NY A06268

Requires entities formed to accept donations and loans for transition or inauguration activities to file disclosure statements with the board of elections detailing all receipts, contributions, transfers, and expenditures.

Mandates disclosure reports include the dollar amount or fair market value of all contributions, names and addresses of contributors, expenditure details and purposes, and copies of evidence for any loans received.

Requires the board of elections to make disclosure reports publicly available within two business days of acceptance and establishes that remaining funds after all liabilities are paid must be returned to donors or disposed of as determined by the board.

Establishes civil penalties up to $1,000 for candidates whose transition entities fail to file timely statements, and criminal penalties including class A misdemeanor charges for knowing violations and class E felony charges for coordinating unauthorized committees to evade contribution limits.

Takes effect on December 15 following the date the bill becomes law, with authority for the board of elections to adopt necessary rules and regulations immediately upon enactment.