26 U.S.C. § 9004 : US Code - Section 9004: Entitlement of eligible candidates to payments

Search 26 U.S.C. § 9004 : US Code - Section 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 qualified campaign expenses
received and expended or retained by such eligible candidates and
such committees, or
(2) the aggregate payments to which the eligible candidates of
a major party are entitled under subsection (a)(1), reduced by
the amount of contributions described in paragraph (1) of this
subsection.
(c) Restrictions
The eligible candidates of a political party shall be entitled to
payments under subsection (a) only -
(1) to defray qualified campaign expenses incurred by such
eligible candidates or their authorized committees, or
(2) to repay loans the proceeds of which were used to defray
such qualified campaign expenses, or otherwise to restore funds
(other than contributions to defray qualified campaign expenses
received and expended by such candidates or such committees) used
to defray such qualified campaign expenses.
(d) Expenditures from personal funds
In order to be eligible to receive any payment under section
9006, the candidate of a major, minor, or new party in an election
for the office of President shall certify to the Commission, under
penalty of perjury, that such candidate will not knowingly make
expenditures from his personal funds, or the personal funds of his
immediate family, in connection with his campaign for election to
the office of President in excess of, in the aggregate, $50,000.
For purposes of this subsection, expenditures from personal funds
made by a candidate of a major, minor, or new party for the office
of Vice President shall be considered to be expenditures by the
candidate of such party for the office of President.
(e) Definition of immediate family
For purposes of subsection (d), the term "immediate family" means
a candidate's spouse, and any child, parent, grandparent, brother,
half-brother, sister, or half-sister of the candidate, and the
spouses of such persons.