Loading chat...
NY A01794
Bill
Status
1/23/2023
Primary Sponsor
Jeffrey Dinowitz
Click for details
AI Summary
-
Treats all component members of a controlled group of corporations (as defined by Internal Revenue Code Section 1563) as a single entity when calculating the $5,000 annual aggregate contribution limit for political purposes.
-
Requires political committees (other than party or authorized committees) to disclose the economic or special interest shared by a majority of their contributors when filing treasurer statements.
-
Mandates disclosure of a common employer if a majority of contributors share one employer.
-
For multi-candidate committees where contributor interests are not identifiable, requires disclosure of the shared economic interest of organizers, their common employer (if applicable), or the identity of any individual who organized, controlled, or maintained the committee.
-
Takes effect immediately upon enactment.
Legislative Description
Relates to campaign contribution limits on corporations; provides that all controlled corporations (subsidiaries) as defined by the IRS code shall be considered one corporation for the purposes of contribution limits; requires the treasurer of a political committee, other than a party committee, to identify and disclose the economic or other special interests of a majority of its contributors and/or organizers and the identity of any common employer or organizer.
Last Action
referred to election law
1/3/2024