First, the ethics rules restrict personal gifts but not political contributions, so paying to attend a fund-raiser is still legitimate.

The rule restricting contributions from state contractors also is not airtight.

"It's called bribery," said the mayor, who has proposed to tightly restrict contributions from lobbyists and others doing business with the city.

In exchange for the public funds, the candidates agree to restrict individual contributions to $3,000 in an election and spending to $3.6 million.

Among the law's provisions would be one restricting individual contributions to $3,000 per primary or general election for candidates who want public financing.

The plan would also restrict large, unregulated contributions to political parties from corporations, unions and wealthy donors.

Federal law supposedly forbids corporations to give to candidates and restricts contributions from the wealthy.

And he worries that restricting political contributions would limit "political discourse."

The new law sharply restricts individual contributions and campaign spending in exchange for partial public financing.

Starting next year, it restricts contributions to qualified retirement plans by higher-paid employees.