NY A00466

Removes the previous $5,000 aggregate annual limit on political contributions and expenditures by corporations, limited liability companies, and other corporate entities.

Prohibits corporations, limited liability companies, limited liability partnerships, and partnerships from making contributions, loans, loan guarantees, or providing security for loans to candidates or political committees, except in the regular course of the lender's business.

Requires 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, or the loan shall be considered a contribution.

Specifies that any person endorsing, cosigning, guaranteeing, collateralizing, or providing other security for a loan shall be considered a contributor if the loan is not repaid by the election date.

Takes effect immediately upon enactment.