H.J.Res. 122 — Proposing an amendment to the Constitution of the United States relating to the authority of Congress and the States to regulate contributions and expenditures intended to affect elections and to enact public financing systems for political campaigns.

This section proposes a constitutional amendment that would authorize Congress and the States to regulate and impose reasonable, viewpoint-neutral limits on the raising and spending of money by candidates and others to influence elections, to establish public campaign financing systems that offset private spending with increased public funding, and to distinguish between natural persons and corporations or other artificial entities created by law, including by prohibiting such entities from spending money to influence elections. It also provides that Congress and the States may enforce the amendment through appropriate legislation and specifies that nothing in the amendment grants authority to abridge freedom of the press. The amendment would take effect if ratified by the legislatures of three-fourths of the States within 7 years after submission for ratification.