NY S00371

Prohibits foreign-influenced business entities from making contributions, donations, or expenditures in connection with New York state and local elections, either directly or indirectly.

Defines "foreign-influenced" business entities as those where: a single foreign owner holds 1% or more of equity/voting shares, two or more foreign owners collectively hold 5% or more, or a foreign owner participates in the entity's political decision-making.

Requires 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, attesting they are not foreign-influenced.

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 authorization for the state board of elections to adopt necessary rules and regulations immediately.