New York Campaign Finance Board

01/21/2021 | Press release | Distributed by Public on 01/21/2021 14:38

NYC Campaign Finance Board Approves Matching Funds Payments to Council District 24 Special Election Candidates

Candidates in the City Council District 24 special election filed their most recent disclosure reports on January 15. See the full disclosure calendar for more details. Contribution limits and public financing information for this race is available on the CFB's website.

HOW THE CAMPAIGN FINANCE PROGRAM WORKS

The CFB provides public matching funds to qualifying candidates at a matching rate of $8-to-$1 for the first $175 for City Council and Borough President candidates, or $250 for citywide candidates contributed by city residents. Contributions from New York City residents are eligible for a maximum matching funds payment of $1,400 for City Council and Borough President candidates, or $2,000 for citywide candidates. Candidates participating in the program under 'Option B' are subject to higher contribution limits but a lower matching rate and maximum public funds payment.

To qualify for public matching funds, candidates must meet the nonpartisan objective criteria set in the law, including a two-part fundraising threshold. In the City Council District 24 Special Election, candidates must raise 75 contributions from district residents and $5,000 in match-eligible funds (the first $175 from a city resident). Candidates also must comply with all program rules, including individual contribution limits and a prohibition on contributions from corporations, limited liability companies, and partnerships.