[First Reprint]
ASSEMBLY, No. 1264
STATE OF NEW JERSEY
PRE-FILED FOR INTRODUCTION IN THE 1996 SESSION
By Assemblyman RUSSO
An Act concerning the public financing of gubernatorial general election campaigns 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. 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. 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. This act shall take effect 1[immediately] January 1, 1998 and shall be applicable to gubernatorial general elections thereafter1.
Provides that public financing of gubernatorial general election campaign shall be payable in amount equal to, rather than twice the amount of, contributions candidate receives effective January 1, 1998.