N.J. Admin. Code § 19:25-16.9

Current through Register Vol. 56, No. 21, November 4, 2024

Section 19:25-16.9 - Limitations on participating candidates

(a) Each candidate intending to participate in public funding, in addition to any other requirement imposed by the Act or this subchapter, is subject to the following limitations:

1. No candidate receiving public funds may make expenditures from his or her own funds, including any contributions from his or her own funds, in aid of his or her candidacy in excess of $ 25,000. Any loan guaranteed with such candidate's own funds must be included in calculating the aggregate contribution of the candidate in aid of his or her candidacy until such time as the loan is no longer outstanding.

2. No candidate, or his or her campaign treasurer or deputy campaign treasurer, shall borrow an amount that at any one time exceeds $ 50,000 in the aggregate, and such loan must be repaid in full not later than 20 days prior to the primary election for which the loan was made from moneys accepted or allocated pursuant to 19:44A-29. Certification of such repayment shall be made by the borrower to the Commission in accordance with N.J.A.C. 19:25- 16.31, Borrowing of funds, repayment.

3. The amount that any qualified candidate may spend in aid of his or her candidacy shall not exceed $ 7.3 million, which amount shall include payments made solely for the purpose of determining whether to become a candidate. Such amount shall not include expenditures listed at N.J.A.C. 19:25-16.27.

4. Contributions by any candidate in excess of $ 4,900 from his or her own funds in aid of his or her candidacy shall not be deposited in a matching fund account and shall not be calculated in determining if such candidate is a qualified candidate eligible for public matching funds.

N.J. Admin. Code § 19:25-16.9

Amended by 50 N.J.R. 911(a), effective 2/20/2018

Amended by 52 N.J.R. 2190(a), effective 12/21/2020