S. 749Senate112th Congress (2011-2013)In Committee

Fair Elections Revenue Act of 2011

Introduced April 6, 2011

Legislative Activity

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2 earlier actions
SenateCommittee Latest Action

Committee on the Judiciary Subcommittee on the Constitution, Civil Rights and Human Rights. Hearings held.

April 12, 2011

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SenateIntro Referral

Introduced in Senate

April 6, 2011

SenateIntro Referral

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2202)

April 6, 2011

SenateCommittee

Committee on the Judiciary Subcommittee on the Constitution, Civil Rights and Human Rights. Hearings held.

April 12, 2011

Floor Debate

6 members

What members said about S. 749 on the floor

6 Democrats
Richard J. Durbin
Sen. Richard J. DurbinD-IL · Apr 6, 2011

Mr. President, three years ago, a mentally disturbed gunman walked into a campus lecture hall at Northern Illinois University and shot 22 students, killing 5 of them. Northern Illinois University is…

Dianne Feinstein
Sen. Dianne FeinsteinD-CA · Apr 6, 2011

Mr. President, I rise to call for a new effort to combat an often deadly form of cancer--by re-introducing the Lung Cancer Mortality Reduction Act. I am pleased to be joined by my cosponsors, Senator…

Daniel K. Akaka
Sen. Daniel K. AkakaD-HI · Apr 6, 2011

Mr. President, today I rise to reintroduce the whistleblower Protection Enhancement Act. I am pleased that Senators Collins, Grassley, Lieberman, Levin, Carper, Leahy, Harkin, Pryor, Landrieu,…

Benjamin L. Cardin
Sen. Benjamin L. CardinD-MD · Apr 6, 2011

Mr. President, this weekend I know that Marylanders will be taking advantage of Passport Day this Saturday, April 9. During these weekend hours at our passport acceptance facilities in Maryland, my…

Jack Reed
Sen. Jack ReedD-RI · Apr 6, 2011

I am pleased to be joined by Senators Murkowski, Durbin, and Tom Udall in the introduction of the Garrett Lee Smith Memorial Act Reauthorization. This legislation continues the important work of my…

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Carl Levin
Sen. Carl LevinD-MI · Apr 6, 2011

Mr. President, today a bipartisan group of Senators has introduced legislation that would allow the Senate to continue its leadership of our country toward a clean-energy future. Senators Schumer,…

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Apr 6, 2011

Mr. President, I ask unanimous consent that the text of the bill by printed in the Record.

Bill Text

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Introduced in SenateIssued April 6, 2011

II

112th CONGRESS

1st Session

S. 749

IN THE SENATE OF THE UNITED STATES

April 6 (legislative day, April 5), 2011

Mr. Durbin (for himself, Mrs. Boxer, Mr. Cardin, Mr. Franken, Mr. Harkin, Mr. Kerry, Ms. Klobuchar, Mr. Leahy, Mr. Merkley, Ms. Mikulski, Mr. Sanders, Mrs. Shaheen, and Mr. Tester) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To establish a revenue source for fair elections financing of Senate campaigns by providing an excise tax on amounts paid pursuant to contracts with the United States Government.

1.

Short title

This Act may be cited as the Fair Elections Revenue Act of 2011.

2.

Fair Elections Fund revenue

(a)

In general

The Internal Revenue Code of 1986 is amended by inserting after chapter 36 the following new chapter:

37

Tax on payments pursuant to certain government contracts

Sec. 4501. Imposition of tax.

4501.

Imposition of tax

(a)

Tax imposed

There is hereby imposed on any payment made to a qualified person pursuant to a contract with the Government of the United States a tax equal to 0.50 percent of the amount paid.

(b)

Limitation

The aggregate amount of tax imposed under subsection (a) for any calendar year shall not exceed $500,000.

(c)

Qualified person

For purposes of this section, the term qualified person means any person which—

(1)

is not a State or local government, a foreign nation, or an organization described in section 501(c)(3) which is exempt from taxation under section 501(a), and

(2)

has contracts with the Government of the United States with a value in excess of $10,000,000.

(d)

Payment of tax

The tax imposed by this section shall be paid by the person receiving such payment.

(e)

Use of revenue generated by tax

It is the sense of the Senate that amounts equivalent to the revenue generated by the tax imposed under this chapter should be appropriated for the financing of a Fair Elections Fund and used for the public financing of Senate elections.

.

(b)

Conforming amendment

The table of chapter of the Internal Revenue Code of 1986 is amended by inserting after the item relating to chapter 36 the following:

.

(c)

Effective date

The amendments made by this section shall apply to contracts entered into after the date of the enactment of this Act.