Lowers the annual candidate contribution limit from $150,000 to $75,000.
STATE OF NEW YORK ________________________________________________________________________ 5881 2011-2012 Regular Sessions IN ASSEMBLY March 2, 2011 ___________Introduced by M. of A. KAVANAGH, STEVENSON -- Multi-Sponsored by -- M. of A. THIELE -- read once and referred to the Committee on Election Law AN ACT to amend the election law, in relation to reducing the aggregate calendar limit on the amount of contributions that can be made by individuals THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 8 of section 14-114 of the election law, as amended by chapter 8 of the laws of 1978 and as redesignated by chapter 9 of the laws of 1978, is amended to read as follows: 8. Except as may otherwise be provided for a candidate and his family, no person may contribute, loan or guarantee in excess of
[one hundred fifty]SEVENTY-FIVE thousand dollars within the state in connection with the nomination or election of persons to state and local public offices and party positions within the state of New York in any one calendar year. For the purposes of this subdivision "loan" or "guarantee" shall mean a loan or guarantee which is not repaid or discharged in the calen- dar year in which it is made. S 2. This act shall take effect on the first of January next succeed- ing the date on which it shall have become a law.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00045-01-1