What's happening
This bill restricts the amount of money that can be transferred from a federal candidate's campaign committee to a state, county, or local campaign committee, treating such transfers as individual contributions subject to existing limits.
Why it matters
Closes a fundraising loophole. By treating transfers from federal candidate committees to state/local committees as individual contributions, the bill prevents candidates from bypassing state-level donation limits using their federal campaign accounts.
Limits big-money influence. The change restricts the ability of federal candidates to funnel large sums into state or local races, potentially reducing the impact of wealthy donors or federal campaign war chests on local elections.
Promotes uniformity in campaign finance. Applying the same contribution limits to these transfers as to individual donors helps ensure all sources of funding for state and local campaigns are subject to the same rules, promoting fairness and transparency.
Could affect candidate strategy. Candidates with leftover federal campaign funds may need to adjust their plans for seeking state or local office, since they can no longer freely transfer large amounts to their new campaigns.
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Who cares
Headline styles
Limit Political Funds Transfers
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to election law
- Referred to election law
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1838
2019-2020 Regular Sessions
IN ASSEMBLY
January 17, 2019
Introduced by M. of A. MAGNARELLI -- read once and referred to the Committee on Election Law
AN ACT to amend the election law, in relation to the transfer of funds from a candidate's political committee for a federal office to a candidate's political committee for a state, county or local office
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 1 of section 14-114 of the election law is amended by adding a new paragraph d to read as follows:
d. The transfer of funds from a candidate's political committee for a federal office to a candidate's political committee for a state, county or local office shall be restricted per the contribution limits prescribed in paragraphs a and b of this subdivision. For the purposes of this section a federal candidate committee shall be treated as an individual contributor.
§ 2. This act shall take effect on the thirtieth day after it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00212-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.