(a) (1) A gubernatorial ticket that accepts a public contribution from the Fund for an election may not spend, in that election, more than the product of 30 cents, adjusted annually beginning January 1, 1997, in accordance with the Consumer Price Index, times the population of the State as determined under subsection (c) of this section.
(2) Paragraph (1) of this subsection:
(i) applies separately to each primary and general election; and
(ii) does not apply to expenditures made on behalf of a gubernatorial ticket by a State or local central committee.
(b) The State Board shall certify the expenditure limit for each election in accordance with subsection (a)(1) of this section.
(c) The population of the State shall be determined by the State Board as of January 1 of the year of the election in accordance with the more recent of:
(1) the most recent decennial census of the United States; or
(2) any population estimate prepared for the State by the Maryland Department of Health.
(d) The members of the gubernatorial ticket and, if associated with the expenditure, the responsible officers of its campaign finance entity are jointly and severally liable civilly and criminally for an expenditure made in violation of this section.