Assembly Bill A2633

2023-2024 Legislative Session

Enacts the democracy preservation act

download bill text pdf

Sponsored By

Current Bill Status - In Assembly 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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2023-A2633 (ACTIVE) - Details

See Senate Version of this Bill:
Current Committee:
Assembly Election Law
Law Section:
Election Law
Laws Affected:
Add §14-116-a, amd §§14-100 & 14-116, El L
Versions Introduced in Other Legislative Sessions:
2019-2020: S7578
2021-2022: A7458, S1126

2023-A2633 (ACTIVE) - Summary

Enacts the democracy preservation act; prohibits contributions by foreign-influenced business entities; requires certification.

2023-A2633 (ACTIVE) - Bill Text download pdf

                     S T A T E   O F   N E W   Y O R K
                        2023-2024 Regular Sessions
                           I N  A S S E M B L Y
                             January 26, 2023
   DICKENS -- read once and referred to the Committee on Election Law
 AN ACT to amend the election law, in relation to enacting the "democracy
   preservation act"; and in relation  to  prohibiting  contributions  by
   foreign-influenced business entities and requiring certification

   Section 1. This act shall be known and may be cited as the  "democracy
 preservation act".
   §  2.  Legislative Findings. The legislature hereby finds and declares
 that New York state welcomes immigrants, visitors,  and  investors  from
 around the world. However, its elections should be decided by the people
 of  New  York and not by foreign investors or the business entities over
 which they exert influence. Corporations with partial foreign  ownership
 have  been  spending money to influence state and local elections in New
 York and around the country. The public has  a  compelling  interest  in
 limiting the participation of foreign entities in activities of American
 democratic  self-government,  which  include spending money to influence
 voters and finance campaigns, in  the  interest  of  preventing  foreign
 influence over the United States political process.
   Investors are the ultimate beneficiaries of corporate interests. Where
 part  of  the shareholders' equity is attributable to foreign investors,
 spending corporate treasury funds on New York elections  means  spending
 the equity of foreign entities on New York elections.
   Business  corporations  and  similar entities have a fiduciary duty to
 their shareholders, including investors around the world, and  generally
 prioritize  the  interests  of  such  shareholders,  which  may  diverge
 substantially from the interests of the people of New York and of  citi-
 zens of the United States. In addition, both formal procedures of corpo-
 rate  democracy and informal mechanisms of influence can provide foreign
 investors with substantial  influence  even  with  only  a  minority  of
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.


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