assembly Bill A9948B

2009-2010 Legislative Session

Requires that corporate contributions to a political candidate or party committee or in support or opposition be approved by a majority of shareholders

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 01, 2010 print number 9948b
Jun 01, 2010 amend (t) and recommit to election law
Mar 09, 2010 print number 9948a
Mar 09, 2010 amend and recommit to election law
Feb 17, 2010 referred to election law

Co-Sponsors

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Multi-Sponsors

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A9948 - Details

See Senate Version of this Bill:
S7083A
Law Section:
Business Corporation Law
Laws Affected:
Add §§631, 1321, 1517 & 1534, BC L; add §78, Coop Corps L; add §523, N-PC L; add §35, Rail L; add §7, Transp Corps L; add §5017, Bank L; add §28, Rel Corp L; add §510, Lim Lil L

A9948 - Summary

Establishes the corporate political activity accountability to shareholders act which requires that corporate contributions to a political candidate or party committee or in support or opposition to a candidate or ballot referendum be approved by a majority of shareholders; applies to cooperative corporations, not-for-profit corporations, railroad and transportation corporations.

A9948 - Sponsor Memo

A9948 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9948

                          I N  A S S E M B L Y

                            February 17, 2010
                               ___________

Introduced by M. of A. LANCMAN, SKARTADOS, JACOBS, MAISEL, KOON, CASTRO,
  TITONE,  KAVANAGH  --  Multi-Sponsored  by -- M. of A. GLICK, PHEFFER,
  THIELE -- read once and referred to the Committee on Election Law

AN ACT to amend the business corporation  law,  the  cooperative  corpo-
  rations law, the not-for-profit corporation law, the railroad law, the
  transportation corporations law, the banking law, the religious corpo-
  rations  law  and  the  limited  liability company 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:

  Section 1.  This act shall be known and may be cited as the "corporate
political activity accountability to shareholders act".
  S  2.  The business corporation law is amended by adding a new section
521 to read as follows:
S 521. POLITICAL CONTRIBUTIONS.
  (A) NOTWITHSTANDING ANY OTHER LIMITS ON CORPORATE CONTRIBUTIONS TO  OR
EXPENDITURES  ON  POLITICAL  CANDIDATES,  POLITICAL COMMITTEES OR BALLOT
REFERENDUMS, BEFORE A CORPORATION MAY MAKE A FINANCIAL CONTRIBUTION TO A
POLITICAL CANDIDATE OR PARTY COMMITTEE OR IN SUPPORT OF OR OPPOSITION TO
A CANDIDATE OR BALLOT REFERENDUM, THE CORPORATION SHALL AT LEAST ANNUAL-
LY OBTAIN THE PRIOR AUTHORIZATION OF A MAJORITY OF THE  SHAREHOLDERS  OF
SUCH  CORPORATION  TO  MAKE  FINANCIAL  CONTRIBUTIONS  DIRECTLY TO OR IN
SUPPORT OR OPPOSITION TO POLITICAL CANDIDATES, OR PARTY  COMMITTEES,  OR
BALLOT REFERENDUMS, UP TO A STATED AGGREGATE ANNUAL AMOUNT.
  (B)  ANY  CORPORATION  MAKING  A FINANCIAL CONTRIBUTION TO A POLITICAL
CANDIDATE OR PARTY COMMITTEE OR IN SUPPORT OF OR OPPOSITION TO A  CANDI-
DATE OR BALLOT REFERENDUM SHALL AT LEAST ANNUALLY DISCLOSE TO ITS SHARE-
HOLDERS  AND FILE WITH THE SECRETARY OF STATE AN ACCOUNTING OF ITS FUNDS
USED FOR SUCH PURPOSES, INCLUDING (I) THE  IDENTITY  OF  ANY  CANDIDATE,
PARTY  COMMITTEE  OR  ORGANIZATION  RECEIVING  SUCH FUNDS AND THE AMOUNT
RECEIVED, AND (II) THE BUSINESS RATIONALE FOR EACH SUCH CONTRIBUTION.
  S 3. The cooperative corporations law  is  amended  by  adding  a  new
section 78 to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15801-05-0

Co-Sponsors

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Multi-Sponsors

A9948A - Details

See Senate Version of this Bill:
S7083A
Law Section:
Business Corporation Law
Laws Affected:
Add §§631, 1321, 1517 & 1534, BC L; add §78, Coop Corps L; add §523, N-PC L; add §35, Rail L; add §7, Transp Corps L; add §5017, Bank L; add §28, Rel Corp L; add §510, Lim Lil L

A9948A - Summary

Establishes the corporate political activity accountability to shareholders act which requires that corporate contributions to a political candidate or party committee or in support or opposition to a candidate or ballot referendum be approved by a majority of shareholders; applies to cooperative corporations, not-for-profit corporations, railroad and transportation corporations.

A9948A - Sponsor Memo

A9948A - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 9948--A

                          I N  A S S E M B L Y

                            February 17, 2010
                               ___________

Introduced by M. of A. LANCMAN, SKARTADOS, JACOBS, MAISEL, KOON, CASTRO,
  TITONE,  KAVANAGH,  JAFFEE,  PEOPLES-STOKES, BRODSKY, POWELL -- Multi-
  Sponsored by -- M. of A. BRENNAN, COLTON,  GLICK,  PHEFFER,  ROBINSON,
  THIELE  --  read once and referred to the Committee on Election Law --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT  to  amend  the business corporation law, the cooperative corpo-
  rations law, the not-for-profit corporation law, the railroad law, the
  transportation corporations law, the banking law, the religious corpo-
  rations law and the limited liability  company  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:

  Section 1.  This act shall be known and may be cited as the "corporate
political activity accountability to shareholders act".
  S 2. The business corporation law is amended by adding a  new  section
521 to read as follows:
S 521. POLITICAL CONTRIBUTIONS.
  (A)  NOTWITHSTANDING ANY OTHER LIMITS ON CORPORATE CONTRIBUTIONS TO OR
EXPENDITURES ON BEHALF OF POLITICAL  CANDIDATES,  POLITICAL  COMMITTEES,
PARTY  COMMITTEES OR BALLOT REFERENDUMS, BEFORE A CORPORATION MAY MAKE A
FINANCIAL CONTRIBUTION TO A POLITICAL CANDIDATE, POLITICAL COMMITTEE  OR
PARTY  COMMITTEE OR IN SUPPORT OF OR OPPOSITION TO A CANDIDATE OR BALLOT
REFERENDUM, THE CORPORATION SHALL AT LEAST  ANNUALLY  OBTAIN  THE  PRIOR
AUTHORIZATION  OF  A MAJORITY OF THE SHAREHOLDERS OF SUCH CORPORATION TO
MAKE FINANCIAL CONTRIBUTIONS DIRECTLY TO OR IN SUPPORT OR OPPOSITION  TO
POLITICAL  CANDIDATES,  OR POLITICAL COMMITTEES, OR PARTY COMMITTEES, OR
BALLOT REFERENDUMS, UP TO A STATED AGGREGATE ANNUAL AMOUNT.
  (B) ANY CORPORATION MAKING A FINANCIAL  CONTRIBUTION  TO  A  POLITICAL
CANDIDATE,  POLITICAL  COMMITTEE  OR PARTY COMMITTEE OR IN SUPPORT OF OR
OPPOSITION TO A CANDIDATE OR BALLOT REFERENDUM SHALL AT  LEAST  ANNUALLY
DISCLOSE  TO  ITS  SHAREHOLDERS  AND FILE WITH THE SECRETARY OF STATE AN
ACCOUNTING OF ITS FUNDS USED FOR SUCH PURPOSES, INCLUDING (I) THE  IDEN-
TITY OF ANY CANDIDATE, POLITICAL COMMITTEE, PARTY COMMITTEE OR ORGANIZA-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

A9948B (ACTIVE) - Details

See Senate Version of this Bill:
S7083A
Law Section:
Business Corporation Law
Laws Affected:
Add §§631, 1321, 1517 & 1534, BC L; add §78, Coop Corps L; add §523, N-PC L; add §35, Rail L; add §7, Transp Corps L; add §5017, Bank L; add §28, Rel Corp L; add §510, Lim Lil L

A9948B (ACTIVE) - Summary

Establishes the corporate political activity accountability to shareholders act which requires that corporate contributions to a political candidate or party committee or in support or opposition to a candidate or ballot referendum be approved by a majority of shareholders; applies to cooperative corporations, not-for-profit corporations, railroad and transportation corporations.

A9948B (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 9948--B

                          I N  A S S E M B L Y

                            February 17, 2010
                               ___________

Introduced by M. of A. LANCMAN, SKARTADOS, JACOBS, MAISEL, KOON, CASTRO,
  TITONE,  KAVANAGH,  JAFFEE,  PEOPLES-STOKES,  BRODSKY, POWELL, LIFTON,
  GIBSON, GALEF, ESPAILLAT, COLTON, ROSENTHAL -- Multi-Sponsored  by  --
  M.  of A.   BRENNAN, GLICK, PHEFFER, ROBINSON, THIELE -- read once and
  referred to the Committee on Election  Law  --  committee  discharged,
  bill  amended,  ordered  reprinted  as amended and recommitted to said
  committee -- again  reported  from  said  committee  with  amendments,
  ordered reprinted as amended and recommitted to said committee

AN  ACT  to  amend  the business corporation law, the cooperative corpo-
  rations law, the not-for-profit corporation law, the railroad law, the
  transportation corporations law,  the  banking  law  and  the  limited
  liability  company  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:

  Section  1. This act shall be known and may be cited as the "corporate
political activity accountability to shareholders act".
  S 2. The business corporation law is amended by adding a  new  section
631 to read as follows:
S 631. POLITICAL CONTRIBUTIONS.
  (A) DEFINITIONS. WHEN USED IN THIS SECTION:
  (1)  THE TERM "CONTRIBUTION" MEANS ANY GIFT, SUBSCRIPTION, OUTSTANDING
LOAN, ADVANCE, DEPOSIT OF MONEY OR ANY THING  OF  VALUE  PROVIDED  TO  A
POLITICAL  COMMITTEE,  PARTY  COMMITTEE,  CONSTITUTED  COMMITTEE OR DULY
CONSTITUTED SUBCOMMITTEE OF A  COUNTY  COMMITTEE,  AS  THOSE  TERMS  ARE
DEFINED  IN  ARTICLE  FOURTEEN  OF THE ELECTION LAW, IN SUPPORT OR OPPO-
SITION TO A CANDIDATE FOR PUBLIC OR PARTY OFFICE, REFERENDUM,  POLITICAL
PARTY,  ELECTIONEERING  COMMUNICATION  OR  ANY COMMUNICATION MADE TO THE
GENERAL PUBLIC INTENDED TO ENCOURAGE THE PUBLIC TO CONTACT A  GOVERNMENT
OFFICIAL,  CANDIDATE  FOR  PUBLIC  OR  PARTY  OFFICE  OR POLITICAL PARTY
REGARDING PENDING LEGISLATION, PUBLIC POLICY OR  A  GOVERNMENT  RULE  OR
REGULATION;
  (2)  THE TERM "INDEPENDENT EXPENDITURE" MEANS AN EXPENDITURE MADE BY A
PERSON FOR AN AUDIO OR VIDEO COMMUNICATION TO A GENERAL PUBLIC  AUDIENCE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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