New York State adopted public financing for state elections in 2020. Candidates and campaigns will be able to start using the system in 2024 if they so choose. The program hit a major milestone recently with over 300 candidates signed up for matching funds in the 2024 election cycle. Main highlights of the new program include:
- Significantly decreased contribution limits for all candidates
- Candidates for statewide office will see a 74% decrease in contribution limits.
- Candidates for State Senate will see a 48% decrease in contribution limits.
- Candidates for State Assembly will see a 36% decrease in contribution limits.
- Access to an opt-in small donor public matching funds program
- Candidates for statewide office will be eligible for a $6 – $1 match on eligible donations.
- Candidates for State Legislature will be eligible for a tiered match ranging from $12-$1 to $8-$1.