This is an exciting moment to discuss public financing of elections. New York City’s small dollar matching funds program was designed to reduce the role of big money in elections and make contributions from everyday New Yorkers more valuable. The matching funds program has done exactly that for three decades, and recent changes to the program give small dollar contributors an even larger role.

This program has become a model to other jurisdictions as more than a dozen states have adopted their own public financing systems. And with the creation of a state campaign finance commission, New York is the next state in line.

The city’s matching funds program ensures contributions come from city residents in every corner of the five boroughs. In the Bronx during the 2017 elections, 92 percent of Census block groups had at least one contributor, and 94 percent of contributions to Bronx candidates were from individuals. By contrast, state legislative candidates in 2016 raised 68 percent of their funds from special interest groups and corporations.

The city’s public matching funds program also provides voters with more choice and a broader diversity of candidates. In 2017, open City Council races had an average of 10 candidates; seats with an incumbent running still had an average of four candidates make the ballot. Compare that to the State Assembly and Senate, where incumbents rarely face competition.

Last November, 1.2 million New Yorkers voted for a ballot measure to increase the power of small-dollar contributions. The proposal boosted the matching rate to $8-to-$1, from $6-to-$1, and citywide candidates can now get matching funds for the first $250 contributed by NYC residents. Earlier this year, the City Council increased the total amount of public funds available so that all candidates can compete without ever having to raise large-dollar contributions.

These changes will also decrease candidates’ reliance on large contributors, by cutting contribution limits more than half. The largest contribution for mayoral candidates was lowered from $5,100 to $2,000, and from $2,850 to $1,000.

We’re already seeing positive results from these updates to the program. Data from February’s special election for public advocate, the first with the $8-to-$1 match, shows that the most frequent contribution was just $10, compared to $100 in previous elections.

The matching funds program brings more New Yorkers into the political process as candidates, contributors, and voters, while reducing the role of big money in politics. Most New Yorkers would welcome a greater role for voters and a reduced role for special interests in state elections too. As they consider a similar program for New York State, the public financing commission would be well advised to consider the insights we’ve learned from administering New York City’s program.

Amy Loprest is executive director of the New York City Campaign Finance Board