NY A07458

Prohibits foreign-influenced business entities from making contributions, donations, or expenditures in connection with New York state or local elections, or to political committees and independent expenditure committees.

Defines "foreign-influenced" as a business entity where: a single foreign owner holds 1% or more of equity/voting shares, two or more foreign owners aggregate 5% or more, or a foreign owner participates in decision-making regarding political activities.

Requires all business entities making political expenditures or contributions to file a certification statement with the state board of elections within seven business days, signed under penalty of perjury by the chief executive officer or owner.

Makes violations a Class E felony with civil penalties equal to the contribution amount plus fines up to $10,000, enforceable by the state board of elections chief enforcement counsel.

Takes effect 180 days after enactment, with authority to adopt necessary rules and regulations prior to the effective date.