Congressional General Election Campaign Financing Reform Act

[AI summary unavailable — showing source text] Congressional General Election Campaign Financing Reform Act - Adds to the Internal Revenue Code Chapter 97: Congressional General Election Campaign Fund. States that to be eligible to receive payments under this Act, a candidate for election to Federal office shall certify to the Federal Election Commission that: (1) he has been nominated by a political party for such office; (2) he has received contributions of a specific amount; (3) no one individual has given aggregate contributions in excess of $100; and (4) the expenditures made with respect to his campaign have not exceeded applicable limitations. Requires a candidate and his authorized committees to maintain a separate account for all contributions. Provides that every eligible candidate is entitled to payments in an account equal to the aggregate contributions received by such candidate except that such payment may not exceed 50 percent of applicable expenditure limitations. Requires funds received under this Act be used only for qualified campaign expenses. Directs that funds received under this Act be deposited in a separate checking account. Requires the Secretary of the Treasury to maintain in the Presidential Election…