Proposing an amendment to the Constitution of the United States to provide that Congress and the States shall have certain authority to regulate and limit contributions and spending in campaigns for elections for public office, elections for public office, and ballot initiatives and referendums.

This bill proposes a constitutional amendment to explicitly allow Congress and state governments to regulate campaign contributions and spending for public office elections and ballot initiatives. The key provision grants authorities the power to distinguish between individual voters and artificial entities like corporations or unions, specifically permitting restrictions on the latter's ability to raise and spend money in these campaigns. By adding this authority to the Constitution, the bill aims to override previous legal interpretations that limited such regulations, ensuring that laws restricting corporate political spending are constitutionally valid.