NY S04410

Creates new Article 18 of election law requiring entities formed to accept donations for transition or inauguration activities to file disclosure statements with the board of elections at prescribed times.

Requires disclosure statements to include dollar amounts, names and addresses of contributors, purpose of expenditures, and copies of loan evidence; exempts expenditures under $50 and contributions under $100 from itemized reporting.

Mandates the board of elections make disclosure reports publicly available within two business days of acceptance and requires final reports to account for remaining funds, which must be returned to donors or disposed of per board direction.

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

Takes effect December 15 following enactment; authorizes the board of elections to adopt implementing rules and regulations immediately.