Taxpayers will be on the hook to fund state political campaigns under Albany’s new budget.

It establishes a commission to “implement public campaign financing for legislative and statewide offices,” Gov. Cuomo said.

It also authorizes spending up to $100 million annually in taxpayers’ money.

“The commission will determine specific aspects of the public financing system, including eligibility thresholds, public financing limits, and contribution limits for participating candidates,” Cuomo said.

Its recommendations must be submitted by Dec. 1, and lawmakers will get 20 days to accept or reject them.

If the Assembly and Senate can’t decide, the panel’s decisions will automatically become law.

“We will rue the day this is passed. Right now, a lot of people are upset,” said Assemblyman Bobby Carroll (D-Brooklyn), an ardent supporter of public financing but no fan of the new commission.

Assembly Speaker Carl Heastie (D-Bronx) Friday predicted the plan will cost more than $500 million over the next four years.

“We just finished putting together a budget where we were scrimping and saving trying to find pennies in the couch.”