Campaign Contribution Reform Act of 1979

Campaign Contribution Reform Act of 1979 - Amends the Federal Election Campaign Act of 1971 to prohibit any multicandidate political committee (other than a multicandidate committee of a political party) from making contributions to a candidate for the office of Senator in the Congress and his or her authorized committees which in any calendar year exceeds: (1) $5,000 with respect to any general or special election and a primary election relating to such election; or (2) $7,500 (but not more than $5,500 for one election) with respect to a general or special election and both a primary and runoff election relating to such election.

Specifies that any contribution made in a year, other than the calendar year in which the election is held, is considered to be made in the calendar year in which such election is held, and any contribution made after the date of such election shall be considered a contribution with respect to such election only if such contribution is used to pay obligations incurred with respect to such election.

Specifies that any extension of credit for goods or services relating to advertising on broadcasting stations, in newspapers or magazines, by direct mail or other similar types of general public political advertising shall be considered a contribution, if such extension of credit is: (1) in an amount of more than $1,000; and (2) for a period of more than 30 days.