Bill Text: NY A02524 | 2017-2018 | General Assembly | Introduced
Bill Title: Relates to campaign contribution limits on corporations; provides that all controlled corporations (subsidiaries) as defined by the IRS code shall be considered one corporation for the purposes of contribution limits; requires the treasurer of a political committee, other than a party committee, to identify and disclose the economic or other special interests of a majority of its contributors and/or organizers and the identity of any common employer or organizer.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2018-01-03 - referred to election law [A02524 Detail]
Download: New_York-2017-A02524-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2524 2017-2018 Regular Sessions IN ASSEMBLY January 20, 2017 ___________ Introduced by M. of A. DINOWITZ -- read once and referred to the Commit- tee on Election Law AN ACT to amend the election law, in relation to the classification of certain components of a controlled group of corporations as a single entity for purposes of calculating contribution limits, and requiring the identification of the interests of certain contributors 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 260 of the laws of 1981, is amended to read as 3 follows: 4 2. Notwithstanding the provisions of subdivision one of this section, 5 any corporation or an organization financially supported in whole or in 6 part, by such corporation may make expenditures, including contrib- 7 utions, not otherwise prohibited by law, for political purposes, in an 8 amount not to exceed five thousand dollars in the aggregate in any 9 calendar year; provided that no public utility shall use revenues 10 received from the rendition of public service within the state for 11 contributions for political purposes unless such cost is charged to the 12 shareholders of such a public service corporation. For the purposes of 13 this subdivision, all the component members of a controlled group of 14 corporations within the meaning of section one thousand five hundred 15 sixty-three of the Internal Revenue Code of the United States shall be 16 deemed to be one corporation. 17 § 2. Subdivision 1 of section 14-118 of the election law, as amended 18 by section 9 of part A of chapter 286 of the laws of 2016, is amended to 19 read as follows: 20 1. Every political committee shall have a treasurer and a depository, 21 and shall cause the treasurer to keep detailed, bound accounts of all 22 receipts, transfers, loans, liabilities, contributions and expenditures, 23 made by the committee or any of its officers, members or agents acting EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03814-01-7A. 2524 2 1 under its authority or in its behalf. All such accounts shall be 2 retained by a treasurer for a period of five years from the date of the 3 filing of the final statement with respect to the election, primary 4 election or convention to which they pertain. No officer, member or 5 agent of any political committee shall receive any receipt, transfer or 6 contribution, or make any expenditure or incur any liability until the 7 committee shall have chosen a treasurer and depository and filed their 8 names in accordance with this subdivision. There shall be filed in the 9 office in which the committee is required to file its statements under 10 section 14-110 of this article, within five days after the choice of a 11 treasurer and depository, a statement giving the name and address of the 12 treasurer chosen, the name and address of any person authorized to sign 13 checks by such treasurer, the name and address of the depository chosen 14 and the candidate or candidates or ballot proposal or proposals the 15 success or defeat of which the committee is to aid or take part; 16 provided, however, that such statement shall not be required of a 17 constituted committee and provided further that a political action 18 committee which makes no expenditures, to aid or take part in the 19 election or defeat of a candidate, other than in the form of contrib- 20 utions, shall not be required to list the candidates being supported or 21 opposed by such committee and shall also disclose the name and employer 22 for any individual who exerts operational control over the political 23 action committee as well as any salaried employee of the political 24 action committee. Such a statement from any committee other than a 25 party or authorized committee also shall clearly identify the economic 26 or other special interest, if identifiable, of a majority of its 27 contributors, and if a majority of its contributors share a common 28 employer, shall identify the employer. If the economic or other special 29 interest or common employer are not identifiable, such statement of a 30 multi-candidate committee shall clearly identify the economic or other 31 special interest, if identifiable, of a majority of its organizers, and 32 if a majority of its organizers share a common employer, shall identify 33 the employer, and if organized, controlled or maintained by an individ- 34 ual, shall identify that individual. Such statement shall be signed by 35 the treasurer and all other persons authorized to sign checks. Any 36 change in the information required in any statement shall be reported, 37 in an amended statement filed in the same manner and in the same office 38 as an original statement filed under this section, within two days after 39 it occurs, except that any change to the mailing address on any such 40 statement filed at the state board may also be made in any manner deemed 41 acceptable by the state board. Only a banking organization authorized to 42 do business in this state may be designated a depository hereunder. 43 § 3. This act shall take effect immediately.
