Rule 7-05 Contribution and Expenditure Limit Adjustments.

(a) Adjustment of Contribution Limits. Pursuant to §3-703(7) of the Code, not later than the first day of March in the year 2018, and every fourth year thereafter, the Board shall adjust the contribution limits in accordance with changes in the consumer price index for the metropolitan New York-New Jersey region published by the United States Bureau of Labor Statistics. The adjustments shall be based on the difference between the average consumer price index over the twelve months preceding the calendar year of such adjustment, and either (a) the calendar year preceding the year of the last such adjustment or (b) such other calendar year as may be appropriate pursuant to any amendment to the Act.

(b) Adjustment of Expenditure Limits. Pursuant to §3-706(1)(e) of the Code, not later than the first day of March in the year 2010, and every fourth year thereafter, the Board shall adjust the expenditure limits applicable pursuant to § 3-706(1) and (2) in accordance with changes in the consumer price index for the metropolitan New York-New Jersey region published by the United States Bureau of Labor Statistics. The adjustments shall be based on the difference between the average consumer price index over the twelve months preceding the calendar year of such adjustment, and either (a) the calendar year preceding the year of the last such adjustment or (b) such other calendar year as may be appropriate pursuant to any amendment to the Act.