NY S06874

Amends election law definitions and provisions related to the state's public campaign financing system, including clarifying terminology around "matchable contributions," "authorized committees," and "surplus" funds.

Modifies contribution eligibility thresholds for participating candidates by requiring contributions from "unique contributors" rather than counting matchable contributions, with reduced thresholds for districts with below-average median household income.

Changes public matching fund payment ratios: statewide candidates receive 6:1 matching (6 dollars of public funds per 1 dollar of matchable contributions), while state senate and assembly candidates receive tiered matching of 12:1, 9:1, and 8:1 for different contribution brackets.

Updates procedures for the Public Campaign Finance Board (PCFB) regarding payment timing, candidate eligibility verification (within 4 days of receiving contribution reports), and establishes a fine schedule for violations of campaign finance rules.

Repeals section 11 of part ZZZ of chapter 58 of the laws of 2020 and makes technical corrections to references throughout the election law and state finance law regarding board authority and fund administration.