[Laws in effect as of January 7, 2003]
[Document not affected by Public Laws enacted between
January 7, 2003 and December 19, 2003]
[CITE: 26USC9004]
TITLE 26--INTERNAL REVENUE CODE
Subtitle H--Financing of Presidential Election Campaigns
CHAPTER 95--PRESIDENTIAL ELECTION CAMPAIGN FUND
Sec. 9004. Entitlement of eligible candidates to payments
(a) In general
Subject to the provisions of this chapter--
(1) The eligible candidates of each major party in a
presidential election shall be entitled to equal payments under
section 9006 in an amount which, in the aggregate, shall not exceed
the expenditure limitations applicable to such candidates under
section 320(b)(1)(B) of the Federal Election Campaign Act of 1971.
(2)(A) The eligible candidates of a minor party in a
presidential election shall be entitled to payments under section
9006 equal in the aggregate to an amount which bears the same ratio
to the amount allowed under paragraph (1) for a major party as the
number of popular votes received by the candidate for President of
the minor party, as such candidate, in the preceding presidential
election bears to the average number of popular votes received by
the candidates for President of the major parties in the preceding
presidential election.
(B) If the candidate of one or more political parties (not
including a major party) for the office of President was a candidate
for such office in the preceding presidential election and received
5 percent or more but less than 25 percent of the total number of
popular votes received by all candidates for such office, such
candidate and his running mate for the office of Vice President,
upon compliance with the provisions of section 9003(a) and (c),
shall be treated as eligible candidates entitled to payments under
section 9006 in an amount computed as provided in subparagraph (A)
by taking into account all the popular votes received by such
candidate for the office of President in the preceding presidential
election. If eligible candidates of a minor party are entitled to
payments under this subparagraph, such entitlement shall be reduced
by the amount of the entitlement allowed under subparagraph (A).
(3) The eligible candidates of a minor party or a new party in a
presidential election whose candidate for President in such election
receives, as such candidate, 5 percent or more of the total number
of popular votes cast for the office of President in such election
shall be entitled to payments under section 9006 equal in the
aggregate to an amount which bears the same ratio to the amount
allowed under paragraph (1) for a major party as the number of
popular votes received by such candidate in such election bears to
the average number of popular votes received in such election by the
candidates for President of the major parties. In the case of
eligible candidates entitled to payments under paragraph (2), the
amount allowable under this paragraph shall be limited to the
amount, if any, by which the entitlement under the preceding
sentence exceeds the amount of the entitlement under paragraph (2).
(b) Limitations
The aggregate payments to which the eligible candidates of a
political party shall be entitled under subsections (a)(2) and (3) with
respect to a presidential election shall not exceed an amount equal to
the lower of--
(1) the amount of qualified campaign expenses incurred by such
eligible candidates and their authorized committees, reduced by the
amount of contributions to defray quali
