Candidates accepting any of the money would have to forgo donations large than $200 per donor, according to her "Clean Elections Plan," which was posted to Medium.
The candidate for the 2020 Democratic presidential nomination labeled the plan a "bold reform to attack the corrupting influence of money at its core."
"My Clean Elections Plan is a critical structural change that gets big money and special interests out of politics, and ensures that elected officials in Washington are beholden only to the people who sent them there," Gillibrand said.
The $200-per-voter cap on individual contributions is a significant drop from the current per-donor limit of $2,800 in primary elections and another $2,800 in general elections.
Outside political groups aren’t subject to contribution limits although Gillibrand and other Democratic 2020 presidential candidates have vowed not to take donations from such groups anyway.
The Associated Press contributed to this report.