A bill to amend the Federal Election Campaign Act of 1971 to limit contributions by nonparty multicandidate political committees in congressional elections, and for other purposes.

[AI summary unavailable — showing source text] Amends the Federal Election Act of 1971 to treat as a contribution to a congressional candidate any extension of credit for advertising which exceeds $1,000 for a period of more than 30 days. Requires congressional candidates to report within 24 hours expenditures exceeding certain amounts to specified persons designated to receive reports of independent expenditures. Requires such persons to distribute copies of such reports within 24 hours of receipt to every other candidate in the election. Prohibits congressional candidates or their authorized political committees from accepting contributions in any calendar year from non-party multicandidate political committees aggregating more than $90,000 for a candidate for the House of Representatives ($200,000 for a candidate for the Senate, or a larger figure in certain circumstances). Establishes separate formulae for contribution limitations in general and special elections. Deems contributions made in a calendar year other than the year in which the election is held to have been made during the calendar year in which the election is actually held. Declares that expenditures from the personal funds of candidates, or their immediate fa…