Assembly Announces Comprehensive Campaign Finance Reform Package
Assembly Speaker Sheldon Silver remarks taken from April 25, 2001 news conference
#1
To participate in our public campaign financing system, eligible
candidates must agree to specific contribution and expenditure
limits. They would be required to achieve a minimum level of
contributions based upon the office they are seeking.
Candidates for the state Assembly for example would have to raise at
least $5,000 in matching eligible contributions before they would be
eligible for public campaign financing. Once those minimums are met
participating candidates would be eligible for state matching funds
of up to $500 for any one eligible contribution. Last year, we
proposed a dollar for dollar match, this year we are proposing a
match of two dollars for every dollar up to a maximum of $500.
#2
We require identification of the source of political communications,
we limit the dollar amount of contributions of multi-candidate
committees that political parties can accept. We limit the amount
of money political parties can contribute or transfer to candidates.
#3
The other big change from our proposal previously is that we
eliminate the soft money exemption. Political parties will no longer
be allowed to accept unlimited contributions into housekeeping
accounts. All party committees would be subject to the uniform
seventy-five hundred dollar contribution limit.
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