New Jersey-2016-A5115-Introduced

An Act concerning limits on the total amount of money raised and spent for State and local elections, supplementing Title 19 of the Revised Statutes, and amending P.L.1980, c.74 and P.L.1993, c.65.

Be It Enacted by the Senate and General Assembly of the State of New Jersey:

1. (New section) The Legislature finds and declares that:

a. The need for candidates to raise and spend enormous sums of money has bred cynicism and distrust among the public and has created an electoral system dominated by special interests.

b. The State has a compelling interest in preventing the extraordinary power of private wealth from affecting the outcome of elections.

c. The State's compelling interest in preventing excessive fund-raising from interfering with the ability of officeholders to perform their official duties justifies reasonable limitations on the total amount of money candidates and others may raise and spend for State and local elections.

d. There is an urgent need for the State to impose reasonable limitations on the total amount of money candidates and others may raise and spend for State and local elections to prevent the erosion of the public's confidence in the democratic process.

e. The Legislature narrowly tailored the provisions of P.L. , c. (C. ) (pending before the Legislature as this bill) to address the State's compelling interest in maintaining trust in the democratic process.

f. The limitations set forth in P.L. , c. (C. ) (pending before the Legislature as this bill) are the least restrictive means available for ensuring that the infusion of large sums of money in campaigns for State and local public office does not erode the public's trust in democracy.

2. (New section) a. The total amount that a candidate, or the candidate's immediate family, may raise or spend in connection with the candidate's campaign for nomination for, or election to, a State or local public office shall not exceed:

(1) $6.4 million in the case of a candidate for Governor in a primary election and $13.8 million in the case of candidates for Governor and Lieutenant Governor in a general election;

(2) one-fortieth of the total amount that a candidate for Governor in a primary election, and candidates for Governor and Lieutenant Governor in a general election, may raise or spend pursuant to this subsection in the case of a candidate for the office of member of the Legislature;

(3) one-twentieth of the total amount that a candidate for Governor in a primary election, and candidates for Governor and Lieutenant Governor in a general election, may raise or spend pursuant to this subsection in the case of a candidate for a county elective office; and

(4) one-fortieth of the total amount that a candidate for Governor in a primary election, and candidates for Governor and Lieutenant Governor in a general election, may raise or spend pursuant to this subsection in the case of a candidate for a municipal elective office.

b. For the purpose of ensuring the continuing adequacy of the limits on the total amount that a candidate, or the candidate's immediate family, may raise or spend, the Election Law Enforcement Commission shall adjust the limits on those amounts by using the methodology set forth in subsection b. of section 19 of P.L.1980, c.74 (C.19:44A-7.1).

3. (New section) a. The total amount that a State political party committee may raise or spend to aid or promote the election of a candidate to a State or local public office shall not exceed the total amount that candidates for Governor and Lieutenant Governor may raise or spend in a general election pursuant to section 2 of P.L. c. (C. ) (pending before the Legislature as this bill).

b. The total amount that a county political party committee may raise or spend to aid or promote the election of a candidate to a State or local public office shall not exceed the total amount that candidates for county elective office may raise or spend in a general election pursuant to section 2 of P.L. c. (C. ) (pending before the Legislature as this bill).

c. The total amount that a municipal political party committee may raise or spend to aid or promote the election of a candidate to a State or local public office shall not exceed one-fourth of the total amount that an individual candidate may raise or spend for such office pursuant to section 2 of P.L. c. (C. ) (pending before the Legislature as this bill).

4. Section 19 of P.L.1980, c.74 (C.19:44A-7.1) is amended to read as follows:

19. a. For the purpose of ensuring the continuing adequacy of the limits set by law upon contributions, expenditures and certain other amounts relating to campaigns for nomination to the office of Governor and election to the offices of Governor and Lieutenant Governor, the Election Law Enforcement Commission is authorized and directed to adjust the limits on those amounts as provided herein. The limitation amounts thus adjusted shall apply to the primary election for the office of Governor and the general election for the offices of Governor and Lieutenant Governor to be held in the year following the year in which that adjustment is required hereunder to be made.

b. The commission shall establish an index reflecting the changes occurring in the general level of prices of particular goods and services, including but not limited to goods and services within such categories of expenditure as mass media and other forms of public communication, personnel, rent, office supplies and equipment, data processing, utilities, travel and entertainment, and legal and accounting services, directly affecting the overall costs of election campaigning in this State. The index shall be weighted in accordance with the impact in the preceding general election for the offices of Governor and Lieutenant Governor of the respective prices of each of those several goods and services upon those overall costs. Not later than December 1 of each year preceding any year in which a general election is to be held to fill the offices of Governor and Lieutenant Governor for a four-year term, the commission shall determine the percentage of change in this index which shall have occurred during the four-year period ending with the year of the gubernatorial election, and shall adjust the amounts, as set forth in subsection c. of this section, which shall be applicable under P.L.1973, c.83 (C.19:44A-1 et seq.) to the primary election for the office of Governor and the general election for the offices of Governor and Lieutenant Governor to be held in the following year by multiplying that percentage of change, plus 100%, times the amounts applicable thereunder to the primary and general elections for that office held in the third year preceding the year in which that December 1 occurs; provided that any amount so adjusted shall be rounded as follows: if the adjusted amount is less than $20,000 and is not an exact multiple of $100, to the next higher exact multiple of $100; if the adjusted amount is more than $20,000 but less than $200,000 and is not an exact multiple of $1,000, to the next higher exact multiple of $1,000; if the adjusted amount is more than $200,000 but less than $2,000,000 and is not an exact multiple of $10,000, to the next higher exact multiple of $10,000; and if the adjusted amount is more than $2,000,000 but less than $20,000,000 and is not an exact multiple of $100,000, to the next higher exact multiple of $100,000.

c. The amounts subject to adjustment as provided under this section shall be:

(1) The maximum amount of contributions permitted to be made to any candidate for nomination for election to the office of Governor or for election to the offices of Governor and Lieutenant Governor pursuant to section 4 of P.L.1974, c.26 (C.19:44A-29) and the amount of contributions with respect to which a qualified candidate for nomination for election or for election to those offices shall be eligible to receive moneys from the fund for election campaign expenses pursuant to section 8 of P.L.1974, c.26 (C.19:44A-33);

(2) The amount of deposits or expenditures required to have been made by a candidate for nomination for election to the office of Governor or for election to the offices of Governor and Lieutenant Governor in order for those candidates to be qualified candidates under subsection m. of section 3 of P.L.1973, c.83 (C.19:44A-3) and the amount of such deposits into such candidates' bank account for which no payment of public funds is to be made pursuant to section 8 of P.L.1974, c.26 (C.19:44A-33);

(3) The maximum amount which may be spent in aid of the candidacy of a qualified candidate for the office of Governor in a primary election or the offices of Governor and Lieutenant Governor in a general election pursuant to section 7 of P.L.1973, c.83 (C.19:44A-7); [and] provided, however, that following the effective date of P.L. , c. (C. ) (pending before the Legislature as this bill), no adjustment shall occur for the next primary election for the office of Governor and the next general election for the offices of Governor and Lieutenant Governor;

(4) The maximum amount which any qualified candidate for nomination for election for the office of Governor in a primary election or for election to the offices of Governor and Lieutenant Governor in a general election may receive from the fund for election campaign expenses pursuant to section 8 of P.L.1974, c.26 (C.19:44A-33); and

(5) The maximum amount which candidates for Governor and Lieutenant Governor may raise or spend in a primary or general election pursuant to section 2 of P.L. , c. (C. ) (pending before the Legislature as this bill).

d. Not later than December 15 of each year preceding any year in which a general election is to be held to fill the offices of Governor and Lieutenant Governor for a four-year term, the commission shall report to the Legislature its adjustment of limits in accordance with the provisions of this section. Whenever, following the transmittal of that report, the commission shall have had notice that a person has declared as a candidate for nomination for election for the office of Governor or for election to the offices of Governor and Lieutenant Governor in the forthcoming primary or general election, it shall promptly notify those candidates of the amounts of those adjusted limits.

(cf: P.L.2009, c.66, s.8)

5. Section 18 of P.L.1993, c.65 (C.19:44A-11.3) is amended to read as follows:

18. a. (1) No individual, other than an individual who is a candidate, no corporation of any kind organized and incorporated under the laws of this State or any other state or any country other than the United States, no labor organization of any kind which exists or is constituted for the purpose, in whole or in part, of collective bargaining, or of dealing with employers concerning the grievances, terms or conditions of employment, or of other mutual aid or protection in connection with employment, or any group shall: (1) pay or make any contribution of money or other thing of value to a candidate who has established only a candidate committee, his campaign treasurer, deputy campaign treasurer or candidate committee which in the aggregate exceeds $2,600 per election, or (2) pay or make any contribution of money or other thing of value to candidates who have established only a joint candidates committee, their campaign treasurer, deputy campaign treasurer, or joint candidates committee, which in the aggregate exceeds $2,600 per election per candidate, or (3) pay or make any contribution of money or other thing of value to a candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers, or candidate committee or joint candidates committee, which in the aggregate exceeds $2,600 per election. No candidate who has established only a candidate committee, his campaign treasurer, deputy campaign treasurer or candidate committee shall knowingly accept from an individual, other than an individual who is a candidate, a corporation of any kind organized and incorporated under the laws of this State or any other state or any country other than the United States, a labor organization of any kind which exists or is constituted for the purpose, in whole or in part, of collective bargaining, or of dealing with employers concerning the grievances, terms or conditions of employment, or of other mutual aid or protection in connection with employment, or any group any contribution of money or other thing of value which in the aggregate exceeds $2,600 per election, and no candidates who have established only a joint candidates committee, or their campaign treasurer, deputy campaign treasurer, or joint candidates committee, shall knowingly accept from any such source any contribution of money or other thing of value which in the aggregate exceeds $2,600 per election per candidate, and no candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers, or candidate committee or joint candidates committee shall knowingly accept from any such source any contribution of money or other thing of value which in the aggregate exceeds $2,600 per election.

(2) The total amount that an individual, other than an individual who is a candidate, corporation, labor organization, or any other group may raise or spend to aid or promote the nomination for election, or election, of a candidate to a State or local public office shall not exceed the total amount that an individual candidate may raise or spend for such election pursuant to section 2 of P.L. c. (C. ) (pending before the Legislature as this bill).

b. (1) No political committee or continuing political committee shall: (a) pay or make any contribution of money or other thing of value to a candidate who has established only a candidate committee, his campaign treasurer, deputy campaign treasurer or candidate committee, other than a candidate for nomination for election for the office of Governor or candidates for election for the offices of Governor and Lieutenant Governor, which in the aggregate exceeds $8,200 per election, or (b) pay or make any contribution of money or other thing of value to candidates who have established only a joint candidates committee, their campaign treasurer or deputy campaign treasurer, or the joint candidates committee, which in the aggregate exceeds $8,200 per election per candidate, or (c) pay or make any contribution of money or other thing of value to a candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers, or candidate committee or joint candidates committee, which in the aggregate exceeds $8,200 per election. No candidate who has established only a candidate committee, his campaign treasurer, deputy campaign treasurer or candidate committee, other than a candidate for nomination for election for the office of Governor or candidates for election for the offices of Governor and Lieutenant Governor, shall knowingly accept from any political committee or continuing political committee any contribution of money or other thing of value which in the aggregate exceeds $8,200 per election, and no candidates who have established only a joint candidates committee, their campaign treasurer, deputy campaign treasurer, or joint candidates committee, shall knowingly accept from any such source any contribution of money or other thing of value which in the aggregate exceeds $8,200 per election per candidate, and no candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers, or candidate committee or joint candidates committee shall knowingly accept from any such source any contribution of money or other thing of value which in the aggregate exceeds $8,200 per election.

(2) The limitation upon the knowing acceptance by a candidate, campaign treasurer, deputy campaign treasurer, candidate committee or joint candidates committee of any contribution of money or other thing of value from a political committee or continuing political committee under the provisions of paragraph (1) of this subsection shall also be applicable to the knowing acceptance of any such contribution from the county committee of a political party by a candidate or the campaign treasurer, deputy campaign treasurer, candidate committee or joint candidates committee of a candidate for any elective public office in another county or, in the case of a candidate for nomination for election or for election to the office of member of the Legislature, in a legislative district in which, according to the federal decennial census upon the basis of which legislative districts shall have been established, less than 20% of the population resides within the county of that county committee. In addition, all contributor reporting requirements and other restrictions and regulations applicable to a contribution of money or other thing of value by a political committee or continuing political committee under the provisions of P.L.1973, c.83 (C.19:44A-1 et al.) shall likewise be applicable to the making or payment of such a contribution by such a county committee.

The limitation upon the knowing acceptance by a candidate, campaign treasurer, deputy campaign treasurer, candidate committee or joint candidates committee of any contribution of money or other thing of value from a political committee or continuing political committee under the provisions of paragraph (1) of this subsection, except that the amount of any contribution of money or other thing of value shall be in an amount which in the aggregate does not exceed $25,000, shall also be applicable to the knowing acceptance of any such contribution from the county committee of a political party by a candidate, or the campaign treasurer, deputy campaign treasurer, candidate committee or joint candidates committee of a candidate, for nomination for election or for election to the office of member of the Legislature in a legislative district in which, according to the federal decennial census upon the basis of which legislative districts shall have been established, at least 20% but less than 40% of the population resides within the county of that county committee. In addition, all contributor reporting requirements and other restrictions and regulations applicable to a contribution of money or other thing of value by a political committee or continuing political committee under the provisions of P.L.1973, c.83 (C.19:44A-1 et al.) shall likewise be applicable to the making or payment of such a contribution by such a county committee.

With respect to the limitations in this paragraph, the Legislature finds and declares that:

(a) Persons making contributions to the county committee of a political party have a right to expect that their money will be used, for the most part, to support candidates for elective office who will most directly represent the interest of that county;

(b) The practice of allowing a county committee to use funds raised with this expectation to make unlimited contributions to candidates for the Legislature who may have a limited, or even nonexistent, connection with that county serves to undermine public confidence in the integrity of the electoral process;

(c) Furthermore, the risk of actual or perceived corruption is raised by the potential for contributors to circumvent limits on contributions to candidates by funneling money to candidates through county committees;

(d) The State has a compelling interest in preventing the actuality or appearance of corruption and in protecting public confidence in democratic institutions by limiting amounts which a county committee may contribute to legislative candidates whose districts are not located in close proximity to that county; and

(e) It is, therefore, reasonable for the State to promote this compelling interest by limiting the amount a county committee may give to a legislative candidate based upon the degree to which the population of the legislative district overlaps with the population of that county.

(3) The total amount that a political committee or continuing political committee may raise or spend to aid or promote the nomination for election, or election, of a candidate to a State or local public office shall not exceed the total amount that an individual candidate may raise or spend for such election pursuant to section 2 of P.L. c. (C. ) (pending before the Legislature as this bill).

c. (1) No candidate who has established only a candidate committee, his campaign treasurer, deputy treasurer or candidate committee shall (a) pay or make any contribution of money or other thing of value to another candidate who has established only a candidate committee, his campaign treasurer, deputy campaign treasurer or candidate committee, other than a candidate for nomination for election for the office of Governor or candidates for election for the offices of Governor and Lieutenant Governor, which in the aggregate exceeds $8,200 per election, or (b) pay or make any contribution of money or other thing of value to candidates who have established only a joint candidates committee, their campaign treasurer, deputy campaign treasurer, or joint candidates committee, which in the aggregate exceeds $8,200 per election per candidate in the recipient committee, or (c) pay or make any contribution of money or other thing of value to a candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers, or candidate committee or joint candidates committee, which in the aggregate exceeds $8,200 per election. No candidate who has established only a candidate committee, his campaign treasurer, deputy campaign treasurer or candidate committee, other than a candidate for nomination for election for the office of Governor or candidates for election to the offices of the Governor and Lieutenant Governor, shall knowingly accept from another candidate who has established only a candidate committee, his campaign treasurer, deputy campaign treasurer or candidate committee, any contribution of money or other thing of value which in the aggregate exceeds $8,200 per election, and no candidates who have established only a joint candidates committee, their campaign treasurer, deputy campaign treasurer, or joint candidates committee, shall knowingly accept from any such source any contribution of money or other thing of value which in the aggregate exceeds $8,200 per election per candidate in the recipient committee, and no candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers, or candidate committee or joint candidates committee, shall knowingly accept from any such source any contribution of money or other thing of value which in the aggregate exceeds $8,200 per election.

(2) No candidates who have established only a joint candidates committee, their campaign treasurer, deputy campaign treasurer, or joint candidates committee shall (a) pay or make any contribution of money or other thing of value to another candidate who has established only a candidate committee, his campaign treasurer, deputy campaign treasurer or candidate committee, other than a candidate for nomination for election for the office of Governor or candidates for election for the offices of Governor and Lieutenant Governor, which in the aggregate exceeds, on the basis of each candidate in the contributing joint candidates committee, $8,200 per election, or (b) pay or make any contribution of money or other thing of value to candidates who have established only a joint candidates committee, their campaign treasurer, deputy campaign treasurer or joint candidates committee, which in the aggregate exceeds, on the basis of each candidate in the contributing joint candidates committee, $8,200 per election per candidate in the recipient joint candidates committee, or (c) pay or make any contribution of money or other thing of value to a candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers or candidate committee or joint candidates committee, which in the aggregate exceeds, on the basis of each candidate in the contributing joint candidates committee, $8,200 per election. No candidate who has established only a candidate committee, his campaign treasurer, deputy campaign treasurer, or candidate committee, other than a candidate for nomination for election for the office of Governor or candidates for election for the offices of Governor and Lieutenant Governor, shall knowingly accept from other candidates who have established only a joint candidates committee, their campaign treasurer, deputy campaign treasurer or joint candidates committee, any contribution of money or other thing of value which in the aggregate exceeds, on the basis of each candidate in the contributing committee, $8,200 per election, and no candidates who have established only a joint candidates committee, their campaign treasurer, deputy campaign treasurer, or joint candidates committee, shall knowingly accept from any such source any contribution of money or other thing of value which in the aggregate exceeds, on the basis of each candidate in the contributing joint candidates committee, $8,200 per election per candidate in the recipient joint candidates committee, and no candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers, or candidate committee or joint candidates committee, shall knowingly accept from any such source any contribution of money or other thing of value which in the aggregate exceeds, on the basis of each candidate in the contributing joint candidates committee, $8,200 per election.

(3) No candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers, or candidate committee or joint candidates committee shall (a) pay or make any contribution of money or other thing of value to another candidate who has established only a candidate committee, his campaign treasurer, deputy campaign treasurer or candidate committee, other than a candidate for nomination for election for the office of Governor or candidates for election for the offices of Governor and Lieutenant Governor, which in the aggregate exceeds $8,200 per election, or (b) pay or make any contribution of money or other thing of value to candidates who have established only a joint candidates committee, their campaign treasurer, deputy campaign treasurer or joint candidates committee, which in the aggregate exceeds $8,200 per election per candidate in the recipient joint candidates committee, or (c) pay or make any contribution of money or other thing of value to a candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers, or candidate committee or joint candidates committee, which in the aggregate exceeds $8,200 per election. No candidate who has established only a candidate committee, his campaign treasurer, deputy campaign treasurer, or candidate committee, other than a candidate for nomination for election for the office of Governor or candidates for election for the offices of Governor and Lieutenant Governor, shall knowingly accept from a candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers, or candidate committee or joint candidates committee, any contribution of money or other thing of value which in the aggregate exceeds $8,200 per election, and no candidates who have established only a joint candidates committee, their campaign treasurer, deputy campaign treasurer, or joint candidates committee, shall knowingly accept from any such source any contribution of money or other thing of value which in the aggregate exceeds $8,200 per election per candidate in the recipient joint candidates committee, and no candidate who has established both a candidate committee and a joint candidates committee, the campaign treasurers, deputy campaign treasurers, or candidate committee or joint candidates committee shall knowingly accept from any such source any contribution of money or other thing of value which in the aggregate exceeds $8,200 per election.

(4) Expenditures by a candidate for nomination for election or for election to the office of member of the Legislature or to an office of a political subdivision of the State, or by the campaign treasurer, deputy treasurer, candidate committee or joint candidates committee of such a candidate, which are made in furtherance of the nomination or election, respectively, of another candidate for the same office in the same legislative district or the same political subdivision shall not be construed to be subject to any limitation under this subsection; for the purposes of this sentence, the offices of member of the State Senate and member of the General Assembly shall be deemed to be the same office.

(5) The total amount that a candidate, who has established a candidate committee, joint candidate committee, or both, the candidate's campaign treasurer, deputy treasurer, or candidate committee may raise or spend to aid or promote the nomination for election, or election, of another candidate to a State or local public office shall not exceed the total amount that a candidate may raise or spend for such election pursuant to section 2 of P.L. c. (C. ) (pending before the Legislature as this bill).

d. [Nothing contained in this section shall be construed to impose any limitation on contributions by a candidate, or by a corporation, 100% of the stock in which is owned by a candidate or the candidate's spouse, child, parent or sibling residing in the same household, to that candidate's campaign.] (Deleted by amendment P.L. , c. (pending before the Legislature as this bill))

e. For the purpose of determining the amount of a contribution to be attributed as given to or by each candidate in a joint candidates committee, the amount of the contribution to or by such a committee shall be divided equally among all the candidates in the committee.

(cf: P.L.2009, c.66, s.12)

6. This act shall take effect December 1 following the general election for the offices of Governor and Lieutenant Governor next following the date of enactment; provided that the voters of the State have approved an amendment to the State Constitution allowing the Legislature to impose by law reasonable limits on the amount of money that candidates and other persons or entities may raise or expend in support of, or in opposition to, a candidate for nomination for, or election to, a State or local elective public office.

STATEMENT

This bill imposes limitation on the total amount of money that may be raised or spent for State and local elections. Under the bill, the amount that a candidate, or the candidate's immediate family, may raise or spend in connection with a campaign for nomination for, or election to, a State or local public office may not exceed:

(1) $6.4 million in the case of a candidate for Governor in a primary election and $13.8 million in the case of candidates for Governor and Lieutenant Governor in a general election.

The bill directs the Election Law Enforcement Commission (ELEC) to adjust the total amount candidates for Governor and Lieutenant Governor may raise or spend in connection with a campaign. ELEC would perform this adjustment in the same manner that ELEC currently adjusts the threshold for receiving public financing for campaigns for the offices of Governor and Lieutenant Governor.

Additionally, the bill suspends, for one gubernatorial election cycle, adjustments to the threshold for receiving public financing during an election for Governor and Lieutenant Governor. Freezing the adjustment for one election cycle ensures that the limit on the total amount of money that may be raised or spent on election campaigns does not align with the public financing limits. In the absence of this freeze, every candidate for Governor and Lieutenant Governor would qualify for public financing.

The bill further limits the amount that a person or entity may raise or spend to aid or promote the election of another candidate to a State or local public. Under the bill, the total amount that a person or entity, other than the candidate, may raise or spend in connection with a campaign for nomination for, or election to, a State or local public office may not exceed:

(1) the total amount that candidates for Governor and Lieutenant Governor may raise or spend in a general election under this bill in the case of a State political party committee;

(2) the total amount candidates for county elective office may raise or spend in a general election under this bill in the case of a county political party committee;

(3) one-fourth of the total amount that an individual candidate would be permitted to raise or spend for a particular office under this bill in the case of a municipal political party committee; and

(4) the total amount that an individual candidate would be permitted to raise or spend for a particular office under this bill in the case of an individual, corporation, labor organization, political committee, continuing political committee, or any other group.

The total amount that a candidate, who has established a candidate committee, joint candidate committee, or both, the candidate's campaign treasurer, deputy treasurer, or the candidate committee may raise or spend on another candidate cannot exceed the total amount that the other candidate would be permitted to raise or spend on his or her own campaign for a particular office under this bill.

This bill would take effect December 1 following the general election for the offices of Governor and Lieutenant Governor next following the date of enactment; provided that the voters of the State have approved an amendment to the State Constitution allowing the Legislature to impose by law reasonable limits on the amount of money that candidates and other persons or entities may raise or expend in support of, or in opposition to, a candidate for nomination for, or election to, a State or local elective public office.

The need for candidates to raise and spend enormous sums of money has bred cynicism and distrust among the public and has created an electoral system dominated by special interests. The State has a compelling interest in preventing the extraordinary power of private wealth from affecting the outcome of elections. This State's compelling interest in preventing the erosion of the public's confidence in the democratic process justifies reasonable limits on the total amount of money that candidates and others may raise and spend in State and local elections. This bill is narrowly tailored to address the State's compelling interest in maintaining trust in the democratic process. The limitations set forth in this bill are the least restrictive means available for ensuring that the infusion of large sums of money in campaigns for State and local public office does not erode the public's trust in democracy.