Declares that no candidate for Federal office, individual holding Federal office, or any agent of such candidate or officeholder may solicit, receive, or direct: (1) any funds in connection with any Federal election unless they are subject to the limitations, prohibitions, and reporting requirements of such Act; (2) any funds that are to be expended in connection with any non-Federal election unless they are not in excess of the amounts permitted contributions to Federal candidates and political committees, and are not from prohibited sources; or (3) any funds on behalf of any person which are not subject to the limitations, prohibitions, and reporting requirements of such Act if such funds are for the purpose of financing any activity on behalf of a candidate for election to Federal office or any communication which refers to a clearly identified candidate for election to Federal office. Specifies certain exemptions from such prohibitions.
Prohibits a State committee of a political party from transferring any funds to a State committee of a political party of another State, except according to FECA.
Repeals limitations on the amount of coordinated expenditures by the national and State committees of political parties.
Revises contribution limits, and mandates indexing of them.
Provides for expanding disclosure of campaign finance information, including prescribing reporting requirements for expenditures for radio or television broadcast communications regarding a candidate for the Senate or the House of Representatives. Applies such requirements to any person who expends an aggregate amount of more than $25,000 during a calendar year for such communications relating to a single candidate for election to Federal office (or an aggregate amount of more than $100,000 during a calendar year for all such communications relating to all such candidates).
Outlines requirements for Federal Election Commission (FEC) enforcement of FECA and administration, including revised standards for initiation of FEC actions.
Bans the acceptance of any contributions of U.S. or foreign currency which, in the aggregate, exceed $100.
Amends the Federal criminal code to prohibit the solicitation of political party soft money in Federal buildings.