26 U.S.C. § 9038 : US Code - Section 9038: Examinations and audits; repayments

Search 26 U.S.C. § 9038 : US Code - Section 9038: Examinations and audits; repayments

(a) Examinations and audits
After each matching payment period, the Commission shall conduct
a thorough examination and audit of the qualified campaign expenses
of every candidate and his authorized committees who received
payments under section 9037.
(b) Repayments
(1) If the Commission determines that any portion of the payments
made to a candidate from the matching payment account was in excess
of the aggregate amount of payments to which such candidate was
entitled under section 9034, it shall notify the candidate, and the
candidate shall pay to the Secretary an amount equal to the amount
of excess payments.
(2) If the Commission determines that any amount of any payment
made to a candidate from the matching payment account was used for
any purpose other than -
(A) to defray the qualified campaign expenses with respect to
which such payment was made, or
(B) to repay loans the proceeds of which were used, or
otherwise to restore funds (other than contributions to defray
qualified campaign expenses which were received and expended)
which were used, to defray qualified campaign expenses,
it shall notify such candidate of the amount so used, and the
candidate shall pay to the Secretary an amount equal to such
amount.
(3) Amounts received by a candidate from the matching payment
account may be retained for the liquidation of all obligations to
pay qualified campaign expenses incurred for a period not exceeding
6 months after the end of the matching payment period. After all
obligations have been liquidated, that portion of any unexpended
balance remaining in the candidate's accounts which bears the same
ratio to the total unexpended balance as the total amount received
from the matching payment account bears to the total of all
deposits made into the candidate's accounts shall be promptly
repaid to the matching payment account.
(c) Notification
No notification shall be made by the Commission under subsection
(b) with respect to a matching payment period more than 3 years
after the end of such period.
(d) Deposit of repayments
All payments received by the Secretary under subsection (b) shall
be deposited by him in the matching payment account.