2023-10352. 2024 Presidential Candidate Matching Fund Submission Dates and Post Date of Ineligibility Dates To Submit Statements of Net Outstanding Campaign Obligations

AGENCY:

Federal Election Commission.

ACTION:

Notice of matching fund submission dates and submission dates for statements of net outstanding campaign obligations for 2024 presidential candidates.

SUMMARY:

The Federal Election Commission is publishing matching fund submission dates for publicly funded 2024 presidential primary candidates. Eligible candidates may present one submission and/or resubmission per month on the designated date. The Commission is also publishing the dates on which publicly funded 2024 presidential primary candidates must submit their statements of net outstanding campaign obligations after their dates of ineligibility. Candidates are required to submit a statement of net outstanding campaign obligations prior to each regularly scheduled date on which they receive Federal matching funds, on dates set forth in the SUPPLEMENTARY INFORMATION below.

FOR FURTHER INFORMATION CONTACT:

Zuzana Pacious, Audit Division, 1050 First Street NE, Washington, DC 20463, (202) 694–1200 or (800) 424–9530.

SUPPLEMENTARY INFORMATION:

Matching Fund Submissions

Presidential candidates eligible to receive Federal matching funds may present submissions and/or resubmissions to the Federal Election Commission once a month on designated submission dates. The Commission will review the submissions/resubmissions and forward certifications for eligible candidates to the Secretary of the Treasury. Because no payments can be made during 2023, submissions received during 2023 will be certified in late December 2023, for payment in 2024. 11 CFR 9036.2(c); see also26 U.S.C. 9032(6), 9037(b) (allowing payments only during matching payment period that begins in calendar year of election). Treasury Department regulations require that funds for the general election grants be set aside before any matching fund payments are made. Information provided by the Treasury Department shows the balance in the fund as of March 31, 2023, was $434,911,060 and the Commission estimates that funds will be available for matching payments in January 2024. During 2024 and 2025, certifications will be made on a monthly basis. The last date a candidate may make a submission is March 3, 2025.

The submission dates specified in the following list pertain to non-threshold matching fund submissions and resubmissions after the candidate establishes eligibility. The threshold submission on which that eligibility will be determined may be filed at any time and will be processed within fifteen business days, unless review of the threshold submission determines that eligibility has not been met.

Net Outstanding Campaign Obligations Submissions

Under 11 CFR 9034.5, a candidate who received Federal matching funds must submit a net outstanding campaign obligations (“NOCO”) statement to the Commission within 15 calendar days after the candidate's date of ineligibility (“DOI”), as determined under 11 CFR 9033.5. See also26 U.S.C. 9033(c) (describing periods of eligibility for payments). The candidate's net outstanding campaign obligations equal the total of all outstanding obligations for qualified campaign expenses plus estimated necessary winding down costs less cash on hand, the fair market value of capital assets, and amounts owed to the committee, or a commercially reasonable amount based on the collectability of those amounts. 11 CFR 9034.5(a). Candidates will be notified of their DOI by the Commission.

A candidate who has net outstanding campaign obligations post-DOI may continue to submit matching payment requests provided the candidate certifies that the remaining net outstanding campaign obligations equal or exceed the amount submitted for matching. 11 CFR 9034.5(f)(1). If the candidate so certifies, the Commission will process the request and certify the appropriate amount of matching funds.

Candidates must also file revised NOCO statements in connection with each matching fund request submitted after the candidate's DOI. 11 CFR 9034.5(f)(2). These statements are due just before the next regularly scheduled payment date, on a date to be determined by the Commission. They must reflect the financial status of the campaign as of the close of business three business days before the due date of the statement and must also contain a brief explanation of each change in the committee's assets and obligations from the most recent NOCO statement. Id.

The Commission will review the revised NOCO statement and adjust the committee's certification to reflect any change in the committee's financial position that occurs after submission of the matching payment request and the date of the revised NOCO statement. The following schedule includes both matching fund submission dates and submission dates for revised NOCO statements.

Schedule of Matching Fund Submission Dates and Dates To Submit Revised Statements of Net Outstanding Campaign Obligations (NOCO) for 2024 Presidential Candidates

Matching fund submission dates	Revised NOCO submission dates
January 2, 2024	December 21, 2023.
February 1, 2024	January 24, 2024.
March 1, 2024	February 22, 2024.
April 1, 2024	March 22, 2024.
May 1, 2024	April 23, 2024.
June 3, 2024	May 23, 2024.
July 1, 2024	June 21, 2024.
Aug. 1, 2024	July 24, 2024.
September 3, 2024	August 23, 2024.
October 1, 2024	September 23, 2024.
November 1, 2024	October 24, 2024.
December 2, 2024	November 21, 2024.
January 2, 2025	December 23, 2024.
February 3, 2025	January 24, 2025.
March 3, 2025	February 21, 2025.

On behalf of the Commission.

Dara S. Lindenbaum,

Chair, Federal Election Commission.