New York State Assembly

Bill No.:  

 
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•  Memo 
 
•  Text 

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A10997 Summary:

BILL NO	A10997
SAME AS	No same as
SPONSOR	Wright
COSPNSR	SKELOS
MLTSPNSR
Amd S14-116, El L
Provides a definition for the term corporation for purposes of political contributions.

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A10997 Actions:

BILL NO	A10997
05/02/2006	referred to election law
05/10/2006	reported
05/11/2006	advanced to third reading cal.396

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A10997 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
 submitted in accordance with Assembly Rule III, Sec 1(f)



 
BILL NUMBER: A10997
 
SPONSOR: Wright

 
TITLE OF BILL:  An act to amend the election law, in relation to poli-
tical contributions by corporations
 
 
PURPOSE OR GENERAL IDEA OF BILL:  To close a loophole that allows
campaign contributions by limited liability companies to be treated as
individual contributions for limitation purposes
 
 
SUMMARY OF SPECIFIC PROVISIONS: The bill adds a new subdivision to
section 14-116 of the election law to provide that the term "corpo-
ration" - includes a limited liability company for purposes of the

section which limits contributions by corporations to five thousand
dollars.
 
 
JUSTIFICATION: The election law limits the contributions that a corpo-
ration can make to political campaigns to $5000 per calendar year. It is
silent with respect to limited liability companies. To make it clear
that such limited liability companies are not "individuals" and may not
make contributions in the amount allowed by individuals, the term limit-
ed "corporation" is defined to include liability companies.
 
 
 
PRIOR LEGISLATIVE HISTORY:. None
 
 
FISCAL IMPLICATION: None
 
 
EFFECTIVE DATE: This act shall take effect immediately

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A10997 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10997
 
                   IN ASSEMBLY
 
                                       May 2, 2006
                                       ___________
 
        Introduced by M. of A. WRIGHT -- read once and referred to the Committee
          on Election Law
 
        AN ACT to amend the election law, in relation to political contributions
          by corporations
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 14-116 of the election law is amended by  adding  a

     2  new subdivision 3 to read as follows:
     3    3.  For  purposes of this section "corporation" means a corporation or
     4  limited liability company.
     5    § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD16704-01-6

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