Internal Revenue Code:Sec. 9006. Payments to eligible candidates

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Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle H - Financing of Presidential Election Campaigns
       CHAPTER 95 - PRESIDENTIAL ELECTION CAMPAIGN FUND
     

Statute

    Sec. 9006. Payments to eligible candidates
 
    (a) Establishment of campaign fund
      There is hereby established on the books of the Treasury of the
    United States a special fund to be known as the ''Presidential
    Election Campaign Fund''. The Secretary of the Treasury shall, from
    time to time, transfer to the fund an amount not in excess of the
    sum of the amounts designated (subsequent to the previous
    Presidential election) to the fund by individuals under section
    6096. There is appropriated to the fund for each fiscal year, out
    of amounts in the general fund of the Treasury not otherwise
    appropriated, an amount equal to the amounts so designated during
    each fiscal year, which shall remain available to the fund without
    fiscal year limitation.
    (b) Payments from the fund
      Upon receipt of a certification from the Commission under section
    9005 for payment to the eligible candidates of a political party,
    the Secretary of the Treasury shall pay to such candidates out of
    the fund the amount certified by the Commission. Amounts paid to
    any such candidates shall be under the control of such candidates.
    (c) Insufficient amounts in fund
      If at the time of a certification by the Commission under section
    9005 for payment to the eligible candidates of a political party,
    the Secretary determines that the moneys in the fund are not, or
    may not be, sufficient to satisfy the full entitlements of the
    eligible candidates of all political parties, he shall withhold
    from such payment such amount as he determines to be necessary to
    assure that the eligible candidates of each political party will
    receive their pro rata share of their full entitlement.  Amounts
    withheld by reason of the preceding sentence shall be paid when the
    Secretary determines that there are sufficient moneys in the fund
    to pay such amounts, or portions thereof, to all eligible
    candidates from whom amounts have been withheld, but, if there are
    not sufficient moneys in the fund to satisfy the full entitlement
    of the eligible candidates of all political parties, the amounts so
    withheld shall be paid in such manner that the eligible candidates
    of each political party receive their pro rata share of their full
    entitlement.  In any case in which the Secretary determines that
    there are insufficient moneys in the fund to make payments under
    subsection (b), section 9008(b)(3), and section 9037(b), moneys
    shall not be made available from any other source for the purpose
    of making such payments.
 

Sources

    (Added Pub. L. 92-178, title VIII, Sec. 801, Dec. 10, 1971, 85
    Stat. 567; amended Pub. L. 93-53, Sec. 6(b), July 1, 1973, 87 Stat.
    138; Pub. L. 93-443, title IV, Sec. 403(a), 404(c)(8), Oct. 15,
    1974, 88 Stat. 1291, 1292; Pub. L. 94-283, title III, Sec. 302, May
    11, 1976, 90 Stat. 498; Pub. L. 94-455, title XIX, Sec.
    1906(b)(13)(A), (B), Oct. 4, 1976, 90 Stat. 1834.)
 

Miscellaneous

                                 AMENDMENTS
      1976 - Subsecs. (a), (b). Pub. L. 94-455 substituted ''Secretary
    of the Treasury'' for ''Secretary''.
      Pub. L. 94-283, Sec. 302(a), redesignated subsec. (c) as (b).
    Former subsec. (b), directing that moneys remaining in the fund
    after a Presidential election be transferred to the general fund of
    the Treasury, was struck out.
      Subsec. (c). Pub. L. 94-455, Sec. 1906(b)(13)(A), struck out ''or
    his delegate'' after ''Secretary''.
      Pub. L. 94-283, Sec. 302(a), (b), redesignated subsec. (d) as (c)
    and inserted provision that moneys not be made available from other
    sources for the purpose of making payments whenever the Secretary
    or his delegate determines that there are insufficient moneys in
    the fund to make payments under subsec. (b), section 9008(b)(3),
    and section 9037(b). Former subsec. (c) redesignated (b).
      Subsec. (d). Pub. L. 94-283, Sec. 302(a), redesignated subsec.
    (d) as (c).
      1974 - Subsec. (a). Pub. L. 93-443, Sec. 403(a), substituted
    ''from time to time'' for ''as provided by Appropriation Acts'' and
    appropriated moneys for the Campaign Fund for each fiscal year out
    of the general fund of the Treasury.
      Subsecs. (c), (d). Pub. L. 93-443, Sec. 404(c)(8), substituted
    ''Commission'' for ''Comptroller General'' wherever appearing.
      1973 - Subsec. (a). Pub. L. 93-53 struck out second sentence
    requiring the Secretary to maintain in the fund (1) a separate
    account for the candidates of each major party, each minor party,
    and each new party for which a specific designation is made under
    section 6096 for payment into an account in the fund and (2) a
    general account for which no specific designation is made, and in
    the last sentences, substituted ''transfer to the fund'',
    ''Presidential'', and ''to the fund by individuals under section
    6096'', for ''transfer to each account in the fund'',
    ''presidential'', and ''to such account by individuals under
    section 6096 for payment into such account of the fund'',
    respectively.
      Subsec. (b). Pub. L. 93-53 substituted ''Presidential'' for
    ''presidential''.
      Subsec. (c). Pub. L. 93-53 substituted provisions for payment
    ''out of the fund'', for such payment ''out of the specific account
    in the fund'' and struck out penultimate sentence limiting payments
    to eligible candidates from the account designated for them to the
    amounts in such account at the time of payment.
      Subsec. (d). Pub. L. 93-53 substituted provisions for payments to
    eligible candidates when there are insufficient amounts in the
    fund, for former provisions respecting transfers from general
    account to separate accounts to remedy insufficient moneys to
    satisfy any unpaid entitlement of the eligible candidates.
                      EFFECTIVE DATE OF 1974 AMENDMENT
      Amendment by Pub. L. 93-443 applicable with respect to taxable
    years beginning after Dec. 31, 1974, see section 410(c)(1) of Pub.
    L. 93-443, set out as a note under section 431 of Title 2, The
    Congress.
                 ADDITIONAL APPROPRIATIONS TO CAMPAIGN FUND
      Section 403(b) of Pub. L. 93-443, as amended by Pub. L. 99-514,
    Sec. 2, Oct. 22, 1986, 100 Stat. 2095, provided that: ''In addition
    to the amounts appropriated to the Presidential Election Campaign
    Fund established under section 9006 of the Internal Revenue Code of
    1986 (formerly I.R.C. 1954) (relating to payments to eligible
    candidates) by the last sentence of subsection (a) of such section
    (as amended by subsection (a) of this section), there is
    appropriated to such fund an amount equal to the sum of the amounts
    designated for payment under section 6096 of such Code (relating to
    designation by individuals to the Presidential Election Campaign
    Fund) before January 1, 1975, not otherwise taken into account
    under the provisions of such section 9006, as amended by this
    section.''
      Provision effective Jan. 1, 1975, see section 410(a) of Pub. L.
    93-443, set out as a note under section 431 of Title 2, The
    Congress.
           DESIGNATION TO THE PRESIDENTIAL ELECTION CAMPAIGN FUND
      Designation made under section 6096 of this title (as in effect
    for taxable years beginning before Jan. 1, 1973) for the account of
    the candidates of any specified political party treated solely as a
    designation to the Presidential Election Campaign Fund, see section
    6(d) of Pub. L. 93-53, set out as a note under section 6096 of this
    title.
 

References

                   SECTION REFERRED TO IN OTHER SECTIONS
      This section is referred to in sections 6096, 9002, 9003, 9004,
    9005, 9007, 9008, 9012, 9037 of this title.