(a)

Conditions

To be eligible to receive payments under section 9037, a candidate shall, in writing -

(1)

agree to obtain and furnish to the Commission any evidence it may request of qualified campaign expenses,

(2)

agree to keep and furnish to the Commission any records, books, and other information it may request, and

(3)

agree to an audit and examination by the Commission under section 9038 and to pay any amounts required to be paid under such section.

(b)

Expense limitation; declaration of intent; minimum contributions

To be eligible to receive payments under section 9037, a candidate shall certify to the Commission that -

(1)

the candidate and his authorized committees will not incur qualified campaign expenses in excess of the limitations on such expenses under section 9035,

(2)

the candidate is seeking nomination by a political party for election to the office of President of the United States,

(3)

the candidate has received matching contributions which in the aggregate, exceed $5,000 in contributions from residents of each of at least 20 States, and

(4)

the aggregate of contributions certified with respect to any person under paragraph (3) does not exceed $250.

(c)

Termination of payments

(1)

General rule

Except as provided by paragraph (2), no payment shall be made to any individual under section 9037 -

(A)

if such individual ceases to be a candidate as a result of the operation of the last sentence of section 9032(2); or

(B)

more than 30 days after the date of the second consecutive primary election in which such individual receives less than 10 percent of the number of votes cast for all candidates of the same party for the same office in such primary election, if such individual permitted or authorized the appearance of his name on the ballot, unless such individual certifies to the Commission that he will not be an active candidate in the primary involved.

(2)

Qualified campaign expenses; payments to Secretary

Any candidate who is ineligible under paragraph (1) to receive any payments under section 9037 shall be eligible to continue to receive payments under section 9037 to defray qualified campaign expenses incurred before the date upon which such candidate becomes ineligible under paragraph (1).

(3)

Calculation of voting percentage

For purposes of paragraph (1)(B), if the primary elections involved are held in more than one State on the same date, a candidate shall be treated as receiving that percentage of the votes on such date which he received in the primary election conducted on such date in which he received the greatest percentage vote.

(4)

Reestablishment of eligibility

(A)

In any case in which an individual is ineligible to receive payments under section 9037 as a result of the operation of paragraph (1)(A), the Commission may subsequently determine that such individual is a candidate upon a finding that such individual is actively seeking election to the office of President of the United States in more than one State. The Commission shall make such determination without requiring such individual to reestablish his eligibility to receive payments under subsection (a).

(B)

Notwithstanding the provisions of paragraph (1)(B), a candidate whose payments have been terminated under paragraph (1)(B) may again receive payments (including amounts he would have received but for paragraph (1)(B)) if he receives 20 percent or more of the total number of votes cast for candidates of the same party in a primary election held after the date on which the election was held which was the basis for terminating payments to him.