Twenty-second Amendment to the United States Constitution
Since coming into force in 1951, the amendment has applied to six presidents who have been elected twice: Dwight D. Eisenhower, Richard Nixon, Ronald Reagan, Bill Clinton, George W. Bush, and Barack Obama. It has also applied to two who entered office intra-term due to their predecessor's death or resignation: Lyndon B. Johnson and Gerald Ford. Johnson became president in November 1963, following the assassination of John F. Kennedy, served out the final of Kennedy's term, and was elected to a full four-year term in 1964. Four years later, he briefly ran for a second full term, but withdrew from the race during the party primaries. Had Johnson served a second full term – through January 20, 1973 – the total length of his presidency would have been ; as it happened, Johnson died two days after this date. Gerald Ford, who became president in August 1974 following the resignation of Richard Nixon, served the final of Nixon's term, and attempted to win a full four-year term in 1976, but was defeated by Jimmy Carter. Johnson was eligible to be elected to two full terms in his own right, as he had served less than two years of Kennedy's unexpired term, whereas Ford was eligible to be elected to only one full term, as he had served more than two years of Nixon's unexpired term.
Presidential election campaign fund checkoff
The Presidential nominee of each major party (one whose candidate received more than 25% of the vote in the previous election) may become eligible for a public grant of $81.78 million (if the election were held in 2007). To be eligible to receive the public funds, the candidate must limit spending to the amount of the grant and cannot accept private contributions for the campaign. After the conventions, candidates raise funds for general election legal and accounting compliance funds (GELACs), which are to exclusively to pay for legal and accounting expenses for the campaign. They can also pay for recounts, since that is considered a "winding down" expense allowed under regulations. These expenditures are not subject the above limit. However, in 2007, the FEC ruled that up to 5% of broadcast advertising can be paid for using GELACs, since that is time nominally spent on the required disclaimers under the Bipartisan Campaign Reform Act, namely I approve this message.