SECTION 1. PURPOSE

This revenue procedure provides procedures under § 9037 of the Internal Revenue Code (26 U.S.C. § 9037 (2000)) and § 702.9037 of the Financing of Presidential Election Campaigns Regulations (26 CFR § 702.9037 (2007)) for making payments from the Presidential Primary Matching Payment Account (Primary Account). Under these procedures the Treasury Secretary (Treasury) will make payments of amounts due to primary candidates at least once a week if funds are available in the Primary Account. These payments will start during the first week of January of an election year and will continue through the end of September of the year following the presidential election. This revenue procedure also provides procedures for determining amounts paid to candidates when the balance in the Primary Account is not sufficient to pay all amounts certified by the Federal Election Commission (Commission). When the Primary Account is in shortfall, the Treasury will make payments pro rata from the Primary Account based on the amounts certified by the Commission for each candidate adjusted for the length of time between the Treasury’s receipt of the certifications and the Treasury’s making payments on the certifications (see Sequencing Adjustment, as defined in section 3.05 of this revenue procedure).