
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC9006]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
        Subtitle H--Financing of Presidential Election Campaigns
 
             CHAPTER 95--PRESIDENTIAL ELECTION CAMPAIGN FUND
 
Sec. 9006. Payments to eligible candidates


(a) 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.

(b) 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.

(c) 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(b)(3), and section 9037(b), moneys shall 
not be made available from any other source for the purpose of making 
such payments.

(Added Pub. L. 92-178, title VIII, Sec. 801, Dec. 10, 1971, 85 Stat. 
567; amended Pub. L. 93-53, Sec. 6(b), July 1, 1973, 87 Stat. 138; Pub. 
L. 93-443, title IV, Secs. 403(a), 404(c)(8), Oct. 15, 1974, 88 Stat. 
1291, 1292; Pub. L. 94-283, title III, Sec. 302, May 11, 1976, 90 Stat. 
498; Pub. L. 94-455, title XIX, Secs. 1906(b)(13)(A), (B), Oct. 4, 1976, 
90 Stat. 1834.)


                               Amendments

    1976--Subsecs. (a), (b). Pub. L. 94-455 substituted ``Secretary of 
the Treasury'' for ``Secretary''.
    Pub. L. 94-283, Sec. 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.
    Subsec. (c). Pub. L. 94-455, Sec. 1906(b)(13)(A), struck out ``or 
his delegate'' after ``Secretary''.
    Pub. L. 94-283, Sec. 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).
    Subsec. (d). Pub. L. 94-283, Sec. 302(a), redesignated subsec. (d) 
as (c).
    1974--Subsec. (a). Pub. L. 93-443, Sec. 403(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.
    Subsecs. (c), (d). Pub. L. 93-443, Sec. 404(c)(8), substituted 
``Commission'' for ``Comptroller General'' wherever appearing.
    1973--Subsec. (a). Pub. L. 93-53 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.
    Subsec. (b). Pub. L. 93-53 substituted ``Presidential'' for 
``presidential''.
    Subsec. (c). Pub. L. 93-53 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.
    Subsec. (d). Pub. L. 93-53 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.


                    Effective Date of 1974 Amendment

    Amendment by Pub. L. 93-443 applicable with respect to taxable years 
beginning after Dec. 31, 1974, see section 410(c)(1) of Pub. L. 93-443, 
set out as a note under section 431 of Title 2, The Congress.


               Additional Appropriations to Campaign Fund

    Section 403(b) of Pub. L. 93-443, as amended by Pub. L. 99-514, 
Sec. 2, Oct. 22, 1986, 100 Stat. 2095, provided that: ``In addition to 
the amounts appropriated to the Presidential Election Campaign Fund 
established under section 9006 of the Internal Revenue Code of 1986 
[formerly I.R.C. 1954] (relating to payments to eligible candidates) by 
the last sentence of subsection (a) of such section (as amended by 
subsection (a) of this section), there is appropriated to such fund an 
amount equal to the sum of the amounts designated for payment under 
section 6096 of such Code (relating to designation by individuals to the 
Presidential Election Campaign Fund) before January 1, 1975, not 
otherwise taken into account under the provisions of such section 9006, 
as amended by this section.''
    Provision effective Jan. 1, 1975, see section 410(a) of Pub. L. 93-
443, set out as a note under section 431 of Title 2, The Congress.


         Designation to the Presidential Election Campaign Fund

    Designation made under section 6096 of this title (as in effect for 
taxable years beginning before Jan. 1, 1973) for the account of the 
candidates of any specified political party treated solely as a 
designation to the Presidential Election Campaign Fund, see section 6(d) 
of Pub. L. 93-53, set out as a note under section 6096 of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 6096, 9002, 9003, 9004, 
9005, 9007, 9008, 9012, 9037 of this title.
