Relates to campaign contribution limits on corporations; provides that all controlled corporations (subsidiaries) as defined by the IRS code shall be considered one corporation for the purposes of contribution limits; requires the treasurer of a political committee, other than a party committee, to identify and disclose the economic or other special interests of a majority of its contributors and/or organizers and the identity of any common employer or organizer.
STATE OF NEW YORK
________________________________________________________________________
3683
2019-2020 Regular Sessions
IN ASSEMBLY
January 30, 2019
___________
Introduced by M. of A. DINOWITZ -- read once and referred to the Commit-
tee on Election Law
AN ACT to amend the election law, in relation to the classification of
certain components of a controlled group of corporations as a single
entity for purposes of calculating contribution limits, and requiring
the identification of the interests of certain contributors
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 260 of the laws of 1981, is amended to read as
3 follows:
4 2. Notwithstanding the provisions of subdivision one of this section,
5 any corporation or an organization financially supported in whole or in
6 part, by such corporation may make expenditures, including contrib-
7 utions, not otherwise prohibited by law, for political purposes, in an
8 amount not to exceed five thousand dollars in the aggregate in any
9 calendar year; provided that no public utility shall use revenues
10 received from the rendition of public service within the state for
11 contributions for political purposes unless such cost is charged to the
12 shareholders of such a public service corporation. For the purposes of
13 this subdivision, all the component members of a controlled group of
14 corporations within the meaning of section one thousand five hundred
15 sixty-three of the Internal Revenue Code of the United States shall be
16 deemed to be one corporation.
17 § 2. Subdivision 1 of section 14-118 of the election law, as amended
18 by section 9 of part A of chapter 286 of the laws of 2016, is amended to
19 read as follows:
20 1. Every political committee shall have a treasurer and a depository,
21 and shall cause the treasurer to keep detailed, bound accounts of all
22 receipts, transfers, loans, liabilities, contributions and expenditures,
23 made by the committee or any of its officers, members or agents acting
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00754-01-9
A. 3683 2
1 under its authority or in its behalf. All such accounts shall be
2 retained by a treasurer for a period of five years from the date of the
3 filing of the final statement with respect to the election, primary
4 election or convention to which they pertain. No officer, member or
5 agent of any political committee shall receive any receipt, transfer or
6 contribution, or make any expenditure or incur any liability until the
7 committee shall have chosen a treasurer and depository and filed their
8 names in accordance with this subdivision. There shall be filed in the
9 office in which the committee is required to file its statements under
10 section 14-110 of this article, within five days after the choice of a
11 treasurer and depository, a statement giving the name and address of the
12 treasurer chosen, the name and address of any person authorized to sign
13 checks by such treasurer, the name and address of the depository chosen
14 and the candidate or candidates or ballot proposal or proposals the
15 success or defeat of which the committee is to aid or take part;
16 provided, however, that such statement shall not be required of a
17 constituted committee and provided further that a political action
18 committee which makes no expenditures, to aid or take part in the
19 election or defeat of a candidate, other than in the form of contrib-
20 utions, shall not be required to list the candidates being supported or
21 opposed by such committee and shall also disclose the name and employer
22 for any individual who exerts operational control over the political
23 action committee as well as any salaried employee of the political
24 action committee. Such a statement from any committee other than a
25 party or authorized committee also shall clearly identify the economic
26 or other special interest, if identifiable, of a majority of its
27 contributors, and if a majority of its contributors share a common
28 employer, shall identify the employer. If the economic or other special
29 interest or common employer are not identifiable, such statement of a
30 multi-candidate committee shall clearly identify the economic or other
31 special interest, if identifiable, of a majority of its organizers, and
32 if a majority of its organizers share a common employer, shall identify
33 the employer, and if organized, controlled or maintained by an individ-
34 ual, shall identify that individual. Such statement shall be signed by
35 the treasurer and all other persons authorized to sign checks. Any
36 change in the information required in any statement shall be reported,
37 in an amended statement filed in the same manner and in the same office
38 as an original statement filed under this section, within two days after
39 it occurs, except that any change to the mailing address on any such
40 statement filed at the state board may also be made in any manner deemed
41 acceptable by the state board. Only a banking organization authorized to
42 do business in this state may be designated a depository hereunder.
43 § 3. This act shall take effect immediately.
