Bill Text: NY S07022 | 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) 2018-01-08 - RECOMMIT, ENACTING CLAUSE STRICKEN [S07022 Detail]

Download: New_York-2017-S07022-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          7022
                    IN SENATE
                                       (Prefiled)
                                     January 3, 2018
                                       ___________
        Introduced  by  Sens.  RIVERA, ADDABBO, AVELLA, BRESLIN, BROOKS, COMRIE,
          DILAN, GIANARIS, HAMILTON, HOYLMAN, KAMINSKY, KAVANAGH, KRUEGER, MONT-
          GOMERY, PARKER, PERALTA, PERSAUD, 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.
    23    2.  Notwithstanding the provisions of subdivision one of this section,
    24  any corporation or an organization financially supported in whole or  in
    25  part, by such corporation, any limited liability company or other corpo-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00443-01-7
        S. 7022                             2
     1  rate  entity  may make expenditures, including contributions, not other-
     2  wise prohibited by law, for political purposes,  in  an  amount  not  to
     3  exceed  five  thousand  dollars  in  the aggregate in any calendar year;
     4  provided  that  no  public  utility shall use revenues received from the
     5  rendition of public service within the state for contributions for poli-
     6  tical purposes unless such cost is charged to the shareholders of such a
     7  public service corporation.
     8    3. Each limited liability company that makes an expenditure for  poli-
     9  tical purposes shall file with the state board of elections, by December
    10  thirty-first  of  the year in which the expenditure is made, on the form
    11  prescribed by the state board of elections, the identity of  all  direct
    12  and indirect owners of the membership interests in the limited liability
    13  company and the proportion of each direct or indirect member's ownership
    14  interest in the limited liability company.
    15    §  2.  Section  14-120  of the election law is amended by adding a new
    16  subdivision 3 to read as follows:
    17    3. (a) Notwithstanding any law to the contrary, all contributions made
    18  to a campaign or political committee  by  a  limited  liability  company
    19  shall  be  attributed to each member of the limited liability company in
    20  proportion to the member's ownership interest in the  limited  liability
    21  company.
    22    (b)  If,  by  application  of  paragraph  (a)  of  this subdivision, a
    23  campaign contribution is attributed to a limited liability company,  the
    24  contributions  shall be further attributed to each member of the limited
    25  liability company in proportion to the member's  ownership  interest  in
    26  the limited liability company.
    27    (c)  The state board of elections shall enact regulations that prevent
    28  the avoidance of the rules set forth in paragraphs (a) and (b)  of  this
    29  subdivision.
    30    § 3. This act shall take effect immediately.