STATE OF NEW YORK
________________________________________________________________________
38
2011-2012 Regular Sessions
IN SENATE(Prefiled)
January 5, 2011
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Introduced by Sens. SQUADRON, HASSELL-THOMPSON, KRUEGER, SERRANO -- read
twice and ordered printed, and when printed to be committed to the
Committee on Elections
AN ACT to amend the election law, in relation to contributions from
limited liability companies
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 2 of section 14-120 of the election law, as
2 added by chapter 79 of the laws of 1992, is amended to read as follows:
3 2. Notwithstanding subdivision one of this section, a partnership, as
4 defined in section ten of the partnership law, or a limited liability
5 company, as defined in section one hundred two of the limited liability
6 company law, may be considered a separate entity for the purposes of
7 this section, and as such may make contributions in the name of said
8 partnership or limited liability company without attributing such
9 contributions to the individual members of the partnership or limited
10 liability company provided that any such contribution made by a partner-
11 ship or limited liability company to a candidate or to a political
12 committee, shall not exceed[,] twenty-five hundred dollars. In the event
13 that such partnership or limited liability company contribution to any
14 such candidate or political committee exceeds twenty-five hundred
15 dollars, the aggregate amount of such contribution shall be attributed
16 to each partner or limited liability company member whose share of the
17 contribution exceeds ninety-nine dollars.
18 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00058-01-1
