S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7826
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 25, 2021
                                ___________
 
 Introduced  by M. of A. CARROLL -- read once and referred to the Commit-
   tee on Election Law
 
 AN ACT to amend the election law, in relation to political contributions
   by certain organizations
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Subdivision  2  of section 14-116 of the election law, as
 amended by chapter 4 of the laws of 2019, is amended to read as follows:
   2. A. Notwithstanding [the  provisions  of  subdivision  one  of  this
 section,  any  corporation  or  an organization financially supported in
 whole or in part, by such corporation, any limited liability company  or
 other  corporate  entity may make expenditures, including contributions,
 not otherwise prohibited by law, for political purposes,  in  an  amount
 not  to  exceed  five  thousand dollars in the aggregate in any calendar
 year; provided that no public utility shall use revenues  received  from
 the  rendition  of public service within the state for contributions for
 political purposes unless such cost is charged to  the  shareholders  of
 such  a  public service corporation.]  ANY OTHER PROVISION OF LAW TO THE
 CONTRARY, NO CONTRIBUTION, LOAN, LOAN GUARANTEE OR  OTHER  SECURITY  FOR
 SUCH  A  LOAN  FROM  ANY CORPORATION, LIMITED LIABILITY COMPANY, LIMITED
 LIABILITY PARTNERSHIP OR PARTNERSHIP, OTHER THAN IN THE  REGULAR  COURSE
 OF  THE  LENDER'S  BUSINESS, MAY BE ACCEPTED BY A CANDIDATE OR POLITICAL
 COMMITTEE, OTHER THAN A CORPORATION, LIMITED LIABILITY COMPANY,  LIMITED
 LIABILITY  PARTNERSHIP OR PARTNERSHIP THAT IS A POLITICAL COMMITTEE, FOR
 ALL NOMINATIONS TO ANY OFFICE OR ELECTION TO ANY OFFICE.
   B. A LOAN MADE TO A CANDIDATE OR POLITICAL  COMMITTEE,  OTHER  THAN  A
 CONSTITUTED  COMMITTEE,  BY  ANY  PERSON,  FIRM  OR ASSOCIATION SHALL BE
 REPAID BY THE DATE OF THE PRIMARY, SPECIAL OR GENERAL ELECTION,  AS  THE
 CASE  MAY  BE,  OR  SUCH LOAN SHALL BE CONSIDERED A CONTRIBUTION BY SUCH
 PERSON, FIRM OR ASSOCIATION INCLUDING ANY PERSON  ENDORSING,  COSIGNING,
 GUARANTEEING, COLLATERALIZING OR OTHER PROVIDING SECURITY FOR THE LOAN.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD05384-01-1