Section 320 of the Federal Election Campaign Act of 1971, referred to in subsec. (a)(1), was renumbered section 315 of that Act by Pub. L. 96–187, title I, § 105(5), Jan. 8, 1980, 93 Stat. 1354, and is classified to section 441a (b)(1)(B) of Title 2, The Congress.

1976—Subsec. (a)(1). Pub. L. 94–283, § 307(d), substituted “section 320(b)(1)(B) of the Federal Election Campaign Act of 1971” for “section 608 (c)(1)(B) of title 18, United States Code”.

Subsecs. (d), (e). Pub. L. 94–283, § 301(a), added subsecs. (d) and (e).

1974—Subsec. (a)(1). Pub. L. 93–443, § 404(a), substituted provision which limited aggregate amount of payments to eligible candidates to an amount not exceeding the expenditure limitations applicable to such candidates under section 608 (c)(1)(B) of title 18 for prior provision which determined the amount by multiplying 15 cents by the total number of residents within the United States who attained the age of 18, determined by the Bureau of the Census, as of the first day of June of the year preceding the year of the presidential election.

Subsec. (a)(2)(A). Pub. L. 93–443, § 404(b)(1), substituted “allowed” for “computed”.

Subsec. (a)(3). Pub. L. 93–443, § 404(b)(2), substituted “allowed” for “computed” in first sentence.

Section 301(b) of Pub. L. 94–283, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that: “For purposes of applying section 9004(d) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954], as added by subsection (a), expenditures made by an individual after January 29, 1976, and before the date of the enactment of this Act [May 11, 1976] shall not be taken into account.”

Amendment by Pub. L. 93–443 applicable with respect to taxable years beginning after Dec. 31, 1974, see section 410(c)(1) of Pub. L. 93–443, set out as a note under section 431 of Title 2, The Congress.