NYC Campaign Finance Board Approves Matching Funds Payments to Council District 24 Special Election Candidates
The NYC Campaign Finance Board (CFB) approved public matching funds payments for five candidates in the special election for City Council District 24 today. This is the first payment in the special election. The five candidates are receiving a total of $624,624 in today's payment.
|Gennaro, James F||$132,572|
This will be the first election for city office conducted with Ranked Choice Voting, which allows voters to rank five candidates in order of preference. Refer to the Frequently Asked Questions section of the CFB website for more info about Ranked Choice Voting.
CONTRIBUTION LIMITS AND DISCLOSURE DEADLINES
Candidates in the City Council District 24 special election filed their most recent disclosure reports on January 4. 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.
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.
The $8-to-$1 matching rate was adopted by voters, along with other improvements to the matching funds program, in November 2018. Candidates may choose to participate in the old program, which provides public funds at a $6-to-$1 matching rate.
The CFB's Candidate Services staff offers extensive support to campaigns, providing access to training, resources, and one-on-one guidance to help them navigate their disclosure requirements and compliance obligations.
More information about the candidates' campaign finance data is available on the CFB website in the Campaign Finance Summary portal. Individual contribution data is available in the Follow the Money database.