NY State Senate Bill 2021-S8588

Senate Bill S8588

2021-2022 Legislative Session

Relates to reporting requirements for certain contributions made to political action committees

download bill text pdf

Archive: Last Bill Status - In Senate Committee Elections Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Mar 17, 2022	referred to elections

2021-S8588 (ACTIVE) - Details

Current Committee:: Senate Elections
Law Section:: Election Law
Laws Affected:: Add §14-107-c, El L

2021-S8588 (ACTIVE) - Summary

Requires contributions made to a political action committee in an aggregate amount exceeding $10,000 in any calendar year to be reported to the state board of elections.

2021-S8588 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S8588

SPONSOR: RATH
 
TITLE OF BILL:

An act to amend the election law, in relation to reporting requirements
for certain contributions made to political action committees

 
PURPOSE OR GENERAL IDEA OF BILL:

This bill establishes financial reporting requirements for any entity
that donates more than 10,000 dollars to a political action committee
(PAC)

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1 amends the election law to add a new section 14-107-c. This
section provides that any covered entities, as defined in the section,
that donates over ten thousand dollars to a political action committee
must disclose information such as the primary manager of the entity, a
description of the contribution, and the date of the donation, as well
as any other requested information to the state board of elections no

later than thirty days after the end of the calendar year in which the
donation was made.

Section 2 Effective date.

 
JUSTIFICATION:

Large contributions made to political action committees (PACs), without
knowing who or what organization made the contribution, can give the
appearance that candidates for public office are being funded by "dark
money" and are beholden to their political donors.  This act would
create reporting requirements for large contributions made to PACs in
order to provide transparency to the donation process, by requiring the
name, or in the case of an organization the individual who manages it,
address, dollar amount and details of the contribution, the name and
address of the PAC receiving it, and the date of the contribution be
reported to the state board of elections in a timely manner.

 
LEGISLATIVE HISTORY:

New bill.

 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2021-S8588 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8588
 
                             I N  S E N A T E
 
                              March 17, 2022
                                ___________
 
 Introduced  by  Sen.  RATH  --  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 reporting  requirements
   for certain contributions made to political action committees
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The election  law  is  amended  by  adding  a  new  section
 14-107-c to read as follows:
   § 14-107-C. CONTRIBUTIONS TO POLITICAL ACTION COMMITTEES. 1. A COVERED
 ENTITY  THAT  MAKES  ANY  CONTRIBUTION  OR  CONTRIBUTIONS TO A POLITICAL
 ACTION COMMITTEE IN AN AGGREGATE AMOUNT OR FAIR MARKET  VALUE  EXCEEDING
 TEN  THOUSAND  DOLLARS IN A CALENDAR YEAR SHALL FILE A FINANCIAL DISCLO-
 SURE REPORT WITH THE STATE BOARD OF ELECTIONS. SUCH FINANCIAL DISCLOSURE
 REPORT SHALL INCLUDE:
   (A) THE NAME AND ADDRESS OF SUCH COVERED ENTITY;
   (B) IN THE CASE OF A COVERED ENTITY THAT IS NOT A NATURAL PERSON,  THE
 NAME  OR  NAMES  OF  ANY INDIVIDUALS WHO EXERT OPERATIONAL OR MANAGERIAL
 CONTROL OVER SUCH COVERED ENTITY, WHICH SHALL INCLUDE  THE  NAME  OF  AT
 LEAST ONE NATURAL PERSON;
   (C) A DETAILED DESCRIPTION OF SUCH CONTRIBUTION OR CONTRIBUTIONS;
   (D)  THE  DOLLAR  AMOUNT PAID FOR EACH SUCH CONTRIBUTION, THE NAME AND
 ADDRESS OF THE POLITICAL ACTION COMMITTEE RECEIVING  SUCH  CONTRIBUTION,
 AND THE DATE EACH SUCH CONTRIBUTION WAS MADE; AND
   (E) ANY OTHER INFORMATION THE STATE BOARD OF ELECTIONS SHALL REQUIRE.
   2.  A  COVERED  ENTITY  REQUIRED TO FILE A FINANCIAL DISCLOSURE REPORT
 UNDER SUBDIVISION ONE OF THIS SECTION SHALL FILE SUCH FINANCIAL  DISCLO-
 SURE  REPORT WITH THE STATE BOARD OF ELECTIONS NO LATER THAN THIRTY DAYS
 FOLLOWING THE END OF THE YEAR COVERED UNDER  SUCH  FINANCIAL  DISCLOSURE
 REPORT.
   3.  FOR  THE PURPOSES OF THIS SECTION, THE TERM "COVERED ENTITY" SHALL
 MEAN ANY  PERSON,  CORPORATION,  NONPROFIT  CORPORATION,  NOT-FOR-PROFIT
 CORPORATION, ORGANIZATION, GROUP OR OTHER ENTITY.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14655-01-2

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