The reform was passed in the lower house but must still be approved by the Senate, La Razon reported.
Bolivia's Congress has been under pressure from opposition groups to move up the elections since widespread protests last month prompted then-President Carlos Mesa to resign.
His successor, Eduardo Rodriguez, pledged to hold elections by the end of the year when he assumed office in June.
Bolivians are now scheduled to head to the polls on Dec. 4 to select a new president and Congress.
Notable deaths of 2014 [PHOTOS]