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History
- Print number 166a
- Amend and recommit to elections
- Referred to elections
- Referred to elections
Full text
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Sponsor's memo
BILL NUMBER:S166A
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 make limited liability companies subject to an aggregate contribution limit which has been lowered from $5000 to $1,000.
Summary of specific provisions
Section 1 of the bill adds Limited Liability Companies to Election Law § 14-116 to provide that LLCs are subject to an aggregate contribution limit which has been lowered from $5000 to $1,000.
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 any one year.
By equating LLC's as corporations and simultaneously lowering the contribution limits for both types of entities, this bill seeks to further reform our campaign finance laws.
Prior legislative history
2010: S.8395/A.11355-A 2012: Committee Discharged and Committed to Rules
Effective date
This bill shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.