NY S00089

Expands the types of business entities prohibited from making political contributions to include limited liability companies, professional limited liability companies, partnerships, and limited liability partnerships, with exceptions for entities organized solely for political purposes.

Increases the aggregate annual contribution limit for corporations and newly covered business entities from $5,000 to $5,000, and raises the partnership contribution limit from $2,500 to $5,000 per candidate or political committee.

Defines "single source" to aggregate contributions from any person, entity, or controlled entities (including affiliated corporate entities, related limited liability companies, and related partnerships) so that all contributions from a single source are combined to determine compliance with contribution limits.

Prohibits individuals from establishing partnerships or limited liability companies for the purpose of evading individual contribution limits, with contributions by limited liability companies treated as contributions by the entity as a whole.

Effective January 1, 2012, with a provision allowing contributions legally received before the effective date to be retained and expended without violation of election law.