To amend the Federal Election Campaign Act of 1971 to prohibit an authorized committee of a winning candidate for election for Federal office which received a personal loan from the candidate from making any repayment on the loan after the date on which the candidate begins serving in such office.

February 11, 2003

Mr. ENGLISH introduced the following bill; which was referred to the Committee on House Administration

To amend the Federal Election Campaign Act of 1971 to prohibit an authorized committee of a winning candidate for election for Federal office which received a personal loan from the candidate from making any repayment on the loan after the date on which the candidate begins serving in such office.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. PROHIBITING REPAYMENT OF CANDIDATE PERSONAL LOANS AFTER DATE ON WHICH CANDIDATE BEGINS SERVING IN ELECTED OFFICE.

Section 315 of the Federal Election Campaign Act of 1971 (2 U.S.C. 441a), as amended by section 304(a) of the Bipartisan Campaign Finance Reform Act of 2002, is amended by adding at the end the following new subsection:

`(k) LIMITATIONS ON REPAYMENT OF PERSONAL LOANS MADE BY CANDIDATE TO COMMITTEE- An authorized committee of a winning candidate for an election for Federal office occurring after December 2003 which received a personal loan from the candidate may not make any repayment with respect to such loan on or after the date on which the candidate begins serving in the office.'.

END