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.
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.
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(i)(2), and section 9037(b), moneys shall not be made available from any other source for the purpose of making such payments.
Pub. L. 92–178, title VIII, § 80185 Stat. 567Pub. L. 93–53, § 6(b)87 Stat. 138Pub. L. 93–443, title IV88 Stat. 1291Pub. L. 94–283, title III, § 30290 Stat. 498Pub. L. 94–455, title XIX90 Stat. 1834Pub. L. 110–172, § 11(a)(43)121 Stat. 2488Pub. L. 113–94, § 2(b)(1)128 Stat. 1085(Added , , ; amended , , ; , §§ 403(a), 404(c)(8), , , 1292; , , ; , §§ 1906(b)(13)(A), (B), , ; , , ; , , .)
Editorial Notes
Amendments
Pub. L. 113–942014—Subsec. (c). substituted “section 9008(i)(2),” for “section 9008(b)(3),”.
Pub. L. 110–172Pub. L. 93–443, § 404(c)(8)2007—, which directed substitution of “Commission” for “Comptroller General” wherever appearing, could not be executed, because “Comptroller General” did not appear subsequent to amendment by . See 1974 Amendment note below.
Pub. L. 94–4551976—Subsecs. (a), (b). substituted “Secretary of the Treasury” for “Secretary”.
Pub. L. 94–283, § 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.
Pub. L. 94–455, § 1906(b)(13)(A)Subsec. (c). , struck out “or his delegate” after “Secretary”.
Pub. L. 94–283, § 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).
Pub. L. 94–283, § 302(a)Subsec. (d). , redesignated subsec. (d) as (c).
Pub. L. 93–443, § 403(a)1974—Subsec. (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.
Pub. L. 93–443, § 404(c)(8)Subsecs. (c), (d). , substituted “Commission” for “Comptroller General” wherever appearing.
Pub. L. 93–531973—Subsec. (a). 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.
Pub. L. 93–53Subsec. (b). substituted “Presidential” for “presidential”.
Pub. L. 93–53Subsec. (c). 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.
Pub. L. 93–53Subsec. (d). 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.
Statutory Notes and Related Subsidiaries
Effective Date of 1974 Amendment
Pub. L. 93–443section 410(c)(1) of Pub. L. 93–443section 30101 of Title 52Amendment by applicable with respect to taxable years beginning after , see , set out as a note under , Voting and Elections.
Additional Appropriations to Campaign Fund
Pub. L. 93–443, title IV, § 403(b)88 Stat. 1291Pub. L. 99–514, § 2100 Stat. 2095
section 410(a) of Pub. L. 93–443section 30101 of Title 52[Provision effective , see , set out as a note under , Voting and Elections.]
Designation to the Presidential Election Campaign Fund
section 6096 of this titlesection 6(d) of Pub. L. 93–53section 6096 of this titleDesignation made under (as in effect for taxable years beginning before ) for the account of the candidates of any specified political party treated solely as a designation to the Presidential Election Campaign Fund, see , set out as a note under .