Enacts a voluntary program for public financing of statewide elections, and elections for state senator, assembly person and district attorney; provides that each candidate who collects a specified amount of five dollar contributions and agrees to limit campaign spending receives a fixed amount of public financing; requires qualified candidate must agree to fixed number of debates; bans “soft money” political advertising; increases campaign contribution reporting; recreates state board of elections.
The bill establishes a system under which candidates for governor, attorney general, comptroller, state senate, member of assembly or district attorney, who collect a set amount of small dollar contrib- utions, will receive a fixed and equal amount of public financing for their political campaigns.