Requires reporting of the identities of persons acting as intermediaries or bundlers of political contributions in certain cases; defines relevant terms; provides for exceptions in other cases where a contribution was collected in connection with a party or other candidate related event held at the residence of the person delivering the contribution.
BILL NUMBER: S3965 REVISED 04/20/10
TITLE OF BILL : An act to amend the election law, in relation to intermediaries
PURPOSE : Requires the disclosure of the name, address and the amount of money raised and from whom raised of any "intermediary" or bundler of campaign contributions. Often a core group of wealthy or high profile individuals raise a large portion of the funds needed for a political candidate's campaign; this bill would require that core groups and the amount each member has raised be clearly and distinctly disclosed.
SUMMARY OF PROVISIONS : The bill adds a new subdivision 12 to § 14-100 of the election law defining an "intermediary" or bundler of contributions. The bill amends § 14-102 of the election law to require the listing of intermediary information on campaign financial disclosure reports filed by political committees with the Board of Elections.
JUSTIFICATION : This bill would help in clearing up some of the mystery of how political candidates are able to raise such large sums of money for statewide and other campaigns. As stated above, often a core group of wealthy or high profile individuals act as a fundraising committee for a political candidate and raise a large portion if not a majority of the funds for a campaign. For example, while the individual contribution limit for a State Senator may be $7,000 for a general election, if a wealthy individual holds a fundraiser at his or her home where each of the guests gives up to the contribution limit, that, individual was primarily responsible for raising tens or even hundreds of thousands of dollars for the candidate. This bill would insure that campaign financial disclosure reports clearly list who was able to funnel this large contribution to the candidate. New York City has had a "bundler disclosure" statute for a number of years now. This statute has done a great deal to educate the public as to who is doing the fundraising for candidates and how much these "bundlers" are taking in.
LEGISLATIVE HISTORY : 03/07/07 REFERRED TO ELECTIONS 01/09/08 REFERRED TO ELECTIONS
FISCAL IMPLICATIONS : None.
EFFECTIVE DATE : This act shall take effect on the one hundred twentieth day after it shall have become law.
STATE OF NEW YORK ________________________________________________________________________ 3965 2009-2010 Regular Sessions IN SENATE April 7, 2009 ___________Introduced by Sen. OPPENHEIMER -- 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 intermediaries THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 14-100 of the election law is amended by adding a new subdivision 12 to read as follows: 12. "INTERMEDIARY" MEANS AN INDIVIDUAL, CORPORATION, PARTNERSHIP, POLITICAL COMMITTEE, EMPLOYEE ORGANIZATION, OR OTHER ENTITY WHICH, OTHER THAN IN THE REGULAR COURSE OF BUSINESS AS A POSTAL, DELIVERY, OR MESSEN- GER SERVICE, DELIVERS ANY CONTRIBUTION FROM ANOTHER PERSON OR ENTITY TO A CANDIDATE OR AN AUTHORIZED COMMITTEE. "INTERMEDIARY" SHALL NOT INCLUDE SPOUSES, PARENTS, CHILDREN, OR SIBLINGS OF THE PERSON MAKING SUCH CONTRIBUTION. S 2. Subdivision 1 of section 14-102 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: 1. The treasurer of every political committee which, or any officer, member or agent of any such committee who, in connection with any election, receives or expends any money or other valuable thing or incurs any liability to pay money or its equivalent shall file state- ments sworn, or subscribed and bearing a form notice that false state- ments made therein are punishable as a class A misdemeanor pursuant to section 210.45 of the penal law, at the times prescribed by this article setting forth all the receipts, contributions to and the expenditures by and liabilities of the committee, and of its officers, members and agents in its behalf. Such statements shall include the dollar amount of any receipt, contribution or transfer, or the fair market value of any receipt, contribution or transfer, which is other than of money, the name and address of the transferor, contributor, INTERMEDIARY or person from whom received, and if the transferor, contributor, INTERMEDIARY orEXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09285-01-9 S. 3965 2
person is a political committee; the name of and the political unit represented by the committee, the date of its receipt, the dollar amount of every expenditure, the name and address of the person to whom it was made or the name of and the political unit represented by the committee to which it was made and the date thereof, and shall state clearly the purpose of such expenditure. AN INTERMEDIARY NEED NOT BE REPORTED FOR A CONTRIBUTION THAT WAS COLLECTED FROM A CONTRIBUTOR IN CONNECTION WITH A PARTY OR OTHER CANDIDATE-RELATED EVENT HELD AT THE RESIDENCE OF THE PERSON DELIVERING THE CONTRIBUTION, UNLESS THE EXPENSES OF SUCH EVENT AT SUCH RESIDENCE FOR SUCH CANDIDATE EXCEED FIVE HUNDRED DOLLARS OR THE AGGREGATE CONTRIBUTIONS RECEIVED FROM THAT CONTRIBUTOR AT SUCH EVENT EXCEED FIVE HUNDRED DOLLARS. Any statement reporting a loan shall have attached to it a copy of the evidence of indebtedness. Expenditures in sums under fifty dollars need not be specifically accounted for by sepa- rate items in said statements, and receipts and contributions aggregat- ing not more than ninety-nine dollars, from any one contributor need not be specifically accounted for by separate items in said statements, provided however, that such expenditures, receipts and contributions shall be subject to the other provisions of section 14-118 of this arti- cle. S 3. This act shall take effect on the one hundred twentieth day after it shall have become a law.