ASSEMBLY STATE GOVERNMENT COMMITTEE

STATEMENT TO

ASSEMBLY, No. 1264

STATE OF NEW JERSEY

DATED: FEBRUARY 5, 1996

      The Assembly State Government Committee reports favorably Assembly Bill No. 1264.

      This bill would decrease the rate at which public financing would be made available to candidates for the office of Governor in the general election. Under current law, gubernatorial general election candidates who qualify for and accept such financing receive public funds at the rate of twice the amount of contributions received from private sources. Under the bill, the rate at which these public funds would be payable would be reduced to an amount equal to the amount of those private source contributions.

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

      This bill was prefiled for introduction in the 1996 session pending technical review. As reported, the bill includes the changes required by technical review, which has been performed.