NY S00840

Creates new Article 18 of Election Law requiring entities formed to accept donations and loans for transition or inauguration activities to file disclosure statements with the Board of Elections.

Requires statements to detail all receipts, contributions, transfers, and expenditures including dollar amounts, names and addresses of contributors, and the purpose of expenditures; exempts individual expenditures under $50 and contributions under $99 from detailed itemization.

Mandates the Board of Elections make disclosure reports publicly available within two business days of acceptance and requires final reports to account for disposition of remaining funds after liabilities are paid.

Establishes penalties including civil penalties up to $1,000 for late filings, Class A misdemeanor for knowing violations of filing requirements or contribution limits, and Class E felony for knowingly organizing unauthorized committees to evade contribution limitations.

Takes effect on December 15 following enactment, with authorization for immediate Board of Elections rulemaking to implement the law.