Before raising any contribution governed by this Division, an Applicant Candidate shall: file notice of intent with the State Board in the manner that the State Board requires; and establish a Citizen Funded Campaign Account. Contribution limits. Except as otherwise provided in Subsection (b)(2), the Citizen Funded Campaign Account of an Applicant Candidate shall not accept: Eligible Private Contributions of more than Two Hundred Fifty Dollars ($250) in the aggregate during an Election Cycle; or a loan. The Citizen Funded Campaign Account of an Applicant Candidate may accept contributions and loans up to a total of Six Thousand Dollars ($6,000) from: the Applicant Candidate; and a spouse. Consumer Price Index adjustment. The contribution limit specified in Subsection (b)(1) shall be adjusted for the next election cycle on July 1, 2026, and July 1 of each subsequent fourth year by the increase in the Consumer Price Index for the previous four (4) calendar years, rounded up to the next Ten Dollars ($10). The Director shall publish this amount not later than the January 1 after an adjustment is made. If an Applicant Candidate has a Campaign Finance Entity that was created and used in an election prior to the current Election Cycle: that has an account balance but has not received any contributions, nor made any expenditures or transfers from such Campaign Finance Entity during the current Election Cycle, the Applicant Candidate may file a notice of intent to participate in the Fair Election Fund campaign system if the Applicant Candidate certifies to the State Board that the candidate will freeze the pre-existing Campaign Finance Entity and will not accept any contributions, nor make any expenditures or transfers from such Campaign Finance Entity; or that has an account balance and has received any contributions, made any expenditures or made any transfers from such Campaign Finance Entity during the current Election Cycle, the Applicant Candidate may file a notice of intent to participate in the Fair Election Fund campaign system if the notice of intent is filed 24 months prior to the primary election; during the current Election Cycle, expenditures and transfers made from the pre-existing Campaign Finance Entity prior to filing the notice of intent did not exceed $25,000 for a candidate for County Executive, $10,000 for a candidate of At-Large Council Member, or $5,000 for a candidate of District Council Member; and the Applicant Candidate certifies to the State Board that the candidate will freeze the pre-existing Campaign Finance Entity and will not accept any additional contributions, nor make any additional expenditures or transfers from such Campaign Finance Entity. In the case of an Applicant Candidate subject to paragraph (2), any contributions received from an individual that do not exceed the contribution limit in subsection (b) during the current Election Cycle and prior to filing the notice of intent may be returned to the individual. In such case, the individual may make Eligible Private Contributions to the candidate's Citizen Funded Campaign account in accordance with subsection (b).