David Paterson introduced changes to the state’s campaign finance law, picking up on an unfulfilled promise made by Eliot Spitzer to lower contribution limits and restrict how certain companies steer money into political parties.

Under the proposal, caps on donations to the housekeeping accounts of political parties would be lowered from $150,000 to $25,000.

The chart above has the breakdown about other contribution limits.

Also, the bill includes a “millionaire amendment,” to “level the playing field when races includes a wealthy self-financed candidate.” (Wonder how this would affect a potential race against Michael Bloomberg, who is reportedly eyeing a gubernatorial race.)

Other notable changes include lowering caps on donations from limited liability corporations from $150,000 to $5,000; limiting contributions from lobbyists to $250; requiring information about bundlers who raise $1,000 or more.

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