§ 14-205. Payment of public matching funds. 1. Determination of
eligibility. No public matching funds shall be paid to an authorized
committee unless the PCFB determines that the participating candidate
has met the eligibility requirements of this title. Payment shall not
exceed the amounts specified in subdivision two of this section, and
shall be made only in accordance with the provisions of this title. Such
payment may be made only to the participating candidate's authorized
committee. No public matching funds shall be used except as
reimbursement or payment for qualified campaign expenditures actually
and lawfully incurred or to repay loans used to pay qualified campaign
expenditures.

2. Calculation of payment. (a) In any election for a public office to
be voted on by the voters of the entire state or for nomination to any
such office, if the threshold for eligibility is met, the participating
candidate's authorized committee shall receive payment for qualified
campaign expenditures of six dollars of public matching funds for each
one dollar of matchable contributions, obtained and reported to the PCFB
in accordance with the provisions of this title. The maximum payment of
public matching funds shall be limited to the amounts set forth in this
section for the covered election.

(b) In any election for state senate or state assembly or for
nomination to any such office, if the threshold for eligibility is met,
the participating candidate's authorized committee shall receive payment
for qualified campaign expenditures for matchable contributions of
eligible private funds per contributor, obtained, and reported to the
PCFB herein, of: twelve dollars of public matching funds for each of the
first fifty dollars of matchable contributions; nine dollars of public
matching funds for each of the next one hundred dollars of public
matchable contributions; and eight dollars for the each of the next one
hundred dollars of public matchable contributions. The maximum payment
of public matching funds shall be limited to the amounts set forth in
this section for the covered election.

3. Timing of payment. The PCFB shall make any payment of public
matching funds to participating candidates as soon as is practicable.
But in all cases, it shall verify eligibility for public matching funds
within four days, excluding weekends and holidays, of receiving a
campaign contribution report filed in compliance with section 14-104 of
this article. Within two days of determining that a candidate for a
covered office is eligible for public matching funds, it shall authorize
payment of the applicable matching funds owed to the candidate. The PCFB
shall schedule at least three payment dates in the thirty days prior to
a covered primary, general, or special election. If any of such payments
would require payment on a weekend or federal holiday, payment shall be
made on the next business day.

4. Notwithstanding any provision of this section to the contrary, the
amount of public funds payable to a participating candidate on the
ballot in any covered election shall not exceed one-quarter of the
maximum public funds payment otherwise applicable and no participating
candidate shall be eligible to receive a disbursement of public funds
prior to two weeks after the last day to file designating petitions for
a primary election unless the participating candidate is opposed by a
competitive candidate. The PCFB shall, by regulation, set forth
objective standards to determine whether a candidate is competitive and
the procedures for qualifying for the payment of public funds.

5. Electronic funds transfer. The PCFB shall, in consultation with the
office of the comptroller, promulgate rules to facilitate electronic
funds transfers directly from the campaign finance fund into an
authorized committee's bank account.

6. Irregularly scheduled elections. Notwithstanding any other
provision of this title, the PCFB shall promulgate rules to provide for
the prompt issuance of public matching funds to eligible participating
candidates for qualified campaign expenditures in the case of any other
covered election held on a day different from the day originally
scheduled, including special elections. Provided, however in all cases,
the PCFB shall: (a) within four days, excluding weekends and holidays,
of receiving a report of contributions from a candidate for a covered
office claiming eligibility for public matching funds, verify that
candidate's eligibility for public matching funds; and (b) within two
days of determining that the candidate for a covered office is eligible
for public matching funds, it shall authorize payment of the applicable
matching funds owed to the candidate.