IN THE SENATE OF THE UNITED STATES
September 6, 2007
Mr. Reid (for Mr. Obama (for himself and Mr. Feingold)) introduced the following bill; which was read twice and referred to the Committee on Rules and Administration
To amend the Federal Election Campaign Act of 1971 to require reporting relating to bundled contributions made by persons other than registered lobbyists.
Reporting of bundled contributions by persons other than registered lobbyists
Subsection (i) of section 304 of the Federal Election Campaign Act of 1971 (2 U.S.C. 434(i)), as added by the Honest Leadership and Open Government Act of 2007, is amended—
in paragraph (1),
reasonably known by the committee to be a person described
in paragraph (7);
in paragraph (2),
means, with respect to a committee and all that
threshold. and inserting the
with respect to a committee which is an authorized committee of a candidate for the office of President or for nomination to such office—
the 2-year period preceding the date of the election for the office of the President; and
any reporting period applicable to the committee under this section during which any person provided 2 or more bundled contributions to the committee in an aggregate amount greater than the applicable threshold; and
with respect to any other committee—
the period beginning January 1 and ending June 30 of each year;
the period beginning July 1 and ending December 31 of each year; and
any reporting period applicable to the committee under this section during which any person provided 2 or more bundled contributions to the committee in an aggregate amount greater than the applicable threshold.
in paragraph (3)—
by striking subparagraph (A) and inserting the following:
In this subsection, the applicable threshold is—
$50,000 in the case of a committee which is an authorized committee of a candidate for the office of President or for nomination to such office; and
$15,000 in the case of any other committee.
(B), by striking
the amount each place it appears and inserting
in paragraph (5),
described in paragraph (7) each place it appears in
subparagraphs (C) and (D);
by striking paragraph (7) and inserting the following:
Separate reporting for certain persons
Each committee required to include a schedule under paragraph (1) shall also include a separate schedule setting forth the name, address, and employer of each person listed on the schedule required under paragraph (1) who, at the time a contribution is forwarded to a committee as described in paragraph (8)(A)(i) or is received by a committee as described in paragraph (8)(A)(ii), is—
a current registrant under section 4(a) of the Lobbying Disclosure Act of 1995;
an individual who is listed on a current registration filed under section 4(b)(6) of such Act or a current report under section 5(b)(2)(C) of such Act; or
a political committee established or controlled by such a registrant or individual.
in paragraph (8)(A)—
and a person described in paragraph (7); and
by adding at the end the following flush sentence:
The term bundled contribution shall not include any contribution forwarded by or credited to (through records, designations, or other means of recognizing a certain amount of money has been raised) a person who is a regularly paid employee of the committee.
The amendments made by this section shall take effect as if included in section 204 of the Honest Leadership and Open Government Act of 2007.