Why is Dennis no longer eligible for federal matching funds?
Federal law on public funding of presidential candidates says that a candidate must receive at least 10% in two successive primary elections in order to maintain eligibility for federal matching funds, 26 USC 9033(c)(1)(B). Dennis got 2% in the New Hampshire primary. The next day of primaries was Mini Tuesday on February 3. Dennis's best showing on that day was 5% in New Mexico (or, if this is counted as a caucus, 2% in Arizona) (the best showing is used for multiple primaries on the same day, 26 USC 9033(c)(3)). Thus, Dennis became ineligible as of February 3. The law allows him to continue receiving matching payments for 30 additional days, a period that ends today, March 4.
A candidate can restore eligibility by getting 20% in any subsequent primary election, 26 USC 9033(c)(4). Another section of the law, 26 USC 9032(7), states that "primary election" means any type of nominating election held by a political primary including a caucus or convention.
Dennis got at least 26% in the Hawaii caucuses so he should have restored his eligibility at that time. However, the FEC's guidebook says that the 10% rule applies to primaries not to caucuses. I followed this rule in my above description by not counting the Iowa caucuses as the first "primary election". If it was counted, Dennis's 1% showing there and 2% in New Hampshire would have terminated payment of matching funds to him a week ago.
Apparently the 20% requalification rule also applies to primaries only and not to caucuses. This is the only reason I can think of that Dennis did not restore his eligibility after Hawaii. A lot of us had been counting on the good showing in Hawaii to maintain his eligibility for federal matching funds.
Dennis could still requalify for federal matching funds, and receive matching of funds collected between tomorrow and the date of requalification, if he can get at least 20% in any forthcoming primary. Unfortunately, his best results have all been in caucuses (26% in Hawaii, 17% in Minnesota, and 16% in Maine).
I haven't yet found any information to explain why the 10% rule (and presumably the 20% rule) applies to primaries only and not to caucuses. Hopefully more information will be forthcoming.
Note: Nobody in the volunteer base even knew anything about the March 4 deadline for donations qualifying for matching funds until a few days ago. I wonder if it was thought until then that Hawaii requalified him. Allah SWT knows best.
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