Provides that for contributions that exceed twenty-five hundred dollars, when a campaign contribution is attributed to a limited liability company, such contributions shall be further attributed to each member of the limited liability company in proportion to the member's ownership interest in the limited liability company.
STATE OF NEW YORK
________________________________________________________________________
3154
2023-2024 Regular Sessions
IN ASSEMBLY
February 2, 2023
___________
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 certain political
campaign contributions
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph (b) of subdivision 3 of section 14-120 of the
2 election law, as added by chapter 4 of the laws of 2019, is amended to
3 read as follows:
4 (b) If, by application of paragraph (a) of this subdivision, a
5 campaign contribution is attributed to a limited liability company, the
6 contributions shall be further attributed to each member of the limited
7 liability company in proportion to the member's ownership interest in
8 the limited liability company for contributions that exceed twenty-five
9 hundred dollars.
10 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02492-01-3
