Bill Text: NY A08170 | 2009-2010 | General Assembly | Introduced

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Bill Title: Enacts the Bailout Integrity Act, prohibiting the receipt by state candidates, political committees or constituted committees of donations by certain corporations that have received federal emergency economic assistance and the making of such donations by recipient corporations.

Spectrum: Partisan Bill (Democrat 19-0)

Status: (Introduced - Dead) 2010-01-06 - referred to election law [A08170 Detail]

Download: New_York-2009-A08170-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         8170
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                      May 6, 2009
                                      ___________
       Introduced  by  M.  of  A. ZEBROWSKI, BARRON, CASTRO, FIELDS, GABRYSZAK,
         GALEF, KOON, STIRPE, TOWNS -- Multi-Sponsored by -- M. of A.  BOYLAND,
         CAMARA,  GUNTHER, JAFFEE, JOHN, MENG, ROBINSON, TITUS -- read once and
         referred to the Committee on Election Law
       AN ACT to amend the election law, in relation to enacting  the  "Bailout
         Integrity  Act" prohibiting the receipt by state candidates, political
         committees or constituted committees of donations  by  certain  corpo-
         rations  that  have received federal emergency economic assistance and
         the making of such donations by recipient corporations
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  This  act shall be known and may be cited as the "Bailout
    2  Integrity Act".
    3    S 2. The election law is amended by adding a  new  section  14-132  to
    4  read as follows:
    5    S  14-132.  POLITICAL  CONTRIBUTIONS  BY  FEDERAL  EMERGENCY  ECONOMIC
    6  ASSISTANCE RECIPIENTS.  1.  A.  NO  CANDIDATE,  POLITICAL  COMMITTEE  OR
    7  CONSTITUTED  COMMITTEE  SHALL  ACCEPT ANY CONTRIBUTIONS FOR CANDIDATE OR
    8  NON-CANDIDATE EXPENDITURES FROM ANY CORPORATION THAT HAS RECEIVED FEDER-
    9  AL EMERGENCY ECONOMIC ASSISTANCE. ANY CANDIDATE, POLITICAL COMMITTEE  OR
   10  CONSTITUTED  COMMITTEE  IN  THIS  STATE ACCEPTING CAMPAIGN CONTRIBUTIONS
   11  FROM A FEDERAL EMERGENCY ECONOMIC ASSISTANCE RECIPIENT SHALL RETURN SUCH
   12  CAMPAIGN CONTRIBUTION  TO  THE  FEDERAL  EMERGENCY  ECONOMIC  ASSISTANCE
   13  RECIPIENT WITHIN SIXTY DAYS OF NOTICE GIVEN BY THE BOARD OF ELECTIONS TO
   14  SUCH CANDIDATE, POLITICAL COMMITTEE OR CONSTITUTED COMMITTEE.
   15    B. NO CORPORATION THAT HAS RECEIVED FEDERAL EMERGENCY ECONOMIC ASSIST-
   16  ANCE SHALL MAKE ANY CONTRIBUTIONS FOR CANDIDATE OR NON-CANDIDATE EXPEND-
   17  ITURES TO ANY CANDIDATE, POLITICAL COMMITTEE OR CONSTITUTED COMMITTEE IN
   18  THIS STATE.
   19    2. A. A CIVIL PENALTY OF UP TO THE AMOUNT OF THE CONTRIBUTION ACCEPTED
   20  BY   A  CANDIDATE,  POLITICAL  COMMITTEE  OR  CONSTITUTED  COMMITTEE  IN
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD11690-01-9
       A. 8170                             2
    1  VIOLATION OF THE PROVISIONS OF THIS SECTION SHALL BE  IMPOSED  UPON  ANY
    2  CANDIDATE,   POLITICAL  COMMITTEE  OR  CONSTITUTED  COMMITTEE  KNOWINGLY
    3  ACCEPTING A CONTRIBUTION FROM A FEDERAL  EMERGENCY  ECONOMIC  ASSISTANCE
    4  RECIPIENT.
    5    B.  A  CIVIL  PENALTY  OF  UP TO ONE HUNDRED THOUSAND DOLLARS SHALL BE
    6  IMPOSED ON ANY FEDERAL EMERGENCY ECONOMIC  ASSISTANCE  RECIPIENT  CORPO-
    7  RATION  THAT  CONTRIBUTES TO A CANDIDATE, POLITICAL COMMITTEE OR CONSTI-
    8  TUTED COMMITTEE IN THIS STATE.
    9    3. THE BOARD OF ELECTIONS SHALL IDENTIFY ALL CORPORATIONS IN WHICH THE
   10  FEDERAL GOVERNMENT HAS ACQUIRED AN EQUITY INTEREST ON OR AFTER  DECEMBER
   11  THIRTY-FIRST,  TWO  THOUSAND SEVEN THROUGH THE PROGRAM AUTHORIZED BY THE
   12  EMERGENCY ECONOMIC STABILIZATION ACT OF 2008 OR THE  THIRD  UNDESIGNATED
   13  PARAGRAPH  OF  SECTION 13 OF THE FEDERAL RESERVE ACT (12 U.S.C. 343) AND
   14  SHALL COMPILE A LIST OF THOSE CORPORATIONS DESIGNATED AS  BEING  RECIPI-
   15  ENTS  OF  FEDERAL EMERGENCY ECONOMIC ASSISTANCE. SUCH LIST SHALL BE MADE
   16  AVAILABLE BY THE BOARD OF ELECTIONS TO ALL STATE  CANDIDATES,  POLITICAL
   17  COMMITTEES   OR   CONSTITUTED   COMMITTEES   NO   LATER   THAN  DECEMBER
   18  THIRTY-FIRST, TWO THOUSAND NINE. THE BOARD OF  ELECTIONS  SHALL  PERIOD-
   19  ICALLY UPDATE THE LIST OF CORPORATIONS DESIGNATED AS BEING RECIPIENTS OF
   20  FEDERAL EMERGENCY ECONOMIC ASSISTANCE.
   21    4.  AS  USED  IN  THIS SECTION, "CORPORATION THAT HAS RECEIVED FEDERAL
   22  EMERGENCY ECONOMIC ASSISTANCE" MEANS  ALL  CORPORATIONS,  INCLUDING  THE
   23  FEDERAL NATIONAL MORTGAGE ASSOCIATION AND THE FEDERAL HOME LOAN MORTGAGE
   24  CORPORATION,  THAT  HAVE  RECEIVED FEDERAL EMERGENCY ECONOMIC ASSISTANCE
   25  UNDER THE PROGRAM AUTHORIZED BY THE EMERGENCY ECONOMIC STABILIZATION ACT
   26  OF 2008 OR THE THIRD UNDESIGNATED PARAGRAPH OF SECTION 13 OF THE FEDERAL
   27  RESERVE ACT (12 U.S.C. 343) IN AN OUTSTANDING AGGREGATE AMOUNT EXCEEDING
   28  ONE HUNDRED MILLION DOLLARS.
   29    S 3. This act shall take effect immediately.