Page:United States Statutes at Large Volume 116 Part 1.djvu/126

 X 116 STAT. 100 PUBLIC LAW 107-155—MAR. 27, 2002 for which a candidate seeks nomination for election to, or election to. Federal office, the candidate or the candidate's authorized committee shall submit to the Commission a report indicating the source and amount of any excess contributions (as determined under paragraph (1) of section 315(i)) and the manner in which the candidate or the candidate's authorized committee used such funds. "(D) ENFORCEMENT. — For provisions providing for the enforcement of the reporting requirements under this paragraph, see section 309.". (c) DEFINITIONS. — Section 301 of the Federal Election Campaign Act of 1971 (2 U.S.C. 431), as amended by section 101(b), is further amended by adding at the end the following: "(25) ELECTION CYCLE. —For purposes of sections 315(i) and 315A and paragraph (26), the term 'election cycle' means the period beginning on the day after the date of the most recent election for the specific office or seat that a candidate is seeking and ending on the date of the next election for that office or seat. For purposes of the preceding sentence, a primary election and a general election shall be considered to be separate elections. "(26) PERSONAL FUNDS.— The term 'personal funds' means an amount that is derived from— "(A) any asset that, under applicable State law, at the time the individual became a candidate, the candidate had legal right of access to or control over, and with respect to which the candidate had— "(i) legal and rightful title; or "(ii) an equitable interest; "(B) income received during the current election cycle of the candidate, including— "(i) a salary and other earned income from bona fide employment; "(ii) dividends and proceeds from the sale of the candidate's stocks or other investments; "(iii) bequests to the candidate; "(iv) income from trusts established before the beginning of the election cycle; "(v) income from trusts established by bequest after the beginning of the election cycle of which the candidate is the beneficiary; "(vi) gifts of a personal nature that had been customarily received by the candidate prior to the beginning of the election cycle; and "(vii) proceeds from lotteries and similar legal games of chance; and "(C) a portion of assets that are jointly owned by the candidate and the candidate's spouse equal to the candidate's share of the asset under the instrument of convey- ance or ownership, but if no specific share is indicated by an instrument of conveyance or ownership, the value of V2 of the property.". SEC. 305. LIMITATION ON AVAILABILITY OF LOWEST UNIT CHARGE FOR FEDERAL CANDIDATES ATTACKING OPPOSITION. (a) IN GENERAL. —Section 315(b) of the Communications Act of 1934 (47 U.S.C. 315(b)) is amended— (1) by striking "(b) The charges" and inserting the following:

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