NY A11260

Candidates elected to office may authorize separate entities (other than political committees) to accept donations and loans for transition and inauguration expenses, with registration required through the board of elections before accepting funds.

Transition entities cannot use funds from political committees, cannot accept donations exceeding contribution limits for the applicable office, and must stop incurring liabilities by January 31st of the year following the election.

Transition and inauguration contributions may generally be spent for any lawful purpose but cannot be converted to personal use unrelated to holding office or party position, with specific prohibitions including residential expenses, entertainment, fines, and certain travel costs.

Candidates may self-fund their own transition entities and lease personal property to transition committees at fair market value through written agreements, provided lease payments do not exceed the purchase cost.

The State Board of Elections shall issue binding advisory opinions on whether specific expenditures constitute prohibited personal use, effective December 15th following enactment.