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History
- Committee discharged and committed to rules
- Notice of committee consideration - requested
- Referred to elections
- Defeated in elections
- Notice of committee consideration - requested
- 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 an authorized continuing candidate committee for any individual to dispose of all funds within certain time frames
In Assembly Committee · Rules · Sponsor George Latimer
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S420
Title of bill
An act to amend the election law, in relation to disposition of campaign funds
Purpose
This bill amends Article 14 of the Election Law to require that campaign funds are disposed of in a timely and appropriate manner after a candidate leaves office.
Summary of provisions
The Election Law is amended by adding a new section 14-132.
Subdivision one requires an authorized candidate committee to dispose of all funds and close within four years after the end of a candidate's term office or date of the election in which the candidate was last filed, whichever is later.
Subdivision two requires a candidate or political committee, including a committee formed to promote or defeat the passage of a ballot amendment to dispose of funds by: (1) returning funds pro rata to contributors; (2) donating the funds to a 501(c)(3) -designated organization; (3) donating the funds to the state university; (4) donating the funds to the state's general funds; (5) transferring the funds to a political party committee; or (6) contributing the funds to a candidate or political committee within the current contribution limits.
Subdivision three bars the disposal of campaign funds for personal use.
Subdivision four requires that all funds be disposed of within twelve months of the death of a candidate.
Justification
This bill addresses how campaign funds are expended. Currently, New York's election law, allowing candidates to spend campaign funds for "any lawful purpose," is among the most lax in the nation. There is a growing and justifiable public perception that campaign funds are being used to enhance the post election lifestyles of candidates for public office. The bill sets limits on how long campaign committees can be maintained by former candidates. Reports of committees continuing years after campaigns were ended are all too common. By setting time limits and also specifying how excess funds can be disbursed, this abuse will be eliminated.
Fiscal implications
None.
Legislative history
2010: S.8256
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.