Relates to campaign finances and expenditures; contribution and receipt limitations and public financing of campaigns

Section 2 designates Election Law §§ 14-100 through 14-130 as a new title I, with the heading: Campaign Receipts and Expenditures.

Section 3 would amend Election Law § 14-100 by adding a definition of "authorized committee."

Section 3-a would amend Election Law § 3-104 to create a public financing unit within the state board of elections.

Section 3-b would amend Election Law § 14-108 to provide that the receipt of any campaign contribution or loan in excess of $1,000 be disclosed within 48 hours of receipt.

Section 4 would amend subdivisions 1 and 10 of Election Law § 14-114 to amend the campaign contributions limits for candidates participating in the public financing system, as well as for those not participating. For those participating in the public financing system, statewide candidates have a contribution limit of $6,000 for both the primary and general election, for an aggregate of $12,000, candidates for assembly, a contribution limit of $2,000 for both the primary and the general, for an aggregate of $4,000, and for candidates for state senate, a contribution limit of $4,000 for both the primary and general election, for an aggregate of $8,000.

For those candidates not participating in the public financing system, statewide candidates would have a contribution limit of $10,000 for the primary and $15,000 for the general election, for an aggregate of $25,000; for candidates for assembly, a contribution limit of $3,000 for both the primary and the general, for an aggregate of $6,000; and for candidates for state senate, a contribution limit of $5,000 for both the primary and general election, for an aggregate of $10,000.

In addition, this section would limit transfers from party or constituted committees to other party or constituted committee to no more than $5,000 per election, except that such committees may transfer or spend up to $500 from each contributor to support or oppose a candidate. This section would also require that authorized committees keep written documentation of their bundlers, and requires that bundlers make an affirmation and would also prohibit contributions from any contributor to a party or constituted committee greater than $25,000 per year.

Section 5 would amend Election Law § 14-116 to close the limited liability company (LLC) loophole which allows LLCs to contribute to candidates as if they were individuals, and lowers the LLC and corporate contribution limit to $1,000.

Section 6 would amend Election Law § 14-130 to clarify and strengthen the prohibition on the use of campaign contributions for "personal use" including prohibiting using contributions to pay fines or penalties imposed in connection with a criminal conviction or by JCOPE or the Legislative Ethics Commission.

Section 7 would amend the Election Law by creating a new Title II under Article 14 entitled "Public Financing." Its major components include:

* comprehensive reporting and disclosure requirements to ensure maximum transparency and accountability (new Election Law § 14-201);

* eligibility criteria, including criteria based on accrual of "matchable contributions" by candidates (new Election Law §§ 14-204);

* limits on the total amounts of public funds that may be provided in any election cycle (new Election Law § 14-205);

* provisions governing the calculation and payment of public matching funds (new Election Law § 14-206)

* allowable uses for public matching funds (new Election Law 14-207);

* provisions requiring board of election audits and providing for repayment of any excess State funds disbursed (new Election Law 14-209); and

* civil and criminal penalties for violations (new Election Law 14-210).

Section 8 would amend the State Finance Law by adding a new § 92-t creating the "New York State Campaign Finance Fund."

Section 9 would amend State Finance Law § 95 to allow for certain transfers from the abandoned property fund into the Campaign Finance Fund.

Section 10 would amend Tax Law § 658 by adding a new subsection (f) establishing a check-off for the "New York State Campaign Finance Fund" on tax returns.

Section 11 is the severability clause.

Section 12 provides the effective date.

Legislative history

New Bill

Fiscal implications

Not determined

Effective date

This act shall take effect immediately.