LEGISLATIVE FISCAL ESTIMATE TO

[First Reprint]

ASSEMBLY, No. 1262

STATE OF NEW JERSEY

DATED: May 10, 1996

      Assembly Bill No. 1262(1R) of 1996 increases the limit on spending imposed on a publicly financed gubernatorial candidate in a primary election to a maximum amount of $3,500,000, effective January 1, 1998. This amount would be adjusted for inflation for the primary election held in June, 2001, since current law provides for such adjustments for each gubernatorial election for a four-year term.

      In the 1993 gubernatorial primary election, that limit was $2,600,000, increased from the $2,200,000 spending limit applicable to the 1989 gubernatorial primary as a result of adjustments for inflation in campaign costs during the four-year interim period.

      During the previous legislative session, the Election Law Enforcement Commission (ELEC) provided fiscal information on Assembly Bill No. 1873 of 1994, which is an earlier version of A-1262(1R). Under A-1873, the increase in the limit on spending would take effect upon enactment of the bill and the new spending limit was to be used as the basis for determining the inflation-adjusted spending limit for gubernatorial primary elections after 1997. ELEC estimated that there would be no fiscal impact on the commission and no additional cost to the State if this bill became law.

      The Office of Legislative Services concurred with the assessment of A-1873 and believes that even with the changes in contained in the current version of the bill, there would be no fiscal impact on the commission and no additional costs to the State if A-1262(1R) became law.

      The legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.

This fiscal estimate has been prepared pursuant to P.L.1980, c.67.