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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to rules
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.
Relates to political contributions
In Assembly Committee · Rules · Sponsor Joan Millman
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S8395
Title of bill
An act to amend the election law, in relation to political contributions
Purpose or general idea of bill
This bill would add Limited Liability Companies to section 14-116 of the election law to provide that LLCs have the same $5000 limit for making contributions to candidates, parties and political committees per year, as do corporations currently.
Summary of specific provisions
Section 1 of the bill adds Limited Liability Companies to Election Law § 14-116 to provide that LLCs have the same $5000 contribution limit per year as do corporations.
Section 2 of the bill is the effective date.
Justification
The Election Law does not address the aggregate amount of political contributions that an LLC may make to candidates, parties and political committees in anyone year. As a result, the State Board of Elections has opined that they should be treated as individuals for purposes of a limit and, therefore, under current practice, an LLC is allowed to make $150,000 in contributions in anyone year. This bill would require that LLCs be treated like corporations, rather than individuals, for purposes of annual contribution limits.
Prior legislative history
None.
Effective date
This bill would take effect on January 1, 2011.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.