NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A7598
SPONSOR: Magnarelli TITLE OF BILL:
An act to repeal title 2 of article 14 of the election law, relating to
public financing
PURPOSE OR GENERAL IDEA OF BILL:
Repeals the law creating Public Campaign Financing for New York State
elections.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1: Repeals Title 2, Section 14 of the Election Law.
Section 2: Establishes the effective date.
JUSTIFICATION:
In 2020, a system of public financing for campaigns was created to
provide public matching funds for Statewide and State legislative candi-
dates. This system will cost NY taxpayers $.100s of millions of dollars
over the next Several years to implement. In the 2023-24 State Budget
alone, $39.5 million was allocated for this system. These funds should
be put to other purposes, such as public education, infrastructure and
health care.
FISCAL IMPLICATIONS:
Over $100 million will be saved over the next election cycle.
EFFECTIVE DATE:
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
7598
2023-2024 Regular Sessions
IN ASSEMBLY
May 25, 2023
___________
Introduced by M. of A. MAGNARELLI, WALLACE, McMAHON, CONRAD, WOERNER,
SANTABARBARA, JONES -- read once and referred to the Committee on
Election Law
AN ACT to repeal title 2 of article 14 of the election law, relating to
public financing
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Title 2 of article 14 of the election law is REPEALED.
2 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11509-01-3
