Assemblyman Jake Blumencranz (R,C-Oyster Bay) and his colleagues in the state Assembly recently wrote a letter to Gov. Kathy Hochul urging her to veto the LLC Transparency Act (A.3484-A). This legislation would require the publication of the names and business addresses of LLC beneficial owners in a Business Entity Database. In its current form, this proposal would leave security gaps for businesses that antisemitic groups could exploit. To protect against this, Blumencranz is proposing there be a specific waiver process, overseen by the Hate Crimes Task Force, for LLC business owners who are part of a protected class to apply for an exemption. Blumencranz is asking the governor to take these factors into consideration and send the bill back to the Legislature so that they can make these much-needed reforms.
“The so-called ‘LLC Transparency Act’ would expose vulnerable small business owners to further antisemitism,” said Blumencranz. “I’m committed to protecting the safety and privacy of small business owners and their customers. Our proposal would protect our business owners and prevent further hate crimes from taking place in our state. Governor Hochul must act now to protect New Yorkers and fight against antisemitism and hate.”
***Editors note: You can read the full letter to the Governor here***