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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
2/5/1998--Introduced. Electronic Campaign Disclosure Act of 1998 - Amends the Federal Election Campaign Act of 1971 (FECA) to require the Federal Election Commission to: (1) establish a specified public Internet site not later than January 1, 1999; (2) permit persons required to file reports under FECA to file such reports by directly posting them on the Internet site or by filing them electronically to enable the Commission to post reports on such site immediately upon receipt; (3) provide for one or more methods (other than requiring a signature on the reports being filed) for verification of reports filed in accordance with the methods described in the preceding; (4) require a person to file a report in accordance with the methods described during an election cycle if the aggregate amount of contributions and expenditures reported previously by the person during the cycle exceeds $25,000; and (5) obtain and provide for computer software required to carry out this Act through competitive bidding. Requires that if a political committee is required to file reports electronically during an election cycle, the committee shall file a report listing each contribution of $100 or more received by the committee not later than ten days after receipt and include the contributor's identification, the date of receipt and the contribution amount, and (in the case of a candidate's authorized committee) the candidate's name and the office sought by the candidate. Expands the types of contributions required to be reported by principal campaign committees subject to the mandatory electronic reporting requirements under this Act and changes the deadline for reporting such contributions by any authorized committee of a candidate.