PRESIDENTIAL ELECTION CAMPAIGN FUND ACT.

SEC. 801. PRESIDENTIAL ELECTION CAMPAIGN FUND ACT.The Internal Revenue Code of 1954 is amended by adding at the end thereof the following new subtitle: “Subtitle H—Financing of Presidential Election Campaigns “Chapter 95. Presidential election campaign fund. “Chapter 96. Presidential election campaign fund advisory board. “CHAPTER 95—PRESIDENTIAL ELECTION CAMPAIGN FUND “Sec. 9001. Short title. “Sec. 9002. Definitions. “Sec. 9003. Condition for eligibility for payments. “Sec. 9004. Entitlement of eligible candidates to payments. “Sec. 9005. Certification by Comptroller General. “Sec. 9006. Payments to eligible candidates. “Sec. 9007. Examinations and audits; repayments. “Sec. 9008. Information on proposed expenses. 85 Stat. 563 “Sec. 9009. Reports to Congress; regulations. “Sec. 9010. Participation by Comptroller General in judicial proceedings. “Sec. 9011. Judicial review. “Sec. 9012. Criminal penalties. “Sec. 9013. Effective date of chapter. “SEC. 9001. SHORT TITLE.“This chapter may be cited as the ‘Presidential Election Campaign Fund Act’. “SEC. 9002. DEFINITIONS.“For purposes of this chapter— “(1) The term ‘authorized committee’ means, with respect to the candidates of a political party for President and Vice President of the United States, any political committee which is authorized in writing by such candidates to incur expenses to further the election of such candidates. Such authorization shall be addressed to the chairman of such political committee, and a copy of such authorization shall be filed by such candidates with the Comptroller General. Any withdrawal of any authorization shall also be in writing and shall be addressed and filed in the same manner as the authorization. “(2) The term ‘candidate’ means, with respect to any presidential election, an individual who (A) has been nominated for election to the office of President of the United States or the office of Vice President of the United States by a major party, or (B) has qualified to have his name on the election ballot (or to have the names of electors pledged to him on the election ballot) as the candidate of a political party for election to either such office in 10 or more States. For purposes of paragraphs (6) and (7) of this section and purposes of section 9004(a) (2), the term ‘candidate’ means, with respect to any preceding presidential election, an individual who received popular votes for the office of President in such election. “(3) The term ‘Comptroller General’ means the Comptroller General of the United States. “(4) The term ‘eligible candidates’ means the candidates of a political party for President and Vice President of the United States who have met all applicable conditions for eligibility to receive payments under this chapter set forth in section 9003. “(5) The term ‘fund’ means the Presidential Election Campaign Fund established by section 9006(a). “(6) The term ‘major party’ means, with respect to any presidential election, a political party whose candidate for the office of President in the preceding presidential election received, as the candidate of such party, 25 percent or more of the total number of popular votes received by all candidates for such office. “(7) The term ‘minor party’ means, with respect to any presidential election, a political party whose candidate for the office of President in the preceding presidential election received, as the candidate of such party, 5 percent or more but less than 25 per-cent of the total number of popular votes received by all candidates for such office. “(8) The term ‘new party’ means, with respect to any presidential election, a political party which is neither a major party nor a minor party. “(9) The term ‘political committee’ means any committee, association, or organization (whether or not incorporated) which accepts contributions or makes expenditures for the purpose of influencing, or attempting to influence, the nomination or election of one or more individuals to Federal, State, or local elective public office. 85 Stat. 564 “(10) The term ‘presidential election’ means the election of presidential and vice-presidential electors. “(11) The term ‘qualified campaign expense’ means an expense— “(A) incurred (i) by the candidate of a political party for the office of President to further his election to such office or to further the election of the candidate of such political party for the office of Vice President, or both (ii) by the candidate of a political party for the office of Vice President to further his election to such office or to further the election of the candidate of such political party for the office of President, or both, or (iii) by an authorized committee of the candidates of a political party for the offices of President and Vice President to further the election of either or both of such candidates to such offices, “(B) incurred within the expenditure report period (as defined in paragraph (12)), or incurred before the beginning of such period to the extent such expense is for property, services, or facilities used during such period, and “(C) neither the incurring nor payment of which constitutes a violation of any law of the United States or of the State in which such expense is incurred or paid. An expense shall be considered as incurred by a candidate or an authorized committee if it is incurred by a person authorized by such candidate or such committee, as the case may be, to incur such expense on behalf of such candidate or such committee. If an authorized committee of the candidates of a political party for President and Vice President of the United States also incurs expenses to further the election of one or more other individuals to Federal, State, or local elective public office, expenses incurred by such committee which are not specifically to further the election of such other individual or individuals shall be considered as incurred to further the election of such candidates for President and Vice President in such proportion as the Comptroller General prescribes by rules or regulations. “(12) The term ‘expenditure report period’ with respect to any presidential election means— “(A) in the case of a major party, the period beginning with the first day of September before the election, or, if earlier, with the date on which such major party at its national convention nominated its candidate for election to the office of President of the United States, and ending 30 days after the date of the presidential election; and “(B) in the case of a party which is not a major party, the same period as the expenditure report period of the major party which has the shortest expenditure report period for such presidential election under subparagraph (A). “SEC. 9003. CONDITION FOR ELIGIBILITY FOR PAYMENTS. “(a) In General—In order to be eligible to receive any payments under section 9006, the candidates of a political party in a presidential election shall, in writing— “(1) agree to obtain and furnish to the Comptroller General such evidence as he may request of the qualified campaign expenses with respect to which payment is sought, “(2) agree to keep and furnish to the Comptroller General such records, books, and other information as he may request, “(3) agree to an audit and examination by the Comptroller General under section 9007 and to pay any amounts required to be paid under such section, and 85 Stat. 565 “(4) agree to furnish statements of qualified campaign expenses and proposed qualified campaign expenses required under section 9008. “(b) Major Parties—In order to be eligible to receive any payments under section 9006, the candidates of a major party in a presidential election shall certify to the Comptroller General, under penalty of perjury, that— “(1) such candidates and their authorized committees will not incur qualified campaign expenses in excess of the aggregate payments to which they will be entitled under section 9004, and “(2) no contributions to defray qualified campaign expenses have been or will be accepted by such candidates or any of their authorized committees except to the extent necessary to make up any deficiency in payments received out of the fund on account of the application of section 9006(c), and no contributions to defray expenses which would be qualified campaign expenses but for subparagraph (C) of section 9002(11) have been or will be accepted by such candidates or any of their authorized committees. Such certification shall be made within such time prior to the day of the presidential election as the Comptroller General shall prescribe by rules or regulations. “(c) Minor and New Parties—In order to be eligible to receive any payments under section 9006, the candidates of a minor or new party in a presidential election shall certify to the Comptroller General, under penalty of perjury, that— “(1) such candidates and their authorized committees will not incur qualified campaign expenses in excess of the aggregate payments to which the eligible candidates of a major party are entitled under section 9004, and “(2) such candidates and their authorized committees will accept and expend or retain contributions to defray qualified campaign expenses only to the extent that the qualified campaign expenses incurred by such candidates and their authorized committees certified to under paragraph (1) exceed the aggregate payments received by such candidates out of the fund pursuant to section 9006. Such certification shall be made within such time prior to the day of the presidential election as the Comptroller General shall prescribe by rules or regulations. “SEC. 9004. ENTITLEMENT OF ELIGIBLE CANDIDATES TO PAYMENTS. “(a) In General—Subject to the provisions of this chapter— “(1) The eligible candidates of a major party in a presidential election shall be entitled to payments under section 9006 equal in the aggregate to 15 cents multiplied by the total number of residents within the United States who have attained the age of 18, as determined by the Bureau of the Census, as of the first day of June of the year preceding the year of the presidential election. “(2) (A) The eligible candidates of a minor party in a presidential election shall be entitled to payments under section 9006 equal in the aggregate to an amount which bears the same ratio to the amount computed under paragraph (1) for a major party as the number of popular votes received by the candidate for President of the minor party, as such candidate, in the preceding presidential election bears to the average number of popular votes received by the candidates for President of the major parties in the preceding presidential election. “(B) If the candidate of one or more political parties (not including a major party) for the office of President was a candidate for such office in the preceding presidential election and 85 Stat. 566 received 5 percent or more but less than 25 percent of the total number of popular votes received by all candidates for such office, such candidate and his running mate for the office of Vice President, upon compliance with the provisions of section 9003 (a) and (c), shall be treated as eligible candidates entitled to payments under section 9006 in an amount computed as provided in subparagraph (A) by taking into account all the popular votes received by such candidate for the office of President in the preceding presidential election. If eligible candidates of a minor party are entitled to payments under this subparagraph, such entitlement shall be reduced by the amount of the entitlement allowed under subparagraph (A) “(3) The eligible, candidates of a minor party or a new party in a presidential election whose candidate for President in such election receives, as such candidate, 5 percent or more of the total number of popular votes cast for the office of President in such election shall be entitled to payments under section 9006 equal in the aggregate to an amount which bears the same ratio to the amount computed under paragraph (1) for a major party as the number of popular votes received by such candidate in such election bears to the average number of popular votes received in such election by the candidates for President of the major parties. In the case of eligible candidates entitled to payments under paragraph (2), the amount allowable under this paragraph shall be limited to the amount, if any, by which the entitlement under the preceding sentence exceeds the amount of the entitlement under paragraph (2). “(b) Limitations—The aggregate payments to which the eligible candidates of a political party shall be entitled under subsections (a) (2) and (3) with respect to a presidential election shall not exceed an amount equal to the lower of— “(1) the amount of qualified campaign expenses incurred by such eligible candidates and their authorized committees, reduced by the amount of contributions to defray qualified campaign expenses received and expended or retained by such eligible candidates and such committees, or “(2) the aggregate payments to which the eligible candidates of a major party are entitled under subsection (a) (1), reduced by the amount of contributions described in paragraph (1) of this subsection. “(c) Restrictions—The eligible candidates of a political party shall be entitled to payments under subsection (a) only— “(1) to defray qualified campaign expenses incurred by such eligible candidates or their authorized committees, or “(2) to repay loans the proceeds of which were used to defray such qualified campaign expenses, or otherwise to restore funds (other than contributions to defray qualified campaign expenses received and expended by such candidates or such committees) used to defray such qualified campaign expenses. “SEC. 9005. CERTIFICATION BY COMPTROLLER GENERAL. “(a) Initial Certifications—On the basis of the evidence, books, records, and information furnished by the eligible, candidates of a political party and prior to examination and audit under section 9007, the Comptroller General shall certify from time to tune to the, Secretary for payment to such candidates under section 9006 the payments to which such candidates are entitled under section 9004. “(b) Finality of Certifications and Determinations—Initial certifications by the Comptroller General under subsection (a), and all determinations made by him under this chapter, shall be final and con- 85 Stat. 567clusive, except to the extent that they are subject to examination and audit by the Comptroller General under section 9007 and judicial review under section 9011. “SEC. 9006. PAYMENTS TO ELIGIBLE CANDIDATES. “(a) Establishment of Campaign Fund—There is hereby established on the books of the Treasury of the United States a special fund to be known as the ‘Presidential Election Campaign Fund’. The Secretary shall maintain in the fund (1) a separate account for the candidates of each major party, each minor party, and each new party for which a specific designation is made under section 6096 for payment into an account in the fund and (2) a general account for which no specific designation is made. The Secretary shall, as provided by appropriation Acts, transfer to each account in the fund an amount not in excess of the sum of the amounts designated (subsequent to the previous presidential election) to such account by individuals under section 6096 for payment into such account of the fund. “(b) Transfer to the General Fund—If, after a presidential election and after all eligible candidates have been paid the amount which they are entitled to receive under this chapter, there are moneys remaining in any account in the fund, the Secretary shall transfer the moneys so remaining to the general fund of the Treasury. “(c) Payments From the Fund—Upon receipt of a certification from the Comptroller General under section 9005 for payment to the eligible candidates of a political party, the Secretary shall pay to such candidates out of the specific account in the fund for such candidates the amount certified by the Comptroller General. Payments to eligible, candidates from the account designated for them shall be limited to the amounts in such account at the time of payment. Amounts paid to any such candidates shall be under the control of such candidates. “(d) Transfers From General Account to Separate Accounts.— “(1) If, on the 60th day prior to the presidential election, the moneys in any separate account in the fund are less than the aggregate entitlement under section 9004(a)(1) or (2) of the eligible candidates to which such account relates, 80 percent of the amount in the general account shall be transferred to the separate accounts (whether or not all the candidates to which such separate accounts relate are eligible candidates) in the ratio of the entitlement under section 9004(a)(1) or (2) of the candidates to which such accounts relate. No amount shall be transferred to any separate account under the preceding sentence which, when added to the moneys in that separate account prior to any payment out of that account during the calendar year, would be in excess of the aggregate entitlement under section 9004(a) (1) or (2) of the candidates to whom such account relates. “(2) If, at the close of the expenditure report period, the moneys in any separate account in the fund are not sufficient to satisfy any unpaid entitlement of the eligible candidates to which such account relates, the balance in the general account shall be transferred to the separate accounts in the following manner: “(A) For the separate account of the candidates of a major party, compute the percentage which the average number of popular votes received by the candidates for President of the major parties is of the total number of popular votes cast for the office of President in the election. “(B) For the separate account of the candidates of a minor or new party, compute the percentage which the popular votes received for President by the candidate to which such account relates is of the total number of popular votes cast for the office of President, in the elect ion. 85 Stat. 568 “(C) In the case of each separate account, multiply the applicable percentage obtained under subparagraph (A) or (B) for such account by the amount of the money in the general account prior to any distribution made under paragraph (1), and transfer to such separate account an amount equal to the excess of the product of such multiplication over the amount of any distribution made under such paragraph to such account. “SEC. 9007. EXAMINATIONS AND AUDITS; REPAYMENTS. “(a) Examinations and Audits—After each presidential election, the Comptroller General shall conduct a thorough examination and audit of the qualified campaign expenses of the candidates of each political party for President and Vice President. “(b) Repayments— “(1) If the Comptroller General determines that any portion of the payments made to the eligible candidates of a political party under section 9006 was in excess of the aggregate payments to which candidates were entitled under section 9004, he shall so notify such candidates, and such candidates shall pay to the Secretary an amount equal to such portion. “(2) If the Comptroller General determines that the eligible candidates of a political party and their authorized committees incurred qualified campaign expenses in excess of the aggregate payments to which the eligible candidates of a major party were entitled under section 9004, he shall notify such candidates of the amount of such excess and such candidates shall pay to the Secretary an amount equal to such amount. “(3) If the Comptroller General determines that the eligible candidates of a major party or any authorized committee of such candidates accepted contributions (other than contributions to make up deficiencies in payments out of the fund on account of the application of section 9006(c)) to defray qualified campaign expenses (other than qualified campaign expenses with respect to which payment is required under paragraph (2)), he shall notify such candidates of the amount of the contributions so accepted, and such candidates shall pay to the Secretary an amount equal to such amount. “(4) If the Comptroller General determines that any amount of any payment made to the eligible candidates of a political party under section 9006 was used for any purpose other than— “(A) to defray the qualified campaign expenses with respect to which such payment was made, or “(B) to repay loans the proceeds of which were used, or otherwise to restore funds (other than contributions to defray qualified campaign expenses which were received and expended) which were used, to defray such qualified campaign expenses, he shall notify such candidates of the amount so used, and such candidates shall pay to the Secretary an amount equal to such amount. “(5) No payment shall be required from the eligible candidates of a political party under this subsection to the extent that such payment, when added to other payments required from such candidates under this subsection, exceeds the amount of payments received by such candidates under section 9006. “(c) Notification—No notification shall be made by the Comptroller General under subsection (b) with respect to a presidential election more than 3 years after the day of such election. 85 Stat. 569 “(d) Deposit of Repayments—All payments received by the Secretary under subsection (b) shall be deposited by him in the general fund of the Treasury. “SEC. 9008. INFORMATION ON PROPOSED EXPENSES. “(a) Reports by Candidates—The candidates of a political party for President and Vice President in a presidential election shall, from time to time as the Comptroller General may require, furnish to the Comptroller General a detailed statement, in such form as the Comptroller General may prescribe, of— “(1) the qualified campaign expenses incurred by them and their authorized committees prior to the date of such statement (whether or not evidence or such expenses has been furnished for purposes of section 9005), and “(2) the qualified campaign expenses which they and their authorized committees propose to incur on or after the date of such statement. The Comptroller General shall require a statement under this sub-section from such candidates of each political party at least once each week during the second, third, and fourth weeks preceding the day of the presidential election and at least twice during the week preceding such day. “(b) Publication—The Comptroller General shall, as soon as possible after he receives each statement under subsection (a), prepare and publish a summary of such statement, together with any other data or information which he deems advisable, in the Federal Register. Such summary shall not include any information which identifies any individual who made a designation under section 6096. “SEC. 9009. REPORTS TO CONGRESS; REGULATIONS. “(a) Reports—The Comptroller General shall, as soon as practicable after each presidential election, submit a full report to the Senate and House of Representatives setting forth— “(1) the qualified campaign expenses (shown in such detail as the Comptroller General determines necessary) incurred by the candidates of each political party and their authorized committees; “(2) the amounts certified by him under section 9005 for payment to the eligible candidates of each political party; and “(3) the amount of payments, if any, required from such candidates under section 9007, and the reasons for each payment required. Each report submitted pursuant to this section shall be printed as a Senate document. “(b) Regulations, Etc.—The Comptroller General is authorized to prescribe such rules and regulations, to conduct such examinations and audits (in addition to the examinations and audits required by section 9007(a)), to conduct such investigations, and to require the keeping and submission of such books, records, and information, as he deems necessary to carry out the functions and duties imposed on him by this chapter. “SEC. 9010. PARTICIPATION BY COMPTROLLER GENERAL IN JUDICIAL PROCEEDINGS. “(a) Appearance by Counsel.—The Comptroller General is authorized to appear in and defend against any action filed under section 9011, either by attorneys employed in his office or by counsel whom he may appoint without regard to the provisions of title 5, United States Code, governing appointments in the competitive service, and whose compensation he may fix without regard to the provisions of chapter 51 and subchapter III of chapter 53 of such title. 85 Stat. 570 “(b) Recovery of Certain Payments—The Comptroller General is authorized through attorneys and counsel described in subsection (a) to appear in the district courts of the United States to seek recovery of any amounts determined to be payable to the Secretary as a result of examination and audit made pursuant to section 9007. “(c) Declaratory and Injunctive Relief—The Comptroller General is authorized through attorneys and counsel described in sub-section (a) to petition the courts of the United States for declaratory or injunctive relief concerning any civil matter covered by the provisions of this subtitle or section 6096. Upon application or the Comptroller General, an action brought pursuant to this subsection shall be heard and determined by a court of three judges in accordance with the provisions of section ‘2284 of title 28, United States Code, and any appeal shall lie to the Supreme Court. It shall be the duty of the judges designated to hear the case to assign the case for hearing at the earliest practicable date, to participate in the hearing and determination thereof, and to cause the case to be in every way expedited. “(d) Appeal—The Comptroller General is authorized on behalf of the United States to appeal from, and to petition the Supreme Court for certiorari to review, judgments or decrees entered with respect to actions in which he appears pursuant to the authority provided hi this section. “SEC. 9011. JUDICIAL REVIEW. “(a) Review of Certification. Determination, or Other Action by the Comptroller General—Any certification, determination, or other action by the Comptroller General made or taken pursuant to the provisions of this chapter shall be subject to review by the United States Court of Appeals for the District of Columbia upon petition filed in such Court by any interested person. Any petition filed pursuant to this section shall be filed within thirty days after the certification. determination, or other action by the Comptroller General for which review is sought. “(b) Suits To Implement Chapter— “(1) The Comptroller General, the national committee of any political party, and individuals eligible to vote for President are authorized to institute such actions, including actions for declaratory judgment or injunctive relief, as may be appropriate to implement or contrue any provision of this chapter. “(2) The district courts of the United States shall have jurisdiction of proceedings instituted pursuant to this subsection and shall exercise the same without regard to whether a person asserting rights under provisions of this subsection shall have exhausted any administrative or other remedies that may be provided at law. Such proceedings shall be heard and determined by a court of three judges in accordance with the provisions of section 2284 of title 28. United States Code, and any appeal shall lie to the Supreme Court. It shall be the duty of the judges designated to hear the case to assign the case for hearing at the earliest practicable date, to participate in the hearing and determination thereof, and to cause the case to be in every way expedited. “SEC. 9012. CRIMINAL PENALTIES. “(a) Excess Campaign Expenses— “(1) It shall be unlawful for an eligible candidate of a political party for President and Vice President in a presidential election or any of his authorized committees knowingly and willfully to incur qualified campaign expenses in excess of the aggregate payments to which the eligible candidates of a major party are entitled under section 9004 with respect to such election. 85 Stat. 571 “(2) Any person who violates paragraph (1) shall be fined not more than $5,000, or imprisoned not more than one year or both. In the case of a violation by an authorized committee, any officer or member of such committee who knowingly and willfully consents to such violation shall be fined not more than $5,000, or imprisoned not more than one year, or both. “(b) Contributions— “(1) It shall be unlawful for an eligible candidate of a major party in a presidential election or any of his authorized commit-tees knowingly and willfully to accept any contribution to defray qualified campaign expenses, except to the extent necessary to make up any deficiency in payments received out of the fund on account of the application of section 9006(c), or to defray expenses which would be qualified campaign expenses but for subparagraph (C) of section 9002 (11). “(2) It shall be unlawful for an eligible candidate of a political party (other than a major party) in a presidential election or any of his authorized committees knowingly and willfully to accept and expend or retain contributions to defray qualified campaign expenses in an amount which exceeds the qualified campaign expenses incurred with respect to such election by such eligible candidate and his authorized committees. “(3) Any person who violates paragraph (1) or (2) shall be fined not more than $5,000, or imprisoned not more than one year, or both. In the case of a violation by an authorized committee, any officer or member of such committee who knowingly and will-fully consents to such violation shall be fined not more than $5,000, or imprisoned not more than one year, or both. “(c) Unlawful Use of Payments— “(1) It shall be unlawful for any person who receives any payment under section 9006, or to whom any portion of any payment received under such section is transferred, knowingly and willfully to use, or authorize the use of, such payment or such portion for any purpose other than— “(A) to defray the qualified campaign expenses with respect to which such payment was made, or “(B) to repay loans the proceeds of which were used, or otherwise to restore funds (other than contributions to defray qualified campaign expenses which were received and expended) which were used, to defray such qualified campaign expenses. “(2) Any person who violates paragraph (1) shall be fined not more than $10,000, or imprisoned not more than five years, or both. “(d) False Statements, Etc.— “(1) It shall be unlawful for any person knowingly and willfully— “(A) to furnish any false, fictitious, or fraudulent evidence, books, or information to the Comptroller General under this subtitle, or to include in any evidence, books, or information so furnished any misrepresentation of a material fact, or to falsify or conceal any evidence, books, or information relevant to a certification by the Comptroller General or an examination and audit by the Comptroller General under this chapter; or “(B) to fail to furnish to the Comptroller General any records, books, or information requested by him for purposes of this chapter. “(2) Any person who violates paragraph (1) shall be fined not more than $10,000, or imprisoned not more than five years, or both. 85 Stat. 572 “(e) Kickbacks and Illegal Payments— “(1) It shall be unlawful for any person knowingly and will-fully to give or accept any kickback or any illegal payment in connection with any qualified campaign expense of eligible candidates or their authorized committees. “(2) Any person who violates paragraph (1) shall be fined not more than $10,000, or imprisoned not more than five years, or both. “(3) In addition to the penalty provided by paragraph (2), any person who accepts any kickback or illegal payment in connection with any qualified campaign expense of eligible candidates or their authorized committees shall pay to the Secretary, for deposit in the general fund of the Treasury, an amount equal to 125 percent of the kickback or payment received. “(f) Unauthorized Expenditures and Contributions— “(1) Except as provided in paragraph (2), it shall be unlawful for any political committee which is not an authorized committee with respect to the eligible candidates of a political party for President and Vice President in a presidential election knowingly and willfully to incur expenditures to further the election of such candidates, which would constitute qualified campaign expenses if inclined by an authorized committee of such candidates, in an aggregate amount exceeding $1,000. “(2) This subsection shall not apply to (A) expenditures by a broadcaster regulated by the Federal Communications Commission, or by a periodical publication, in reporting the news or in taking editorial positions, or (B) expenditures by any organization described in section 501 (c) which is exempt from tax under section 501(a) in communicating to its members the views of that organization. “(3) Any political committee which violates paragraph (1) shall be. fined not more than $5,000, and any officer or member of such committee who knowingly and willfully consents to such violation and any other individual who knowingly and willfully violates paragraph (1) shall be fined not more than $5,000, or imprisoned not more than one year, or both. “(g) Unauthorized Disclosure of Information— “(1) It shall be unlawful for any individual to disclose any information obtained under the provisions of this chapter except as may be required by law. “(2) Any person who violates paragraph (1) shall be fined not more than $5,000, or imprisoned not more than one year, or both. “SEC 9013. EFFECTIVE DATE OF CHAPTER.“The provisions of this chapter shall take effect on January 1, 1973. “CHAPTER 96. PRESIDENTIAL ELECTION CAMPAIGN FUND ADVISORY BOARD “SEC. 9021. ESTABLISHMENT OF ADVISORY BOARD. “(a) Establishment of Board—There is hereby established an advisory board to be known as the Presidential Election Campaign Fund Advisory Board (hereinafter in this section referred to as the ‘Board’). It shall be the duty and function of the Board to counsel and assist the Comptroller General of the United States in the performance of the duties and functions imposed on him under the Presidential Election Campaign Fund Act. 85 Stat. 573 “(b) Composition of Board—The Board shall be composed of the following members: “(1) the majority leader and minority leader of the Senate and the Speaker and minority leader of the House of Representatives, who shall serve ex officio; “(2) two members representing each political party which is a major party (as defined in section 9002(6)), which members shall be appointed by the Comptroller General from recommendations submitted by such political party; and “(3) three members representing the general public, which members shall be selected by the members described in paragraphs (1) and (2). The terms of the first members of the Board described in paragraphs (2) and (3) shall expire on the sixtieth day after the date of the first presidential election following January 1, 1973, and the terms of subsequent members described in paragraphs (2) and (3) shall begin on the sixty-first day after the date of a presidential election and expire on the sixtieth day following the date of the subsequent presidential election. The Board shall elect a Chairman from its members. “(c) Compensation.—Members of the Board (other than members described in subsection (b) (1) shall receive compensation at the rate of $75 a day for each day they are engaged in performing duties and functions as such members, including travel time, and, while away from their homes or regular places of business, shall be allowed travel expenses, including per diem in lieu of subsistence, as authorized by law for persons in the Government service employed intermittently. “(d) Status—Service by an individual as a member of the Board shall not, for purposes of any other law of the United States be considered as service as an officer or employee of the United States.”