S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    644
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                                (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:
 
   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,  OTHER THAN IN THE REGULAR COURSE OF
 THE LENDER'S BUSINESS, SHALL BE ACCEPTED BY  A  CANDIDATE  OR  POLITICAL
 COMMITTEE,  EXCEPT FOR A CORPORATION THAT IS A POLITICAL COMMITTEE OR IF
 THE CONTRIBUTION IS FOR NON-CANDIDATE EXPENDITURES AS DEFINED IN  SUBDI-
 VISION  FIVE OF SECTION 14-100 OF THIS TITLE, 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,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD02202-01-5
 S. 644                              2
 
 GUARANTEEING,  COLLATERALIZING  OR  OTHERWISE PROVIDING SECURITY FOR THE
 LOAN.
   C.  NOTHING  IN  THIS  SUBDIVISION  SHALL BE APPLICABLE TO INDEPENDENT
 EXPENDITURE COMMITTEES, AS DEFINED IN  SUBDIVISION  FIFTEEN  OF  SECTION
 14-100  OF THIS TITLE OR NON-CANDIDATE EXPENDITURES AS DEFINED IN SUBDI-
 VISION FIVE OF SECTION 14-100 OF THIS TITLE.
   § 2. This act shall take effect immediately.