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Who cares
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Sponsors
3 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.
Treats parent corporations and their 50% or more owned subsidiaries as one entity for purposes of the applicability of certain campaign contribution limits
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 the treatment of corporate subsidiaries for purposes of the application of contribution limits and reporting requirements
Purpose
This bill would include corporations that are majority owned or controlled by a parent corporation or the individuals who own or control the parent corporation within the same $5,000 limit on the amount of the parent corporation's contributions to political party committees and political candidates. This bill would also require the disclosure of the names and addresses of parent corporations and individuals who own or control related corporations.
Summary of provisions
Section 1 of the bill amends section 14-102 of the election law by adding a new subdivision 6 which requires campaign reports to include the names and addresses of parent corporations and individuals who own or control shares of either the parent or subsidiary corporation.
Section 2 of the bill amends Section 14-116 of the election law by add a new subdivision 3 which defines "corporation" to include any parent corporation and all of its subsidiaries which are majority owned and controlled by the same individual or group of individuals that own or control the parent corporation.
Section 3 of the bill specifies the effective date.
Justification
Corporations are currently subject to a $5,000 limitation on contributions to political party committees and candidates. However, subsidiary corporations and corporations owned and controlled by the same principals are subject to a separate $5,000 limitation. There is also no requirement that campaign reports contain information about corporate subsidiaries or individuals who control them.
This bill would improve the state's current system for reporting campaign contributions, which makes it easy for corporations to get around the $5,000 donation limit and allows donors to hide the true source of contributions. This bill would also prevent corporations from disguising contributions by having shell corporations or little-known subsidiaries donate additional money for them.
Legislative history
S.3563 of 1997-1998 (Leichter): Died in Elections S.56 of 1999-2000 (Oppenheimer): Died in Elections S.4804 of 2001-2002 (Oppenheimer): Died in Elections S.3632 of 2003-2004 (Oppenheimer): Died in Elections S.3719 of 2005-2006 (Oppenheimer): Died in Elections S.3702 of 2007-2008 (Oppenheimer): Died in Elections S.3980 of 2009-2010 (Oppenheimer): Died in Elections A.7697 of 2009-2010 (Kavanagh): Died in Elections S.3731 of 2011-2012 (Oppenheimer): Died in Elections A.6397 of 2011-2012 (Kavanagh): Died in Elections S.2968 of 2013-2014 (Gipson): Died in Elections A.2018 of 2013-2014 (Kavanagh): Died in Elections
Fiscal impact on the state
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.