Assembly Speaker Sheldon Silver and Assembly Elections Committee Chair Joan Millman announced today the Assembly passage of legislation to reform New York's campaign finance laws. The measure (A.8902) would provide for optional public financing of campaigns for statewide offices, state legislative offices and constitutional convention delegates.

The legislation is aimed at restraining the influence of large donors and special interests in New York's elections system. It also provides greater disclosure of the contributors to independent political communications, such as broadcast commercials, newspaper advertisements and mass mailings aimed at candidates and ballot measures.

"Our democracy is strongest when a fully-engaged and empowered electorate is encouraged to participate," said Silver (D-Manhattan). "For too long our elections system has engendered cynicism among those who fear that what matters most is ultimately how much money a candidate can raise for his campaign, rather than the issues that matter most in our communities."

"By providing public financing options that are fair and accountable to taxpayers and voters, we can limit the amount of private fundraising involved in campaigning and increase competitiveness in legislative and statewide elections," Millman (D-Brooklyn) said.

The Assembly's campaign finance reform measure would provide public matching funds to candidates for statewide office and state legislative office who agree to limit contributions and campaign spending. To be eligible for public financing, a candidate for nomination or election would have to be on the ballot, elect to participate in the public financing system, file required statements and meet the financial threshold for eligibility, as laid out in the bill.

In order to receive public funds for a primary election, a participating candidate would have to agree to receive public funding for the general election. Contributions to those participating in the public financing system would be capped at $2,000 and contributions from individual state residents up to $250 would be matched by the state at a rate of $4 for every $1 raised.

The bill provides an income tax check-off of $5, which would be designated for a separate fund, known as the New York State Campaign Finance Fund.

Candidates for the following offices would be eligible to participate in the public financing program beginning in the following years:

• 2010 Comptroller Election
• 2014 Governor, Lieutenant Governor, Attorney General, Comptroller Elections
• 2016 Senate and Assembly Elections

In addition to offering a method of public campaign financing, the bill contains a process for recovering unspent or misspent public campaign funds and would impose civil penalties for candidates who violate filing requirements and spending limits.

The legislation would require that political communications supporting or opposing a candidate or ballot measure, including mailings, newspaper and broadcast advertisements identify the source of their funding for the communication. Under the legislation, independent expenditures on communications opposing or supporting a candidate or ballot measure in excess of $1,000 would be subject to the filing requirements currently imposed on political committees, including a 24-hour disclosure rule when these expenditures occur close to an election. Civil penalties could be applied to individuals who fail to disclose the source of independent political communications.

The Assembly legislation includes the following eligibility thresholds and spending limits:

Eligibility Threshold to Qualify for Public Financing

Governor: Must collect not less than $900,000 from at least 9,000 matchable contributions made up of sums of up to $250 per individual contributor who resides in New York State.

Lt. Governor (primary only), Attorney General and Comptroller: Must collect not less than $300,000 from at least 3,000 matchable contributions made up of sums of up to $250 per individual contributor who resides in New York State.

Senate: Must collect not less than $25,000 from at least 250 matchable contributions made up of sums of up to $250 per individual contributor who resides in New York State including at least $12,500 from at least 125 individual contributors who reside in the Senate District in which the seat is to be filled.

Assembly: Must collect not less than $10,000 from at least 100 matchable contributions made up of sums of up to $250 per individual contributor who resides in New York State including at least $5,000 from at least 50 individual contributors who reside in the Assembly District in which the seat is to be filled.

At-large Delegate to a Constitutional Convention: Must collect not less than $25,000 from at least 250 matchable contributions made up of sums of up to $250 per individual contributor who resides in New York State.

District Delegate to a Constitutional Convention: Must collect not less than $5,000 from at least 50 matchable contributions made up of sums of up to $250 per individual contributor who resides in the district in which the seat is to be filled.

Expenditure Limits:

	General Election	Primary
Governor	$12 million	$1.10 per enrolled voter or $900,000, whichever is more, but not to exceed $9 million
Lt. Governor	-------	$1.10 per enrolled voter or $600, 000, whichever is more, but not to exceed $6 million
Attorney General & Comptroller	$8 million	Same as Lt. Governor
State Senator	$350,000	$2.50 per enrolled voter or $35,000, whichever is more, but not to exceed $350,000
Member of Assembly	$150,000	$2.50 per enrolled voter or $15,000, whichever is more, but not to exceed $150,000
At-Large Delegate	$350,000	.15 per enrolled voter or $75,000, whichever is more, but not to exceed $175,000
District Delegate	$75,000	$1.10 per enrolled voter in the district or $5,000, whichever is more, but not to exceed $50,000

The legislation also includes the following stipulations:

• Candidates are required to file a statement indicating their intention to use personal funds in their campaign and an estimation of the amount of such funds.
• If non-participants spend more than the participating candidate's spending limit, the participating candidate may receive up to 4 grants each equaling 25 percent of the public money received under the match formula.
• Unopposed candidates are not eligible for public campaign funds.