Res. No. 282
Resolution calling upon the New York State Legislature to pass, and the Governor to sign, legislation to raise the financial disclosure threshold for campaigns from $1,000 to $3,000.
By Council Members Powers and Brannan
Whereas, The New York City Campaign Finance Act (Admin Code §3-703(6-a.) requires campaigns to file financial disclosures and directs the Campaign Finance Board (‘CFB’) to provide exemptions for small campaigns in their rules; and
Whereas, The Campaign Finance Board Rule 1-11(c) defines a small campaign as a campaign with both expenditures and contributions under $1,000, based on the New York State Election Law (§14-124); and
Whereas, Changing the state Election Law to reflect an increase in the financial disclosure threshold from $1,000 to $3,000 would automatically change the citywide threshold as the CFB rule is tied to the New York State Election Law; and
Whereas, The cost of running a winning campaign in New York City ranges from $140,000 in City Council elections to $7 million in mayoral elections; and
Whereas, Running a small campaign within the $1,000 disclosure threshold is largely impossible given the resource demands of running a campaign in New York City; and
Whereas, Raising the disclosure threshold by $2,000 would allow candidates with few resources to engage in dialogue on city and districtwide issues through their campaigns, with relief from administrative burden that could detract from their message; and
Whereas, Raising the disclosure threshold would save CFB time and resources as it would exempt additional campaigns with minimal impact from disclosure and subsequent review; now, therefore, be it
Resolved, That the Council of the City of New York calls upon the New York State Legislature to pass, and the Governor to sign, legislation to raise the financial disclosure threshold for campaigns from $1,000 to $3,000.