By Dan Murphy
This reporter was unaware that the State of New York has created a public financing program for candidates running for Assembly and State Senate this year and for Governor, Attorney General and Comptroller in 2025.
The Public Campaign Finance Board (PCFB) was established by Part ZZZ of Chapter 58 of the Laws of 2020 (enacting Title 2 of Article 14 of the Election Law). The New York State Public Campaign Financing Program launches after the 2022 general election (the first day of the program is November 9, 2022).
As part of the New York State Board of Elections (NYSBOE), PCFB is charged with the responsibility of administering the Public Campaign Financing Program for candidates running in Statewide and State legislative elections. The Program provides a multiple match on small contributions from New York State residents to candidates who opt in, allowing candidates the opportunity to raise competitive amounts based on eligible contributions from constituents. For all races, only in-district contributions of $250 or less will be matched.
The Public Campaign Finance Board (PCFB) was created as a bipartisan unit within the State Board of Elections to implement and oversee the New York State Public Campaign Finance Program. The program is designed to foster participation in the democratic process by matching small dollar contributions with public funds.
The PCFB is responsible for developing a program for informing candidates and the public as to the purpose and effect of the Program, including the preparation and dissemination of educational materials, providing compliance counseling and guidance to candidates seeking to participate in Program. The PCFB will publish detailed information about the money raised and spent in Statewide and State legislative elections providing transparency to the use of public funds. The PCFB will also provide oversight and enforcement of program provisions to ensure public funds are utilized responsibly and pursuant to program parameters.
Eligible offices include Governor, Lt. Gov. Comptroller, Attorney General, State Senate and Assembly.
The New York State Public Campaign Finance Board authorized its first round of public matching funds payments to participating committees in May. Thirty-seven committees will receive payment electronically through the New York Statewide Financial System (SFS) for the first scheduled payment issuance date for the 2024 election cycle on May 13, 2024 before the June 25 primary.
The NYS PCFB has been funded with $100 Million in taxpayer dollars for candidates that meet the requirements.
Contributions up to $50 are matched 12 to 1. Contributions between $50-$100 are matched 9-1. Any contribution between $100-$250 is matched 8 to 1.
