Bill Text: NY S00496 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to political contributions by limited liability companies.

Spectrum: Partisan Bill (Democrat 20-0)

Status: (Introduced - Dead) 2017-01-04 - REFERRED TO ELECTIONS [S00496 Detail]

Download: New_York-2017-S00496-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                           496
                               2017-2018 Regular Sessions
                    IN SENATE
                                       (Prefiled)
                                     January 4, 2017
                                       ___________
        Introduced  by  Sens. SQUADRON, ADDABBO, AVELLA, BRESLIN, COMRIE, DILAN,
          GIANARIS, HAMILTON, HOYLMAN, KAMINSKY, KRUEGER,  LATIMER,  MONTGOMERY,
          PARKER,   PERALTA,   PERKINS,   PERSAUD,  RIVERA,  SERRANO,  STAVISKY,
          STEWART-COUSINS -- read twice and ordered printed, and when printed to
          be committed to the Committee on Elections
        AN ACT to amend the election law, in relation to political contributions
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. Section 14-116 of the election law, subdivision 1 as redes-
     2  ignated by chapter 9 of the laws of 1978 and subdivision 2 as amended by
     3  chapter 260 of the laws of 1981, is amended to read as follows:
     4    §  14-116.  Political  contributions  by certain organizations. 1.  No
     5  corporation [or], limited liability company, joint-stock association  or
     6  other  corporate  entity  doing  business in this state, except a corpo-
     7  ration or association organized or  maintained  for  political  purposes
     8  only, shall directly or indirectly pay or use or offer, consent or agree
     9  to  pay  or  use  any  money  or property for or in aid of any political
    10  party, committee or organization, or for, or in aid of, any corporation,
    11  limited liability company, joint-stock [or], other association, or other
    12  corporate entity organized or maintained for political purposes, or for,
    13  or in aid of, any candidate for political office or for  nomination  for
    14  such  office,  or  for  any  political  purpose  whatever,  or  for  the
    15  reimbursement or indemnification of any person for moneys or property so
    16  used. Any officer, director, stock-holder, member,  owner,  attorney  or
    17  agent  of  any  corporation [or], limited liability company, joint-stock
    18  association  or  other  corporate  entity  which  violates  any  of  the
    19  provisions  of this section, who participates in, aids, abets or advises
    20  or consents to any such violations, and any person who solicits or know-
    21  ingly receives any money or property in violation of this section, shall
    22  be guilty of a misdemeanor.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00443-01-7
        S. 496                              2
     1    2. Notwithstanding the provisions of subdivision one of this  section,
     2  any  corporation or an organization financially supported in whole or in
     3  part, by such corporation, any limited liability company or other corpo-
     4  rate entity may make expenditures, including contributions,  not  other-
     5  wise  prohibited  by  law,  for  political purposes, in an amount not to
     6  exceed five thousand dollars in the  aggregate  in  any  calendar  year;
     7  provided  that  no  public  utility shall use revenues received from the
     8  rendition of public service within the state for contributions for poli-
     9  tical purposes unless such cost is charged to the shareholders of such a
    10  public service corporation.
    11    3. Each limited liability company that makes an expenditure for  poli-
    12  tical purposes shall file with the state board of elections, by December
    13  thirty-first  of  the year in which the expenditure is made, on the form
    14  prescribed by the state board of elections, the identity of  all  direct
    15  and indirect owners of the membership interests in the limited liability
    16  company and the proportion of each direct or indirect member's ownership
    17  interest in the limited liability company.
    18    §  2.  Section  14-120  of the election law is amended by adding a new
    19  subdivision 3 to read as follows:
    20    3. (a) Notwithstanding any law to the contrary, all contributions made
    21  to a campaign or political committee  by  a  limited  liability  company
    22  shall  be  attributed to each member of the limited liability company in
    23  proportion to the member's ownership interest in the  limited  liability
    24  company.
    25    (b)  If,  by  application  of  paragraph  (a)  of  this subdivision, a
    26  campaign contribution is attributed to a limited liability company,  the
    27  contributions  shall be further attributed to each member of the limited
    28  liability company in proportion to the member's  ownership  interest  in
    29  the limited liability company.
    30    (c)  The state board of elections shall enact regulations that prevent
    31  the avoidance of the rules set forth in paragraphs (a) and (b)  of  this
    32  subdivision.
    33    § 3. This act shall take effect immediately.