88 STAT. ]
PUBLIC LAW 93-443-OCT. 15, 1974 TAX R E T U R N S BY P O L I T I C A L
1297
COMMITTEES
SEC. 40r. Section 6012(a) of the Internal Revenue Code of 1954 ^e use 6012. (relating to persons required to make returns of income) is amended by adding at the end thereof the following new sentence: "The Secretary or his delegate shall, by regulation, exempt from the requirement of making returns under this section any political committee (as defined in section 301(d) of the Federal Election Campaign Act of 1971) hav- Ante, p. 1272, ing no gross income for the taxable year.". P R E S I D E N T I A L P R I M A R Y M A T C H I N G P A Y M E N T ACCOUNT
SEC. 408. (a) The analysis of subtitles at the beginning of the Internal Revenue Code of 1954 is amended by adding at the end thereof the following: "Subtitle H. Financing of Presidential election campaigns.".
(b) The analysis of chapters at the beginning of subtitle H of such Code is amended by striking out the item relating to chapter 96 and inserting in lieu thereof the following: "Chapter 96. Presidential Primary Matching Payment Account.".
(c) Subtitle H of such Code is amended by striking out chapter 96, relating to Presidential Election Campaign F u n d Advisory Board, and inserting in lieu thereof the following new chapter:
^e use 9021.
"CHAPTER 96—PRESIDENTIAL PRIMARY MATCHING PAYMENT ACCOUNT
Presidential Primary Matching Payment Account Act.
"Sec. 9031. Short title. "Sec. 9032. Definitions. "See. 9033. Eligibility for payments. "Sec. 90rf4. Entitlement of eligible candidates to payments. "Sec. 9035. Qualified campaign expense limitation. •"Sec. 9036. Certification by Commission. "Sec. 9037. Payments to eligible candidates. "Sec. 9038. Examinations and audits; repayments. "Sec. 9039. Reports to Congress; regulations. "Sec. 9040. Participation by Commission in judicial proceedings. "Sec. 9041. Judicial review. "Sec. 9042. Criminal penalties. "SEC. 9031. SHORT TITLE.
26 USC 903i.
"This chapter may be cited as the 'Presidential Primary Matching Payment Account Act'. "SEC. 9032. DEFINITIONS. FOR PURPOSES or T H I S CHAPTER—
"(1) The term 'authorized committee' means, with respect to the candidates of a political party for President and Vice President of the United States, any political committee which is authorized in writing by such candidates to incur expenses to further the election of such candidates. Such authorization shall be addressed to the chairman of such political committee, and a copy of such authorization shall be filed by such candidates with the Commission. Any withdrawal of any authorization shall also be in writing and shall be addressed and filed in the same maimer as the authorization. "(2) The term 'candidate' means an individual who seeks nomination for election to be President of the United States. For purposes of this paragraph, an individual shall be considered to
26 USC 9032.
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