Prohibits certain political contributions and loans by certain organizations; provides that loans not repaid by the date of the primary or election shall be considered a contribution.
STATE OF NEW YORK
________________________________________________________________________
6233
2025-2026 Regular Sessions
IN ASSEMBLY
February 27, 2025
___________
Introduced by M. of A. R. CARROLL -- read once and referred to the
Committee on Election Law
AN ACT to amend the election law, in relation to political contributions
by certain organizations
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 2 of section 14-116 of the election law, as
2 amended by chapter 4 of the laws of 2019, is amended to read as follows:
3 2. a. Notwithstanding [the provisions of subdivision one of this
4 section, any corporation or an organization financially supported in
5 whole or in part, by such corporation, any limited liability company or
6 other corporate entity may make expenditures, including contributions,
7 not otherwise prohibited by law, for political purposes, in an amount
8 not to exceed five thousand dollars in the aggregate in any calendar
9 year; provided that no public utility shall use revenues received from
10 the rendition of public service within the state for contributions for
11 political purposes unless such cost is charged to the shareholders of
12 such a public service corporation.] any other provision of law to the
13 contrary, no contribution, loan, loan guarantee or other security for
14 such a loan from any corporation, limited liability company, limited
15 liability partnership or partnership, other than in the regular course
16 of the lender's business, may be accepted by a candidate or political
17 committee, other than a corporation, limited liability company, limited
18 liability partnership or partnership that is a political committee, for
19 all nominations to any office or election to any office.
20 b. A loan made to a candidate or political committee, other than a
21 constituted committee, by any person, firm or association shall be
22 repaid by the date of the primary, special or general election, as the
23 case may be, or such loan shall be considered a contribution by such
24 person, firm or association including any person endorsing, cosigning,
25 guaranteeing, collateralizing or other providing security for the loan.
26 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08582-01-5
