The 2024 election cycle, already underway, marks a historic first for New York State. It will be the first election where candidates running for the senate and assembly can opt into the state’s new small donor public financing program. The voluntary program offers a match of public money for small contributions from constituents to eligible participating candidates.

Here is a brief explanation from one of our good-government partners, the Brennan Center:

“The legislature finds that the voluntary public funding program will enlarge the public debate and increase participation in the democratic process.” (Legislative findings and intent, N.Y. Elec. Law §14-200)

Summary

New York state’s new voluntary public financing program, which launched on November 9, 2022, allows candidates for state legislature and statewide offices who opt in to receive a multiple match on small contributions they raise from constituents, if they first prove their eligibility and abide by the program’s rules. The size of the match and maximum amount of public matching funds a candidate can receive vary by office. If they reach their public financing maximum, candidates may continue to raise unmatched private contributions. The new law reduces contribution limits for all candidates, whether or not they participate in public financing. The new Public Campaign Finance Board (PCFB) oversees the program.

Which Offices Are Eligible?

• Governor
• Lt. Governor
• AG
• Comptroller
• Senate
• Assembly

Which Contributions Can be Matched?

Only contributions of $5-$250 by people who live in New York are matchable with public funds. For legislative candidates, a matchable contribution must come from in-district. To be matched for use in a particular election, a contribution would need to be made in that same election cycle but not later than the relevant primary or general election day. Corporate, in-kind, unitemized, lobbyist, and campaign vendor contributions cannot be matched with public funds. 

How Can Candidates Begin to Participate?

The deadline to opt in is 4 months before the primary. Before they may receive any matching funds, candidates must agree to meet the program’s requirements, including obtaining a place on the ballot, and raise a certain amount in private donations from constituents. For legislative candidates, that minimum fundraising threshold is lower for lower-income districts.

Minimum Fundraising Thresholds to Qualify for Public Matching Funds

*The first $250 of a larger contribution may count toward the minimum dollar amount if the contribution would otherwise be matchable.

What Are the New Contribution Limits?

The new law reduces contribution limits for all candidates, whether or not they participate in public financing. Publicly financed candidates may accept private contributions up to the legal limit, but contributions over $250 in the aggregate will not be matched.

Previous and New Contribution Limits, by Office

What is the Size of the Public Funds Match?

Candidates who qualify receive a multiple match of public funds for the matchable small contributions they raise. The program includes a progressive, tiered match for legislative candidates that provides the highest match for the smallest portion of a contribution, so that even modest contributions are meaningful to campaigns.

Public Funds Match, by Office

How Much Public Funding Can Candidates Earn?

The program limits the total amount of public funds any one candidate can receive. If a candidate “maxes out” on matching funds, they can still keep raising unmatched private funds (with the same individual contribution limits as all candidates). 

Maximum Public Funds, by Office

The program puts other cost-control limits on the amount of matching funds a candidate can receive, including measures for candidates running unopposed, small primaries, and uncompetitive races.

Receiving and Using Public Matching Funds

When do matching funds payments begin?

For candidates who qualify and report matchable contributions, matching funds payments for the primary start as early as thirty days after designating petitions or certificates of nomination have been filed. Payments for the general start as early as the day after the primary.

How often do candidates receive matching funds?

The PCFB authorizes matching funds payments after reviewing candidates’ disclosure reports, which are filed on a schedule to be set by regulation. Participants may choose to submit their reports as often as every week, to receive payments more frequently. 

What are acceptable uses of matching funds?

Public matching funds may be used only for campaign expenses. Participating candidates may use private campaign contributions for other lawful purposes.

Program Administration and Funding

Who oversees the program?

The PCFB, composed of the four commissioners of the State Board of Elections and three new members, oversees the program. For more information about the board, you can visit pcfb.ny.gov or follow @NYSPCFB on Twitter.

How is the program funded?

The program is funded through a $40 tax check-off (up to $80 for joint returns), the abandoned property fund, contributions from individuals and organizations, and the general fund.