[First Reprint]

ASSEMBLY, No. 1263

 

STATE OF NEW JERSEY

 

PRE-FILED FOR INTRODUCTION IN THE 1996 SESSION

 

 

By Assemblyman RUSSO

 

 

An Act concerning the maximum amount of public financing to be available to a candidate for the office of Governor in the primary election and general election and amending P.L.1974, c.26.

 

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

    1. Section 8 of P.L.1974, c.26 (C.19:44A-33) is amended to read as follows:

    8. a. The campaign treasurer or deputy campaign treasurer of any qualified candidate for nomination for election to the office of Governor in a primary election upon application to the commission shall promptly receive in behalf of the qualified candidate from the fund for election campaign expenses, but not prior to January 1 of the year of the election, moneys in an amount equal to twice the amount of no more than $1,500.00 of each contribution deposited in the qualified candidate's primary election bank account described in section 7 of P.L.1974, c.26 (C.19:44A-32), except that no payment shall be made from the fund to any candidate for the first $50,000.00 deposited in the qualified candidate's bank account. The maximum amount which any qualified candidate for nomination for election to the office of Governor in a primary election may receive from the fund for election campaign expenses shall not exceed[$1,350,000] $1,000,000. Applications for payments and payments under this subsection following the date on which a candidate is determined to be a qualified candidate shall be made only on the basis of no less than $12,500.00 of such contributions.

    b. The campaign treasurer or deputy campaign treasurer of any qualified candidate for election to the office of Governor in a general election upon application to the commission shall promptly receive in behalf of such qualified candidate from the fund for election campaign expenses, but not prior to the primary election, moneys in an amount equal to twice the amount of no more than $1,500.00 of each contribution deposited in such qualified candidate's bank account described in section 7 of P.L.1974, c.26 (C.19:44A-32), except that no payment shall be made from the fund to any candidate for the first $50,000.00 deposited in such qualified candidate's bank account. The maximum amount which any qualified candidate for election to the office of Governor in a general election may receive from the fund for election campaign expenses shall not exceed [$3,300,000] $2,000,000. Applications for payments and payments under this subsection following the date on which a candidate is determined to be a qualified candidate shall be made only on the basis of no less than $12,500.00 of such contributions.

(cf: P.L.1989, c.4, s.6)

 

    2. (New section) 1[The amounts established under the provisions of section 8 of P.L.1974, c.26 (C.19:44A-33) as amended by this act, P.L. , c. , shall be operative for the gubernatorial primary and general elections to be held in 1997; thereafter, those amounts shall be subject to adjustment in accordance with the provisions of section 19 of P.L.1980, c.74 (C.19:44A-7.1) as amended by section 3 of P.L.1989, c.4.] For the purposes of the adjustments to be made pursuant to section 19 of P.L.1980, c.74 (C.19:44A-7.1), as amended by section 3 of P.L.1989, c.4, for the gubernatorial primary and general elections to be held in 2001, the maximum amounts established under section 8 of P.L. 1974, c.26 (C.19:44A-33), as amended by P.L.     , c. (now pending before the Legislature as this bill), that a gubernatorial candidate may receive in a primary election and in a general election from the fund for election campaign expenses shall be the amounts to be adjusted for those elections.1

 

    3. This act shall take effect 1[immediately] January 1, 19981.

 

 

 

Establishes $1,000,000 in primary election and $2,000,000 in general election as maximum amounts of public financing available to gubernatorial candidates effective January 1, 1998 and as basis for inflation adjustments applicable in 2001 and after.