STATEMENT TO

ASSEMBLY, No. 1263

with Assembly Floor Amendments

(Proposed By Assemblyman RUSSO)

ADOPTED: FEBRUARY 29, 1996

      These amendments provide that: (1) the reduction in the maximum amounts of public funding for gubernatorial candidates in primary and general elections shall take effect January 1, 1998, rather than immediately, and thus would not be applicable to the 1997 gubernatorial election, and (2) those amounts shall be adjusted for inflation for the primary and general elections in 2001 (current law provides for such adjustments for each gubernatorial election for a four-year term).