Page:United States Statutes at Large Volume 90 Part 1.djvu/528

 90 STAT. 478

PUBLIC LAW 94-283—MAY 11, 1976 CHANGES I N

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26 USC 9001, 9031. 2 USC 434.

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Post, p. 494.

DEFINITIONS

SEC. 102. (a) Section 301(a)(2) of the Act (2 U.S.C. 431(a)(2)> is amended by striking out "held to" and inserting in lieu thereof "which has authority to". (b) Section 301(e)(2) of the Act (2 U.S.C. 431 (e)(2)) is amended by inserting "written" immediately before "contract" and by striking out "expressed or implied,". (c) Section 301(e)(4) of the Act (2 U.S.C. 431(e)(4)) is amended by inserting after "purpose" the following: ", except that this paragraph shall not apply in the case of legal or accounting services rendered to or on behalf of the national committee of a political party (unless the person paying for such services is a person other than the regular employer of the individual rendering such services), other than services attributable to activities which directly further the election of a designated candidate or candidates to Federal office, nor shall this paragraph apply in the case of legal or accounting services rendered to or on behalf of a candidate or political committee solely for the purpose of insuring compliance with the provisions of this Act or chapter 95 or chapter 96 of the Internal Revenue Code of 1954 (unless the person paying for such services is a person other than the regular employer of the individual rendering such services), but amounts paid or incurred for such legal or accounting services shall be reported in accordance with the requirements of section 304(b)". (d) Section 301(e)(5) of the Act (2 U.S.C. 431(e)(5)) is amended— (1) by striking out "or" at the end of clause (E), and (2) by inserting after clause (F) the following new clauses: "(G) a loan of money by a national or State bank made in accordance with the applicable banking laws and regulations and in the ordinary course of business, but such loans— "(i) shall be reported in accordance with the requirements of section 304(b); and "(ii) shall be considered a loan by each endorser or guarantor, in that proportion of the unpaid balance thereof that each endorser or guarantor bears to the total number of endorsers or guarantors: or " (H) a gift, subscription, loan, advance, or deposit of money or anything of value to a national committee of a political party or a State committee of a political party which is specifically designated for the purpose of defraying any cost incurred with respect to the construction or purchase of any office facility which is not acquired for the purpose of influencing the election of any candidate in any particular election for Federal office, except that any such gift, subscription, loan, advance, or deposit of money or anything of value, and any such cost, shall be reported in accordance with section 304(b); or " (I) any honorarium (within the meaning of section 328);". (e) Section 301(e)(5) of the Act (2 U.S.C.431(e)(5)), as amended by subsection (d), is amended by striking out "individual" where it appears after clause {Vs and inserting in lieu thereof "person". (f) Section 301(f)(4) of the Act (2 U.S.C. 431(f)(4)) is amended— (1) by inserting before the semicolon in clause (C) the following: ", except that the costs incurred by a membership organization, including a labor organization, or by a corporation, directly

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