NEW YORK, NY October 15, 2008 —Extending term limits excites the mayor and some council members, but it's terrifying to the city's Campaign Finance Board. The group, which gives money to candidates and regulates how much they can spend, doesn't know what to do if the law is changed. For instance, could a candidate use money to run for a third council term if they originally raised that money to run for another office? Campaign Finance Board Executive Director Amy Lopreste is reaching out to lawmakers and the public for opinions on what to do.

LOPRESTE: The board is trying to arrive at a solution that is administratively feasible, practical for candidates, and allows them to join the program even if they decide to change their plans.

REPORTER: After collecting input, the Campaign Finance Board plans to issue an advisory for candidates about what to do with their campaign war chests.