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The New York State Board of Elections is a bipartisan agency of the New York state government within the New York State Executive Department responsible for enforcement and administration of election-related laws. [1] [2] It also regulates campaign finance disclosure and limitations through its "fair campaign code". [1] [3]
A 527 organization or 527 group is a type of U.S. tax-exempt organization organized under Section 527 of the U.S. Internal Revenue Code (26 U.S.C. § 527).A 527 group is created primarily to influence the selection, nomination, election, appointment or defeat of candidates to federal, state or local public office.
The New York City Campaign Finance Board (CFB) is an independent New York City agency that serves to provide campaign finance information to the public, enable more citizens to run for office by granting public matching funds, increase voter participation and awareness, strengthen the role of small contributors, and reduce the potential for actual or perceived corruption.
In 1971, Congress passed the Federal Election Campaign Act (FECA), instituting various campaign finance disclosure requirements for federal candidates (those running for the House, the Senate, the President and the Vice President), political parties, and political action committees.
Requirements for a candidate to be declared eligible for funding under the Presidential Election Campaign Fund include agreeing to an overall spending limit, abiding by spending limits in each state, using public funds only for legitimate campaign-related expenses, keeping financial records, and permitting an extensive campaign audit.
A $92 million war chest and unclear regulations highlight the need for reform to protect political speech.
Campaign finance laws in the United States have been a contentious political issue since the early days of the union. The most recent major federal law affecting campaign finance was the Bipartisan Campaign Reform Act (BCRA) of 2002, also known as " McCain - Feingold ".
The bill would amend the Federal Election Campaign Act of 1971 to provide for greater and faster public disclosure of campaign spending and to combat the use of "dark money" in U.S. elections (which increased from $69 million in 2008 to $310 million in 2012). [5] The 2023 version of the DISCLOSE Act bill: [6]