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- Referred to elections
- Referred to elections
Full text
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Sponsor's memo
BILL NUMBER:S2052
Title of bill
An act to amend the election law, in relation to contributions from limited liability companies
Purpose
To attribute campaign contributions of limited liability companies (LLCs) to the individual members of the LLC in the same manner that partnership contributions are attributed to individual partners in current law.
Summary of provisions
Section 1 of the bill would amend subdivision 2 of section 14-120 of the election law, as added by chapter 79 of the laws of 1992, to treat political contributions from LLCs in the same manner as contributions from partnerships.
Section 2 of the bill specifies the effective date.
Justification
It is widely believed that our campaign finance laws need substantial changes to ensure the integrity of elections in our state. This bill does not address the broad range of issues that might be addressed in a comprehensive reform package. However, this bill would close one enormous loophole in the current system. Under current law, as interpreted by the judiciary, each LLC is considered a separate contributor and may make the maximum allowable contribution. Since a single individual or a small group of individuals often control multiple LLCs-in some cases a very large number of such LLCs-the treatment of these LLCs as separate contributors effectively allows one or more individuals to make a virtually unlimited amount of campaign contributions.
This bill would correct the flaw by simply attributing contributions from LLCs to the members of the LLC in the same way the law currently attributes contributions from partnerships to the individual partners.
Legislative history
2014: A00112 (Kavanagh)- Election Law; Same as S178 (Squadron) - Elections 2013: A00112 (Kavanagh) - Election Law; Same as S178 (Squadron) - Elections 2012: A05916 (Kavanagh) - Election Law 2011: A05916 (Kavanagh) - Election Law 2010: A07069 (Kavanagh) - Election Law 2009: A07069 (Kavanagh) - Election Law
Fiscal implications
None.
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.