Taxpayer Campaign Fund Elimination Act of 2005

Taxpayer Campaign Fund Elimination Act of 2005 - Amends the Internal Revenue Code to terminate, after 2005: (1) taxpayer checkoffs to finance presidential election campaigns; (2) the Presidential Election Campaign Fund (Fund) and related provisions; and (3) presidential primary matching payment accounts. Directs the Secretary of the Treasury to transfer any amounts remaining in the Fund after 2005 to the general fund of the Treasury.

[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3960 Introduced in House (IH)]







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.''
    (c) Clerical Amendments.--
            (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:

``9014. Termination.''
            (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:

``9043. Termination.''
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