To limit contributions by nonparty multicandidate political committees in House of Representatives elections, to provide an income tax credit for contributions to nonincumbent candidates in such elections, and for other purposes.

[AI summary unavailable — showing source text] Amends the Federal Election Compaign Act of 1971 to: (1) limit nonparty multicandidate political committee and out-of-State contributions to House of Representatives candidates; and (2) reduce the reporting threshold for certain contributions and expenditures. Amends the Internal Revenue Code of 1986 to provide an income tax credit for contributions to nonincumbent House of Representatives candidates. Entitles nonincumbent House of Representatives candidates to reduced third class mail rates for campaign materials.…