N.J. Admin. Code § 19:25-15.11

Current through Register Vol. 56, No. 24, December 18, 2024

Section 19:25-15.11 - Limitations on participating candidates

(a) Each candidate for the office of Governor and for the office of Lieutenant Governor 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 publicly funded candidate for the office of Governor may make expenditures from the candidate's own funds, including any contributions from the candidate's own funds, in aid of the candidate's campaign 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 the candidate's campaign until such time as the loan is no longer outstanding.

2. No publicly funded candidate for the office of Lieutenant Governor may make expenditures from the candidate's own funds, including any contributions from the candidate's own funds, in aid of the candidate's campaign 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 the candidate's campaign until such time as the loan is no longer outstanding.

3. No candidates for the offices of Governor and of Lieutenant Governor, or their campaign treasurer or deputy campaign treasurer, shall borrow an amount that at any one time exceeds $ 50,000 in the aggregate for their campaign, and such loan must be repaid in full no later than 20 days prior to the general 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 19:25-15.30.

4. The amount that any qualified candidates may spend in aid of their joint candidacies for the offices of Governor and of Lieutenant Governor shall not exceed $ 18.5 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. 19:25-15.26.

5. Contributions by any candidate for the office of Governor in excess of $ 5,800 from the candidate's own funds in aid of the candidate's campaign 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.

6. Contributions by any candidate for the office of Lieutenant Governor in excess of $ 5,800 from the candidate's own funds in aid of the candidate's campaign shall not be deposited in a matching fund account and shall not be calculated in determining eligibility for public matching funds.

N.J. Admin. Code § 19:25-15.11

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

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

Amended by 56 N.J.R. 2349(a), effective 12/16/2024