* § 14-206. Payment of matching funds. 1. Determination of eligibility. No matching funds shall be paid to an authorized committee unless the board 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 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. If the threshold for eligibility is met, the participating candidate's authorized committee shall receive payment for qualified campaign expenditures of six dollars of matching funds for each one dollar of matchable contributions, for the first one hundred seventy-five dollars of eligible private funds per contributor, obtained and reported to the board in accordance with the provisions of this title. The maximum payment of matching funds shall be limited to the amounts set forth in section 14-205 of this title for the covered election.
- 3. Timing of payment. The board shall make any payment of matching funds to participating candidates as soon as is practicable. But in all cases, the board shall verify eligibility for matching funds within four days 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 matching funds, the board shall pay the applicable matching funds owed to the candidate. However, the board shall not make any payments of public money earlier than the earliest dates for making such payments as provided by this title. If any of such payments would require payment on a weekend or federal holiday, payment shall be made on the next business day.
- 4. Electronic funds transfer. The board shall promulgate rules to facilitate electronic funds transfers directly from the fund into an authorized committee's bank account. * NB Repealed December 31, 2014