With two exceptions described below, FECA applies only to financial activity intended to influence the campaigns of candidates running for federal office (the Senate, House of Representatives, Presidency, or Vice Presidency). It contains two basic types of regulation: (1) campaign financing statutes, which regulate the sources and amounts of funds given or spent to influence a federal election; and (2) campaign reporting statutes, which require disclosure by federal candidates and political committees of the sources and recipients of their campaign funds. Two federal statutes address public funding for presidential campaigns: the Presidential Primary Matching Payment Account Act, 26 U.S.C. §§ 9031-9042, which provides for federal matching payments for presidential primary campaigns; and the Presidential Election Campaign Fund Act, 26 U.S.C. §§ 9001-9012, which provides for full federal funding for presidential general election campaigns. 50 2. Basic Statutory Definitions FECA defines the basic terms that apply to the Act’s substantive provisions. Because these terms are critical to a general understanding of the Act, it is important to identify them at the outset. These basic definitions are codified at 52 U.S.C. § 30101. The most important of these definitions are: • “election” – a general, special, primary, or runoff election, or a convention or caucus held to nominate a candidate. § 30101(1). • “candidate” – an individual who seeks nomination or election to federal office and has received contributions aggregating over $5,000 or has made expenditures 50 In recent elections, presidential candidates have increasingly foregone federal matching funds. 125