Apprehension of Tainted Money Act of 1997
The source supplies the latest action, but no lifecycle stage.
Latest action (26 Jun 1997): Sponsor introductory remarks on measure. (CR H4819)
What this bill does
H.R. 1494, the Apprehension of Tainted Money Act of 1997, would change how certain campaign contributions are handled. If a political committee intends to return a contribution of $500 or more, and it was not returned within 60 days of being received, the committee would have to transfer it to the Federal Election Commission (FEC). The FEC would then attempt to return the contribution to the original donor.
This bill would affect political committees and individuals who make large campaign contributions that are later intended for return. The FEC would establish an interest-bearing escrow account for these transferred contributions. The FEC and the Attorney General could use money in this account to cover fines or penalties imposed on the donor, or for the costs of investigations related to the contribution. The bill also outlines circumstances under which the contribution could eventually be returned to the donor.
The bill was introduced in the House of Representatives in April 1997 and had a sponsor introductory remark in June 1997. If enacted, the FEC and the Attorney General would be required to issue regulations within 30 days to implement the changes.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Apprehension of Tainted Money Act of 1997 - Amends the Federal Election Campaign Act of 1971 (FECA) to require a political committee intending to return any contribution given to the committee in an amount of $500 or more to the person making the contribution (other than a contribution returned within 60 days of receipt by the committee), to transfer the contribution to the Federal Election Commission (Commission), with a request that the Commission return the contribution to the person making the contribution. Directs the Commission to consider the return of any contribution, and any circumstances surrounding such return, in determining whether it has reason to believe that a person has committed a violation of FECA, Federal criminal law, or the Internal Revenue Code. Establishes a single interest-bearing escrow account for contributions transferred. Requires the Commission, upon receiving amounts from a political committee to: (1) deposit the amounts in the account established; and (2) notify the Attorney General of the receipt of the amounts from the political committee. Permits the Commission or the Attorney General to require any contribution deposited in the escrow account to be used as follows: (1) to be applied toward the payment of any fine or penalty imposed against the person making the contribution involved; and (2) if such fine or penalty is imposed, to be applied toward the costs incurred by the Commission or the Attorney General in conducting any investigation of the contribution involved. Provides for the return of a contribution after deposit in the escrow account to the person making the contribution under specified circumstances. (Sec. 3) Directs the Commission and the Attorney General to issue final regulations to carry out the amendments of this Act no later than 30 days after enactment.
Timeline
26 Jun 1997
Sponsor introductory remarks on measure. (CR H4819)
Common questions
- What does H.R. 1494 do?
- H.R. 1494, the Apprehension of Tainted Money Act of 1997, would change how certain campaign contributions are handled. If a political committee intends to return a contribution of $500 or more, and it was not returned within 60 days of being received, the committee would have to transfer it to the Federal Election Commission (FEC). The FEC would then attempt to return the contribution to the original donor. This bill would affect political committees and individuals who make large campaign contributions that are later intended for return. The FEC would establish an interest-bearing escrow account for these transferred contributions. The FEC and the Attorney General could use money in this account to cover fines or penalties imposed on the donor, or for the costs of investigations related to the contribution. The bill also outlines circumstances under which the contribution could eventually be returned to the donor. The bill was introduced in the House of Representatives in April 1997 and had a sponsor introductory remark in June 1997. If enacted, the FEC and the Attorney General would be required to issue regulations within 30 days to implement the changes.
- Has H.R. 1494 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 1494. Check the latest action and official source below.
- Who sponsored H.R. 1494?
- H.R. 1494 was sponsored by Rep. Gekas, George W. [R-PA-17] (R-PA), with 1 cosponsor.
- What's the latest action on H.R. 1494?
- Sponsor introductory remarks on measure. (CR H4819) (26 Jun 1997).
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