(a) If, (1) for the fiscal year ending June 30, 2006, or any fiscal year thereafter, the amount of funds available under section 3-69a for deposit in the Citizens' Election Fund established in section 9-701 is less than the amount of funds required under said section 3-69a to be deposited in said fund, resulting in an insufficiency in the amount of the deposit, or (2) during an election cycle the amount of funds in the Citizens' Election Fund is less than the amount of funds required to provide grants to each qualified candidate committee pursuant to the provisions of this chapter, resulting in an insufficiency in said fund, a portion of the revenues from the tax imposed under chapter 208, equal to the amount of any insufficiency described in subdivision (1) or (2) of this section, shall be deposited in said fund to allow for the payment of grants pursuant to the provisions of this chapter.
(b) Notwithstanding the provisions of section 3-69a, if funds are deposited into the Citizens' Election Fund pursuant to the provisions of subdivision (2) of subsection (a) of this section, the aggregate amount of any such deposits shall be deducted from the amount deposited into said fund under section 3-69a for the following fiscal year.
(Oct. 25 Sp. Sess. P.A. 05-5, S. 52; P.A 14-78, S. 1.)
History: Oct. 25 Sp. Sess. P.A. 05-5 effective January 1, 2006; P.A. 14-78 designated existing provisions as Subsec. (a) and amended same to designate existing language re deposit from funds available under Sec. 3-69a as Subdiv. (1) and add provision re insufficiency therein, add Subdiv. (2) re insufficiency during an election cycle and add language re deposits to allow for payment of grants, and added Subsec. (b) re deduction from deposit amount for the following fiscal year, effective June 3, 2014, and applicable to primaries and elections held on or after that date.