109th CONGRESS
1st Session
H. R. 3960
To amend chapters 95 and 96 of the Internal Revenue Code of 1986
to terminate taxpayer financing of presidential election campaigns.
IN THE HOUSE OF REPRESENTATIVES
September 29, 2005
Mr. NEUGEBAUER introduced the following bill; which was referred to the Committee
on Ways and Means, and in addition to the Committee on House Administration,
for a period to be subsequently determined by the Speaker, in each case for
consideration of such provisions as fall within the jurisdiction of the committee
concerned
A BILL
To amend chapters 95 and 96 of the Internal Revenue Code of 1986
to terminate taxpayer financing of presidential election campaigns.
Be it enacted by the Senate and House of Representatives of the United
States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Taxpayer Campaign Fund Elimination Act of 2005'.
SEC. 2. TERMINATION OF TAXPAYER FINANCING OF PRESIDENTIAL ELECTION CAMPAIGNS.
(a) Termination of Designation of Income Tax Payments- Section 6096 of the
Internal Revenue Code of 1986 is amended by adding at the end the following
new subsection:
`(d) Termination- This section shall not apply to taxable years beginning
after December 31, 2005.'
(b) Termination of Fund and Account-
(1) TERMINATION OF PRESIDENTIAL ELECTION CAMPAIGN FUND-
(A) IN GENERAL- Chapter 95 of subtitle H of such Code is amended by adding
at the end the following new section:
`SEC. 9014. TERMINATION.
`The provisions of this chapter shall not apply with respect to any presidential
election (or any presidential nominating convention) after December 31, 2005,
or to any candidate in such an election.'
(B) TRANSFER OF EXCESS FUNDS TO GENERAL FUND- Section 9006 of such Code
is amended by adding at the end the following new subsection:
`(d) Transfer of Funds Remaining After 2005- The Secretary shall transfer
all amounts in the fund after December 31, 2005, to the general fund of the
Treasury.'
(2) TERMINATION OF ACCOUNT- Chapter 96 of subtitle H of such Code is amended
by adding at the end the following new section:
`SEC. 9043. TERMINATION.
`The provisions of this chapter shall not apply to any candidate with respect
to any presidential election after December 31, 2005.'
(1) The table of sections for chapter 95 of subtitle H of such Code is amended
by adding at the end the following new item:
(2) The table of sections for chapter 96 of subtitle H of such Code is amended
by adding at the end the following new item:
END
