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Sponsors
2 Co-sponsors
History
- Referred to elections
- Referred to elections
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Requires reporting of the identities of persons acting as intermediaries or bundlers of political contributions in certain cases
In Assembly Committee · Election Law · Sponsor Brian Kavanagh
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the election law, in relation to intermediaries
Purpose
Requires the disclosure of the name, address and the amount of money raised and from whom raised of any "intermediary" or bundler of campaign contributions. Often a core group of wealthy or high profile individuals raise a large portion of the funds needed for a political candidate's campaign; this bill would require that core groups and the amount each member has raised be clearly and distinctly disclosed.
Summary of provisions
The bill adds a new subdivision 12 to § 14-100 of the election law defining an "intermediary" or bundler of contributions. The bill amends § 14-102 of the election law to require the listing of intermediary information on campaign financial disclosure reports filed by political committees with the Board of Elections.
Justification
This bill would help in clearing up some of the mystery of how political candidates are able to raise such large sums of money for statewide and other campaigns. As stated above, often a core group of wealthy or high profile individuals act as a fundraising committee for a political candidate and raise a large portion if not a majority of the funds for a campaign. For example, while the individual contribution limit for a State Senator may be $7,000 for a general election, if a wealthy individual holds a fundraiser at his or her home where each of the guests gives up to the contribution limit, that, individual was primarily responsible for raising tens or even hundreds of thousands of dollars for the candidate. This bill would insure that campaign financial disclosure reports clearly list who was able to funnel this large contribution to the candidate. New York City has had a "bundler disclosure" statute for a number of years now. This statute has done a great deal to educate the public as to who is doing the fundraising for candidates and how much these "bundlers" are taking in.
Legislative history
03/07/07 REFERRED TO ELECTIONS 01/09/08 REFERRED TO ELECTIONS
Fiscal implications
None.
Effective date
This act shall take effect on the one hundred twentieth day after it shall have become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.