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

                                  9385

                          I N  A S S E M B L Y

                            February 24, 2012
                               ___________

Introduced  by M. of A. LATIMER -- read once and referred to the Commit-
  tee on Election Law

AN ACT to amend the election law, in relation to disposition of campaign
  funds

  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 14-132
to read as follows:
  S 14-132. DISPOSITION OF CAMPAIGN FUNDS. 1. AN  AUTHORIZED  CONTINUING
CANDIDATE  COMMITTEE  FOR  ANY INDIVIDUAL SHALL DISPOSE OF ALL FUNDS AND
CLOSE WITHIN FOUR YEARS AFTER THE LATER OF (A) THE END OF  THE  INDIVID-
UAL'S  MOST  RECENT  TERM  OF OFFICE, OR (B) THE DATE OF THE ELECTION IN
WHICH THE INDIVIDUAL LAST WAS A FILED CANDIDATE.
  2. ANY CANDIDATE OR POLITICAL COMMITTEE REQUIRED TO DISPOSE  OF  FUNDS
PURSUANT  TO  THIS SECTION SHALL, AT THE OPTION OF THE CANDIDATE, OR THE
TREASURER OF A POLITICAL COMMITTEE FORMED SOLELY TO PROMOTE THE  PASSAGE
OR  DEFEAT  OF  A  BALLOT  PROPOSAL, DISPOSE OF SUCH FUNDS BY ANY OF THE
FOLLOWING MEANS, OR ANY COMBINATION THEREOF:
  A. RETURNING, PRO RATA, TO EACH CONTRIBUTOR THE FUNDS  THAT  HAVE  NOT
BEEN SPENT OR OBLIGATED;
  B.  DONATING  THE  FUNDS TO A CHARITABLE ORGANIZATION OR ORGANIZATIONS
THAT MEET THE QUALIFICATIONS OF SECTION 501(C)(3) OF THE INTERNAL REVEN-
UE CODE;
  C. DONATING THE FUNDS TO THE STATE UNIVERSITY;
  D. DONATING THE FUNDS TO THE STATE'S GENERAL FUND;
  E. TRANSFERRING THE FUNDS TO A POLITICAL  PARTY  COMMITTEE  REGISTERED
WITH THE STATE BOARD OF ELECTIONS; OR
  F.  CONTRIBUTING  THE FUNDS TO A CANDIDATE OR POLITICAL COMMITTEE SUCH
THAT THIS DOES NOT EXCEED THE LIMITS SET FORTH IN SECTION 14-114 OF THIS
ARTICLE.
  3. NO CANDIDATE OR POLITICAL COMMITTEE SHALL DISPOSE OF CAMPAIGN FUNDS
BY MAKING EXPENDITURES FOR PERSONAL USE AS DEFINED IN SECTION 14-130  OF
THIS ARTICLE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00732-01-1
              

A. 9385                             2

  4.  UPON THE DEATH OF A CANDIDATE, FORMER CANDIDATE OR HOLDER OF ELEC-
TIVE OFFICE, WHO  RECEIVED  CAMPAIGN  CONTRIBUTIONS,  ALL  CONTRIBUTIONS
SHALL  BE  DISPOSED OF ACCORDING TO THIS SECTION WITHIN TWELVE MONTHS OF
THE DEATH OF THE CANDIDATE.
  5.  NOTWITHSTANDING THE REQUIREMENTS OF SUBDIVISION ONE OR TWO OF THIS
SECTION, AN AUTHORIZED CONTINUING CANDIDATE COMMITTEE SHALL  DISPOSE  OF
ALL  FUNDS AND CLOSE WITHIN TWELVE MONTHS AFTER A FELONY CONVICTION OF A
CANDIDATE WHO AUTHORIZED SUCH CANDIDATE COMMITTEE ACCORDING TO PARAGRAPH
A, B, C OR D OF SUBDIVISION TWO OF THIS SECTION.
  S 2. This act shall take effect immediately.