Bill Text: NY A05410 | 2023-2024 | General Assembly | Amended

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Bill Title: Prohibits schedule B contributions on campaign finance filings.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to election law [A05410 Detail]

Download: New_York-2023-A05410-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         5410--A

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                     March 10, 2023
                                       ___________

        Introduced  by M. of A. CARROLL -- read once and referred to the Commit-
          tee on Election Law -- committee  discharged,  bill  amended,  ordered
          reprinted as amended and recommitted to said committee

        AN ACT to amend the election law, in relation to political contributions
          by corporations

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subdivision 2 of section 14-116 of  the  election  law,  as
     2  amended by chapter 4 of the laws of 2019, is amended to read as follows:
     3    2.  a.  Notwithstanding  [the  provisions  of  subdivision one of this
     4  section, any corporation or an  organization  financially  supported  in
     5  whole  or in part, by such corporation, any limited liability company or
     6  other corporate entity may make expenditures,  including  contributions,
     7  not  otherwise  prohibited  by law, for political purposes, in an amount
     8  not to exceed five thousand dollars in the  aggregate  in  any  calendar
     9  year;  provided  that no public utility shall use revenues received from
    10  the rendition of public service within the state for  contributions  for
    11  political  purposes  unless  such cost is charged to the shareholders of
    12  such a public service corporation.] any other provision of  law  to  the
    13  contrary,  no  contribution,  loan, loan guarantee or other security for
    14  such a loan from any corporation,  other than in the regular  course  of
    15  the  lender's  business,  shall  be accepted by a candidate or political
    16  committee, except for a corporation that is a political committee or  if
    17  the  contribution is for non-candidate expenditures as defined in subdi-
    18  vision five of section 14-100 of this title, for all nominations to  any
    19  office or election to any office.
    20    b.  A  loan  made  to a candidate or political committee, other than a
    21  constituted committee, by any  person,  firm  or  association  shall  be
    22  repaid  by  the date of the primary, special or general election, as the
    23  case may be, or such loan shall be considered  a  contribution  by  such
    24  person,  firm  or association including any person endorsing, cosigning,

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06903-05-3
        A. 5410--A                          2

     1  guaranteeing, collateralizing or otherwise providing  security  for  the
     2  loan.
     3    c.  Nothing  in  this  subdivision  shall be applicable to independent
     4  expenditure committees, as defined in  subdivision  fifteen  of  section
     5  14-100  of this title or non-candidate expenditures as defined in subdi-
     6  vision five of section 14-100 of this title.
     7    § 2. This act shall take effect immediately.