STATEMENT TO

ASSEMBLY, No. 1262

with Assembly Floor Amendments

(Proposed By Assemblyman RUSSO)

ADOPTED: FEBRUARY 29, 1996

      These amendments provide that: (1) the establishment of $3,500,000 as the maximum amount which may be spent in aid of the candidacy of a qualified candidate for Governor at a primary election shall take effect on January 1, 1998, rather than immediately, and thus would not be applicable to the 1997 gubernatorial election, and (2) that amount shall be adjusted for inflation for the primary election in 2001 (current law provides for such adjustments for each gubernatorial election for a four-year term).