Bill Text: NY A01581 | 2017-2018 | General Assembly | Introduced

---

Bill Title: Requires corporations to provide notice of political expenditures.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-01-03 - referred to election law [A01581 Detail]

Download: New_York-2017-A01581-Introduced.html

---

                STATE OF NEW YORK
        ________________________________________________________________________
                                          1581
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    January 12, 2017
                                       ___________
        Introduced  by M. of A. WOERNER -- read once and referred to the Commit-
          tee on Election Law
        AN ACT to amend the business corporation law, in relation  to  requiring
          notice for political expenditures
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. The business corporation law is amended  by  adding  a  new
     2  section 521 to read as follows:
     3  § 521. Political expenditures.
     4    (a)  For  purposes  of  this  section, "political expenditure" means a
     5  contribution, gift, transfer, disbursement, or promise  of  money  or  a
     6  thing  of  value to promote or assist in the promotion of the success or
     7  defeat of a candidate, political party, or  question  in  any  state  or
     8  federal  election. (1) Within forty-eight hours after making a political
     9  expenditure, the corporation shall: (A) give  notice  of  the  political
    10  expenditure  by  electronic  transmission  to  each stockholder that has
    11  requested notice and (B) if the corporation maintains a web  site,  post
    12  notice of the political expenditure on the website.
    13    (2) The notice shall state the amount, recipient, date, and purpose of
    14  the political expenditure.
    15    (b)  The  annual report of the corporation shall contain a list of all
    16  political expenditures made by  the  corporation  during  the  reporting
    17  period, including the amount, recipient, date, and purpose of each poli-
    18  tical expenditure.
    19    (c)  Whenever  it  appears to the attorney general that any person has
    20  engaged in any act or practice constituting a violation of any provision
    21  of this section, the attorney general may bring an action to obtain  one
    22  or more of the following remedies:
    23    (1) a temporary restraining order;
    24    (2) a temporary or permanent injunction;
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03376-01-7
        A. 1581                             2
     1    (3)  a  civil  penalty  not  exceeding  five  thousand dollars for any
     2  violation of this section;
     3    (4) a declaratory judgement;
     4    (5) rescission;
     5    (6) restitution; and
     6    (7) any other appropriate relief.
     7    § 2. This act shall take effect immediately.