§ 92-t. New York state campaign finance fund. 1. There is hereby
established in the joint custody of the state comptroller and the
commissioner of taxation and finance a fund to be known as the New York
state campaign finance fund.

2. Such fund shall consist of all revenues received from the New York
state campaign finance fund check-off pursuant to section six hundred
thirty-h of the tax law, from the abandoned property fund pursuant to
section ninety-five of this article, from the general fund, and from all
other moneys credited or transferred thereto from any other fund or
source pursuant to law. Such fund shall also receive contributions from
private individuals, organizations, or other persons to fulfill the
purposes of the public financing system.

3. Moneys of the fund, following appropriation by the legislature, may
be expended for the purposes of making payments to candidates pursuant
to title two of article fourteen of the election law and for
administrative expenses related to the implementation of article
fourteen of the election law. Moneys shall be paid out of the fund by
the state comptroller on vouchers certified or approved by the state
board of elections, or its duly designated representative, in the manner
prescribed by law, not more than five working days after such voucher is
received by the state comptroller.

4. Notwithstanding any provision of law to the contrary, if, in any
state fiscal year, the state campaign finance fund lacks the amount of
money to pay all claims vouchered by eligible candidates and certified
or approved by the state board of elections, any such deficiency shall
be paid by the state comptroller, from funds deposited in the general
fund of the state not more than four working days after such voucher is
received by the state comptroller.

5. Commencing in two thousand twenty-five, if the surplus in the fund
on April first of the year after a year in which a governor is elected
exceeds twenty-five percent of the disbursements from the fund over the
previous four years, the excess shall revert to the general fund of the
state.

6. No public funds shall be paid to any participating candidates in a
primary election any earlier than thirty days after designating
petitions or certificates of nomination have been filed and not later
than thirty days after such primary election.

7. No public funds shall be paid to any participating candidates in a
general election any earlier than the day after the day of the primary
election held to nominate candidates for such election.

8. No public funds shall be paid to any participating candidates in a
special election any earlier than the day after the last day to file
certificates of party nomination for such special election.

9. No public funds shall be paid to any participating candidate who
has been disqualified or whose designating petitions have been declared
invalid by the appropriate board of elections or a court of competent
jurisdiction until and unless such finding is reversed by a higher court
in a final judgment. No payment from the fund in the possession of such
a candidate or such candidate's participating committee on the date of
such disqualification or invalidation may thereafter be expended for any
purpose except the payment of liabilities incurred before such date. All
such moneys shall be repaid to the fund.