New York Assembly Bill A00586 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 586 2025-2026 Regular Sessions  IN ASSEMBLY (Prefiled) January 8, 2025 ___________ Introduced by M. of A. MAGNARELLI -- read once and referred to the Committee on Election Law AN ACT to amend the election law, in relation to certain political campaign contributions The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (b) of subdivision 3 of section 14-120 of the 2 election law, as added by chapter 4 of the laws of 2019, is amended to 3 read as follows: 4 (b) If, by application of paragraph (a) of this subdivision, a 5 campaign contribution is attributed to a limited liability company, the 6 contributions shall be further attributed to each member of the limited 7 liability company in proportion to the member's ownership interest in 8 the limited liability company for contributions that exceed twenty-five 9 hundred dollars. 10 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01291-01-5