Fairness, Accountability, Integrity, and Reform (FAIR) Elections Act of 1996

TABLE OF CONTENTS: Title I: Promoting Fair Competition Between Incumbents and Challengers Title II: Reducing the Influence of Multicandidate Political Committees, Lobbyists, and Foreign Agents Title III: Discouraging Candidate Expenditure of Personal Wealth Title IV: Encouraging Participation in Political Campaigns and Strengthening Political Parties Title V: Improving the Operation of the Federal Election Commission Title VI: Activities of Labor Organizations, Corporations, and Other Entities Title VII: Effective Date Fairness, Accountability, Integrity, and Reform (FAIR) Elections Act of 1996 - Title I: Promoting Fair Competition Between Incumbents and Challengers - Amends Federal law to prohibit a franked mass mailing fewer than 180 (currently, 60) days prior to a general election. (Sec. 102) Amends the Federal Election Campaign Act of 1971 to limit the amount of total contributions a candidate for the office of Representative in, or Delegate or Resident Commissioner to, the Congress may accept from individuals other than State and local residents. Sets forth penalties for exceeding such limits. Title II: Reducing the Influence of Multicandidate Political Committees, Lobbyists, and Foreign Agents - Sets forth restrictions on the bundling of contributions. (Sec. 202) Decreases the limitation amount for contributions made to candidates for Federal office by multicandidate political committees to the amount applicable to contributions made by other individuals. (Sec. 203) Prohibits House members from soliciting or accepting any contribution in the District of Columbia at any time when the House is conducting legislative business. Title III: Discouraging Candidate Expenditure of Personal Wealth - Requires payment in full of any outstanding debt of, or loan or extension of credit to a House candidate or an authorized committee of the candidate with respect to a general, special, or runoff election no later than the 90th day after such election. Conditions that any such debt, loan, or extension of credit that is not paid or repaid by such date shall be assumed as the candidate's personal obligation. Prohibits a contribution made to the candidate or the candidate's authorized committee to be used after such date to pay or repay such debt, loan, or extension of credit. (Sec. 303) Allows a House candidate who makes an expenditure from certain personal funds or incurs a personal loan in connection with the campaign for such office to repay such expenditure or loan from campaign contributions only to the extent of the actual amount of the loan or $25,000, whichever is less. Title IV: Encouraging Participation in Political Campaigns and Strengthening Political Parties - Amends the Internal Revenue Code to allow an individual a deduction for any political contribution payment not exceeding $100 ($200 in the case of a joint return) made by the individual within the taxable year. (Sec. 402) Amends the Federal Election Campaign Act of 1971 to allow national, State, and local political party committees to each contribute $5,000 to a House candidate or the candidate's authorized political committee. Title V: Improving the Operation of the Federal Election Commission - Changes certain reporting from a calendar year basis to an election cycle basis. (Sec. 502) Authorizes the Federal Election Commission (FEC) to conduct random audits and investigations to ensure voluntary compliance with this Act. (Sec. 503) Requires, if a 90 day deadline is not met, a preliminary report on the investigation of an alleged violation. Title VI: Activities of Labor Organizations, Corporations, and Other Entities - Sets forth requirements concerning campaign contributions and expenditures by a labor organization. (Sec. 602) Requires any corporation, labor organization, or nonprofit organization to report to the FEC a payment for an election-related activity in the same manner as a contribution or expenditure is reported by a principal campaign committee of a House or Senate candidate. Title VII: Effective Date - Sets forth an effective date.