NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A6244
SPONSOR: Carroll R TITLE OF BILL:
An act to amend the election law, in relation to political contributions
by corporations
PURPOSE:
To ban corporations from making contributions to candidates and poli-
tical campaigns.
SUMMARY OF PROVISIONS:
Section 1: Amends election law by forbidding a candidate or political
committee from accepting any contribution, loan, loan guarantee, or
other security for such a loan from a corporation unless the corporation
is a political committee or if the contribution is for non-candidate
expenditures.
Section 2: Sets effective date.
JUSTIFICATION:
Eliminating corporate campaign contributions would better align New York
State with federal campaign finance law and help restore trust in
government operations.
LEGISLATIVE HISTORY:
2021-2022: A9896A /S8510A
2023-2024: A5410-A/S5553A
FISCAL IMPLICATIONS:
To be determined.
EFFECTIVE DATE:
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
6244
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 corporations
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, other than in the regular course of
15 the lender's business, shall be accepted by a candidate or political
16 committee, except for a corporation that is a political committee or if
17 the contribution is for non-candidate expenditures as defined in subdi-
18 vision five of section 14-100 of this title, for all nominations to any
19 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,
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02202-01-5
A. 6244 2
1 guaranteeing, collateralizing or otherwise providing security for the
2 loan.
3 c. Nothing in this subdivision shall be applicable to independent
4 expenditure committees, as defined in subdivision fifteen of section
5 14-100 of this title or non-candidate expenditures as defined in subdi-
6 vision five of section 14-100 of this title.
7 § 2. This act shall take effect immediately.
