NY A06244

Prohibits corporations, limited liability companies, and other corporate entities from making contributions, loans, loan guarantees, or other securities for loans to candidates or political committees

Removes the previous exception that allowed corporations to make political contributions up to $5,000 in aggregate per calendar year

Requires loans made to candidates or political committees to be repaid by the date of the primary, special, or general election, or the loan will be treated as a contribution from the lender (including any endorsers, cosigners, or guarantors)

Exempts independent expenditure committees and non-candidate expenditures from these restrictions

Takes effect immediately upon enactment