Page:United States Statutes at Large Volume 116 Part 1.djvu/113

 PUBLIC LAW 107-155—MAR. 27, 2002 116 STAT. 87 (1) in subparagraph (B), by striking "or" at the end; (2) in subparagraph (C)— (A) by inserting "(other than a committee described in subparagraph (D))" after "committee"; and (B) by striking the period at the end and inserting "; or"; and (3) by adding at the end the following: "(D) to a political committee established and maintained by a State committee of a political party in any calendar year which, in the aggregate, exceed $10,000.". SEC. 103. REPORTING REQUIREMENTS. (a) REPORTING REQUIREMENTS. —Section 304 of the Federal Election Campaign Act of 1971 (2 U.S.C. 434) is amended by adding at the end the following: " (e) POLITICAL COMMITTEES.— " (1) NATIONAL AND CONGRESSIONAL POLITICAL COMMIT- TEES.—The national committee of a political party, any national congressional campaign committee of a political party, and any subordinate committee of either, shall report all receipts and disbursements during the reporting period. " (2) OTHER POLITICAL COMMITTEES TO WHICH SECTION 323 APPLIES.— "(A) IN GENERAL.—In addition to any other reporting requirements applicable under this Act, a political committee (not described in paragraph (1)) to which section 323(b)(1) applies shall report all receipts and disbursements made for activities described in section 301(20)(A), unless the aggregate amount of such receipts and disbursements during the calendar year is less than $5,000. "(B) SPECIFIC DISCLOSURE BY STATE AND LOCAL PARTIES OF CERTAIN NON-FEDERAL AMOUNTS PERMITTED TO BE SPENT ON FEDERAL ELECTION ACTIVITY.—Each report by a political committee under subparagraph (A) of receipts and disbursements made for activities described in section 301(20)(A) shall include a disclosure of all receipts and disbursements described in section 323(b)(2)(A) and (B). "(3) ITEMIZATION.— If a political committee has receipts or disbursements to which this subsection applies from or to any person aggregating in excess of $200 for any calendar year, the political committee shall separately itemize its reporting for such person in the same manner as required in paragraphs (3)(A), (5), and (6) of subsection (b). "(4) REPORTING PERIODS. —Reports required to be filed under this subsection shall be filed for the same time periods required for political committees under subsection (a)(4)(B).". (b) BUILDING FUND EXCEPTION TO THE DEFINITION OF CON- TRIBUTION.— (1) IN GENERAL.— Section 301(8)(B) of the Federal Election Campaign Act of 1971 (2 U.S.C. 431(8)(B)) is amended— (A) by striking clause (viii); and (B) by redesignating clauses (ix) through (xv) as clauses (viii) through (xiv), respectively. (2) NONPREEMPTION OF STATE LAW.—Section 403 of such Act (2 U.S.C. 453) is amended—

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