Clean Money, Clean Elections Act

Clean Money, Clean Elections Act - Amends the Federal Election Campaign Act of 1971 (FECA) to: (1) prescribe eligibility and qualifying contribution requirements, seed money provisions, and benefits of clean money financing of House election campaigns; (2) set forth requirements applicable to clean money candidates; (3) direct the Federal Election Commission (FEC) to certify whether or not the candidate is a clean money candidate; (4) establish in the Treasury a House of Representatives Election Fund for clean money financing; (5) set forth requirements concerning reporting of certain expenditures of private money candidates and reporting of certain independent expenditures; (6) limit expenditures that may be made by political party committees in connection with the general election campaign of a House election in which one or more of the candidates is a clean money candidate; and (7) require a committee of a political party, before making coordinated expenditures in excess of $5,000 for a Federal election, to certify to the FEC that it has not and will not make any independent expenditures in connection with such campaign.

Amends the Communications Act of 1934 to entitle clean money candidates to receive specified free broadcast time.

Amends: (1) FECA to outline political advertising provisions for specified communications; and (2) Federal postal law to limit franked mass mailings by Members of Congress.

Amends FECA with respect to soft money to prohibit: (1) a national committee of a political party (including a national congressional campaign committee) from soliciting or receiving contributions or making expenditures not subject to FECA; (2) a national State, district, or local committee from soliciting or donating funds to a tax-exempt organization; and (3) an incumbent or candidate for Federal office (or an agent) from soliciting or receiving either funds not subject to FECA, or funds for a non-Federal election in excess of certain limits or from prohibited sources (with exceptions). Requires a State, district, or local committee of a political party to make Federal election year expenditures (with exceptions) from funds subject to FECA.

Amends FECA to: (1) establish aggregate annual contribution limits for political committees established and maintained by a State committee of a political party, and increase aggregate annual individual contribution limits; (2) prescribe reporting requirements pertaining to political committees; (3) eliminate the exception for building funds relating to the definition of "contribution"; (4) revise requirements for the composition and terms of FEC Commissioners; and (5) mandate electronic filing of FEC reports.