§ 9006. — Payments to eligible candidates.
[Laws in effect as of January 7, 2003]
[Document not affected by Public Laws enacted between
January 7, 2003 and December 19, 2003]
[CITE: 26USC9006]
TITLE 26--INTERNAL REVENUE CODE
Subtitle H--Financing of Presidential Election Campaigns
CHAPTER 95--PRESIDENTIAL ELECTION CAMPAIGN FUND
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.
(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, Secs. 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, Secs. 1906(b)(13)(A), (B), Oct. 4, 1976,
90 Stat. 1834.)
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.
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.
