Presidential Election Reform Act of 1989

Presidential Election Reform Act of 1989 - Amends the Internal Revenue Code to repeal: (1) the Presidential Election Campaign Fund; (2) the Presidential Primary Matching Payment Account; and (3) the authority for individuals to designate sums to the Presidential Election Campaign Fund through income tax returns.

Amends the Federal Election Campaign Act of 1971 to repeal dollar limits on expenditures by presidential and vice-presidential candidates (hereinafter referred to as presidential candidates).

Limits contributions to presidential candidates or their authorized political committees to $5,000.

Prohibits multicandidate political committees from making contributions to presidential candidates or their authorized political committees.

Requires corporations and labor organizations to report to the Federal Election Commission (Commission) payments or services they furnish which are directly attributable to a registration or get-out-the-vote campaign if the aggregate of such payments and the fair market value of such services exceed $2,000 for any election. Deletes the exception to the reporting requirement for communication costs incurred by a membership organization (including a labor organization) or by a corporation primarily devoted to subjects other than the express advocacy of the election or defeat of a candidate.

Expands the definition of the term "national committee" to include the Democratic and Republican National Committees as well as their respective House and Senate campaign committees.

Requires a national committee to report: (1) all contributions, loans, transfers, and other receipts from any source to the committee; (2) the identification of each person who provides such contribution in excess of $200 within the calendar year; and (3) all disbursements made by the Committee.

Sets forth disclosure requirements for independent expenditures for elections through broadcast communications on any radio or television station, including identifying the sponsors of such broadcasts.

Provides that an expenditure is not an independent expenditure where the person making an expenditure is in coordination, consultation, or concert with a presidential candidate.

Requires such candidate, within 15 days of qualifying for a primary election ballot, to file with the Commission and each other qualifying candidate a declaration stating whether or not such candidate intends to expend funds and incur personal loans for the primary and general election in the aggregate of $250,000 or more from the following sources: (1) personal funds; (2) family funds; and (3) personal loans incurred in connection with the campaign for office. Allows the opponents of such candidate to accept larger contribution amounts from individuals.

Requires a presidential candidate who files a declaration of intent not to expend more than $250,000 and who subsequently does exceed such amount to file an amended declaration within 24 hours after exceeding such amount.

Prohibits such candidate from making expenditures from personal funds or family funds or from incurring personal loans in connection with the election campaign at any time within 60 days before such election.

Prohibits a presidential candidate who makes expenditures from personal funds or family funds to the candidate's campaign committee, or makes a loan from such funds to such committee, from using any other contributions after the election to repay such expenditure or loan.

Amends the Communications Act of 1934 to: (1) limit the cost to qualified candidates of broadcasting time for pre-election political advertising to the lowest rate charged for any time in the same period; and (2) prohibit any broadcast licensee from preempting the use of any such time purchased by a qualified candidate.

Requires that contributions made by a person, directly or indirectly, to or on behalf of a candidate through an intermediary or conduit shall be treated as contributions from the intermediary or conduit, if: (1) the contributions are in the form of a negotiable instrument made payable to the intermediary or conduit rather than the intended recipient; or (2) the intermediary or conduit is a political committee, including any agent thereof, other than a candidate's authorized committee.

Directs any person or political committee which collects contributions and makes combined contributions to a candidate or agent thereof to require the contributors to make any checks or money orders payable to a specific payee.