NY Elec L § 14-205 (2021)
2021 New York Laws ELN - Election Article 14 - Campaign Receipts and Expenditures; Public Financing Title 2 - Public Financing 14-205 - Payment of Public Matching Funds.

* § 14-205. Payment  of  public  matching  funds.  1. Determination of eligibility. No public matching funds shall be  paid  to  an  authorized committee  unless  the  PCFB determines that the participating candidate has met the eligibility requirements of this title.  Payment  shall  not exceed  the  amounts  specified  in subdivision two of this section, and shall be made only in accordance with the provisions of this title. Such payment may be made only to  the  participating  candidate's  authorized committee.   No   public   matching   funds  shall  be  used  except  as reimbursement or payment for qualified  campaign  expenditures  actually and  lawfully  incurred or to repay loans used to pay qualified campaign expenditures.   2. Calculation of payment. (a) In any election for a public office  to be  voted  on by the voters of the entire state or for nomination to any such office, if the threshold for eligibility is met, the  participating candidate's  authorized  committee  shall  receive payment for qualified campaign expenditures of six dollars of public matching funds  for  each one dollar of matchable contributions, obtained and reported to the PCFB in  accordance with the provisions of this title. The maximum payment of public matching funds shall be limited to the amounts set forth in  this section for the covered election.  (b)  In  any  election  for  state  senate  or  state  assembly or for nomination to any such office, if the threshold for eligibility is  met, the participating candidate's authorized committee shall receive payment for  qualified  campaign  expenditures  for  matchable  contributions of eligible private funds per contributor, obtained, and  reported  to  the PCFB herein, of: twelve dollars of public matching funds for each of the first  fifty  dollars of matchable contributions; nine dollars of public matching funds for each of  the  next  one  hundred  dollars  of  public matchable  contributions; and eight dollars for the each of the next one hundred dollars of public matchable contributions. The  maximum  payment of  public  matching  funds shall be limited to the amounts set forth in this section for the covered election.   3. Timing of payment. The  PCFB  shall  make  any  payment  of  public matching  funds  to  participating candidates as soon as is practicable. But in all cases, it shall verify eligibility for public matching  funds within  four  days,  excluding  weekends  and  holidays,  of receiving a campaign contribution report filed in compliance with section 14-104  of this  article.  Within  two  days  of determining that a candidate for a covered office is eligible for public matching funds, it shall authorize payment of the applicable matching funds owed to the candidate. The PCFB shall schedule at least three payment dates in the thirty days prior  to a covered primary, general, or special election. If any of such payments would  require payment on a weekend or federal holiday, payment shall be made on the next business day.   4. Notwithstanding any provision of this section to the contrary,  the amount  of  public  funds  payable  to  a participating candidate on the ballot in any covered election  shall  not  exceed  one-quarter  of  the maximum  public  funds payment otherwise applicable and no participating candidate shall be eligible to receive a disbursement  of  public  funds prior  to two weeks after the last day to file designating petitions for a primary election unless the participating candidate is  opposed  by  a competitive   candidate.  The  PCFB  shall,  by  regulation,  set  forth objective standards to determine whether a candidate is competitive  and the procedures for qualifying for the payment of public funds.   5. Electronic funds transfer. The PCFB shall, in consultation with the office  of  the  comptroller,  promulgate rules to facilitate electronic funds  transfers  directly  from  the  campaign  finance  fund  into  an authorized committee's bank account.    6.   Irregularly   scheduled   elections.  Notwithstanding  any  other provision of this title, the PCFB shall promulgate rules to provide  for the  prompt  issuance of public matching funds to eligible participating candidates for qualified campaign expenditures in the case of any  other covered  election  held  on  a  day  different  from  the day originally scheduled, including special elections. Provided, however in all  cases, the  PCFB  shall: (a) within four days, excluding weekends and holidays, of receiving a report of contributions from a candidate  for  a  covered office  claiming  eligibility  for  public  matching  funds, verify that candidate's eligibility for public matching funds; and  (b)  within  two days  of determining that the candidate for a covered office is eligible for public matching funds, it shall authorize payment of the  applicable matching funds owed to the candidate.   * NB Effective November 9, 2022