SSEMBLY APPROPRIATIONS COMMITTEE

 

STATEMENT TO

 

ASSEMBLY, No. 1263

 

STATE OF NEW JERSEY

 

DATED: FEBRUARY 22, 1996

 

      The Assembly Appropriations Committee reports favorably Assembly Bill No. 1263.

      Assembly Bill No. 1263 reduces the maximum amount of public funds available to a candidate for the office of Governor under the gubernatorial campaign financing provisions of "The New Jersey Campaign Contributions and Expenditures Reporting Act" to $1,000,000 in the primary election and $2,000,000 in the general election to be held in 1997. In the 1993 gubernatorial election, the maximum amount of public funds so available was $1,600,000 per candidate in the primary election and $3,900,000 per candidate in the

general election. In subsequent gubernatorial elections, these maximum amounts will, just as at present, be subject to adjustment for inflation.

      This legislation implements a May 18, 1994 recommendation of the New Jersey Election Law Enforcement Commission.

 

FISCAL IMPACT:

      This bill would reduce expenditures from the Gubernatorial Elections Fund. The bill reduces the maximum amount of public money from the fund for each candidate for the primary and general elections; actual reductions in expenditure would depend on the qualifying matching funds deposited by qualified candidates.