Internal Revenue Code:Sec. 9034. Entitlement of eligible candidates to payments

From TaxAlmanac

Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle H - Financing of Presidential Election Campaigns
       CHAPTER 96 - PRESIDENTIAL PRIMARY MATCHING PAYMENT ACCOUNT
     

Statute

    Sec. 9034. Entitlement of eligible candidates to payments
 
    (a) In general
      Every candidate who is eligible to receive payments under section
    9033 is entitled to payments under section 9037 in an amount equal
    to the amount of each contribution received by such candidate on or
    after the beginning of the calendar year immediately preceding the
    calendar year of the presidential election with respect to which
    such candidate is seeking nomination, or by his authorized
    committees, disregarding any amount of contributions from any
    person to the extent that the total of the amounts contributed by
    such person on or after the beginning of such preceding calendar
    year exceeds $250. For purposes of this subsection and section
    9033(b), the term ''contribution'' means a gift of money made by a
    written instrument which identifies the person making the
    contribution by full name and mailing address, but does not include
    a subscription, loan, advance, or deposit of money, or anything of
    value or anything described in subparagraph (B), (C), or (D) of
    section 9032(4).
    (b) Limitations
      The total amount of payments to which a candidate is entitled
    under subsection (a) shall not exceed 50 percent of the expenditure
    limitation applicable under section 320(b)(1)(A) of the Federal
    Election Campaign Act of 1971.
 

Sources

    (Added Pub. L. 93-443, title IV, Sec. 408(c), Oct. 15, 1974, 88
    Stat. 1299; amended Pub. L. 94-283, title III, Sec. 307(b), May 11,
    1976, 90 Stat. 501.)
 

References in Text

                             REFERENCES IN TEXT
      Section 320 of the Federal Election Campaign Act of 1971,
    referred to in subsec. (b), was renumbered section 315 of that Act
    by Pub. L. 96-187, title I, Sec. 105(5), Jan. 8, 1980, 93 Stat.
    1354, and is classified to section 441a of Title 2, The Congress.
 

Miscellaneous

                                 AMENDMENTS
      1976 - Subsec. (b). Pub. L. 94-283 substituted ''section
    320(b)(1)(A) of the Federal Election Campaign Act of 1971'' for
    ''section 608(c)(1)(A) of title 18, United States Code''.
 

References

                   SECTION REFERRED TO IN OTHER SECTIONS
      This section is referred to in sections 9032, 9036, 9038 of this
    title.