senate Bill S2968

2013-2014 Legislative Session

Treats parent corporations and their 50% or more owned subsidiaries as one entity for purposes of the applicability of certain campaign contribution limits

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Archive: Last Bill Status - In 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 (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to elections
Jan 28, 2013 referred to elections

S2968 - Details

See Assembly Version of this Bill:
A2018
Current Committee:
Law Section:
Election Law
Laws Affected:
Amd ยงยง14-102 & 14-116, El L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S3731, A6397
2009-2010: S3980, A7697

S2968 - Summary

Treats parent corporations and their 50% or more owned subsidiaries as one entity for purposes of the applicability of the $5,000 campaign contribution limit; applies additional disclosure requirements to certain corporations including the names and addresses of parent corporations and individuals who own or control shares of either the parent or subsidiary corporation.

S2968 - Sponsor Memo

S2968 - Bill Text download pdf

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

                                  2968

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 28, 2013
                               ___________

Introduced  by  Sen.  GIPSON -- 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 the treatment of corpo-
  rate subsidiaries for purposes  of  the  application  of  contribution
  limits and reporting requirements

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Section 14-102 of the election law is amended by adding  a
new subdivision 6 to read as follows:
  6.  AS TO RECEIPTS FROM CORPORATIONS, THE STATEMENTS SHALL INCLUDE THE
NAME AND ADDRESS OF (A) EACH CORPORATION  FROM  WHICH  IT  HAS  RECEIVED
ANYTHING  OF  VALUE,  (B)  THE  NAME  OF  EACH  CORPORATION THAT OWNS OR
CONTROLS FIFTY PERCENT OR MORE OF THE SHARES OF  THAT  CORPORATION,  (C)
THE  NAMES  AND  ADDRESSES  OF EACH INDIVIDUAL WHO IS PART OF A GROUP OF
INDIVIDUALS THAT OWNS OR CONTROLS FIFTY PERCENT OR MORE OF THE SHARES OF
EITHER CORPORATION.
  S 2. Section 14-116 of the election law is amended  by  adding  a  new
subdivision 3 to read as follows:
  3. FOR PURPOSES OF THIS SECTION, THE TERM "CORPORATION" MEANS A PARENT
CORPORATION  AND ALL OF ITS SUBSIDIARIES OF WHICH THE PARENT CORPORATION
OWNS FIFTY PERCENT OR MORE OF  THE  OUTSTANDING  SHARES  AND  ANY  OTHER
CORPORATION  OF WHICH A COMBINATION OF INDIVIDUALS THAT OWNS OR CONTROLS
FIFTY PERCENT OR MORE OF THE OUTSTANDING SHARES  OF  THE  PARENT  CORPO-
RATION  ALSO  OWNS  OR CONTROLS FIFTY PERCENT OR MORE OF THE OUTSTANDING
SHARES.
  S 3. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03202-01-3

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