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NY A02577
Bill
Status
1/17/2025
Primary Sponsor
Jeffrey Dinowitz
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AI Summary
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Treats all component members of a controlled group of corporations (as defined by IRS Code Section 1563) as a single corporation for purposes of the $5,000 annual limit on corporate political contributions
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Requires political committees (except party or authorized committees) to disclose the economic or special interest of a majority of their contributors in their treasurer's statement
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Mandates identification of any common employer if a majority of a committee's contributors share one
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Requires disclosure of the economic interest or common employer of a majority of organizers if contributor information is not identifiable, or identification of any individual who organized, controls, or maintains the committee
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Takes effect immediately upon passage
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
1/7/2026