§9034 — Title 26 Internal Revenue Code | U.S. Code

Summary

Presidential primary candidates who qualify for public matching funds are entitled to payments matching the contributions they receive, starting with the calendar year before the election year. Only the first $250 from any one person counts toward the match. A contribution means a gift of money made by a written instrument showing the giver's full name and mailing address; loans, advances, deposits, and certain other items do not count. The total a candidate can receive is capped at 50 percent of the spending limit set by the Federal Election Campaign Act of 1971.

Title 26, §9034

Internal Revenue Code — Source: USLM XML via OLRC

(a)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)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 315(b)(1)(A) of the Federal Election Campaign Act of 1971.

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 315(b)(1)(A) of the Federal Election Campaign Act of 1971, referred to in subsec. (b), is classified to section 30116(b)(1)(A) of Title 52, Voting and Elections.

Amendments

2007—Subsec. (b). Pub. L. 110–172 substituted “section 315(b)(1)(A)” for “section 320(b)(1)(A)”. 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”.

Statutory Notes and Related Subsidiaries

Effective Date

Section applicable with respect to taxable years beginning after Dec. 31, 1974, see section 410(c)(1) of Pub. L. 93–443, set out as an

Effective Date

of 1974 Amendment note under section 30101 of Title 52, Voting and Elections.

§9034 Entitlement of Eligible Candidates to Payments

Summary

Title 26, §9034

Notes & Related Subsidiaries

Editorial Notes

References in Text

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata