NY A10539

Redefines "surplus" in the public campaign financing system to mean the difference between public matching funds received and qualified campaign expenditures, rather than the difference between total contributions plus public funds and total campaign expenditures.

Requires participating candidates to repay the public campaign finance fund with unspent public matching funds that exceed their total qualified campaign expenditures at the end of an election cycle.

Requires surplus repayments to be made no later than 27 days after all election liabilities are paid and before the Public Campaign Finance Board issues its final audit report.

Allows candidates to use public funds for post-election expenditures only for routine, nominal-cost activities related to winding up campaigns and responding to post-election audits.

Takes effect immediately upon enactment with authority granted to the Public Campaign Finance Board to adopt necessary rules and regulations.