NY S00701

Restricts campaign contribution expenditures to only bona fide purposes directly related to promoting a candidate's nomination/election or performing duties of public office not otherwise reimbursable

Defines personal use of campaign funds as expenditures for personal benefit, normal living expenses, obligations that would exist regardless of the campaign, or amounts that would constitute gross income under IRS Section 61

Prohibits specific expenditures including residential costs, above-market-value rent for campaign property, tuition, private club dues, automobile purchases/long-term leases, entertainment tickets, and payment of election law fines or penalties

Shortens the deadline for disposing of campaign funds after a candidate's death from two years to twelve months, with options including returning funds to contributors, donating to 501(c)(3) charities, transferring to party committees, or depositing in the state general fund

Takes effect 60 days after becoming law, with the State Board of Elections required to notify all registered campaign committees within 30 days of enactment