Laws: Cases and Codes : U.S. Code : Title 2 : Section 432
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U.S. Code as of:
01/3/05
Section 432 - Notes
SOURCE
(Pub. L. 92-225, title III, Sec. 302, Feb. 7, 1972, 86 Stat. 12;
Pub. L. 93-443, title II, Secs. 202, 208(c)(2), Oct. 15, 1974, 88
Stat. 1275, 1286; Pub. L. 94-283, title I, Sec. 103, May 11, 1976,
90 Stat. 480; Pub. L. 96-187, title I, Sec. 102, Jan. 8, 1980, 93
Stat. 1345; Pub. L. 99-514, Sec. 2, Oct. 22, 1986, 100 Stat. 2095;
Pub. L. 104-79, Secs. 1(b), 3(a), Dec. 28, 1995, 109 Stat. 791,
792; Pub. L. 105-61, title VI, Sec. 637, Oct. 10, 1997, 111 Stat.
1316; Pub. L. 108-447, div. H, title V, Sec. 525, Dec. 8, 2004, 118
Stat. 3271.)
REFERENCES IN TEXT
This Act, referred to in text, means the Federal Election
Campaign Act of 1971, as amended, as defined by section 431 of this
title.
AMENDMENTS
2004 - Subsec. (e)(3)(B). Pub. L. 108-447 substituted "$2,000"
for "$1,000".
1997 - Subsec. (g)(1). Pub. L. 105-55 struck out "and" after
"Senator," and inserted "and by the Republican and Democratic
Senatorial Campaign Committees" after "candidate,".
1995 - Subsec. (d). Pub. L. 104-79, Sec. 1(b), inserted at end
"For any report filed in electronic format under section 434(a)(11)
of this title, the treasurer shall retain a machine-readable copy
of the report as the copy preserved under the preceding sentence."
Subsec. (g)(1). Pub. L. 104-79, Sec. 3(a)(1), (2), redesignated
par. (2) as (1) and struck out former par. (1) which read as
follows: "Designations, statements, and reports required to be
filed under this Act by a candidate or by an authorized committee
of a candidate for the office of Representative in, or Delegate or
Resident Commissioner to, the Congress, and by the principal
campaign committee of such a candidate, shall be filed with the
Clerk of the House of Representatives, who shall receive such
designations, statements, and reports as custodian for the
Commission."
Subsec. (g)(2). Pub. L. 104-79, Sec. 3(a)(2), (3), redesignated
par. (3) as (2), struck out "Clerk of the House of Representatives
and the" before "Secretary of the Senate", and substituted "filed
with the Secretary" for "filed with them". Former par. (2)
redesignated (1).
Subsec. (g)(3). Pub. L. 104-79, Sec. 3(a)(2), (4), redesignated
par. (4) as (3) and substituted "paragraph (1)" for "paragraphs (1)
and (2)". Former par. (3) redesignated (2).
Subsec. (g)(4). Pub. L. 104-79, Sec. 3(a)(2), (5), redesignated
par. (5) as (4) and struck out "Clerk of the House of
Representatives and the" before "Secretary of the Senate". Former
par. (4) redesignated (3).
Subsec. (g)(5). Pub. L. 104-79, Sec. 3(a)(2), redesignated par.
(5) as (4).
1986 - Subsec. (i). Pub. L. 99-514 substituted "Internal Revenue
Code of 1986" for "Internal Revenue Code of 1954", which for
purposes of codification was translated as "title 26" thus
requiring no change in text.
1980 - Subsec. (a). Pub. L. 96-187 struck out reference to the
chairman as a person authorized to accept or make a contribution on
behalf of a political committee.
Subsec. (b). Pub. L. 96-187 redesignated subsec. (b) as par. (1)
of subsec. (b), substituted "for an authorized political committee
shall, no later than 10 days after receiving such contribution,
forward to the treasurer such contribution, and if the amount of
the contribution is in excess of $50 the name and address of the
person making the contribution and the date of the receipt." for
"in excess of $50 for a political committee shall, on demand of the
treasurer, and in any event within five days after receipt of such
contribution, render to the treasurer a detailed account thereof,
including the amount of the contribution and the identification of
the person making such contribution, and the date on which
received. All funds of a political committee shall be segregated
from, and may not be commingled with, any personal funds of
officers, members, or associates of such committee.", and added
pars. (2) and (3).
Subsec. (c). Pub. L. 96-187 substituted "The treasurer of a
political committee shall keep an account of" for "It shall be the
duty of the treasurer of a political committee to keep a detailed
and exact account of" in introductory clause; substituted in par.
(1) "all contributions received by or on behalf of such political
committee" for "all contributions made to or for such committee";
substituted in par. (2) "the name and address of any person who
makes any contribution in excess of $50, together with the date and
amount of such contribution by any person" for "the identification
of every person making a contribution in excess of $50, and the
date and amount thereof and, if a person's contributions
aggregating more than $100, the account shall include occupation,
and the principal place of business (if any)"; substituted in par.
(3) "the identification of any person who makes a contribution or
contributions aggregating more than $200 during a calendar year,
together with the date and amount of any such contribution" for
"all expenditures made by or on behalf of such committee; and";
substituted in par. (4) "the identification of any political
committee which makes a contribution, together with the date and
amount of any such contribution, and" for "the identification of
every person to whom any expenditure is made, the date and amount
thereof and the name and address of, and office sought by, each
candidate on whose behalf such expenditure was made", and added
par. (5).
Subsec. (d). Pub. L. 96-187 substituted provisions requiring the
treasurer to preserve all records required by this section and
copies of all reports to be filed by this subchapter for 3 years
after the filing of the report for provisions requiring the
treasurer to keep receipted bills for expenditures in excess of
$100, and for expenditures of lesser amounts if the aggregate
amount to the same person during a calendar year exceeds $100, such
receipts to be kept for a period to be determined by the Secretary.
Subsec. (e). Pub. L. 96-187 in par. (1) substituted provisions
requiring a written designation of a political committee no later
than 15 days after becoming a candidate, with the designation of
additional committees to be filed with the principal committee, for
provisions prohibiting the designation of a committee as the
principal campaign committee of more than one candidate except that
the presidential candidate may nominate the national committee of a
political party as his principal campaign committee; in par. (2)
substituted provisions considering any candidate receiving a
contribution or loan or making a disbursement as an agent of the
authorized committees for provisions requiring the filing of any
report or statement of contributions required to be filed with the
Commission to be filed instead with the principal campaign
committee; in par. (3) redesignated existing provisions as
introductory clause of par. (3)(A), and in such clause as so
redesignated, substituted provision that no political committee
which supports or has supported more than one candidate may be
designated as an authorized committee for provisions requiring
principal committee to receive reports and statements and to
compile and file such reports and statements together with its own
reports and statements with the Commission, and added pars.
(3)(A)(i), (ii), (4) and (5).
Subsecs. (f) to (i). Pub. L. 96-187 added subsecs. (f) to (i).
1976 - Subsec. (b). Pub. L. 94-283, Sec. 103(a), substituted
"$50" for "$10".
Subsec. (c)(2). Pub. L. 94-283, Sec. 103(b), substituted "$50"
for "$10".
Subsecs. (e), (f). Pub. L. 94-283, Sec. 103(c), (d), redesignated
subsec. (f) as (e) and in par. (1) of subsec. (e) as so
redesignated inserted provision that occasional, isolated, or
incidental support of a candidate not be construed as support for
such a candidate for purposes of determining whether a political
committee supports more than one candidate. Former subsec. (e)
providing for the giving of notice by a candidate that a political
committee soliciting funds on his behalf is not authorized to do so
and that he is not responsible for the activities of that committee
was eliminated.
1974 - Subsec. (b). Pub. L. 93-443, Sec. 202(a)(1), substituted
"of the contribution and the identification" for ", the name and
address (occupation and principal place of business, if any)".
Subsec. (c)(2). Pub. L. 93-443, Sec. 202(a)(2), (3), substituted
"identification" for "full name and mailing address (occupation and
the principal place of business, if any)" before "of every person"
and inserted end text reading "and, if a person's contributions
aggregate more than $100, the account shall include occupation, and
the principal place of business (if any)".
Subsec. (c)(4). Pub. L. 93-443, Sec. 202(a)(2), substituted
"identification" for "full name and mailing address (occupation and
the principal place of business, if any)" before "of every person".
Subsec. (d). Pub. L. 93-443, Sec. 208(c)(2), substituted
"Commission" for "supervisory officers".
Subsec. (f). Pub. L. 93-443, Sec. 202(b), substituted provisions
respecting principal campaign committees for prior provisions
respecting notice of funds solicitation by political committees and
availability for purchase of annual reports of the political
committees from the Superintendent of Documents made available
through the Public Printer, now covered in section 435(b) of this
title.
TRANSFER OF FUNCTIONS
Federal Savings and Loan Insurance Corporation abolished and
functions transferred, see Pub. L. 101-73, title IV, Secs. 401-406,
Aug. 9, 1989, 103 Stat. 354-363, set out as a note under section
1437 of Title 12, Banks and Banking.
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