Senate Campaign Reform Act of 2006 - Amends Rule XLI (Political Fund Activity; Definitions) of the Standing Rules of the Senate to prohibit a Member, officer, or employee of the Senate from soliciting, receiving, directing, or authorizing the acceptance of a contribution with respect to a political committee authorized by or affiliated with a Senator, except during the 18 months before the next general election for the Senator's office.
Exempts from this restriction: (1) periods beginning when a candidate opposing a Senator receives contributions or makes expenditures in excess of $100,000; and (2) in cases where a Senator is targeted (by name or office) in broadcast advertisements paid for by an individual or group not affiliated with another candidate, but only to the extent that contributions do not exceed the amount paid for the advertisements. Requires the permitted contributions to be used solely for responding to such advertisements, and funds remaining at the conclusion of such response to be returned to the individual contributors (based on the percentage of the total amount contributed).
Requires the Senator to submit for review to the Select Committee on Ethics the amount raised, copies of the advertisements in question, and the dates and outlets on which the advertisements were run.
Exempts any authorized committee of a Senator who is a candidate for an office other than Senator, but only if such committee is established for running for such other office, and no contribution accepted by the committee is used for running for the office of Senator.