Int 1111-2024

Be it enacted by the Council as follows: Section 1. Subdivision 7 of section 3-703 of the administrative code of the city of New York, as amended by local law number 128 for the year 2019, is amended to read as follows: 7. Not later than the first day of March in [the year two thousand twenty-two and every fourth year thereafter] any year following a general election described in subdivision a of section 25 of the charter, the campaign finance board shall: (i) determine the percentage difference between (A) the average over a calendar year of the consumer price index for the metropolitan New York-New Jersey region published by the United States bureau of labor statistics for the twelve months preceding the beginning of such calendar year, and (B) the average [over the calendar year two thousand nineteen of such consumer price index] that the board most recently used to adjust maximum contributions pursuant to this subdivision for the candidates for the applicable office; (ii) adjust each maximum contribution applicable pursuant to paragraph (f) of subdivision one of this section by the amount of such percentage difference to the nearest fifty dollars; and (iii) publish such adjusted maximum contribution in the City Record. Such adjusted maximum contribution shall be in effect for any election held before the next such adjustment; provided, however, that for such an adjustment occurring after an election for members of the city council at the general election in two thousand twenty-three and every twenty years thereafter, pursuant to subdivision a of section 25 of the charter, the board shall only adjust such maximum contributions applicable to candidates for member of the city council. � 2. Paragraph (e) of subdivision 1 of section 3-706 of the administrative code of the city of New York, as amended by local law number 34 for the year 2007, is amended to read as follows: (e) Not later than the first day of March in [the year two thousand ten and every fourth year thereafter] any year following a general election described in subdivision a of section 25 of the charter, the campaign finance board shall: (i) determine the percentage difference between (A) the average over a calendar year of the consumer price index for the metropolitan New York-New Jersey region published by the United States bureau of labor statistics for the twelve months preceding the beginning of such calendar year, and (B) the average [over the calendar year two thousand seven of such consumer price index] that the board most recently used to adjust expenditure limitations pursuant to this subdivision for the candidates for the applicable office; (ii) adjust each expenditure limitation applicable either pursuant to this subdivision or subdivision 2 of this section by the amount of such percentage difference to the nearest thousand dollars; and (iii) publish such adjusted expenditure limitation in the City Record. Such adjusted expenditure limitation shall be in effect for any election held before the next such adjustment; provided, however, that for such an adjustment occurring after an election for members of the city council at the general election in two thousand twenty-three and every twenty years thereafter, pursuant to subdivision a of section 25 of the charter, the board shall only adjust such expenditure limitations applicable to candidates for member of the city council. � 3. This local law takes effect immediately, provided that section two of this local law is retroactive to and deemed to have been in effect as of March 1, 2024, and that the campaign finance board shall make the adjustments due no later than March 1, 2024, in accordance with paragraph (e) of subdivision 1 of section 3-706 of the administrative code of the city of New York as amended by section two of this local law, no later than March 1, 2025. DSS/JG LS # 17624 12/11/2024 4:48 PM 3 2