NY S08282

Establishes a State Board of Elections Enforcement Unit within the State Board of Elections, headed by an Enforcement Counsel and Deputy Enforcement Counsel (from different major political parties), with four-year terms and removal only for cause.

Requires disclosure and reporting of independent expenditures over $1,000, including identification of funding sources and materials used; defines "independent expenditure" as communications expressly advocating election or defeat of candidates without candidate authorization.

Prohibits false identification of political communications and establishes civil penalties ranging from $1,000 to $10,000 for filing violations and $1,000 or the cost of communication (whichever is greater) for false identification violations.

Limits candidates to authorizing only one political committee per election cycle and requires disposition of remaining campaign funds through contributions to charitable organizations, political parties, or return to contributors within four years.

Requires corporations to obtain annual shareholder authorization before making political contributions or independent expenditures and mandates annual disclosure of such expenditures to shareholders and the Secretary of State.