ !     
in=mation x provides to p]sons mak+     
contributions :i* is o!rwise requir$ "u 
title ,,iii 7includ+ in=mation x        

provides ?r\gh ! int]net74  7e7         
,exception ,not)/&+ subsection 7a71 a   
c&idate %all n be treat$ z hav+ fail$ to
 meet ! requirem5ts ( ?is section if any
 contributions t are n qualifi$ small   
doll> contributions1 qualify+           
contributions1 qualify+ multic&idate    
political committee contributions1 or   
contributions t meet ! requirem5ts (    
subsection 7b7 & t are accept$ be=e !   
date ! c&idate files a /atem5t ( int5t  
"u section #eaa7;a77#a7 are-- 7#a7      
return$ to ! contributor2 or  7#b7      
submitt$ to ! ,commission = deposit 9 ! 
,fund4  #ead4 ,c]tification  7a7 ,9     
g5]al ,n lat] ?an #e days aft] a c&idate
 = ,s5ator files an affidavit "u section
 #eaa7;a77#d71 ! ,commission %all-- 7#a7
 c]tify :e!r or n ! c&idate is a        
p>ticipat+ c&idate2 &  7#b7 notify !    
c&idate ( ! ,commission's det]m9ation4  
7b7 ,revocation ( c]tification  7#a7 ,9 
g5]al ,! ,commission may revoke a       
c]tification "u subsection 7a7 if-- 7,a7
 a c&idate fails to qualify to appe> on 

! ballot at any "t aft] ! date (        
c]tification2 or  7,b7 a c&idate o!rwise
 fails to comply ) ! requirem5ts ( ?is  
title1 includ+ any regulatory           
requirem5ts prescrib$ by ! ,commission4 
7#b7 ,repaym5t ( b5efits ,if            
c]tification is revok$ "u p>agraph 7#a71
 ! c&idate %all repay to ! ,fund an     
am\nt equal to ! value ( b5efits receiv$
 "u ?is title plus int]e/ 7at a rate    
det]m9$ by ! ,commission7 on any su*    
am\nt receiv$4  ,c ,b5efits  #eba4      
,b5efits = p>ticipat+ c&idates  7a7 ,9  
g5]al ,= ea* election ) respect to :i* a
 c&idate is c]tifi$ z a p>ticipat+      
c&idate "u section #ead1 su* c&idate    
%all be entitl$ to-- 7#a7 an allocation 
f ! ,fund to make or obligate to make   
exp5ditures ) respect to su* election1 z
 provid$ 9 section #ebb2  7#b7 mat*+    
contributions1 z provid$ 9 section #ebc2
  7#c7 enhanc$ mat*+ contributions1 z   
provid$ 9 section #ebd2 &  7#d7 = !     
g5]al election1 v\*]s = broadca/s (     
political adv]tisem5ts1 z provid$ 9     

section #ebe4  7b7 ,re/riction on uses (
 allocations f ! fund ,allocations f !  
,fund receiv$ by a p>ticipat+ c&idate "u
 section #ebb1 mat*+ contributions "u   
section #ebc1 & enhanc$ mat*+           
contributions "u section #ebd may only  
be us$ = campaign-relat$ co/s4  7c7     
,remitt+ allocations f ! fund  7#a7 ,9  
g5]al ,n lat] ?an ! date t is #ahj days 
aft] an election 9 :i* ! p>ticipat+     
c&idate appe>$ on ! ballot1 su*         
p>ticipat+ c&idate %all remit to !      
,commission = deposit 9 ! ,fund an am\nt
 equal to ! less] (-- 7,a7 ! am\nt (    
money 9 ! c&idate's campaign acc\nt2 or 
7,b7 ! sum ( ! allocations f ! ,fund    
receiv$ by ! c&idate "u section #ebb1 ! 
mat*+ contributions receiv$ by ! c&idate
 "u section #ebc1 & ! enhanc$ mat*+     
contributions "u section #ebd4  7#b7    
,exceptions  7,a7 ,subsequ5t election ,9
 ! case ( a c&idate :o qualifies to be  
on ! ballot = a prim>y run(f election1 a
 g5]al election1 or a g5]al run(f       
election1 ! am\nts describ$ 9 p>agraph  

7#a7 may be reta9$ by ! c&idate & us$ 9 
su* subsequ5t election4  7,b7 ,c&idate  
seek+ c]tification = next election cycle
 ,not)/&+ p>agraph 7#a71 a p>ticipat+   
c&idate may )hold n m ?an #ajj1jjj f !  
am\nt requir$ to be remitt$ "u p>agraph 
7#a7 if ! c&idate files a sign$         
affidavit ) ! ,commission t ! c&idate w 
seek c]tification z a p>ticipat+ c&idate
 ) respect to ! next election cycle1    
except t ! c&idate may n use any portion
 ( ! am\nt )held until ! c&idate is     
c]tifi$ z a p>ticipat+ c&idate ) respect
 to t next election cycle4 ,if ! c&idate
 fails to seek c]tification z a         
p>ticipat+ c&idate prior to ! la/ day ( 
! qualify+ p]iod = ! next election cycle
 7z describ$ 9 section #eaa71 or if !   
,commission notifies ! c&idate ( !      
,commission's det]m9ation t ! c&idate   
does n meet ! requirem5ts = c]tification
 z a p>ticipat+ c&idate ) respect to su*
 cycle1 ! c&idate %all imm$iately remit 
to ! ,commission ! am\nt )held4  #ebb4  
,allocations f ! fund  7a7 ,9 g5]al ,!  

,commission %all make allocations f !   
,fund "u section #eba7;a77#a7 to a      
p>ticipat+ c&idate-- 7#a7 9 ! case (    
am\nts provid$ "u subsection 7d77#a71   
aft] ! date on :i* su* c&idate is       
c]tifi$ z a p>ticipat+ c&idate "u       
section #ead2  7#b7 9 ! case ( a g5]al  
election aft]-- 7,a7 ! date ( !         
c]tification ( ! results ( ! prim>y     
election or ! prim>y run(f election2 or 
7,b7 9 any case 9 :i* !re is no prim>y  
election1 ! date ! c&idate qualifies to 
be plac$ on ! ballot2 &  7#c7 9 ! case (
 a prim>y run(f election or a g5]al     
run(f election1 aft] ! c]tification ( ! 
results ( ! prim>y election or ! g5]al  
election1 z ! case may be4  7b7 ,me?od (
 paym5t ,! ,commission %all di/ribute   
funds available to p>ticipat+ c&idates  
"u ?is section ?r\gh ! use ( an         
electronic funds ex*ange or a debit c>d4
  7c7 ,tim+ ( paym5t ,! ,commission     
%all1 9 coord9ation ) ! ,secret>y ( !   
,treasury1 take su* /eps z may be       
necess>y to ensure t ! ,secret>y is able

 to make paym5ts "u ?is section f !     
,treasury n lat] ?an #b bus9ess days    
aft] date ( ! applicable c]tification z 
describ$ 9 subsection 7a74  7d7 ,am\nts 
7#a7 ,prim>y election allocation2       
initial allocation ,except z provid$ 9  
p>agraph 7#e71 ! ,commission %all make  
an allocation f ! ,fund = a prim>y      
election to a p>ticipat+ c&idate 9 an   
am\nt equal to #fg p]c5t ( ! base am\nt 
) respect to su* p>ticipat+ c&idate4    
7#b7 ,prim>y run(f election allocation  
,! ,commission %all make an allocation f
 ! ,fund = a prim>y run(f election to a 
p>ticipat+ c&idate 9 an am\nt equal to  
#be p]c5t ( ! am\nt ! p>ticipat+ c&idate
 0 eligible to receive "u ?is section = 
! prim>y election4  7#c7 ,g5]al election
 allocation ,except z provid$ 9 p>agraph
 7#e71 ! ,commission %all make an       
allocation f ! ,fund = a g5]al election 
to a p>ticipat+ c&idate 9 an am\nt equal
 to ! base am\nt ) respect to su*       
c&idate4  7#d7 ,g5]al run(f election    
allocation ,! ,commission %all make an  

allocation f ! ,fund = a g5]al run(f    
election to a p>ticipat+ c&idate 9 an   
am\nt equal to #be p]c5t ( ! base am\nt 
) respect to su* c&idate4  7#e7         
,unconte/$ elections  7,a7 ,9 g5]al ,9 !
 case ( a prim>y or g5]al election t is 
an unconte/$ election1 ! ,commission    
%all make an allocation f ! ,fund to a  
p>ticipat+ c&idate = su* election 9 an  
am\nt equal to #be p]c5t ( ! allocation 
:i* su* c&idate w\ld be entitl$ to "u   
?is section = su* election if ?is       
p>agraph did n apply4  7,b7 ,unconte/$  
election def9$ ,= purposes ( ?is        
subp>agraph1 an election is unconte/$ if
 n m ?an #a c&idate has campaign funds  
7includ+ paym5ts f ! ,fund7 9 an am\nt  
equal to or great] ?an #aj p]c5t ( !    
allocation a p>ticipat+ c&idate w\ld be 
entitl$ to receive "u ?is section = su* 
election if ?is p>agraph did n apply4   
7e7 ,base am\nt  7#a7 ,9 g5]al ,except z
 o!rwise provid$ 9 ?is subsection1 !    
base am\nt = any c&idate is an am\nt    
equal to ! sum (-- 7,a7 #gej1jjj2 plus  

7,b7 #aej1jjj = ea* congressional       
di/rict 9 ! ,/ate ) respect to :i* !    
c&idate is seek+ election4  7#b7 ,index+
 ,9 ea* ev5-numb]$ ye> aft] #bjbg-- 7,a7
 ea* doll> am\nt "u p>agraph 7#a7 %all  
be increas$ by ! p]c5t diff]5ce betwe5 !
 price index 7z def9$ 9 section         
#cae7;c77#b77;,a77 = ! #ab mon?s prec$+ 
! beg9n+ ( su* cal5d> ye> & ! price     
index = cal5d> ye> #bjbb2  7,b7 ea*     
doll> am\nt s increas$ %all rema9 9     
effect = ! #b-ye> p]iod beg9n+ on ! fir/
 day foll[+ ! date ( ! la/ g5]al        
election 9 ! ye> prec$+ ! ye> 9 :i* !   
am\nt is increas$ & end+ on ! date ( !  
next g5]al election2 &  7,c7 if any     
am\nt aft] adju/m5t "u subp>agraph 7,a7 
is n a multiple ( #ajj1 su* am\nt %all  
be r\nd$ to ! ne>e/ multiple ( #ajj4    
#ebc4 ,mat*+ paym5ts = qualifi$ small   
doll> contributions  7a7 ,9 g5]al ,!    
,commission %all pay to ea* p>ticipat+  
c&idate an am\nt equal to #fjj p]c5t ( !
 am\nt ( qualifi$ small doll>           
contributions receiv$ by ! c&idate f    

individuals aft] ! date on :i* su*      
c&idate is c]tifi$ "u section #ead4  7b7
 ,limitation ,! aggregate paym5ts "u    
subsection 7a7 ) respect to any c&idate 
%all n exce$ #djj p]c5t ( ! allocation  
su* c&idate is entitl$ to receive = su* 
election "u section #ebb 7det]m9$ )\t   
reg>d to subsection 7d77#e7 !re(74  7c7 
,"t ( paym5t ,! ,commission %all make   
paym5ts "u ?is section n lat] ?an #b    
bus9ess days aft] ! receipt ( a report  
made "u subsection 7d74  7d7 ,reports   
7#a7 ,9 g5]al ,ea* p>ticipat+ c&idate   
%all file reports ( receipts ( qualifi$ 
small doll> contributions at su* times &
 9 su* mann] z ! ,commission may by     
regulations prescribe4  7#b7 ,cont5ts ( 
reports ,ea* report "u ?is subsection   
%all disclose-- 7,a7 ! am\nt ( ea*      
qualifi$ small doll> contribution       
receiv$ by ! c&idate2 &  7,b7 ! "n1     
address1 & occupation ( ea* individual  
:o made a qualifi$ small doll>          
contribution to ! c&idate4  7#c7        
,frequ5cy ( reports ,reports "u ?is     

subsection %all be made no m frequ5tly  
?an-- 7,a7 once e mon? until ! date t is
 #ij days be=e ! date ( ! election2 &   
7,b7 once e week aft] ! p]iod describ$ 9
 subp>agraph 7,a7 & until ! date ( !    
election4  7#d7 ,limitation on          
regulations ,! ,commission may n        
prescribe any regulations ) respect to  
report+ "u ?is subsection ) respect to  
any election aft] ! date t is #ahj days 
be=e ! date ( su* election4  7e7        
,appeals ,! ,commission %all provide a  
writt5 explanation ) respect to any     
d5ial ( any paym5t "u ?is section & %all
 provide ! opportunity = review &       
reconsid]ation )9 #e bus9ess days ( su* 
d5ial4  #ebd4 ,enhanc$ mat*+ support    
7a7 ,9 g5]al ,9 addition to ! paym5ts   
made "u section #ebc1 ! ,commission %all
 make an additional paym5t to an        
eligible c&idate "u ?is section4  7b7   
,eligibility ,a c&idate is eligible to  
receive an additional paym5t "u ?is     
section if ! c&idate meets ea* ( !      
foll[+ requirem5ts3 7#a7 ,! c&idate is  

on ! ballot = ! g5]al election = ! (fice
 ! c&idate seeks4  7#b7 ,! c&idate is   
c]tifi$ z a p>ticipat+ c&idate "u ?is   
title ) respect to ! election4  7#c7    
,dur+ ! enhanc$ support qualify+ p]iod1 
! c&idate receives qualifi$ small doll> 
contributions 9 a total am\nt ( n less  
?an ! sum ( #ae1jjj = ea* congressional 
di/rict 9 ! ,/ate ) respect to :i* !    
c&idate is seek+ election4  7#d7 ,dur+ !
 enhanc$ support qualify+ p]iod1 !      
c&idate submits to ! ,commission a      
reque/ = ! paym5t :i* includes-- 7,a7 a 
/atem5t ( ! numb] & am\nt ( qualifi$    
small doll> contributions receiv$ by !  
c&idate dur+ ! enhanc$ support qualify+ 
p]iod2  7,b7 a /atem5t ( ! am\nt ( !    
paym5t ! c&idate anticipates receiv+ )  
respect to ! reque/2 &  7,c7 su* o!r    
in=mation & assurances z ! ,commission  
may require4  7#e7 ,aft] submitt+ a     
reque/ = ! additional paym5t "u p>agraph
 7#d71 ! c&idate does n submit any o!r  
application = an additional paym5t "u   
?is title4  7c7 ,am\nt  7#a7 ,9 g5]al   

,subject to p>agraph 7#b71 ! am\nt ( !  
additional paym5t made to an eligible   
c&idate "u ?is subtitle %all be an am\nt
 equal to #ej p]c5t (-- 7,a7 ! am\nt ( !
 paym5t made to ! c&idate "u section    
#ebc ) respect to ! qualifi$ small doll>
 contributions :i* are receiv$ by !     
c&idate dur+ ! enhanc$ support qualify+ 
p]iod 7z includ$ 9 ! reque/ submitt$ by 
! c&idate "u 7b77#d77;,a772 or  7,b7 9 !
 case ( a c&idate :o is n eligible to   
receive a paym5t "u section #ebc )      
respect to su* qualifi$ small doll>     
contributions because ! c&idate has     
rea*$ ! limit on ! aggregate am\nt (    
paym5ts "u section #ebc1 ! am\nt ( !    
paym5t :i* w\ld h be5 made to ! c&idate 
"u section #ebc ) respect to su*        
qualifi$ small doll> contributions if ! 
c&idate _h n rea*$ su* limit4  7#b7     
,limit ,! am\nt ( ! additional paym5t   
det]m9$ "u p>agraph 7#a7 ) respect to a 
c&idate may n exce$ ! sum ( #aej1jjj =  
ea* congressional di/rict 9 ! ,/ate )   
respect to :i* ! c&idate is seek+       

election4  7#c7 ,no effect on aggregate 
limit ,! am\nt ( ! additional paym5t    
made to a c&idate "u ?is section %all n 
be includ$ 9 det]m9+ ! aggregate am\nt (
 paym5ts made to a p>ticipat+ c&idate ) 
respect to an election cycle "u section 
#ebc4  #ebe4 ,political adv]tis+ v\*]s  
7a7 ,9 g5]al ,! ,commission %all e/abli%
 & adm9i/] a v\*] program = ! pur*ase ( 
airtime on broadca/+ /ations = political
 adv]tisem5ts 9 accordance ) !          
provisions ( ?is section4  7b7 ,c&idates
 ,! ,commission %all only disburse v\*]s
 "u ! program e/abli%$ "u subsection 7a7
 to p>ticipants c]tifi$ pursuant to     
section #ead :o h agre$ 9 writ+ to keep 
& furni% to ! ,commission su* records1  
books1 & o!r in=mation z x may require4 
7c7 ,am\nts ,! ,commission %all disburse
 v\*]s to ea* c&idate c]tifi$ "u        
subsection 7b7 9 an aggregate am\nt     
equal to #ajj1jjj multipli$ by ! numb] (
 congressional di/ricts 9 ! ,/ate )     
respect to :i* su* c&idate is runn+ =   
(fice4  7d7 ,use  7#a7 ,exclusive use   

,v\*]s disburs$ by ! ,commission "u ?is 
section may be us$ only = ! pur*ase (   
broadca/ airtime = political            
adv]tisem5ts relat+ to a g5]al election 
= ! (fice ( ,s5ate by ! p>ticipat+      
c&idate to :i* ! v\*]s 7 disburs$1      
except t-- 7,a7 a c&idate may ex*ange   
v\*]s ) a political p>ty "u p>agraph    
7#b72 &  7,b7 a political p>ty may use  
v\*]s only to pur*ase broadca/ airtime =
 political adv]tisem5ts = g5]ic p>ty    
adv]tis+ 7z def9$ by ! ,commission 9    
regulations71 to support c&idates =     
,/ate or local (fice 9 a g5]al election1
 or to support p>ticipat+ c&idates ( !  
p>ty 9 a g5]al election = ,f$]al (fice1 
b only if x discloses ! value ( ! v\*]  
us$ z an exp5diture "u section #cae7;d74
  7#b7 ,ex*ange ) political p>ty        
committee  7,a7 ,9 g5]al ,a p>ticipat+  
c&idate :o receives a v\*] "u ?is       
section may transf] ! "r to use all or a
 portion ( ! value ( ! v\*] to a        
committee ( ! political p>ty ( :i* !    
individual is a c&idate 7or1 9 ! case ( 

a p>ticipat+ c&idate :o is n a memb] (  
any political p>ty1 to a committee ( !  
political p>ty ( t c&idate's *oice7 9   
ex*ange = money 9 an am\nt equal to !   
ca% value ( ! v\*] or portion ex*ang$4  
7,b7 ,cont9uation ( c&idate obligations 
,! transf] ( a v\*]1 9 :ole or 9 "p1 to 
a political p>ty committee "u ?is       
p>agraph does n release ! c&idate f any 
obligation "u ! agreem5t made "u        
subsection 7b7 or o!rwise modify t      
agreem5t or its application to t        
c&idate4  7,c7 ,p>ty committee          
obligations ,any political p>ty         
committee to :i* a v\*] or portion !re( 
is transf]r$ "u subp>agraph 7,a7-- 7i7  
%all acc\nt fully1 9 accordance ) su*   
requirem5ts z ! ,commission may e/abli%1
 = ! receipt ( ! v\*]2 &  7ii7 may n use
 ! transf]r$ v\*] or portion !re( = any 
purpose o!r ?an a purpose describ$ 9    
p>agraph 7#a77;,b74  7,d7 ,v\*] z a     
contribution "u ,,feca ,if a c&idate    
transf]s a v\*] or any portion !re( to a
 political p>ty committee "u subp>agraph

 7,a7-- 7i7 ! value ( ! v\*] or portion 
!re( transf]r$ %all be treat$ z a       
contribution f ! c&idate to ! committee1
 & f ! committee to ! c&idate1 =        
purposes ( sections #cjb & #cjd2  7ii7 !
 committee may1 9 ex*ange1 provide to ! 
c&idate only funds subject to !         
prohibitions1 limitations1 & report+    
requirem5ts ( title ,,iii ( ?is ,act2 & 
7iii7 ! am\nt1 if id5tifi$ z a v\*]     
ex*ange1 %all n be consid]$ a           
contribution = ! purposes ( sections    
#cae & #eac4  7e7 ,value2 acceptance2   
r$emption  7#a7 ,v\*] ,ea* v\*] disburs$
 by ! ,commission "u ?is section %all h 
a value 9 doll>s1 r$eemable ^u          
pres5tation to ! ,commission1 toge!r )  
su* docum5tation & o!r in=mation z !    
,commission may require1 = ! pur*ase (  
broadca/ airtime = political            
adv]tisem5ts 9 accordance ) ?is section4
  7#b7 ,acceptance ,a broadca/+ /ation  
%all accept v\*]s 9 paym5t = ! pur*ase (
 broadca/ airtime = political           
adv]tisem5ts 9 accordance ) ?is section4

  7#c7 ,r$emption ,! ,commission %all   
r$eem v\*]s accept$ by broadca/+ /ations
 "u p>agraph 7#b7 ^u pres5tation1       
subject to su* docum5tation1            
v]ification1 acc\nt+1 & application     
requirem5ts z ! ,commission may impose  
to ensure ! accuracy & integrity ( !    
v\*] r$emption sy/em4  7#d7 ,expiration 
7,a7 ,c&idates ,a v\*] may only be us$  
to pay = broadca/ airtime = political   
adv]tisem5ts to be broadca/ be=e        
midnight on ! day be=e ! date ( ! ,f$]al
 election 9 connection ) :i* x 0 issu$ &
 %all be null & void = any o!r use or   
purpose4  7,b7 ,exception = political   
p>ty committees ,a v\*] held by a       
political p>ty committee may be us$ to  
pay = broadca/ airtime = political      
adv]tisem5ts to be broadca/ be=e        
midnight on ,decemb] #ca/ ( ! odd-numb]$
 ye> foll[+ ! ye> 9 :i* ! v\*] 0 issu$  
by ! ,commission4  7#e7 ,v\*] z         
exp5diture "u feca ,! use ( a v\*] to   
pur*ase broadca/ airtime con/itutes an  
exp5diture z def9$ 9 section            

#cja7i77;,a74  7f7 ,def9itions ,9 ?is   
section3 7#a7 ,broadca/+ /ation ,! t]m  
broadca/+ /ation has ! mean+ giv5 t t]m 
by section #cae7;f77#a7 ( !             
,communications ,act ( #aicd4  7#b7     
,political p>ty ,! t]m political p>ty   
means a major p>ty or a m9or p>ty z     
def9$ 9 section #ijjb 7#c7 or 7#d7 ( !  
,int]nal ,rev5ue ,code ( #aihf 7#bf     
,u4,s4,c4 #ijjb 7#c7 or 7#d774  ,d      
,adm9i/rative provisions  #eca4 ,duties 
( ! ,f$]al ,election ,commission  7a7   
,duties & p[]s  7#a7 ,adm9i/ration ,!   
,commission %all h ! p[] to adm9i/] !   
provisions ( ?is title & %all prescribe 
regulations to c>ry out ! purposes ( ?is
 title1 includ+ regulations-- 7,a7 to   
e/abli% proc$ures =-- 7i7 v]ify+ ! am\nt
 ( valid qualify+ contributions )       
respect to a c&idate2  7ii7 effectively 
& effici5tly monitor+ & en=c+ ! limits  
on ! rais+ ( qualifi$ small doll>       
contributions2  7iii7 monitor+ ! rais+ (
 qualify+ multic&idate political        
committee contributions ?r\gh           

effectively & effici5tly monitor+ &     
en=c+ ! limits on individual            
contributions to qualifi$ acc\nts (     
multic&idate political committees2  7iv7
 effectively & effici5tly monitor+ &    
en=c+ ! limits on ! use ( p]sonal funds 
by p>ticipat+ c&idates2  7v7 monitor+ ! 
use ( allocations f ! ,fund & mat*+     
contributions "u ?is title ?r\gh audits 
or o!r me*anisms2 &  7vi7 ! adm9i/ration
 ( ! v\*] program "u section #ebe2 &    
7,b7 reg>d+ ! conduct ( debates 9 a     
mann] consi/5t ) ! be/ practices (      
,/ates t provide public f9anc+ =        
elections4  7#b7 ,review ( ,fair        
,elections f9anc+  7,a7 ,9 g5]al ,aft]  
ea* g5]al election = ,f$]al (fice1 !    
,commission %all conduct a compreh5sive 
review ( ! ,fair ,elections f9anc+      
program "u ?is title1 includ+-- 7i7 !   
maximum doll> am\nt ( qualifi$ small    
doll> contributions "u section #eja7ac72
  7ii7 ! maximum & m9imum doll> am\nts =
 qualify+ contributions "u section      
#eja7ab72  7iii7 ! numb] & value (      

qualify+ contributions a c&idate is     
requir$ to obta9 "u section #eab to     
qualify = allocations f ! ,fund2  7iv7 !
 am\nt ( allocations f ! ,fund t        
c&idates may receive "u section #ebb2   
7v7 ! maximum am\nt ( mat*+             
contributions a c&idate may receive "u  
section #ebc2  7vi7 ! maximum am\nt (   
enhanc$ mat*+ contributions a c&idate   
may receive "u section #ebd2  7vii7 !   
am\nt & usage ( v\*]s "u section #ebe2  
7viii7 ! ov]all satisfaction (          
p>ticipat+ c&idates & ! ,am]ican public 
) ! program2 &  7ix7 su* o!r matt]s     
relat+ to f9anc+ ( ,s5ate campaigns z ! 
,commission det]m9es are appropriate4   
7,b7 ,crit]ia = review ,9 conduct+ !    
review "u subp>agraph 7,a71 !           
,commission %all consid] ! foll[+3 7i7  
,qualify+ contributions & qualifi$ small
 doll> contributions ,! ,commission %all
 consid] :e!r ! numb] & doll> am\nt (   
qualify+ contributions requir$ & maximum
 doll> am\nt = su* qualify+             
contributions & qualifi$ small doll>    

contributions /rikes a balance reg>d+ ! 
importance ( vot] involvem5t1 ! ne$ to  
assure adequate inc5tives = p>ticipat+1 
& fiscal responsibility1 tak+ into      
consid]ation ! numb] ( prim>y & g5]al   
election p>ticipat+ c&idates1 !         
electoral p]=mance ( ^? c&idates1       
program co/1 & any o!r in=mation !      
,commission det]m9es is appropriate4    
7ii7 ,review ( program b5efits ,!       
,commission %all consid] :e!r ! totality
 ( ! am\nt ( funds all[$ to be rais$ by 
p>ticipat+ c&idates 7includ+ ?r\gh      
qualify+ contributions & small doll>    
contributions71 allocations f ! ,fund "u
 section #ebb1 mat*+ contributions "u   
section #ebc1 enhanc$ mat*+             
contributions "u section #ebd1 & v\*]s  
"u section #ebe are suffici5t = vot]s 9 
ea* ,/ate to le>n ab\t ! c&idates to ca/
 an in=m$ vote1 tak+ into acc\nt !      
hi/oric am\nt ( sp5d+ by w9n+ c&idates1 
m$ia co/s1 prim>y election dates1 & any 
o!r in=mation ! ,commission det]m9es is 
appropriate4  7,c7 ,recomm5dations =    

adju/m5t ( am\nts ,bas$ on ! review     
conduct$ "u subp>agraph 7,a71 !         
,commission %all make recomm5dations to 
,congress = any adju/m5t ( ! foll[+     
am\nts3 7i7 ,! maximum doll> am\nt (    
qualifi$ small doll> contributions "u   
section #eja7ac77;,c74  7ii7 ,! maximum 
& m9imum doll> am\nts = qualify+        
contributions "u section #eja7ab77;,a74 
7iii7 ,! numb] & value ( qualify+       
contributions a c&idate is requir$ to   
obta9 "u section #eab7;a77#a74  7iv7 ,! 
base am\nt = c&idates "u section        
#ebb7;d74  7v7 ,! maximum am\nt ( mat*+ 
contributions a c&idate may receive "u  
section #ebc7;b74  7vi7 ,! maximum am\nt
 ( enhanc$ mat*+ contributions a c&idate
 may receive "u section #ebd7;c74  7vii7
 ,! doll> am\nt = v\*]s "u section      
#ebe7;c74  7,d7 ,report ,n lat] ?an ,m>*
 #cj foll[+ any g5]al election = ,f$]al 
(fice1 ! ,commission %all submit a      
report to ,congress on ! review conduct$
 "u subp>agraph 7,a7 & any              
recomm5dations develop$ "u subp>agraph  

7,c74 ,su* report %all conta9 a detail$ 
/atem5t ( ! f9d+s1 conclusions1 &       
recomm5dations ( ! ,commission bas$ on  
su* review4  7b7 ,reports ,n lat] ?an   
,m>* #cj1 #bjbf1 & e #b ye>s !reaft]1 ! 
,commission %all submit to ! ,s5ate     
,committee on ,rules & ,adm9i/ration a  
report docum5t+1 evaluat+1 & mak+       
recomm5dations relat+ to ! adm9i/rative 
implem5tation & en=cem5t ( ! provisions 
( ?is title4  7c7 ,au?orization (       
appropriations ,!re are au?oriz$ to be  
appropriat$ su* sums z are necess>y to  
c>ry out ! purposes ( ?is subtitle4     
#ecb4 ,violations & p5alties  7a7 ,civil
 p5alty = violation ( contribution &    
exp5diture requirem5ts ,if a c&idate :o 
has be5 c]tifi$ z a p>ticipat+ c&idate  
"u section #ead accepts a contribution  
or makes an exp5diture t is prohibit$ "u
 section #eac1 ! ,commission %all assess
 a civil p5alty aga9/ ! c&idate 9 an    
am\nt t is n m ?an #c times ! am\nt ( ! 
contribution or exp5diture4 ,any am\nts 
collect$ "u ?is subsection %all be      

deposit$ into ! ,fund4  7b7 ,repaym5t = 
improp] use ( fre$om f influ5ce fund    
7#a7 ,9 g5]al ,if ! ,commission det]m9es
 t any b5efit made available to a       
p>ticipat+ c&idate "u ?is title 0 n us$ 
z provid$ = 9 ?is title or t a          
p>ticipat+ c&idate has violat$ any ( !  
dates = remission ( funds conta9$ 9 ?is 
title1 ! ,commission %all s notify !    
c&idate & ! c&idate %all pay to ! ,fund 
an am\nt equal to-- 7,a7 ! am\nt (      
b5efits s us$ or n remitt$1 z           
appropriate2 &  7,b7 int]e/ on any su*  
am\nts 7at a rate det]m9$ by !          
,commission74  7#b7 ,o!r action n       
preclud$ ,any action by ! ,commission 9 
accordance ) ?is subsection %all n      
preclude en=cem5t proce$+s by !         
,commission 9 accordance ) section      
#cji7;a71 includ+ a ref]ral by !        
,commission to ! ,attorney ,g5]al 9 !   
case ( an app>5t kn[+ & willful         
violation ( ?is title4  4  #bjb4        
,prohibition on jo9t fundrais+          
committees ,section #cjb7;e7 ( ! ,f$]al 

,election ,campaign ,act ( #aiga 7#eb   
,u4,s4,c4 #cjajb7;e77 is am5d$ by add+  
at ! end ! foll[+ new p>agraph3  7#f7   
,no au?oriz$ committee ( a p>ticipat+   
c&idate 7z def9$ 9 section #eja7 may    
e/abli% a jo9t fundrais+ committee ) a  
political committee o!r ?an an au?oriz$ 
committee ( a c&idate4  4  #bjc4        
,exception to limitation on coord9at$   
exp5ditures by political p>ty committees
 ) p>ticipat+ c&idates ,section #cae7;d7
 ( ! ,f$]al ,election ,campaign ,act (  
#aiga 7#eb ,u4,s4,c4 #cjaaf7;d77 is     
am5d$-- 7#a7 9 p>agraph 7#c77;,a71 by   
/rik+ 9 ! case ( & ins]t+ except z      
provid$ 9 p>agraph 7#f71 9 ! case (2 &  
7#b7 by add+ at ! end ! foll[+ new      
p>agraph3  7#f7 7,a7 ,! limitation "u   
p>agraph 7#c77;,a7 %all n apply )       
respect to any exp5diture f a qualifi$  
political p>ty-p>ticipat+ c&idate       
coord9at$ exp5diture fund4  7,b7 ,9 ?is 
p>agraph1 ! t]m qualifi$ political      
p>ty-p>ticipat+ c&idate coord9at$       
exp5diture fund means a fund e/abli%$ by

 ! national committee ( a political     
p>ty1 or a ,/ate committee ( a political
 p>ty1 includ+ any subord9ate committee 
( a ,/ate committee1 = purposes ( mak+  
exp5ditures 9 connection ) ! g5]al      
election campaign ( a c&idate = election
 to ! (fice ( ,s5ator :o is a p>ticipat+
 c&idate 7z def9$ 9 section #eja71 t    
only accepts qualifi$ coord9at$         
exp5diture contributions4  7,c7 ,9 ?is  
p>agraph1 ! t]m qualifi$ coord9at$      
exp5diture contribution means1 ) respect
 to ! g5]al election campaign ( a       
c&idate = election to ! (fice ( ,s5ator 
:o is a p>ticipat+ c&idate 7z def9$ 9   
section #eja71 any contribution 7or     
s]ies ( contributions7-- 7i7 :i* is made
 by an individual :o is n prohibit$ f   
mak+ a contribution "u ?is ,act2 &  7ii7
 ! aggregate am\nt ( :i* does n exce$   
#ejj p] election4  4  ,,iii             
,responsibilities ( ! ,f$]al ,election  
,commission  #cja4 ,petition = c]tior>i 
,section #cjg7;a77#f7 ( ! ,f$]al        
,election ,campaign ,act ( #aiga 7#eb   

,u4,s4,c4 #cjajg7;a77#f77 is am5d$ by   
ins]t+ 7includ+ a proce$+ be=e !        
,supreme ,c\rt on c]tior>i7 aft] appeal4
  #cjb4 ,electronic fil+ ( ,,fec reports
 ,section #cjd7;a77#aa7 ( ! ,f$]al      
,election ,campaign ,act ( #aiga 7#eb   
,u4,s4,c4 #cjajd7;a77#aa77 is am5d$--   
7#a7 9 subp>agraph 7,a71 by /rik+ "u ?is
 ,act-- & all t foll[s & ins]t+ "u ?is  
,act %all be requir$ to ma9ta9 & file   
su* designation1 /atem5t1 or report 9   
electronic =m accessible by comput]s42  
7#b7 9 subp>agraph 7,b71 by /rik+ #dh   
h\rs & all t foll[s ?r\gh fil$          
electronically7 & ins]t+ #bd h\rs2 &    
7#c7 by /rik+ subp>agraph 7,d74  ,,iv   
,rev5ue ,provisions  #dja4 ,fre$om ,f   
,influ5ce ,fund rev5ue  7a7 ,9 g5]al ,! 
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] *apt] #cf ! foll[+ new   
*apt]3  #cg ,tax on ,paym5ts ,pursuant  
to ,c]ta9 ,gov]nm5t ,contracts  ,sec4   
#deja4 ,imposition ( tax4  #deja4       
,imposition ( tax  7a7 ,tax impos$ ,!re 
is h]eby impos$ on any paym5t made to a 

qualifi$ p]son pursuant to a contract ) 
! ,gov]nm5t ( ! ,unit$ ,/ates a tax     
equal to #j4ej p]c5t ( ! am\nt paid4    
7b7 ,limitation ,! aggregate am\nt ( tax
 impos$ p] contract "u subsection 7a7 = 
any cal5d> ye> %all n exce$ #ejj1jjj4   
7c7 ,qualifi$ p]son ,= purposes ( ?is   
section1 ! t]m qualifi$ p]son means any 
p]son :i*-- 7#a7 is n a ,/ate or local  
gov]nm5t1 a =eign nation1 or an         
organization describ$ 9 section         
#eja7;c77#c7 :i* is exempt f taxation "u
 section #eja7;a71 &  7#b7 has a        
contract ) ! ,gov]nm5t ( ! ,unit$ ,/ates
 ) a value 9 excess ( #aj1jjj1jjj4  7d7 
,paym5t ( tax ,! tax impos$ by ?is      
section %all be paid by ! p]son receiv+ 
su* paym5t4  7e7 ,use ( rev5ue g5]at$ by
 tax ,x is ! s5se ( ! ,s5ate t am\nts   
equival5t to ! rev5ue g5]at$ by ! tax   
impos$ "u ?is *apt] %\ld be appropriat$ 
= ! f9anc+ ( a ,fre$om ,f ,influ5ce     
,fund & us$ = ! public f9anc+ ( ,s5ate  
elections4  4  7b7 ,con=m+ am5dm5t ,!   
table ( *apt]s ( ! ,int]nal ,rev5ue     

,code ( #aihf is am5d$ by ins]t+ aft] ! 
item relat+ to *apt] #cf ! foll[+3      
,*apt] #cg--,tax on ,paym5ts ,pursuant  
to ,c]ta9 ,gov]nm5t ,contracts  4  7c7  
,effective date ,! am5dm5ts made by ?is 
section %all apply to contracts ent]$   
into aft] ! date ( ! enactm5t ( ?is     
,act4  ,v ,miscellane\s ,provisions     
#eja4 ,sev]ability ,if any provision (  
?is ,act or am5dm5t made by ?is ,act1 or
 ! application ( a provision or am5dm5t 
to any p]son or circum/ance1 is held to 
be uncon/itutional1 ! rema9d] ( ?is ,act
 & am5dm5ts made by ?is ,act1 & !       
application ( ! provisions & am5dm5t to 
any p]son or circum/ance1 %all n be     
affect$ by ! hold+4  #ejb4 ,effective   
date  7a7 ,9 g5]al ,except z may o!rwise
 be provid$ 9 ?is ,act & 9 ! am5dm5ts   
made by ?is ,act1 ?is ,act & ! am5dm5ts 
made by ?is ,act %all apply ) respect to
 elections occurr+ dur+ #bjbh or any    
succe$+ ye>1 )\t reg>d to :e!r or n !   
,f$]al ,election ,commission has        
promulgat$ ! f9al regulations necess>y  

to c>ry out ?is ,act & ! am5dm5ts made  
by ?is ,act by ! deadl9e set =? 9       
subsection 7b74  7b7 ,deadl9e =         
regulations ,n lat] ?an ,june #cj1      
#bjbf1 ! ,f$]al ,election ,commission   
%all promulgate su* regulations z may be
 necess>y to c>ry out ?is ,act & !      
am5dm5ts made by ?is ,act4