Federal Campaign Reform Act

[AI summary unavailable — showing source text] Federal Campaign Reform Act - Establishes the Federal Election Commission. Empowers the Commission to require reports, issue subpenas, require attendance of witnesses, and require the keeping of recorrds. Directs the Commission to: (1) furnish report forms for statements required under this Act; (2) make such completed reports public to show contributions and expenditures of candidates; (3) audit such reports; and (4) serve as a national clearinghouse for information on administration of elections. Requires candidates to designate one political committee to receive contributions and one bank as a campaign depository. Allows such committees a petty cash fund from which expenditures of up to $50 may be made. Requires all contributions in excess of $10 to be reported in a prescribed manner. Sets forth the manner in which the committee treasurer shall keep account of contributions and expenditures. Provides for a method by which political committees shall register with the Commission and report their receipts and expenditures. Requires the disclosure of names of contributors contributing in excess of $100 and of persons to whom expenditures in excess of $50 have been made. Establishes …