Sec. 5213. Matching payments and other modifications to payment amounts
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Subsection
(a)of section 9004 of the Internal Revenue Code of 1986 is amended to read as follows: Subject to the provisions of this chapter, the eligible candidates of a party in a Presidential election shall be entitled to equal payment under section 9006 in an amount equal to 600 percent of the amount of each matchable contribution received by such candidate or by the candidate’s authorized committees (disregarding any amount of contributions from any person to the extent that the total of the amounts contributed by such person for the election exceeds $200), except that total amount to which a candidate is entitled under this paragraph shall not exceed $250,000,000. . Subsection
(b)of section 9004 of such Code is amended to read as follows: In the case of any applicable period beginning after 2029, the $250,000,000 dollar amount in subsection
(a)shall be increased by an amount equal to— such dollar amount; multiplied by the cost-of-living adjustment determined under section 1(f)(3) for the calendar year following the year which such applicable period begins, determined by substituting calendar year 2028 for calendar year 1992 in subparagraph
(B)thereof. For purposes of this subsection, the term applicable period means the 4-year period beginning with the first day following the date of the general election for the office of President and ending on the date of the next such general election. If any amount as adjusted under paragraph
(1)is not a multiple of $10,000, such amount shall be rounded to the nearest multiple of $10,000. . Section 9005(a) of such Code is amended by adding at the end the following new sentence: The Commission shall make such additional certifications as may be necessary to receive payments under section 9004. . Section 9002 of such Code, as amended by section 5212(b), is amended by adding at the end the following new paragraph: The term matchable contribution means, with respect to the election to the office of President of the United States, a contribution by an individual to a candidate or an authorized committee of a candidate with respect to which the candidate has certified in writing that— the individual making such contribution has not made aggregate contributions (including such matchable contribution) to such candidate and the authorized committees of such candidate in excess of $1,000 for the election; such candidate and the authorized committees of such candidate will not accept contributions from such individual (including such matchable contribution) aggregating more than the amount described in subparagraph
(A)with respect to such election; and such contribution was a direct contribution (as defined in section 9034(c)(3)). .