A bill to amend the Internal Revenue Code of 1986 to prohibit the use of public funds for political party conventions, and to provide for the return of previously distributed funds for deficit reduction.

Amends the Internal Revenue Code to repeal provisions providing for the use of funds from the Presidential Election Campaign Fund for presidential nominating conventions. Requires that any amount which is returned by the national committee of a major or minor party to the Treasury from an account established under the Fund to make payments for conventions to be used solely for deficit reduction.