S. 2412 (110th): Presidential Funding Act of 2007

Introduced:
Dec 05, 2007 (110th Congress, 2007–2009)
Sponsor:
Sen. Russell Feingold [D-WI]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as S. 3681 (111th) on Jul 30, 2010.

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on December 5, 2007, in a previous session of Congress, but was not enacted.

Progress
Introduced Dec 05, 2007
Referred to Committee Dec 05, 2007
Cosponsors
7 cosponsors (6D, 1R) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Internal Revenue Code of 1986 to reform the system of public financing for Presidential elections, and for other purposes.

Summary

No summaries available.

Text

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Last updated Dec 05, 2007.
42 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

12/5/2007--Introduced.
Presidential Funding Act of 2007 - Amends Internal Revenue Code provisions relating to public financing of presidential election campaigns to:
(1) quadruple (1:1 to 4:1) the matching rate for contributions to primary election candidates;
(2) lower from $250 to $200 the limit on individual campaign contributions;
(3) increase the presidential primary qualifying threshold from $5,000 to $25,000 in 20 states;
(4) require presidential candidates to participate in the primary payment system to be eligible for general election payments;
(5) move the starting date for payments to primary candidates from January 1 of a presidential election year to six months before the earliest state primary election;
(6) allow additional payments and increased expenditure limits for candidates who face opponents who do not participate in public financing and who raise more than 20% of applicable spending limits;
(7) designate the last Friday before the first Monday in September as the date for payments to eligible presidential candidates; and
(8) increase from $3 to $10 the presidential campaign tax return check-off amount.
Amends the Federal Election Campaign Act of 1971 to:
(1) increase expenditure limits for presidential primary campaigns and eliminate state primary spending limits;
(2) limit political party general election campaign expenditures to $25 million, with an additional $25 million allowance after the party's candidate is nominated;
(3) prohibit political parties from spending unregulated funds (soft money) on their national conventions; and
(4) require presidential campaign committees to disclose information about bundled campaign contributions (series of contributions exceeding specified threshold amounts).
Amends the Energy Policy Act, the Geothermal Steam Act of 1970, and the Public Rangelands Improvement Act of 1978 to increase license fees, royalties, and grazing fees under such Acts.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)