Bill Text: NY S00644 | 2025-2026 | General Assembly | Introduced

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Bill Title: Prohibits schedule B contributions on campaign finance filings.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced) 2025-01-08 - REFERRED TO ELECTIONS [S00644 Detail]

Download: New_York-2025-S00644-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                           644

                               2025-2026 Regular Sessions

                    IN SENATE

                                       (Prefiled)

                                     January 8, 2025
                                       ___________

        Introduced  by Sens. SKOUFIS, MAY -- read twice and ordered printed, and
          when printed to be committed to the Committee on Elections

        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
        S. 644                              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.