Page:United States Statutes at Large Volume 88 Part 1.djvu/1338

 1294 26 USC 9003.

PUBLIC LAW 93-443-OCT. 15, 1974

[88 STAT.

(b) Section 9003(a) of such Code (relating to general conditions for eligibility for payments) is amended— (1) by striking out "with respect to which payment is sought" in paragraph (1) and inserting in lieu thereof "of such candidates"; (2) by inserting "and" at the end of paragraph (2); (3) by striking out ", and" at the end of paragraph (3) and inserting in lieu thereof a period; and (4) by striking out paragraph (4). FINANCING OF PRESIDENTIAL NOMINATING CONVENTIONS

26 USC 9008.

SEC. 406. (a) Chapter 95 of subtitle H of the Internal Revenue Code of 1954 (relating to the presidential election campaign fund) is amended by striking out section 9008 (relating to information on proposed expenses) and inserting in lieu thereof the following new section: "SEC. 9008. PAYMENTS FOR PRESIDENTIAL NOMINATING CONVENTIONS. " (a) ESTABLISHMENT OF ACCOUNTS.—The Secretary shall maintain

Ante, p. 1291.

26 USC 6096.

in the fund, in addition to any account which he maintains under section 9006(a), a separate account for the national committee of each major party and minor party. The Secretary shall deposit in each such account an amount equal to the amount which each such committee may receive under subsection (b). Such deposits shall be drawn from amounts designated by individuals under section 6096 and shall be made before any transfer is made to any account for any eligible candidate under section 9006(a). "(b)

ENTITLEMENT TO PAYMENTS FROM THE F U N D. — "(1) MAJOR PARTIES.—Subject to the provisions of this section,

the national committee of a major party shall be entitled to payments under paragraph (3), with respect to any presidential nominating convention, in amounts which, in the aggregate, shall not exceed $2,000,000. "(2) MINOR PARTIES.—Subject to the provisions of this section, the national committee of a minor party shall be entitled to payments under paragraph (3), with respect to any presidential nominating convention, in. amounts which, in the aggregate, shall not exceed an amount which bears the same ratio to the amount the national committee of a major party is entitled to receive under paragraph (1) 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 United States of the major parties in the preceding presidential election. "(3) PAYMENTS.—Upon receipt of certification from the Commission under subsection (g), the Secretary shall make payments from the appropriate account maintained under subsection (a) to the national committee of a major party or minor party which elects to receive its entitlement under this subsection. Such payments shall be available for use by such committee in accordance with the provisions of subsection (c). "(4) LIMITATION.—Payments to the national committee of a major party or minor party under this subsection from the account designated for such committee shall be limited to the amounts in such account at the time of payment.

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