A gubernatorial ticket is qualified to receive a public contribution for an election on the date specified by regulation adopted under this title if:
(1) the gubernatorial ticket has raised seed money;
(2) the seed money is refundable only if the gubernatorial ticket withdraws as a gubernatorial ticket; and
(3) as certified by the gubernatorial ticket’s treasurer on a campaign finance report, the seed money was:
(i) raised in accordance with this title; and
(ii) received after March 1 of the year immediately preceding the year of that election.