Lowers the annual candidate contribution limit from $150,000 to $75,000.
TITLE OF BILL: 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
PURPOSE: To reduce the limit on aggregate campaign contributions an individual may make during each calendar year from $150,000 to $75,000.
SUMMARY OF PROVISIONS: Section 1 of the bill would amend 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, to reduced the reduce the limit on aggregate campaign contributions an individual may make during each calendar year from $150,000 to $75,000. Section 2 of the bill specifies the effective date.
JUSTIFICATION: It is widely believed that our campaign finance laws need substantial changes to ensure the integrity of elections in our state. This bill does not address the broad range of issues that might be addressed in a comprehensive reform package. However, by reducing the aggregate amount that each individual may contribute each year, this bill will be a step toward diminishing the danger of corruption posed by wealthy individuals who may donate large sums to multiple candidates with an expectation that specific actions will be taken in exchange for their contributions-as well as the perception that such corruption may occur. Corporate contributors are subject to separate, lower limits and are unaffected by this bill.
LEGISLATIVE HISTORY: 2009-10: S.4545 (Squadron) - Elections, A.429 (Kavanagh) - Election Law 2008: A.11402A (Kavanagh) - Election Law
FISCAL IMPACT TO THE STATE: None.
EFFECTIVE DATE: This act shall take effect on the first January next succeeding the date on which it shall have become law.
STATE OF NEW YORK ________________________________________________________________________ 35 2011-2012 Regular Sessions IN SENATE (PREFILED) January 5, 2011 ___________Introduced by Sen. SQUADRON -- 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 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