§ 9034. — Entitlement of eligible candidates to payments.
[Laws in effect as of January 7, 2003]
[Document not affected by Public Laws enacted between
January 7, 2003 and December 19, 2003]
[CITE: 26USC9034]
TITLE 26--INTERNAL REVENUE CODE
Subtitle H--Financing of Presidential Election Campaigns
CHAPTER 96--PRESIDENTIAL PRIMARY MATCHING PAYMENT ACCOUNT
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.
(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
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.
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''.
Section Referred to in Other Sections
This section is referred to in sections 9032, 9036, 9038 of this
title.
