Let the Public Decide Campaign Finance Reform Act

TABLE OF CONTENTS: Title I: Voluntary Expenditure Limitations and Public Financing for House of Representatives General Elections Title II: Amendments to Internal Revenue Code of 1986 Title III: Ban on Use of Soft Money By House Candidates Title IV: Independent Expenditures Title V: Limitations on Acceptance of Large Donor PAC Contributions in House of Representatives Primary Elections Title VI: Consideration of Constitutional Amendment Let the Public Decide Campaign Finance Reform Act - Title I: Voluntary Expenditure Limitations and Public Financing for House of Representatives General Elections - Amends the Federal Election Campaign Act of 1971 (FECA) to set forth specified expenditure limitations for certified House candidates in House of Representatives general elections. Defines a "certified House candidate" as one certified by the Federal Election Commission as meeting requirements for receiving public financing under this title. Sets forth certification requirements. Establishes in the Treasury the Grassroots Good Citizenship Fund (Fund), which shall provide public funding for certified House candidates' expenditures. Authorizes certain additional amounts from State and national party committees. Title II: Amendments to Internal Revenue Code of 1986 - Amends the Internal Revenue Code to: (1) authorize taxpayers to designate specified overpayments and contributions for the Fund; and (2) increase corporate tax rates and use the amounts from such increase for the Fund. Title III: Ban on Use of Soft Money by House Candidates - Amends FECA to prohibit the use of non-regulated funds (soft money) by House candidates. Title IV: Independent Expenditures - Amends FECA to ban independent expenditures in House elections. Redefines "independent expenditure" to mean an expenditure for a communication, with exceptions, which: (1) is made during the 90-day period ending on the date of a general election for Federal office and which identifies a candidate for election for such office by name, image, or likeness; or (2) contains express advocacy and is made without the participation of, or consultation with, a candidate. (Sec. 402) Bars the use of funds not subject to FECA requirements (soft money) for expenditures made by: (1) an authorized committee of a candidate for Federal office or a political party committee; (2) a person who has made contributions to a candidate where the expenditure is in support of the candidate or in opposition to another candidate for the same office during the election cycle; (3) a person or a political committee controlled by such person who is required to register as a lobbyist or foreign agent under Federal law; (4) a person who has communicated with a candidate regarding activities that influence the candidate's election to Federal office where the expenditure is in support of the candidate or in opposition to another candidate for the same office during the election cycle; and (5) a person authorized to raise or expend funds on behalf of the candidate or the candidate's authorized committees or who serves as an agent of such committees in an executive or policymaking position and who is, or has been, engaged in such activities in the same election cycle. Title V: Limitations on Acceptance of Large Donor PAC Contributions in House of Representatives Primary Elections - Amends FECA to set forth specified House limitations for acceptance of contributions from large donor multicandidate political committees by uncertified House candidates. Title VI: Consideration of Constitutional Amendment - Provides for the consideration of a specified constitutional amendment if any provision or amendment of this Act is found unconstitutional.