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NY A07826
Bill
Status
5/25/2021
Primary Sponsor
Robert Carroll
Click for details
AI Summary
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Prohibits corporations, limited liability companies, limited liability partnerships, and partnerships from making contributions, loans, loan guarantees, or other security for loans to candidates or political committees, except when the organization is itself a political committee or the loan is made in the regular course of the lender's business.
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Requires all loans made to candidates or political committees by any person, firm, or association to be repaid by the date of the primary, special, or general election.
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Treats any loan not repaid by the election date as a contribution from the lender and any person endorsing, cosigning, guaranteeing, collateralizing, or providing other security for the loan.
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Takes effect immediately upon enactment.
Legislative Description
Prohibits certain political contributions and loans by certain organizations; provides that loans not repaid by the date of the primary or election shall be considered a contribution.
Last Action
referred to election law
1/5/2022