Bill summary

(S2401, A5506)

This bill, in addition to establishing a full public financing option, also reforms New York's current archaic campaign finance system by limiting contributions to 'non-participating' candidates from $30,700 (Statewide), $7,700 (Senate), and $3,100 (Assembly) to $1,000 (for all state offices) and by limiting 'soft money' contributions (unregulated contributions to a political party) to $1,000 as well. Also, the bill states that an individual person or entity cannot spend over $25,000 total for statewide campaigns. Here are the some of the bill's most distinctive provisions with respect to the full-public financing option:

The Clean Money/Clean Elections option is voluntary and thus, does not conflict with the 1976 U. S. Supreme Court case, Buckley v. Valeo, which essentially equated money with free speech. In exchange for 'clean' money (public funds), the participating candidate must agree not to accept political contributions from individual contributors, political-action committees (PACs), corporations, unions, or from his/her political party (or any other party). The participating candidate must also agree to not spend his/her own money on his/her campaign. These provisions accomplish the goal of getting all private wealth (hard and soft money) out of politics.

Every participating candidate must participate in at least two public debates with other qualified candidates prior to the primary elections and at least three debates with other qualified candidates prior to the general election. If candidates are going to run on the peoples' money, they ought to discuss and argue relevant issues in a public setting.

Candidates must qualify for clean money by collecting many small contributions ($5) instead of few large contributions. The exact number of qualifying contributions required for each office is listed on page 7, lines 4-24 of the bill.

Gubernatorial candidates must collect fifteen thousand qualifying contributions, including at least two hundred and fifty contributions from persons eligible to vote in a majority (16/31) of the congressional districts of the state. This provision accomplishes two goals: It forces a candidate to travel around a significant part of New York proving he/she has a base of support in more than just one district, while not inhibiting a candidate, without the resources to travel all over the state of New York, from qualifying for campaign funds.

Additional funds from the "New York State Clean Election Fund" shall be awarded to a qualified candidate when the total of campaign expenditures by non-participating candidates who oppose the qualified candidate and independent expenditures directed against the qualified candidate or in support of the qualified candidate's opponent, exceeds 110% of the spending limits of the qualified candidate. In order for the qualified candidate to remain competitive, an additional one dollar shall be awarded for each dollar in excess of the 110% expenditure limit. This matching system continues up to a total of 300% of the original expenditures limit for a qualified candidate.

The total amount of money allocated to the New York state clean election campaign fund may not exceed in any four-year election cycle one-tenth of one percent of the state budget.

Clean Money Campaign Reform is the only option of campaign finance reform that recognizes elections as a public good. While an increase in lobbying fees and harsher penalties for violating election laws will make up portion of the New York state clean election campaign fund, tax dollars will be the primary method for raising money. The idea behind this is simple: Elections, just as our defense budget, highways, and sanitary system, is a public good in that it affects everyone and should thus financed by everyone. The current campaign finance system recognizes elections as a private good as they are currently financed by less than 5% of the population. The result: private [interest] servants, not public servants. Studies done by Citizen Action of New York estimate that it will cost New Yorkers less than $3 per person to elect truly public servants.

For complete text go to:
 http://www.senate.state.ny.us/ or http://assembly.state.ny.us/