S 644: Prohibits schedule B contributions on campaign finance filings.

  
  STATE OF NEW YORK ________________________________________________________________________ 644 2025-2026 Regular Sessions  IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sens. SKOUFIS, MAY -- 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 political contributions by corporations 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 14-116 of the election law, as 2 amended by chapter 4 of the laws of 2019, is amended to read as follows: 3 2. a. Notwithstanding [the provisions of subdivision one of this 4 section, any corporation or an organization financially supported in 5 whole or in part, by such corporation, any limited liability company or 6 other corporate entity may make expenditures, including contributions, 7 not otherwise prohibited by law, for political purposes, in an amount 8 not to exceed five thousand dollars in the aggregate in any calendar 9 year; provided that no public utility shall use revenues received from 10 the rendition of public service within the state for contributions for 11 political purposes unless such cost is charged to the shareholders of 12 such a public service corporation.] any other provision of law to the 13 contrary, no contribution, loan, loan guarantee or other security for 14 such a loan from any corporation, other than in the regular course of 15 the lender's business, shall be accepted by a candidate or political 16 committee, except for a corporation that is a political committee or if 17 the contribution is for non-candidate expenditures as defined in subdi- 18 vision five of section 14-100 of this title, for all nominations to any 19 office or election to any office. 20 b. A loan made to a candidate or political committee, other than a 21 constituted committee, by any person, firm or association shall be 22 repaid by the date of the primary, special or general election, as the 23 case may be, or such loan shall be considered a contribution by such 24 person, firm or association including any person endorsing, cosigning, EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02202-01-5 
 S. 644 2 1 guaranteeing, collateralizing or otherwise providing security for the 2 loan. 3 c. Nothing in this subdivision shall be applicable to independent 4 expenditure committees, as defined in subdivision fifteen of section 5 14-100 of this title or non-candidate expenditures as defined in subdi- 6 vision five of section 14-100 of this title. 7 § 2. This act shall take effect immediately.